CAPPO: 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.
CAPPO
Largest movements
- Tangible fixed assets +€342,377
up €342,377 (+137%), from €250,101 to €592,478
of which Land and buildings: +€321,082
- Cash -€111,510
down €111,510 (-75.7%), from €147,302 to €35,791
mainly Investment in fixed assets (net) (-€373,320) and Tax, wage and social debts (-€37,956)
- Receivables within one year -€44,111
down €44,111 (-100%), from €44,111 to €0
of which Trade receivables: -€43,975
- Receivables after one year -€40,000
down €40,000 (-28.6%), from €140,000 to €100,000
- Debts after one year +€172,490
up €172,490 (+178%), from €96,703 to €269,193
- Reserves +€44,928
up €44,928 (+12.9%), from €348,522 to €393,450
of which Distributable reserves: +€44,928
- Tax, wage and social debts -€37,956
down €37,956 (-59.6%), from €63,694 to €25,738
of which Taxes: -€37,956
- Other debts -€26,973
down €26,973 (-91.9%), from €29,339 to €2,366
- Trade debts -€15,718
down €15,718 (-77.6%), from €20,267 to €4,550
- Gross operating margin +€23,165
up €23,165 (+30.0%), from €77,257 to €100,422
- Other operating charges -€14,744
down €14,744 (-71.9%), from €20,502 to €5,757
- Depreciation +€6,986
up €6,986 (+29.2%), from €23,957 to €30,943
- Financial charges +€1,691
up €1,691 (+18.4%), from €9,177 to €10,868
- Taxes -€1,681
down €1,681 (-16.9%), from €9,932 to €8,252
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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €583,046 | €730,958 | +€147,912 | +25.4% |
| Fixed assets | 21/28 | €250,101 | €592,478 | +€342,377 | +137% |
| Tangible fixed assets | 22/27 | €250,101 | €592,478 | +€342,377 | +137% |
| Land and buildings | 22 | €249,992 | €571,074 | +€321,082 | +128% |
| Plant, machinery and equipment | 23 | €109 | €0 | -€109 | -100% |
| Furniture and vehicles | 24 | - | €21,404 | +€21,404 | |
| Current assets | 29/58 | €332,945 | €138,480 | -€194,465 | -58.4% |
| Amounts receivable after more than one year | 29 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Other amounts receivable | 291 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Amounts receivable within one year | 40/41 | €44,111 | €0 | -€44,111 | -100% |
| Trade receivables | 40 | €43,975 | €0 | -€43,975 | -100% |
| Other amounts receivable | 41 | €136 | €0 | -€136 | -100% |
| Cash at bank and in hand | 54/58 | €147,302 | €35,791 | -€111,510 | -75.7% |
| Deferred charges and accrued income | 490/1 | €1,533 | €2,688 | +€1,156 | +75.4% |
| Total equity and liabilities | 10/49 | €583,046 | €730,958 | +€147,912 | +25.4% |
| Equity | 10/15 | €360,922 | €405,850 | +€44,928 | +12.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €348,522 | €393,450 | +€44,928 | +12.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €346,662 | €391,590 | +€44,928 | +13.0% |
| Amounts payable | 17/49 | €222,124 | €325,108 | +€102,984 | +46.4% |
| Amounts payable after more than one year | 17 | €96,703 | €269,193 | +€172,490 | +178% |
| Financial debts | 170/4 | €96,703 | €269,193 | +€172,490 | +178% |
| Amounts payable within one year | 42/48 | €125,395 | €55,888 | -€69,506 | -55.4% |
| Current portion of amounts payable after more than one year | 42 | €12,094 | €23,234 | +€11,140 | +92.1% |
| Trade debts | 44 | €20,267 | €4,550 | -€15,718 | -77.6% |
| Suppliers | 440/4 | €20,267 | €4,550 | -€15,718 | -77.6% |
| Taxes, remuneration and social security | 45 | €63,694 | €25,738 | -€37,956 | -59.6% |
| Taxes | 450/3 | €63,694 | €25,738 | -€37,956 | -59.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €29,339 | €2,366 | -€26,973 | -91.9% |
| Accrued charges and deferred income | 492/3 | €26 | €27 | +€1 | +3.6% |
| Non-recurring operating income | 76A | €0 | €6,787 | +€6,787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,957 | €30,943 | +€6,986 | +29.2% |
| Other operating charges | 640/8 | €20,502 | €5,757 | -€14,744 | -71.9% |
| Gross operating margin | 9900 | €77,257 | €100,422 | +€23,165 | +30.0% |
| Operating profit (loss) | 9901 | €32,798 | €63,722 | +€30,924 | +94.3% |
| Financial income | 75/76B | €342 | €326 | -€16 | -4.6% |
| Recurring financial income | 75 | €342 | €326 | -€16 | -4.6% |
| Financial charges | 65/66B | €9,177 | €10,868 | +€1,691 | +18.4% |
| Recurring financial charges | 65 | €9,177 | €10,868 | +€1,691 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €23,963 | €53,180 | +€29,217 | +122% |
| Income taxes | 67/77 | €9,932 | €8,252 | -€1,681 | -16.9% |
| Profit (loss) for the period | 9904 | €14,030 | €44,928 | +€30,897 | +220% |
| Profit (loss) for the period to be appropriated | 9905 | €14,030 | €44,928 | +€30,897 | +220% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.