Cappaert: 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.
Cappaert
Largest movements
- Cash +€7,098
up €7,098 (+49.6%), from €14,303 to €21,401
mainly Net result for the year (+€6,503) and Deferred charges and accrued income (+€1,813)
- Deferred charges and accrued income -€1,813
down €1,813 (-19.6%), from €9,259 to €7,446
- Tangible fixed assets -€1,624
down €1,624 (-29.8%), from €5,460 to €3,835
of which Furniture and vehicles: -€818
- Profit (loss) carried forward +€6,503
up €6,503 (+33.9%), from €19,164 to €25,667
- Tax, wage and social debts -€2,063
down €2,063 (-93.7%), from €2,202 to €139
- Other debts -€872
no longer reported in 2025 (was €872)
- Gross operating margin +€20,379
up €20,379, from -€7,707 to €12,672
- Taxes +€961
up €961 (+538.5%), from €178 to €1,139
- Financial charges -€270
down €270 (-11.2%), from €2,397 to €2,128
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 | €29,021 | €32,846 | +€3,825 | +13.2% |
| Fixed assets | 21/28 | €5,460 | €3,835 | -€1,624 | -29.8% |
| Tangible fixed assets | 22/27 | €5,460 | €3,835 | -€1,624 | -29.8% |
| Plant, machinery and equipment | 23 | €1,815 | €1,271 | -€545 | -30.0% |
| Furniture and vehicles | 24 | €1,604 | €786 | -€818 | -51.0% |
| Other tangible fixed assets | 26 | €2,041 | €1,778 | -€262 | -12.8% |
| Current assets | 29/58 | €23,562 | €29,011 | +€5,449 | +23.1% |
| Amounts receivable within one year | 40/41 | - | €165 | +€165 | |
| Other amounts receivable | 41 | - | €165 | +€165 | |
| Cash at bank and in hand | 54/58 | €14,303 | €21,401 | +€7,098 | +49.6% |
| Deferred charges and accrued income | 490/1 | €9,259 | €7,446 | -€1,813 | -19.6% |
| Total equity and liabilities | 10/49 | €29,021 | €32,846 | +€3,825 | +13.2% |
| Equity | 10/15 | €25,716 | €32,219 | +€6,503 | +25.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €352 | €352 | = | 0.0% |
| Distributable reserves | 133 | €352 | €352 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,164 | €25,667 | +€6,503 | +33.9% |
| Amounts payable | 17/49 | €3,305 | €628 | -€2,678 | -81.0% |
| Amounts payable within one year | 42/48 | €3,305 | €628 | -€2,678 | -81.0% |
| Trade debts | 44 | €232 | €489 | +€257 | +111.0% |
| Suppliers | 440/4 | €232 | €489 | +€257 | +111.0% |
| Taxes, remuneration and social security | 45 | €2,202 | €139 | -€2,063 | -93.7% |
| Taxes | 450/3 | €2,202 | €139 | -€2,063 | -93.7% |
| Other amounts payable | 47/48 | €872 | - | -€872 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,732 | €1,624 | -€108 | -6.2% |
| Other operating charges | 640/8 | €1,157 | €1,283 | +€126 | +10.9% |
| Gross operating margin | 9900 | -€7,707 | €12,672 | +€20,379 | |
| Operating profit (loss) | 9901 | -€10,597 | €9,765 | +€20,362 | |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €2,397 | €2,128 | -€270 | -11.2% |
| Recurring financial charges | 65 | €2,397 | €2,128 | -€270 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,994 | €7,642 | +€20,636 | |
| Income taxes | 67/77 | €178 | €1,139 | +€961 | +538.5% |
| Profit (loss) for the period | 9904 | -€13,172 | €6,503 | +€19,675 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,172 | €6,503 | +€19,675 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.