Capital Partners: 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 Partners
Largest movements
- Current investments +€427,435
up €427,435 (+44.6%), from €958,255 to €1.4m
- Receivables within one year -€296,015
down €296,015 (-77.0%), from €384,495 to €88,481
of which Other amounts receivable: -€277,786
- Cash -€140,643
down €140,643 (-82.1%), from €171,267 to €30,623
mainly Current investments (-€427,435) and Receivables after one year (-€66,326)
- Receivables after one year +€66,326
up €66,326 (+5.9%), from €1.1m to €1.2m
- Debts after one year +€80,000
up €80,000 (+6.8%), from €1.2m to €1.3m
- Profit (loss) carried forward -€43,118
down €43,118 (-4.2%), from €1.0m to €993,388
- Accrued charges and deferred income +€41,640
up €41,640 (+167%), from €25,000 to €66,640
- Gross operating margin -€633,160
down €633,160, from €586,083 to -€47,077
- Financial income +€24,584
up €24,584 (+34.9%), from €70,496 to €95,080
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 | €3,251,922 | €3,325,901 | +€73,979 | +2.3% |
| Fixed assets | 21/28 | €591,279 | €589,596 | -€1,683 | -0.3% |
| Tangible fixed assets | 22/27 | €30 | €0 | -€30 | -100% |
| Plant, machinery and equipment | 23 | €30 | €0 | -€30 | -100% |
| Financial fixed assets | 28 | €591,249 | €589,596 | -€1,654 | -0.3% |
| Current assets | 29/58 | €2,660,642 | €2,736,305 | +€75,663 | +2.8% |
| Amounts receivable after more than one year | 29 | €1,120,867 | €1,187,193 | +€66,326 | +5.9% |
| Other amounts receivable | 291 | €1,120,867 | €1,187,193 | +€66,326 | +5.9% |
| Amounts receivable within one year | 40/41 | €384,495 | €88,481 | -€296,015 | -77.0% |
| Trade receivables | 40 | €34,495 | €16,267 | -€18,228 | -52.8% |
| Other amounts receivable | 41 | €350,000 | €72,214 | -€277,786 | -79.4% |
| Current investments | 50/53 | €958,255 | €1,385,690 | +€427,435 | +44.6% |
| Cash at bank and in hand | 54/58 | €171,267 | €30,623 | -€140,643 | -82.1% |
| Deferred charges and accrued income | 490/1 | €25,759 | €44,319 | +€18,560 | +72.1% |
| Total equity and liabilities | 10/49 | €3,251,922 | €3,325,901 | +€73,979 | +2.3% |
| Equity | 10/15 | €1,443,591 | €1,400,473 | -€43,118 | -3.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €7,085 | €7,085 | = | 0.0% |
| Distributable reserves | 133 | €7,085 | €7,085 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,036,506 | €993,388 | -€43,118 | -4.2% |
| Amounts payable | 17/49 | €1,808,330 | €1,925,428 | +€117,098 | +6.5% |
| Amounts payable after more than one year | 17 | €1,174,800 | €1,254,800 | +€80,000 | +6.8% |
| Financial debts | 170/4 | €1,174,800 | €1,254,800 | +€80,000 | +6.8% |
| Amounts payable within one year | 42/48 | €608,530 | €603,989 | -€4,542 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €7,408 | €4,789 | -€2,620 | -35.4% |
| Suppliers | 440/4 | €7,408 | €4,789 | -€2,620 | -35.4% |
| Taxes, remuneration and social security | 45 | €1,922 | €0 | -€1,922 | -100% |
| Taxes | 450/3 | €1,922 | €0 | -€1,922 | -100% |
| Other amounts payable | 47/48 | €599,200 | €599,200 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €25,000 | €66,640 | +€41,640 | +167% |
| Non-recurring operating income | 76A | €635,857 | €847 | -€635,010 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €362 | €30 | -€332 | -91.7% |
| Other operating charges | 640/8 | €1,497 | €1,543 | +€46 | +3.1% |
| Non-recurring operating charges | 66A | €172,500 | €0 | -€172,500 | -100% |
| Gross operating margin | 9900 | €586,083 | -€47,077 | -€633,160 | |
| Operating profit (loss) | 9901 | €411,723 | -€48,650 | -€460,374 | |
| Financial income | 75/76B | €70,496 | €95,080 | +€24,584 | +34.9% |
| Recurring financial income | 75 | €70,496 | €95,080 | +€24,584 | +34.9% |
| Financial charges | 65/66B | €91,194 | €89,548 | -€1,645 | -1.8% |
| Recurring financial charges | 65 | €91,194 | €89,548 | -€1,645 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €391,026 | -€43,118 | -€434,144 | |
| Profit (loss) for the period | 9904 | €391,026 | -€43,118 | -€434,144 | |
| Profit (loss) for the period to be appropriated | 9905 | €391,026 | -€43,118 | -€434,144 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.