CAPUCINS S.A.: 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.
What changed
CAPUCINS S.A.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€110,332
2024 · -€120,264+€9,932
Equity
€1.3m
2024 · €1.4m-€110,332
Cash
€67,805
2024 · €36,932+€30,873
Balance sheet total
€4.5m
2024 · €4.7m-€165,279
Largest movements
Assets
- Tangible fixed assets -€189,365
down €189,365 (-4.1%), from €4.7m to €4.5m
of which Land and buildings: -€181,186
Equity and liabilities
- Profit (loss) carried forward -€110,332
down €110,332 (-5.2%), from -€2.1m to -€2.2m
- Debts after one year -€60,000
down €60,000 (-1.8%), from €3.3m to €3.3m
Income statement
- Gross operating margin +€10,169
up €10,169 (+10.2%), from €99,962 to €110,131
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.
Result 2024
-€120,264
Gross operating margin
+€10,169
Depreciation
+€798
Other operating charges
-€949
Financial income
-€5
Financial charges
-€81
Result 2025
-€110,332
raises the resultlowers the result
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.
From operations
+€90,873
Investment
€0
Financing
-€60,000
Cash 2024
€36,932
From operations (derived)
+€90,873
Net result for the year
-€110,332
Depreciation
+€189,365
Receivables within one year
-€549
Deferred charges and accrued income
+€7,336
Trade debts
+€8,069
Tax, wage and social debts
-€883
Accrued charges and deferred income
-€2,132
Financing
-€60,000
Debts after one year
-€60,000
Cash 2025
€67,805
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,700,221 | €4,534,942 | -€165,279 | -3.5% |
| Fixed assets | 21/28 | €4,652,492 | €4,463,127 | -€189,365 | -4.1% |
| Tangible fixed assets | 22/27 | €4,652,292 | €4,462,927 | -€189,365 | -4.1% |
| Land and buildings | 22 | €4,630,850 | €4,449,664 | -€181,186 | -3.9% |
| Plant, machinery and equipment | 23 | €21,443 | €13,263 | -€8,179 | -38.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €47,729 | €71,815 | +€24,086 | +50.5% |
| Amounts receivable within one year | 40/41 | €205 | €754 | +€549 | +268% |
| Trade receivables | 40 | €205 | €754 | +€549 | +268% |
| Cash at bank and in hand | 54/58 | €36,932 | €67,805 | +€30,873 | +83.6% |
| Deferred charges and accrued income | 490/1 | €10,592 | €3,256 | -€7,336 | -69.3% |
| Total equity and liabilities | 10/49 | €4,700,221 | €4,534,942 | -€165,279 | -3.5% |
| Equity | 10/15 | €1,369,180 | €1,258,848 | -€110,332 | -8.1% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Capital | 10 | €3,500,000 | €3,500,000 | = | 0.0% |
| Issued capital | 100 | €3,500,000 | €3,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,130,820 | -€2,241,152 | -€110,332 | -5.2% |
| Amounts payable | 17/49 | €3,331,040 | €3,276,094 | -€54,946 | -1.6% |
| Amounts payable after more than one year | 17 | €3,320,902 | €3,260,902 | -€60,000 | -1.8% |
| Other amounts payable | 178/9 | €3,320,902 | €3,260,902 | -€60,000 | -1.8% |
| Amounts payable within one year | 42/48 | €4,681 | €11,867 | +€7,186 | +153% |
| Trade debts | 44 | €1,700 | €9,769 | +€8,069 | +475% |
| Suppliers | 440/4 | €1,700 | €9,769 | +€8,069 | +475% |
| Advances received on contracts in progress | 46 | €100 | €100 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,046 | €1,163 | -€883 | -43.1% |
| Taxes | 450/3 | €2,046 | €1,163 | -€883 | -43.1% |
| Other amounts payable | 47/48 | €835 | €835 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,457 | €3,325 | -€2,132 | -39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,163 | €189,365 | -€798 | -0.4% |
| Other operating charges | 640/8 | €29,930 | €30,879 | +€949 | +3.2% |
| Gross operating margin | 9900 | €99,962 | €110,131 | +€10,169 | +10.2% |
| Operating profit (loss) | 9901 | -€120,131 | -€110,113 | +€10,018 | +8.3% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.2% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.2% |
| Financial charges | 65/66B | €138 | €219 | +€81 | +58.8% |
| Recurring financial charges | 65 | €138 | €219 | +€81 | +58.8% |
| Profit (loss) for the period before taxes | 9903 | -€120,264 | -€110,332 | +€9,932 | +8.3% |
| Profit (loss) for the period | 9904 | -€120,264 | -€110,332 | +€9,932 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€120,264 | -€110,332 | +€9,932 | +8.3% |
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 16 October 2026 via checked.be.