CAPPELLE: 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.
CAPPELLE
Largest movements
- Current investments +€152,703
up €152,703 (+4.7%), from €3.3m to €3.4m
- Receivables within one year +€41,371
up €41,371 (+152%), from €27,236 to €68,606
of which Trade receivables: +€33,570
- Reserves +€132,155
up €132,155 (+3.9%), from €3.4m to €3.6m
of which Distributable reserves: +€132,155
- Trade debts +€54,061
up €54,061 (+428%), from €12,637 to €66,697
- Gross operating margin +€7,519
up €7,519 (+13.4%), from €56,165 to €63,684
- Financial charges -€5,431
down €5,431 (-47.5%), from €11,442 to €6,010
of which Non-recurring financial charges: -€4,520
- Depreciation +€4,758
up €4,758 (+18.1%), from €26,230 to €30,988
- Taxes +€1,507
up €1,507 (+3.0%), from €50,498 to €52,005
- Financial income +€1,086
up €1,086 (+0.7%), from €165,017 to €166,103
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 | €3,558,228 | €3,743,765 | +€185,537 | +5.2% |
| Fixed assets | 21/28 | €197,133 | €205,424 | +€8,290 | +4.2% |
| Tangible fixed assets | 22/27 | €197,133 | €205,424 | +€8,290 | +4.2% |
| Land and buildings | 22 | €155,043 | €156,757 | +€1,715 | +1.1% |
| Plant, machinery and equipment | 23 | €271 | €19,854 | +€19,584 | +7,233% |
| Furniture and vehicles | 24 | €41,820 | €28,812 | -€13,008 | -31.1% |
| Current assets | 29/58 | €3,361,094 | €3,538,341 | +€177,246 | +5.3% |
| Stocks and contracts in progress | 3 | €4,987 | €7,315 | +€2,328 | +46.7% |
| Stocks | 30/36 | €4,987 | €7,315 | +€2,328 | +46.7% |
| Amounts receivable within one year | 40/41 | €27,236 | €68,606 | +€41,371 | +152% |
| Trade receivables | 40 | €20,587 | €54,157 | +€33,570 | +163% |
| Other amounts receivable | 41 | €6,648 | €14,449 | +€7,801 | +117% |
| Current investments | 50/53 | €3,250,525 | €3,403,227 | +€152,703 | +4.7% |
| Cash at bank and in hand | 54/58 | €54,798 | €35,554 | -€19,244 | -35.1% |
| Deferred charges and accrued income | 490/1 | €23,549 | €23,638 | +€89 | +0.4% |
| Total equity and liabilities | 10/49 | €3,558,228 | €3,743,765 | +€185,537 | +5.2% |
| Equity | 10/15 | €3,540,417 | €3,672,572 | +€132,155 | +3.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,421,896 | €3,554,051 | +€132,155 | +3.9% |
| Tax-exempt reserves | 132 | €56,375 | €56,375 | = | 0.0% |
| Distributable reserves | 133 | €3,365,521 | €3,497,676 | +€132,155 | +3.9% |
| Profit (loss) carried forward | 14 | €56,521 | €56,521 | = | 0.0% |
| Amounts payable | 17/49 | €17,811 | €71,192 | +€53,381 | +300% |
| Amounts payable within one year | 42/48 | €17,811 | €71,192 | +€53,381 | +300% |
| Trade debts | 44 | €12,637 | €66,697 | +€54,061 | +428% |
| Suppliers | 440/4 | €12,637 | €66,697 | +€54,061 | +428% |
| Taxes, remuneration and social security | 45 | €5,174 | €4,495 | -€679 | -13.1% |
| Remuneration and social security | 454/9 | €5,174 | €4,495 | -€679 | -13.1% |
| Non-recurring operating income | 76A | €182 | - | -€182 | |
| Remuneration, social security and pensions | 62 | €2,548 | €2,244 | -€304 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,230 | €30,988 | +€4,758 | +18.1% |
| Other operating charges | 640/8 | €6,190 | €6,385 | +€194 | +3.1% |
| Gross operating margin | 9900 | €56,165 | €63,684 | +€7,519 | +13.4% |
| Operating profit (loss) | 9901 | €21,197 | €24,067 | +€2,870 | +13.5% |
| Financial income | 75/76B | €165,017 | €166,103 | +€1,086 | +0.7% |
| Recurring financial income | 75 | €165,017 | €166,103 | +€1,086 | +0.7% |
| Financial charges | 65/66B | €11,442 | €6,010 | -€5,431 | -47.5% |
| Recurring financial charges | 65 | €6,921 | €6,010 | -€911 | -13.2% |
| Non-recurring financial charges | 66B | €4,520 | - | -€4,520 | |
| Profit (loss) for the period before taxes | 9903 | €174,772 | €184,160 | +€9,388 | +5.4% |
| Income taxes | 67/77 | €50,498 | €52,005 | +€1,507 | +3.0% |
| Profit (loss) for the period | 9904 | €124,274 | €132,155 | +€7,881 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €124,274 | €132,155 | +€7,881 | +6.3% |
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 15 October 2026 via checked.be.