CAPITALIZE: what changed
Two fiscal 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.
CAPITALIZE
Largest movements
- Receivables within one year +€9,741
up €9,741 (+24.2%), from €40,196 to €49,937
of which Trade receivables: +€39,425
- Cash -€5,463
down €5,463 (-39.0%), from €14,004 to €8,541
mainly Receivables within one year (-€9,741)
- Trade debts +€2,933
up €2,933 (+8.5%), from €34,351 to €37,284
- Reserves +€819
up €819 (+5.3%), from €15,574 to €16,392
- Gross operating margin +€210
up €210 (+12.7%), from €1,656 to €1,866
- Other operating charges +€205
up €205 (+32.9%), from €623 to €828
- Taxes +€179
new in 2025: €179
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 | €55,925 | €60,176 | +€4,252 | +7.6% |
| Current assets | 29/58 | €55,925 | €60,176 | +€4,252 | +7.6% |
| Amounts receivable within one year | 40/41 | €40,196 | €49,937 | +€9,741 | +24.2% |
| Trade receivables | 40 | €7,442 | €46,866 | +€39,425 | +529.8% |
| Other amounts receivable | 41 | €32,755 | €3,070 | -€29,684 | -90.6% |
| Cash at bank and in hand | 54/58 | €14,004 | €8,541 | -€5,463 | -39.0% |
| Deferred charges and accrued income | 490/1 | €1,724 | €1,698 | -€26 | -1.5% |
| Total equity and liabilities | 10/49 | €55,925 | €60,176 | +€4,252 | +7.6% |
| Equity | 10/15 | €21,574 | €22,392 | +€819 | +3.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €15,574 | €16,392 | +€819 | +5.3% |
| Distributable reserves | 133 | €15,574 | €16,392 | +€819 | +5.3% |
| Amounts payable | 17/49 | €34,351 | €37,784 | +€3,433 | +10.0% |
| Amounts payable within one year | 42/48 | €34,351 | €37,784 | +€3,433 | +10.0% |
| Trade debts | 44 | €34,351 | €37,284 | +€2,933 | +8.5% |
| Suppliers | 440/4 | €34,351 | €37,284 | +€2,933 | +8.5% |
| Other amounts payable | 47/48 | - | €500 | +€500 | |
| Other operating charges | 640/8 | €623 | €828 | +€205 | +32.9% |
| Gross operating margin | 9900 | €1,656 | €1,866 | +€210 | +12.7% |
| Operating profit (loss) | 9901 | €1,033 | €1,038 | +€5 | +0.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.0% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €989 | €997 | +€8 | +0.8% |
| Income taxes | 67/77 | - | €179 | +€179 | |
| Profit (loss) for the period | 9904 | €989 | €819 | -€171 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €989 | €819 | -€171 | -17.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.