CAPITOLE: 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.
What changed
CAPITOLE
NACE 90.311, Arts creation and performing arts activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€142,526
2024 · €80,482-€223,008
Equity
€1.6m
2024 · €1.8m-€213,153
Cash
€12,160
2024 · €23,944-€11,784
Balance sheet total
€8.0m
2024 · €6.2m+€1.7m
Largest movements
Assets
- Tangible fixed assets +€1.2m
up €1.2m (+54.1%), from €2.2m to €3.4m
of which Land and buildings: +€1.2m
- Receivables within one year +€484,915
up €484,915 (+12.5%), from €3.9m to €4.4m
of which Other amounts receivable: +€367,790
Equity and liabilities
- Short-term financial debts +€1.6m
new in 2025: €1.6m
- Other debts +€501,615
up €501,615 (+72.9%), from €688,207 to €1.2m
- Current portion of long-term debt -€283,230
down €283,230 (-59.8%), from €473,663 to €190,433
- Trade debts +€140,728
up €140,728 (+54.1%), from €259,895 to €400,623
- Profit (loss) carried forward -€81,360
new in 2025: -€81,360
Income statement
- Financial charges +€129,243
up €129,243 (+140.0%), from €92,336 to €221,579
- Purchases and services +€98,704
up €98,704 (+44.7%), from €220,896 to €319,600
- Gross operating margin -€87,550
down €87,550 (-14.7%), from €594,314 to €506,765
- Depreciation +€44,909
up €44,909 (+10.7%), from €420,195 to €465,104
- Taxes -€26,828
no longer reported in 2025 (was €26,828)
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.
Result 2024
€80,482
Gross operating margin
-€87,550
Staff costs
+€21,830
Depreciation
-€44,909
Other operating charges
-€9,605
Financial income
-€360
Financial charges
-€129,243
Taxes
+€26,828
Result 2025
-€142,526
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.
From operations
+€400,936
Investment
-€1.7m
Financing
+€1.2m
Cash 2024
€23,944
From operations (derived)
+€400,936
Net result for the year
-€142,526
Depreciation
+€465,104
Receivables within one year
-€484,915
Deferred charges and accrued income
-€72,091
Trade debts
+€140,728
Tax, wage and social debts
-€28,802
Other debts
+€501,615
Accrued charges and deferred income
+€21,823
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€1.2m
Debts after one year
-€42,421
Current portion of long-term debt
-€283,230
Short-term financial debts
+€1.6m
Contributions, distributions and other
-€70,628
Cash 2025
€12,160
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,220,793 | €7,955,166 | +€1.7m | +27.9% |
| Fixed assets | 21/28 | €2,200,767 | €3,389,918 | +€1.2m | +54.0% |
| Tangible fixed assets | 22/27 | €2,199,478 | €3,389,918 | +€1.2m | +54.1% |
| Land and buildings | 22 | €2,198,384 | €3,389,499 | +€1.2m | +54.2% |
| Furniture and vehicles | 24 | €1,094 | €418 | -€675 | -61.7% |
| Financial fixed assets | 28 | €1,289 | - | -€1,289 | |
| Current assets | 29/58 | €4,020,026 | €4,565,248 | +€545,222 | +13.6% |
| Amounts receivable within one year | 40/41 | €3,873,190 | €4,358,106 | +€484,915 | +12.5% |
| Trade receivables | 40 | - | €117,125 | +€117,125 | |
| Other amounts receivable | 41 | €3,873,190 | €4,240,981 | +€367,790 | +9.5% |
| Cash at bank and in hand | 54/58 | €23,944 | €12,160 | -€11,784 | -49.2% |
| Deferred charges and accrued income | 490/1 | €122,892 | €194,983 | +€72,091 | +58.7% |
| Total equity and liabilities | 10/49 | €6,220,793 | €7,955,166 | +€1.7m | +27.9% |
| Equity | 10/15 | €1,833,589 | €1,620,436 | -€213,153 | -11.6% |
| Contributions | 10/11 | €1,476,626 | €1,476,626 | = | 0.0% |
| Capital | 10 | €1,476,626 | €1,476,626 | = | 0.0% |
| Issued capital | 100 | €1,699,730 | €1,699,730 | = | 0.0% |
| Uncalled capital | 101 | €223,104 | €223,104 | = | 0.0% |
| Reserves | 13 | €64,384 | €3,219 | -€61,165 | -95.0% |
| Non-distributable reserves | 130/1 | €3,219 | €3,219 | = | 0.0% |
| Legal reserve | 130 | €3,219 | €3,219 | = | 0.0% |
| Distributable reserves | 133 | €61,165 | - | -€61,165 | |
| Profit (loss) carried forward | 14 | - | -€81,360 | -€81,360 | |
| Investment grants | 15 | €292,578 | €221,951 | -€70,628 | -24.1% |
| Amounts payable | 17/49 | €4,387,204 | €6,334,731 | +€1.9m | +44.4% |
| Amounts payable after more than one year | 17 | €2,807,760 | €2,765,339 | -€42,421 | -1.5% |
| Financial debts | 170/4 | €2,807,760 | €2,765,339 | -€42,421 | -1.5% |
| Amounts payable within one year | 42/48 | €1,453,403 | €3,421,527 | +€2.0m | +135.4% |
| Current portion of amounts payable after more than one year | 42 | €473,663 | €190,433 | -€283,230 | -59.8% |
| Financial debts | 43 | - | €1,637,814 | +€1.6m | |
| Credit institutions | 430/8 | - | €1,637,814 | +€1.6m | |
| Trade debts | 44 | €259,895 | €400,623 | +€140,728 | +54.1% |
| Suppliers | 440/4 | €259,895 | €400,623 | +€140,728 | +54.1% |
| Taxes, remuneration and social security | 45 | €31,638 | €2,836 | -€28,802 | -91.0% |
| Taxes | 450/3 | €26,828 | - | -€26,828 | |
| Remuneration and social security | 454/9 | €4,810 | €2,836 | -€1,975 | -41.1% |
| Other amounts payable | 47/48 | €688,207 | €1,189,822 | +€501,615 | +72.9% |
| Accrued charges and deferred income | 492/3 | €126,041 | €147,864 | +€21,823 | +17.3% |
| Turnover | 70 | €487,362 | €498,636 | +€11,274 | +2.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €220,896 | €319,600 | +€98,704 | +44.7% |
| Remuneration, social security and pensions | 62 | €60,550 | €38,720 | -€21,830 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €420,195 | €465,104 | +€44,909 | +10.7% |
| Other operating charges | 640/8 | €20,386 | €29,991 | +€9,605 | +47.1% |
| Gross operating margin | 9900 | €594,314 | €506,765 | -€87,550 | -14.7% |
| Operating profit (loss) | 9901 | €93,182 | -€27,051 | -€120,233 | |
| Financial income | 75/76B | €106,463 | €106,104 | -€360 | -0.3% |
| Recurring financial income | 75 | €106,463 | €106,104 | -€360 | -0.3% |
| Financial charges | 65/66B | €92,336 | €221,579 | +€129,243 | +140.0% |
| Recurring financial charges | 65 | €92,336 | €221,579 | +€129,243 | +140.0% |
| Profit (loss) for the period before taxes | 9903 | €107,310 | -€142,526 | -€249,836 | |
| Income taxes | 67/77 | €26,828 | - | -€26,828 | |
| Profit (loss) for the period | 9904 | €80,482 | -€142,526 | -€223,008 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,482 | -€142,526 | -€223,008 |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.