CAPITALIA: 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.
CAPITALIA
Largest movements
- Receivables within one year +€45,798
up €45,798 (+96.4%), from €47,509 to €93,307
of which Trade receivables: +€57,041
- Cash -€12,829
down €12,829 (-18.1%), from €70,781 to €57,951
mainly Contributions, distributions and other (-€110,000) and Receivables within one year (-€45,798)
- Tangible fixed assets -€5,471
down €5,471 (-24.1%), from €22,735 to €17,264
- Reserves -€73,725
down €73,725 (-73.7%), from €99,974 to €26,249
- Trade debts +€48,357
up €48,357 (+365.2%), from €13,243 to €61,600
- Other debts +€27,826
up €27,826 (+109.3%), from €25,461 to €53,287
- Tax, wage and social debts +€25,635
new in 2025: €25,635
- Financial charges +€43,820
up €43,820 (+7298.0%), from €600 to €44,421
- Gross operating margin +€25,253
up €25,253 (+32.5%), from €77,584 to €102,837
- Taxes -€1,645
down €1,645 (-10.4%), from €15,803 to €14,158
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.
Cash bridge derived
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 | €142,238 | €169,797 | +€27,559 | +19.4% |
| Fixed assets | 21/28 | €22,735 | €17,264 | -€5,471 | -24.1% |
| Tangible fixed assets | 22/27 | €22,735 | €17,264 | -€5,471 | -24.1% |
| Plant, machinery and equipment | 23 | €2,919 | €1,814 | -€1,105 | -37.9% |
| Furniture and vehicles | 24 | €9,265 | €6,589 | -€2,677 | -28.9% |
| Other tangible fixed assets | 26 | €10,551 | €8,861 | -€1,690 | -16.0% |
| Current assets | 29/58 | €119,503 | €152,533 | +€33,030 | +27.6% |
| Amounts receivable within one year | 40/41 | €47,509 | €93,307 | +€45,798 | +96.4% |
| Trade receivables | 40 | €28,358 | €85,399 | +€57,041 | +201.2% |
| Other amounts receivable | 41 | €19,152 | €7,909 | -€11,243 | -58.7% |
| Cash at bank and in hand | 54/58 | €70,781 | €57,951 | -€12,829 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,213 | €1,275 | +€61 | +5.0% |
| Total equity and liabilities | 10/49 | €142,238 | €169,797 | +€27,559 | +19.4% |
| Equity | 10/15 | €102,974 | €29,249 | -€73,725 | -71.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €99,974 | €26,249 | -€73,725 | -73.7% |
| Distributable reserves | 133 | €99,974 | €26,249 | -€73,725 | -73.7% |
| Amounts payable | 17/49 | €39,264 | €140,548 | +€101,284 | +258.0% |
| Amounts payable within one year | 42/48 | €39,264 | €140,548 | +€101,284 | +258.0% |
| Current portion of amounts payable after more than one year | 42 | €560 | €26 | -€534 | -95.3% |
| Trade debts | 44 | €13,243 | €61,600 | +€48,357 | +365.2% |
| Suppliers | 440/4 | €13,243 | €61,600 | +€48,357 | +365.2% |
| Taxes, remuneration and social security | 45 | - | €25,635 | +€25,635 | |
| Taxes | 450/3 | - | €25,635 | +€25,635 | |
| Other amounts payable | 47/48 | €25,461 | €53,287 | +€27,826 | +109.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,623 | €6,504 | -€120 | -1.8% |
| Other operating charges | 640/8 | €916 | €1,483 | +€567 | +62.0% |
| Gross operating margin | 9900 | €77,584 | €102,837 | +€25,253 | +32.5% |
| Operating profit (loss) | 9901 | €70,045 | €94,850 | +€24,805 | +35.4% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €600 | €44,421 | +€43,820 | +7298.0% |
| Recurring financial charges | 65 | €600 | €44,421 | +€43,820 | +7298.0% |
| Profit (loss) for the period before taxes | 9903 | €69,445 | €50,433 | -€19,011 | -27.4% |
| Income taxes | 67/77 | €15,803 | €14,158 | -€1,645 | -10.4% |
| Profit (loss) for the period | 9904 | €53,641 | €36,275 | -€17,366 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,641 | €36,275 | -€17,366 | -32.4% |
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 9 October 2026 via checked.be.