CAPRESE II: 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.
CAPRESE II
Largest movements
- Receivables within one year -€1.7m
down €1.7m (-87.6%), from €2.0m to €244,302
of which Other amounts receivable: -€1.3m
- Tangible fixed assets -€624,910
down €624,910 (-2.6%), from €24.0m to €23.4m
of which Land and buildings: -€615,701
- Deferred charges and accrued income -€414,525
down €414,525 (-35.5%), from €1.2m to €754,075
- Debts after one year -€4.3m
down €4.3m (-26.0%), from €16.5m to €12.2m
of which Financial debts: -€4.3m
- Other debts +€2.1m
up €2.1m (+956%), from €220,912 to €2.3m
- Short-term financial debts -€719,821
down €719,821 (-100%), from €719,821 to €0
- Profit (loss) carried forward -€423,000
down €423,000 (-15.5%), from -€2.7m to -€3.1m
- Current portion of long-term debt +€374,284
new in 2025: €374,284
- Financial charges +€322,812
up €322,812 (+51.8%), from €623,195 to €946,007
- Gross operating margin -€170,868
down €170,868 (-10.2%), from €1.7m to €1.5m
- Depreciation -€159,782
down €159,782 (-15.2%), from €1.0m to €889,130
- Other operating charges -€49,455
down €49,455 (-26.2%), from €189,045 to €139,591
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 | €28,663,433 | €26,044,556 | -€2.6m | -9.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €24,025,912 | €23,401,002 | -€624,910 | -2.6% |
| Tangible fixed assets | 22/27 | €24,025,912 | €23,401,002 | -€624,910 | -2.6% |
| Land and buildings | 22 | €23,981,651 | €23,365,950 | -€615,701 | -2.6% |
| Furniture and vehicles | 24 | €44,261 | €35,052 | -€9,210 | -20.8% |
| Current assets | 29/58 | €4,637,521 | €2,643,554 | -€2.0m | -43.0% |
| Amounts receivable within one year | 40/41 | €1,966,221 | €244,302 | -€1.7m | -87.6% |
| Trade receivables | 40 | €592,928 | €178,884 | -€414,044 | -69.8% |
| Other amounts receivable | 41 | €1,373,293 | €65,418 | -€1.3m | -95.2% |
| Cash at bank and in hand | 54/58 | €1,502,700 | €1,645,177 | +€142,477 | +9.5% |
| Deferred charges and accrued income | 490/1 | €1,168,600 | €754,075 | -€414,525 | -35.5% |
| Total equity and liabilities | 10/49 | €28,663,433 | €26,044,556 | -€2.6m | -9.1% |
| Equity | 10/15 | €9,774,095 | €9,351,095 | -€423,000 | -4.3% |
| Contributions | 10/11 | €2,780,491 | €2,780,491 | = | 0.0% |
| Capital | 10 | €2,780,491 | €2,780,491 | = | 0.0% |
| Issued capital | 100 | €2,780,491 | €2,780,491 | = | 0.0% |
| Revaluation surpluses | 12 | €8,122,737 | €7,804,213 | -€318,524 | -3.9% |
| Reserves | 13 | €1,592,620 | €1,911,144 | +€318,524 | +20.0% |
| Distributable reserves | 133 | €1,592,620 | €1,911,144 | +€318,524 | +20.0% |
| Profit (loss) carried forward | 14 | -€2,721,754 | -€3,144,754 | -€423,000 | -15.5% |
| Amounts payable | 17/49 | €18,889,339 | €16,693,461 | -€2.2m | -11.6% |
| Amounts payable after more than one year | 17 | €16,483,348 | €12,195,469 | -€4.3m | -26.0% |
| Financial debts | 170/4 | €16,389,726 | €12,101,847 | -€4.3m | -26.2% |
| Other amounts payable | 178/9 | €93,622 | €93,622 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,824,101 | €3,899,636 | +€2.1m | +114% |
| Current portion of amounts payable after more than one year | 42 | - | €374,284 | +€374,284 | |
| Financial debts | 43 | €719,821 | €0 | -€719,821 | -100% |
| Other loans | 439 | €719,821 | €0 | -€719,821 | -100% |
| Trade debts | 44 | €868,943 | €1,180,401 | +€311,458 | +35.8% |
| Suppliers | 440/4 | €868,943 | €1,180,401 | +€311,458 | +35.8% |
| Taxes, remuneration and social security | 45 | €14,425 | €12,144 | -€2,281 | -15.8% |
| Taxes | 450/3 | €14,425 | €12,144 | -€2,281 | -15.8% |
| Other amounts payable | 47/48 | €220,912 | €2,332,807 | +€2.1m | +956% |
| Accrued charges and deferred income | 492/3 | €581,890 | €598,357 | +€16,467 | +2.8% |
| Non-recurring operating income | 76A | €237,914 | €0 | -€237,914 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,048,912 | €889,130 | -€159,782 | -15.2% |
| Other operating charges | 640/8 | €189,045 | €139,591 | -€49,455 | -26.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,683,014 | €1,512,146 | -€170,868 | -10.2% |
| Operating profit (loss) | 9901 | €445,057 | €483,425 | +€38,369 | +8.6% |
| Financial income | 75/76B | €36,533 | €39,582 | +€3,049 | +8.3% |
| Recurring financial income | 75 | €36,533 | €39,582 | +€3,049 | +8.3% |
| Financial charges | 65/66B | €623,195 | €946,007 | +€322,812 | +51.8% |
| Recurring financial charges | 65 | €623,195 | €946,007 | +€322,812 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | -€141,606 | -€423,000 | -€281,394 | -199% |
| Profit (loss) for the period | 9904 | -€141,606 | -€423,000 | -€281,394 | -199% |
| Profit (loss) for the period to be appropriated | 9905 | -€141,606 | -€423,000 | -€281,394 | -199% |
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 29 October 2026 via checked.be.