Capo Invest: what changed
What changed
Capo Invest
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€103,800
2024 · €84,007+€19,793
Equity
€199
2024 · €28,399-€28,200
Cash
€128,919
2024 · €3,539+€125,380
Balance sheet total
€284,606
2024 · €151,189+€133,417
Largest movements
Assets
- Cash +€125,380
up €125,380 (+3,543%), from €3,539 to €128,919
mainly Other debts (+€168,390) and Net result for the year (+€103,800)
- Receivables within one year +€9,526
up €9,526 (+31.8%), from €29,971 to €39,497
of which Other amounts receivable: +€39,497
Equity and liabilities
- Other debts +€168,390
up €168,390 (+628%), from €26,834 to €195,224
- Reserves -€52,000
down €52,000 (-23.9%), from €217,167 to €165,167
- Profit (loss) carried forward +€23,800
up €23,800 (+12.2%), from -€194,969 to -€171,168
- Current portion of long-term debt +€13,253
up €13,253 (+115%), from €11,495 to €24,748
- Debts after one year -€11,973
down €11,973 (-23.0%), from €52,114 to €40,141
Income statement
- Gross operating margin +€16,728
up €16,728 (+12.5%), from €133,999 to €150,728
- Taxes +€3,865
up €3,865 (+11.0%), from €35,240 to €39,106
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€84,007
Gross operating margin
+€16,728
Depreciation
-€141
Other operating charges
+€124
Other operating items
+€5,632
Financial income
+€534
Financial charges
+€781
Taxes
-€3,865
Result 2025
€103,800
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€253,644
Investment
+€2,457
Financing
-€130,720
Cash 2024
€3,539
From operations (derived)
+€253,644
Net result for the year
+€103,800
Depreciation
+€712
Receivables within one year
-€9,526
Deferred charges and accrued income
-€1,680
Trade debts
+€2,015
Tax, wage and social debts
-€10,576
Other debts
+€168,390
Accrued charges and deferred income
+€508
Investment (derived)
+€2,457
Current investments
+€2,457
Financing
-€130,720
Debts after one year
-€11,973
Current portion of long-term debt
+€13,253
Contributions, distributions and other
-€132,000
Cash 2025
€128,919
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,189 | €284,606 | +€133,417 | +88.2% |
| Fixed assets | 21/28 | €115,013 | €114,301 | -€712 | -0.6% |
| Tangible fixed assets | 22/27 | €2,513 | €1,801 | -€712 | -28.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | - | €1,549 | +€1,549 | |
| Furniture and vehicles | 24 | €2,513 | €252 | -€2,262 | -90.0% |
| Financial fixed assets | 28 | €112,500 | €112,500 | = | 0.0% |
| Current assets | 29/58 | €36,176 | €170,305 | +€134,130 | +371% |
| Amounts receivable within one year | 40/41 | €29,971 | €39,497 | +€9,526 | +31.8% |
| Trade receivables | 40 | €29,971 | €0 | -€29,971 | -100% |
| Other amounts receivable | 41 | €0 | €39,497 | +€39,497 | |
| Current investments | 50/53 | €2,457 | €0 | -€2,457 | -100% |
| Cash at bank and in hand | 54/58 | €3,539 | €128,919 | +€125,380 | +3,543% |
| Deferred charges and accrued income | 490/1 | €209 | €1,889 | +€1,680 | +804% |
| Total equity and liabilities | 10/49 | €151,189 | €284,606 | +€133,417 | +88.2% |
| Equity | 10/15 | €28,399 | €199 | -€28,200 | -99.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €217,167 | €165,167 | -€52,000 | -23.9% |
| Distributable reserves | 133 | €217,167 | €165,167 | -€52,000 | -23.9% |
| Profit (loss) carried forward | 14 | -€194,969 | -€171,168 | +€23,800 | +12.2% |
| Amounts payable | 17/49 | €122,790 | €284,407 | +€161,617 | +132% |
| Amounts payable after more than one year | 17 | €52,114 | €40,141 | -€11,973 | -23.0% |
| Financial debts | 170/4 | €52,114 | €40,141 | -€11,973 | -23.0% |
| Amounts payable within one year | 42/48 | €69,519 | €242,602 | +€173,082 | +249% |
| Current portion of amounts payable after more than one year | 42 | €11,495 | €24,748 | +€13,253 | +115% |
| Trade debts | 44 | €5,776 | €7,791 | +€2,015 | +34.9% |
| Suppliers | 440/4 | €5,776 | €7,791 | +€2,015 | +34.9% |
| Taxes, remuneration and social security | 45 | €25,414 | €14,839 | -€10,576 | -41.6% |
| Taxes | 450/3 | €25,414 | €14,839 | -€10,576 | -41.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €26,834 | €195,224 | +€168,390 | +628% |
| Accrued charges and deferred income | 492/3 | €1,156 | €1,664 | +€508 | +43.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €571 | €712 | +€141 | +24.7% |
| Other operating charges | 640/8 | €1,153 | €1,029 | -€124 | -10.7% |
| Non-recurring operating charges | 66A | €5,632 | €0 | -€5,632 | -100% |
| Gross operating margin | 9900 | €133,999 | €150,728 | +€16,728 | +12.5% |
| Operating profit (loss) | 9901 | €126,643 | €148,986 | +€22,343 | +17.6% |
| Financial income | 75/76B | €0 | €534 | +€534 | +1,335,875% |
| Recurring financial income | 75 | €0 | €534 | +€534 | +1,335,875% |
| Financial charges | 65/66B | €7,396 | €6,615 | -€781 | -10.6% |
| Recurring financial charges | 65 | €7,396 | €6,615 | -€781 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €119,248 | €142,906 | +€23,658 | +19.8% |
| Income taxes | 67/77 | €35,240 | €39,106 | +€3,865 | +11.0% |
| Profit (loss) for the period | 9904 | €84,007 | €103,800 | +€19,793 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €84,007 | €103,800 | +€19,793 | +23.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.