CAPITALL THIRTEEN: 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.
CAPITALL THIRTEEN
Largest movements
- Tangible fixed assets -€57,495
down €57,495 (-62.1%), from €92,558 to €35,063
- Cash -€20,833
down €20,833 (-64.1%), from €32,493 to €11,660
mainly Debts after one year (-€35,369) and Receivables within one year (-€16,603)
- Receivables within one year +€16,603
up €16,603 (+257%), from €6,463 to €23,066
of which Other amounts receivable: +€18,533
- Debts after one year -€35,369
down €35,369 (-27.8%), from €127,011 to €91,642
- Profit (loss) carried forward -€15,319
down €15,319 (-29.4%), from -€52,145 to -€67,464
- Tax, wage and social debts -€7,013
down €7,013 (-72.5%), from €9,674 to €2,661
- Other debts -€6,266
down €6,266 (-100%), from €6,266 to €0
- Gross operating margin +€62,119
up €62,119, from -€54,235 to €7,883
- Depreciation -€4,230
down €4,230 (-28.5%), from €14,815 to €10,586
- Financial charges +€1,897
up €1,897 (+48.0%), from €3,955 to €5,852
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 | €131,514 | €69,789 | -€61,725 | -46.9% |
| Fixed assets | 21/28 | €92,558 | €35,063 | -€57,495 | -62.1% |
| Tangible fixed assets | 22/27 | €92,558 | €35,063 | -€57,495 | -62.1% |
| Furniture and vehicles | 24 | €92,558 | €35,063 | -€57,495 | -62.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €38,956 | €34,726 | -€4,230 | -10.9% |
| Amounts receivable within one year | 40/41 | €6,463 | €23,066 | +€16,603 | +257% |
| Trade receivables | 40 | €5,560 | €3,630 | -€1,930 | -34.7% |
| Other amounts receivable | 41 | €903 | €19,436 | +€18,533 | +2,053% |
| Cash at bank and in hand | 54/58 | €32,493 | €11,660 | -€20,833 | -64.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €131,514 | €69,789 | -€61,725 | -46.9% |
| Equity | 10/15 | -€45,850 | -€61,169 | -€15,319 | -33.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €95 | €95 | = | 0.0% |
| Distributable reserves | 133 | €95 | €95 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,145 | -€67,464 | -€15,319 | -29.4% |
| Amounts payable | 17/49 | €177,364 | €130,958 | -€46,406 | -26.2% |
| Amounts payable after more than one year | 17 | €127,011 | €91,642 | -€35,369 | -27.8% |
| Financial debts | 170/4 | €127,011 | €91,642 | -€35,369 | -27.8% |
| Amounts payable within one year | 42/48 | €50,353 | €39,316 | -€11,037 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €32,658 | €33,969 | +€1,312 | +4.0% |
| Trade debts | 44 | €1,755 | €2,685 | +€930 | +53.0% |
| Suppliers | 440/4 | €1,755 | €2,685 | +€930 | +53.0% |
| Taxes, remuneration and social security | 45 | €9,674 | €2,661 | -€7,013 | -72.5% |
| Taxes | 450/3 | €9,674 | €2,661 | -€7,013 | -72.5% |
| Other amounts payable | 47/48 | €6,266 | €0 | -€6,266 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,815 | €10,586 | -€4,230 | -28.5% |
| Other operating charges | 640/8 | €1,201 | €954 | -€247 | -20.6% |
| Non-recurring operating charges | 66A | €3,754 | €5,670 | +€1,915 | +51.0% |
| Gross operating margin | 9900 | -€54,235 | €7,883 | +€62,119 | |
| Operating profit (loss) | 9901 | -€74,006 | -€9,326 | +€64,680 | +87.4% |
| Financial charges | 65/66B | €3,955 | €5,852 | +€1,897 | +48.0% |
| Recurring financial charges | 65 | €3,955 | €5,852 | +€1,897 | +48.0% |
| Profit (loss) for the period before taxes | 9903 | -€77,961 | -€15,178 | +€62,783 | +80.5% |
| Income taxes | 67/77 | €131 | €141 | +€10 | +7.6% |
| Profit (loss) for the period | 9904 | -€78,092 | -€15,319 | +€62,773 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,092 | -€15,319 | +€62,773 | +80.4% |
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 22 October 2026 via checked.be.