CAPRA IBEX: 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.
CAPRA IBEX
Largest movements
- Tangible fixed assets +€448,047
up €448,047 (+2,016%), from €22,228 to €470,275
of which Land and buildings: +€449,267
- Cash -€134,748
down €134,748 (-43.0%), from €313,581 to €178,833
mainly Investment in fixed assets (net) (-€506,136) and Receivables within one year (-€57,233)
- Receivables within one year +€57,233
new in 2025: €57,233
of which Trade receivables: +€36,201
- Deferred charges and accrued income -€14,981
no longer reported in 2025 (was €14,981)
- Debts after one year +€323,349
up €323,349 (+313%), from €103,227 to €426,577
- Reserves +€89,374
up €89,374 (+106%), from €84,060 to €173,434
- Profit (loss) carried forward -€43,521
down €43,521 (-48.7%), from €89,374 to €45,853
- Other debts -€32,763
no longer reported in 2025 (was €32,763)
- Current portion of long-term debt +€24,827
up €24,827 (+649%), from €3,824 to €28,651
- Depreciation +€55,776
up €55,776 (+2,411%), from €2,313 to €58,089
- Taxes -€14,617
down €14,617 (-47.4%), from €30,843 to €16,226
- Gross operating margin -€7,221
down €7,221 (-5.6%), from €127,953 to €120,731
- Financial charges -€3,698
down €3,698 (-82.7%), from €4,472 to €774
- Financial income +€1,832
new in 2025: €1,832
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 | €350,790 | €706,341 | +€355,551 | +101% |
| Fixed assets | 21/28 | €22,228 | €470,275 | +€448,047 | +2,016% |
| Tangible fixed assets | 22/27 | €22,228 | €470,275 | +€448,047 | +2,016% |
| Land and buildings | 22 | €20,931 | €470,198 | +€449,267 | +2,146% |
| Plant, machinery and equipment | 23 | €1,297 | €77 | -€1,220 | -94.1% |
| Current assets | 29/58 | €328,562 | €236,066 | -€92,496 | -28.2% |
| Amounts receivable within one year | 40/41 | - | €57,233 | +€57,233 | |
| Trade receivables | 40 | - | €36,201 | +€36,201 | |
| Other amounts receivable | 41 | - | €21,031 | +€21,031 | |
| Cash at bank and in hand | 54/58 | €313,581 | €178,833 | -€134,748 | -43.0% |
| Deferred charges and accrued income | 490/1 | €14,981 | - | -€14,981 | |
| Total equity and liabilities | 10/49 | €350,790 | €706,341 | +€355,551 | +101% |
| Equity | 10/15 | €192,034 | €237,886 | +€45,853 | +23.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,060 | €173,434 | +€89,374 | +106% |
| Distributable reserves | 133 | €84,060 | €173,434 | +€89,374 | +106% |
| Profit (loss) carried forward | 14 | €89,374 | €45,853 | -€43,521 | -48.7% |
| Amounts payable | 17/49 | €158,756 | €468,455 | +€309,698 | +195% |
| Amounts payable after more than one year | 17 | €103,227 | €426,577 | +€323,349 | +313% |
| Financial debts | 170/4 | €103,227 | €426,577 | +€323,349 | +313% |
| Amounts payable within one year | 42/48 | €55,529 | €41,878 | -€13,651 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €3,824 | €28,651 | +€24,827 | +649% |
| Trade debts | 44 | €2,966 | €2,776 | -€190 | -6.4% |
| Suppliers | 440/4 | €2,966 | €2,776 | -€190 | -6.4% |
| Taxes, remuneration and social security | 45 | €15,977 | €10,451 | -€5,525 | -34.6% |
| Taxes | 450/3 | €14,459 | €10,451 | -€4,008 | -27.7% |
| Remuneration and social security | 454/9 | €1,517 | - | -€1,517 | |
| Other amounts payable | 47/48 | €32,763 | - | -€32,763 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,313 | €58,089 | +€55,776 | +2,411% |
| Other operating charges | 640/8 | €950 | €1,622 | +€672 | +70.7% |
| Gross operating margin | 9900 | €127,953 | €120,731 | -€7,221 | -5.6% |
| Operating profit (loss) | 9901 | €124,689 | €61,021 | -€63,668 | -51.1% |
| Financial income | 75/76B | - | €1,832 | +€1,832 | |
| Recurring financial income | 75 | - | €1,832 | +€1,832 | |
| Financial charges | 65/66B | €4,472 | €774 | -€3,698 | -82.7% |
| Recurring financial charges | 65 | €4,472 | €774 | -€3,698 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €120,217 | €62,079 | -€58,139 | -48.4% |
| Income taxes | 67/77 | €30,843 | €16,226 | -€14,617 | -47.4% |
| Profit (loss) for the period | 9904 | €89,374 | €45,853 | -€43,521 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,374 | €45,853 | -€43,521 | -48.7% |
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 18 October 2026 via checked.be.