Capivara Capital: 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.
Capivara Capital
Largest movements
- Cash -€851,696
down €851,696 (-73.8%), from €1.2m to €302,561
mainly Other debts (-€1.0m) and Current investments (-€200,000)
- Current investments +€200,000
up €200,000 (+16.0%), from €1.3m to €1.5m
- Receivables after one year -€41,855
no longer reported in 2025 (was €41,855)
of which Other amounts receivable: -€38,659
- Other debts -€1.0m
down €1.0m (-99.7%), from €1.0m to €2,579
- Profit (loss) carried forward +€326,332
up €326,332 (+21.7%), from €1.5m to €1.8m
- Financial income -€3.7m
down €3.7m (-91.6%), from €4.0m to €339,619
of which Non-recurring financial income: -€3.7m
- Gross operating margin +€57,898
up €57,898 (+78.9%), from -€73,375 to -€15,477
- Taxes -€8,821
down €8,821, from €4,417 to -€4,404
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 | €2,532,682 | €1,838,583 | -€694,099 | -27.4% |
| Fixed assets | 21/28 | €86,570 | €67,325 | -€19,245 | -22.2% |
| Tangible fixed assets | 22/27 | €1,636 | €1,325 | -€311 | -19.0% |
| Other tangible fixed assets | 26 | €1,636 | €1,325 | -€311 | -19.0% |
| Financial fixed assets | 28 | €84,934 | €66,000 | -€18,934 | -22.3% |
| Current assets | 29/58 | €2,446,112 | €1,771,258 | -€674,855 | -27.6% |
| Amounts receivable after more than one year | 29 | €41,855 | - | -€41,855 | |
| Trade receivables | 290 | €3,196 | - | -€3,196 | |
| Other amounts receivable | 291 | €38,659 | - | -€38,659 | |
| Amounts receivable within one year | 40/41 | - | €18,697 | +€18,697 | |
| Trade receivables | 40 | - | €116 | +€116 | |
| Other amounts receivable | 41 | - | €18,581 | +€18,581 | |
| Current investments | 50/53 | €1,250,000 | €1,450,000 | +€200,000 | +16.0% |
| Cash at bank and in hand | 54/58 | €1,154,257 | €302,561 | -€851,696 | -73.8% |
| Total equity and liabilities | 10/49 | €2,532,682 | €1,838,583 | -€694,099 | -27.4% |
| Equity | 10/15 | €1,504,605 | €1,830,937 | +€326,332 | +21.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €290 | €290 | = | 0.0% |
| Distributable reserves | 133 | €290 | €290 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,501,315 | €1,827,647 | +€326,332 | +21.7% |
| Amounts payable | 17/49 | €1,028,077 | €7,646 | -€1.0m | -99.3% |
| Amounts payable within one year | 42/48 | €1,028,077 | €7,646 | -€1.0m | -99.3% |
| Financial debts | 43 | €522 | €97 | -€425 | -81.4% |
| Credit institutions | 430/8 | €522 | €97 | -€425 | -81.4% |
| Trade debts | 44 | €5,003 | €4,970 | -€33 | -0.7% |
| Suppliers | 440/4 | €5,003 | €4,970 | -€33 | -0.7% |
| Other amounts payable | 47/48 | €1,022,552 | €2,579 | -€1.0m | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,816 | €1,137 | -€680 | -37.4% |
| Other operating charges | 640/8 | €580 | €757 | +€177 | +30.5% |
| Gross operating margin | 9900 | -€73,375 | -€15,477 | +€57,898 | +78.9% |
| Operating profit (loss) | 9901 | -€75,771 | -€17,371 | +€58,401 | +77.1% |
| Financial income | 75/76B | €4,026,845 | €339,619 | -€3.7m | -91.6% |
| Recurring financial income | 75 | €14,724 | €8,830 | -€5,894 | -40.0% |
| Non-recurring financial income | 76B | €4,012,121 | €330,789 | -€3.7m | -91.8% |
| Financial charges | 65/66B | €394 | €320 | -€73 | -18.6% |
| Recurring financial charges | 65 | €394 | €320 | -€73 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €3,950,680 | €321,928 | -€3.6m | -91.9% |
| Income taxes | 67/77 | €4,417 | -€4,404 | -€8,821 | |
| Profit (loss) for the period | 9904 | €3,946,263 | €326,332 | -€3.6m | -91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,946,263 | €326,332 | -€3.6m | -91.7% |
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 24 October 2026 via checked.be.