CAPITOLE: 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.
CAPITOLE
Largest movements
- Tangible fixed assets +€47,881
up €47,881 (+11.5%), from €418,176 to €466,057
of which Plant, machinery and equipment: +€75,826
- Cash -€30,000
down €30,000 (-18.9%), from €158,333 to €128,333
mainly Net result for the year (-€391,545) and Investment in fixed assets (net) (-€160,780)
- Deferred charges and accrued income -€13,194
down €13,194 (-90.0%), from €14,660 to €1,465
- Profit (loss) carried forward -€391,545
down €391,545 (-53.9%), from -€726,012 to -€1.1m
- Contributions +€295,000
up €295,000 (+28.0%), from €1.1m to €1.4m
of which Capital: +€295,000
- Other debts +€120,854
up €120,854 (+146.0%), from €82,763 to €203,617
- Provisions -€29,358
no longer reported in 2025 (was €29,358)
- Tax, wage and social debts +€11,477
up €11,477 (+20.3%), from €56,547 to €68,024
of which Remuneration and social security: +€8,315
- Gross operating margin -€354,118
down €354,118 (-28.4%), from €1.2m to €892,494
- Provisions -€58,716
down €58,716, from €29,358 to -€29,358
- Staff costs +€57,454
up €57,454 (+12.3%), from €466,501 to €523,955
- Other operating charges -€52,416
down €52,416 (-7.4%), from €708,020 to €655,604
- Depreciation -€21,086
down €21,086 (-15.7%), from €133,984 to €112,898
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 | €759,463 | €763,821 | +€4,358 | +0.6% |
| Fixed assets | 21/28 | €584,432 | €632,314 | +€47,881 | +8.2% |
| Tangible fixed assets | 22/27 | €418,176 | €466,057 | +€47,881 | +11.5% |
| Plant, machinery and equipment | 23 | €123,950 | €199,776 | +€75,826 | +61.2% |
| Other tangible fixed assets | 26 | €294,226 | €266,281 | -€27,945 | -9.5% |
| Financial fixed assets | 28 | €166,256 | €166,256 | = | 0.0% |
| Current assets | 29/58 | €175,031 | €131,507 | -€43,523 | -24.9% |
| Amounts receivable within one year | 40/41 | €2,038 | €1,709 | -€329 | -16.1% |
| Trade receivables | 40 | €1,708 | €1,379 | -€329 | -19.3% |
| Other amounts receivable | 41 | €330 | €330 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €158,333 | €128,333 | -€30,000 | -18.9% |
| Deferred charges and accrued income | 490/1 | €14,660 | €1,465 | -€13,194 | -90.0% |
| Total equity and liabilities | 10/49 | €759,463 | €763,821 | +€4,358 | +0.6% |
| Equity | 10/15 | €386,963 | €290,418 | -€96,545 | -24.9% |
| Contributions | 10/11 | €1,055,439 | €1,350,439 | +€295,000 | +28.0% |
| Capital | 10 | €1,055,356 | €1,350,356 | +€295,000 | +28.0% |
| Issued capital | 100 | €1,055,356 | €1,350,356 | +€295,000 | +28.0% |
| Outside capital | 11 | €83 | €83 | = | 0.0% |
| Share premium | 1100/10 | €83 | €83 | = | 0.0% |
| Reserves | 13 | €57,536 | €57,536 | = | 0.0% |
| Non-distributable reserves | 130/1 | €57,536 | €57,536 | = | 0.0% |
| Legal reserve | 130 | €57,536 | €57,536 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€726,012 | -€1,117,557 | -€391,545 | -53.9% |
| Provisions and deferred taxes | 16 | €29,358 | - | -€29,358 | |
| Provisions for liabilities and charges | 160/5 | €29,358 | - | -€29,358 | |
| Other liabilities and charges | 164/5 | €29,358 | - | -€29,358 | |
| Amounts payable | 17/49 | €343,142 | €473,403 | +€130,261 | +38.0% |
| Amounts payable within one year | 42/48 | €343,142 | €473,403 | +€130,261 | +38.0% |
| Trade debts | 44 | €203,832 | €201,761 | -€2,070 | -1.0% |
| Suppliers | 440/4 | €203,832 | €201,761 | -€2,070 | -1.0% |
| Taxes, remuneration and social security | 45 | €56,547 | €68,024 | +€11,477 | +20.3% |
| Taxes | 450/3 | €5,306 | €8,469 | +€3,163 | +59.6% |
| Remuneration and social security | 454/9 | €51,241 | €59,555 | +€8,315 | +16.2% |
| Other amounts payable | 47/48 | €82,763 | €203,617 | +€120,854 | +146.0% |
| Non-recurring operating income | 76A | €14,292 | - | -€14,292 | |
| Remuneration, social security and pensions | 62 | €466,501 | €523,955 | +€57,454 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,984 | €112,898 | -€21,086 | -15.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €29,358 | -€29,358 | -€58,716 | |
| Other operating charges | 640/8 | €708,020 | €655,604 | -€52,416 | -7.4% |
| Non-recurring operating charges | 66A | - | €10,263 | +€10,263 | |
| Gross operating margin | 9900 | €1,246,612 | €892,494 | -€354,118 | -28.4% |
| Operating profit (loss) | 9901 | -€91,251 | -€380,868 | -€289,617 | -317.4% |
| Financial income | 75/76B | €3 | €458 | +€455 | +16142.6% |
| Recurring financial income | 75 | €3 | €458 | +€455 | +16142.6% |
| Financial charges | 65/66B | €14,548 | €11,135 | -€3,413 | -23.5% |
| Recurring financial charges | 65 | €14,548 | €11,135 | -€3,413 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€105,797 | -€391,545 | -€285,748 | -270.1% |
| Profit (loss) for the period | 9904 | -€105,797 | -€391,545 | -€285,748 | -270.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,797 | -€391,545 | -€285,748 | -270.1% |
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 7 October 2026 via checked.be.