CAPITAL VISION: 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 VISION
Largest movements
- Tangible fixed assets -€10,662
down €10,662 (-23.3%), from €45,743 to €35,082
of which Furniture and vehicles: -€10,400
- Cash -€10,039
down €10,039 (-6.9%), from €145,854 to €135,815
mainly Net result for the year (-€18,597) and Receivables within one year (-€2,928)
- Receivables within one year +€2,928
up €2,928 (+31.4%), from €9,310 to €12,238
of which Other amounts receivable: +€3,612
- Profit (loss) carried forward -€18,597
down €18,597 (-43.0%), from €43,276 to €24,679
- Gross operating margin -€192,138
down €192,138, from €184,642 to -€7,496
- Taxes -€55,745
down €55,745 (-99.8%), from €55,880 to €135
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 | €202,300 | €184,108 | -€18,193 | -9.0% |
| Fixed assets | 21/28 | €45,743 | €35,082 | -€10,662 | -23.3% |
| Tangible fixed assets | 22/27 | €45,743 | €35,082 | -€10,662 | -23.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €2,393 | €2,131 | -€262 | -10.9% |
| Furniture and vehicles | 24 | €43,350 | €32,950 | -€10,400 | -24.0% |
| Current assets | 29/58 | €156,557 | €149,026 | -€7,531 | -4.8% |
| Amounts receivable within one year | 40/41 | €9,310 | €12,238 | +€2,928 | +31.4% |
| Trade receivables | 40 | €684 | €0 | -€684 | -100% |
| Other amounts receivable | 41 | €8,626 | €12,238 | +€3,612 | +41.9% |
| Cash at bank and in hand | 54/58 | €145,854 | €135,815 | -€10,039 | -6.9% |
| Deferred charges and accrued income | 490/1 | €1,393 | €973 | -€420 | -30.1% |
| Total equity and liabilities | 10/49 | €202,300 | €184,108 | -€18,193 | -9.0% |
| Equity | 10/15 | €191,453 | €172,856 | -€18,597 | -9.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €141,977 | €141,977 | = | 0.0% |
| Distributable reserves | 133 | €141,977 | €141,977 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,276 | €24,679 | -€18,597 | -43.0% |
| Amounts payable | 17/49 | €10,848 | €11,252 | +€404 | +3.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €10,848 | €11,252 | +€404 | +3.7% |
| Trade debts | 44 | €0 | €400 | +€400 | |
| Suppliers | 440/4 | €0 | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €10,848 | €10,852 | +€4 | 0.0% |
| Taxes | 450/3 | €10,848 | €10,852 | +€4 | 0.0% |
| Non-recurring operating income | 76A | €194,425 | €0 | -€194,425 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,375 | €10,662 | +€1,287 | +13.7% |
| Other operating charges | 640/8 | €753 | €653 | -€101 | -13.4% |
| Gross operating margin | 9900 | €184,642 | -€7,496 | -€192,138 | |
| Operating profit (loss) | 9901 | €174,514 | -€18,810 | -€193,324 | |
| Financial income | 75/76B | €107 | €435 | +€328 | +306% |
| Recurring financial income | 75 | €107 | €435 | +€328 | +306% |
| Financial charges | 65/66B | €84 | €87 | +€3 | +3.8% |
| Recurring financial charges | 65 | €84 | €87 | +€3 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €174,537 | -€18,462 | -€192,999 | |
| Income taxes | 67/77 | €55,880 | €135 | -€55,745 | -99.8% |
| Profit (loss) for the period | 9904 | €118,657 | -€18,597 | -€137,254 | |
| Profit (loss) for the period to be appropriated | 9905 | €118,657 | -€18,597 | -€137,254 |
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 15 October 2026 via checked.be.