CAPNOR: 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.
CAPNOR
Largest movements
- Financial fixed assets +€16.5m
up €16.5m (+542.1%), from €3.0m to €19.5m
- Debts after one year +€16.4m
up €16.4m (+587.0%), from €2.8m to €19.2m
- Other debts +€302,622
up €302,622 (+118.7%), from €255,042 to €557,664
- Financial charges +€184,519
up €184,519 (+579.4%), from €31,849 to €216,368
- Gross operating margin +€161,644
up €161,644 (+69.8%), from €231,738 to €393,382
- Financial income +€31,857
up €31,857 (+124.5%), from €25,592 to €57,449
of which Non-recurring financial income: +€18,273
- Depreciation +€28,778
up €28,778 (+692.7%), from €4,154 to €32,932
- Other operating charges +€9,385
up €9,385 (+1692.9%), from €554 to €9,940
From the 2023 result to the 2024 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,299,964 | €19,916,361 | +€16.6m | +503.5% |
| Fixed assets | 21/28 | €3,041,917 | €19,559,012 | +€16.5m | +543.0% |
| Tangible fixed assets | 22/27 | €5,931 | €65,697 | +€59,766 | +1007.7% |
| Furniture and vehicles | 24 | €5,931 | €65,697 | +€59,766 | +1007.7% |
| Financial fixed assets | 28 | €3,035,986 | €19,493,315 | +€16.5m | +542.1% |
| Current assets | 29/58 | €258,047 | €357,350 | +€99,303 | +38.5% |
| Amounts receivable within one year | 40/41 | €124,156 | €151,028 | +€26,873 | +21.6% |
| Trade receivables | 40 | €98,147 | €97,817 | -€330 | -0.3% |
| Other amounts receivable | 41 | €26,009 | €53,211 | +€27,202 | +104.6% |
| Cash at bank and in hand | 54/58 | €14,531 | €82,545 | +€68,014 | +468.1% |
| Deferred charges and accrued income | 490/1 | €119,360 | €123,777 | +€4,416 | +3.7% |
| Total equity and liabilities | 10/49 | €3,299,964 | €19,916,361 | +€16.6m | +503.5% |
| Equity | 10/15 | €168,513 | €10,000 | -€158,513 | -94.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,513 | - | -€158,513 | |
| Amounts payable | 17/49 | €3,131,451 | €19,906,361 | +€16.8m | +535.7% |
| Amounts payable after more than one year | 17 | €2,800,000 | €19,236,937 | +€16.4m | +587.0% |
| Financial debts | 170/4 | €2,800,000 | €19,236,937 | +€16.4m | +587.0% |
| Amounts payable within one year | 42/48 | €331,376 | €668,633 | +€337,257 | +101.8% |
| Trade debts | 44 | €1,876 | €12,368 | +€10,492 | +559.2% |
| Suppliers | 440/4 | €1,876 | €12,368 | +€10,492 | +559.2% |
| Taxes, remuneration and social security | 45 | €74,457 | €98,601 | +€24,143 | +32.4% |
| Taxes | 450/3 | €74,457 | €98,601 | +€24,143 | +32.4% |
| Other amounts payable | 47/48 | €255,042 | €557,664 | +€302,622 | +118.7% |
| Accrued charges and deferred income | 492/3 | €75 | €792 | +€717 | +956.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,154 | €32,932 | +€28,778 | +692.7% |
| Other operating charges | 640/8 | €554 | €9,940 | +€9,385 | +1692.9% |
| Gross operating margin | 9900 | €231,738 | €393,382 | +€161,644 | +69.8% |
| Operating profit (loss) | 9901 | €227,029 | €350,510 | +€123,481 | +54.4% |
| Financial income | 75/76B | €25,592 | €57,449 | +€31,857 | +124.5% |
| Recurring financial income | 75 | €25,592 | €39,176 | +€13,584 | +53.1% |
| Non-recurring financial income | 76B | - | €18,273 | +€18,273 | |
| Financial charges | 65/66B | €31,849 | €216,368 | +€184,519 | +579.4% |
| Recurring financial charges | 65 | €31,849 | €216,368 | +€184,519 | +579.4% |
| Profit (loss) for the period before taxes | 9903 | €220,772 | €191,592 | -€29,181 | -13.2% |
| Income taxes | 67/77 | €59,790 | €59,999 | +€209 | +0.3% |
| Profit (loss) for the period | 9904 | €160,982 | €131,592 | -€29,390 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €160,982 | €131,592 | -€29,390 | -18.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.