CAPIX: 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.
CAPIX
Largest movements
- Receivables within one year -€10,979
down €10,979 (-68.9%), from €15,928 to €4,949
of which Trade receivables: -€7,994
- Stocks and contracts -€4,759
down €4,759 (-20.6%), from €23,153 to €18,393
- Tangible fixed assets +€2,553
up €2,553 (+14.6%), from €17,510 to €20,063
of which Plant, machinery and equipment: +€2,563
- Deferred charges and accrued income +€1,469
up €1,469 (+294.8%), from €498 to €1,968
- Other debts +€18,432
up €18,432 (+37.5%), from €49,098 to €67,530
- Profit (loss) carried forward -€17,067
down €17,067 (-60.6%), from -€28,150 to -€45,217
- Short-term financial debts -€9,845
no longer reported in 2025 (was €9,845)
- Tax, wage and social debts -€2,011
down €2,011 (-77.8%), from €2,586 to €575
- Trade debts -€755
down €755 (-20.3%), from €3,714 to €2,960
- Gross operating margin -€7,083
down €7,083 (-114.6%), from -€6,182 to -€13,265
- Financial charges +€810
up €810 (+34.7%), from €2,331 to €3,141
- Financial income +€557
up €557 (+803.8%), from €69 to €626
- Depreciation -€225
down €225 (-60.5%), from €373 to €147
- Write-downs -€167
no longer reported in 2025 (was €167)
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 | €58,252 | €47,007 | -€11,245 | -19.3% |
| Fixed assets | 21/28 | €18,260 | €21,137 | +€2,876 | +15.8% |
| Intangible fixed assets | 21 | - | €323 | +€323 | |
| Tangible fixed assets | 22/27 | €17,510 | €20,063 | +€2,553 | +14.6% |
| Plant, machinery and equipment | 23 | €0 | €2,563 | +€2,563 | |
| Furniture and vehicles | 24 | €17,510 | €17,500 | -€10 | -0.1% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €39,992 | €25,870 | -€14,121 | -35.3% |
| Stocks and contracts in progress | 3 | €23,153 | €18,393 | -€4,759 | -20.6% |
| Stocks | 30/36 | €23,153 | €18,393 | -€4,759 | -20.6% |
| Amounts receivable within one year | 40/41 | €15,928 | €4,949 | -€10,979 | -68.9% |
| Trade receivables | 40 | €12,943 | €4,949 | -€7,994 | -61.8% |
| Other amounts receivable | 41 | €2,985 | - | -€2,985 | |
| Cash at bank and in hand | 54/58 | €413 | €561 | +€148 | +35.8% |
| Deferred charges and accrued income | 490/1 | €498 | €1,968 | +€1,469 | +294.8% |
| Total equity and liabilities | 10/49 | €58,252 | €47,007 | -€11,245 | -19.3% |
| Equity | 10/15 | -€6,991 | -€24,058 | -€17,067 | -244.1% |
| Contributions | 10/11 | €18,642 | €18,642 | = | 0.0% |
| Reserves | 13 | €2,517 | €2,517 | = | 0.0% |
| Non-distributable reserves | 130/1 | €162 | €162 | = | 0.0% |
| Reserves not available under the articles | 1311 | €162 | €162 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,300 | €2,300 | = | 0.0% |
| Distributable reserves | 133 | €55 | €55 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,150 | -€45,217 | -€17,067 | -60.6% |
| Amounts payable | 17/49 | €65,243 | €71,065 | +€5,822 | +8.9% |
| Amounts payable within one year | 42/48 | €65,243 | €71,065 | +€5,822 | +8.9% |
| Financial debts | 43 | €9,845 | - | -€9,845 | |
| Credit institutions | 430/8 | €9,845 | - | -€9,845 | |
| Trade debts | 44 | €3,714 | €2,960 | -€755 | -20.3% |
| Suppliers | 440/4 | €3,714 | €2,960 | -€755 | -20.3% |
| Taxes, remuneration and social security | 45 | €2,586 | €575 | -€2,011 | -77.8% |
| Taxes | 450/3 | €2,586 | €575 | -€2,011 | -77.8% |
| Other amounts payable | 47/48 | €49,098 | €67,530 | +€18,432 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €373 | €147 | -€225 | -60.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €167 | - | -€167 | |
| Other operating charges | 640/8 | €819 | €959 | +€140 | +17.1% |
| Gross operating margin | 9900 | -€6,182 | -€13,265 | -€7,083 | -114.6% |
| Operating profit (loss) | 9901 | -€7,540 | -€14,371 | -€6,831 | -90.6% |
| Financial income | 75/76B | €69 | €626 | +€557 | +803.8% |
| Recurring financial income | 75 | €69 | €626 | +€557 | +803.8% |
| Financial charges | 65/66B | €2,331 | €3,141 | +€810 | +34.7% |
| Recurring financial charges | 65 | €2,331 | €3,141 | +€810 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,803 | -€16,887 | -€7,084 | -72.3% |
| Income taxes | 67/77 | €168 | €180 | +€12 | +6.9% |
| Profit (loss) for the period | 9904 | -€9,971 | -€17,067 | -€7,096 | -71.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,971 | -€17,067 | -€7,096 | -71.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.