Capital Panache: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Capital Panache
Largest movements
- Cash +€29,869
up €29,869 (+31.4%), from €95,110 to €124,979
mainly Net result for the year (+€38,835) and Trade debts (+€7,078)
- Reserves +€38,800
up €38,800 (+35.5%), from €109,250 to €148,050
- Accrued charges and deferred income -€13,650
down €13,650 (-54.6%), from €25,000 to €11,350
- Trade debts +€7,078
up €7,078 (+74.0%), from €9,566 to €16,644
- Tax, wage and social debts -€4,041
down €4,041 (-32.1%), from €12,602 to €8,561
- Gross operating margin +€18,591
up €18,591 (+41.5%), from €44,765 to €63,356
- Taxes +€6,257
up €6,257 (+45.2%), from €13,844 to €20,101
- Depreciation -€757
down €757 (-16.7%), from €4,524 to €3,767
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,478 | €204,291 | +€27,813 | +15.8% |
| Fixed assets | 21/28 | €7,196 | €5,829 | -€1,367 | -19.0% |
| Tangible fixed assets | 22/27 | €3,596 | €1,729 | -€1,867 | -51.9% |
| Furniture and vehicles | 24 | €3,596 | €1,729 | -€1,867 | -51.9% |
| Financial fixed assets | 28 | €3,600 | €4,100 | +€500 | +13.9% |
| Current assets | 29/58 | €169,282 | €198,462 | +€29,180 | +17.2% |
| Amounts receivable within one year | 40/41 | €73,006 | €72,301 | -€705 | -1.0% |
| Trade receivables | 40 | €73,006 | €72,246 | -€760 | -1.0% |
| Other amounts receivable | 41 | - | €55 | +€55 | |
| Cash at bank and in hand | 54/58 | €95,110 | €124,979 | +€29,869 | +31.4% |
| Deferred charges and accrued income | 490/1 | €1,166 | €1,182 | +€16 | +1.4% |
| Total equity and liabilities | 10/49 | €176,478 | €204,291 | +€27,813 | +15.8% |
| Equity | 10/15 | €116,610 | €155,445 | +€38,835 | +33.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €109,250 | €148,050 | +€38,800 | +35.5% |
| Distributable reserves | 133 | €109,250 | €148,050 | +€38,800 | +35.5% |
| Profit (loss) carried forward | 14 | €1,160 | €1,195 | +€35 | +3.0% |
| Amounts payable | 17/49 | €59,868 | €48,846 | -€11,022 | -18.4% |
| Amounts payable within one year | 42/48 | €34,868 | €37,496 | +€2,628 | +7.5% |
| Trade debts | 44 | €9,566 | €16,644 | +€7,078 | +74.0% |
| Suppliers | 440/4 | €9,566 | €16,644 | +€7,078 | +74.0% |
| Taxes, remuneration and social security | 45 | €12,602 | €8,561 | -€4,041 | -32.1% |
| Taxes | 450/3 | €12,602 | €8,561 | -€4,041 | -32.1% |
| Other amounts payable | 47/48 | €12,700 | €12,291 | -€409 | -3.2% |
| Accrued charges and deferred income | 492/3 | €25,000 | €11,350 | -€13,650 | -54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,524 | €3,767 | -€757 | -16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €260 | +€260 | |
| Other operating charges | 640/8 | €222 | €133 | -€89 | -40.1% |
| Gross operating margin | 9900 | €44,765 | €63,356 | +€18,591 | +41.5% |
| Operating profit (loss) | 9901 | €40,019 | €59,196 | +€19,177 | +47.9% |
| Financial income | 75/76B | €2 | €1 | -€1 | -50.0% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -50.0% |
| Financial charges | 65/66B | €642 | €261 | -€381 | -59.3% |
| Recurring financial charges | 65 | €642 | €261 | -€381 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | €39,379 | €58,936 | +€19,557 | +49.7% |
| Income taxes | 67/77 | €13,844 | €20,101 | +€6,257 | +45.2% |
| Profit (loss) for the period | 9904 | €25,535 | €38,835 | +€13,300 | +52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,535 | €38,835 | +€13,300 | +52.1% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.