Capsa BE: 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.
Capsa BE
Largest movements
- Financial fixed assets -€500,000
down €500,000 (-10.5%), from €4.7m to €4.2m
- Tangible fixed assets -€57,701
down €57,701 (-12.2%), from €474,134 to €416,433
of which Plant, machinery and equipment: -€46,000
- Reserves -€528,591
down €528,591 (-13.0%), from €4.1m to €3.5m
of which Distributable reserves: -€487,236
- Financial income -€72,745
down €72,745 (-24.1%), from €301,742 to €228,997
- Gross operating margin +€18,191
up €18,191 (+3.6%), from €502,232 to €520,423
- Taxes -€13,148
down €13,148 (-7.1%), from €185,457 to €172,309
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 | €5,242,562 | €4,697,047 | -€545,515 | -10.4% |
| Fixed assets | 21/28 | €5,222,560 | €4,664,859 | -€557,701 | -10.7% |
| Tangible fixed assets | 22/27 | €474,134 | €416,433 | -€57,701 | -12.2% |
| Land and buildings | 22 | €275,306 | €275,306 | = | 0.0% |
| Plant, machinery and equipment | 23 | €172,500 | €126,500 | -€46,000 | -26.7% |
| Furniture and vehicles | 24 | €26,327 | €14,626 | -€11,701 | -44.4% |
| Financial fixed assets | 28 | €4,748,427 | €4,248,427 | -€500,000 | -10.5% |
| Current assets | 29/58 | €20,002 | €32,187 | +€12,186 | +60.9% |
| Cash at bank and in hand | 54/58 | €20,002 | €32,187 | +€12,186 | +60.9% |
| Total equity and liabilities | 10/49 | €5,242,562 | €4,697,047 | -€545,515 | -10.4% |
| Equity | 10/15 | €4,134,827 | €3,606,236 | -€528,591 | -12.8% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | €4,066,277 | €3,537,686 | -€528,591 | -13.0% |
| Non-distributable reserves | 130/1 | €6,855 | €0 | -€6,855 | -100.0% |
| Reserves not available under the articles | 1311 | €6,855 | €0 | -€6,855 | -100.0% |
| Tax-exempt reserves | 132 | €157,202 | €122,702 | -€34,500 | -21.9% |
| Distributable reserves | 133 | €3,902,220 | €3,414,984 | -€487,236 | -12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €52,401 | €40,901 | -€11,500 | -21.9% |
| Deferred taxes | 168 | €52,401 | €40,901 | -€11,500 | -21.9% |
| Amounts payable | 17/49 | €1,055,335 | €1,049,911 | -€5,424 | -0.5% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,335 | €49,911 | -€5,424 | -9.8% |
| Trade debts | 44 | €3,679 | €1,203 | -€2,476 | -67.3% |
| Suppliers | 440/4 | €3,679 | €1,203 | -€2,476 | -67.3% |
| Taxes, remuneration and social security | 45 | €51,656 | €48,708 | -€2,948 | -5.7% |
| Taxes | 450/3 | €51,656 | €48,708 | -€2,948 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,701 | €57,701 | = | 0.0% |
| Other operating charges | 640/8 | €1,880 | €1,726 | -€154 | -8.2% |
| Gross operating margin | 9900 | €502,232 | €520,423 | +€18,191 | +3.6% |
| Operating profit (loss) | 9901 | €442,651 | €460,996 | +€18,345 | +4.1% |
| Financial income | 75/76B | €301,742 | €228,997 | -€72,745 | -24.1% |
| Recurring financial income | 75 | €301,742 | €228,997 | -€72,745 | -24.1% |
| Financial charges | 65/66B | €59,216 | €57,776 | -€1,440 | -2.4% |
| Recurring financial charges | 65 | €59,216 | €57,776 | -€1,440 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €685,177 | €632,218 | -€52,959 | -7.7% |
| Transfer from deferred taxes | 780 | €11,500 | €11,500 | = | 0.0% |
| Income taxes | 67/77 | €185,457 | €172,309 | -€13,148 | -7.1% |
| Profit (loss) for the period | 9904 | €511,220 | €471,409 | -€39,811 | -7.8% |
| Transfer from tax-exempt reserves | 789 | €34,500 | €34,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €545,720 | €505,909 | -€39,811 | -7.3% |
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 3 October 2026 via checked.be.