CAPWICK: 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.
CAPWICK
Largest movements
- Receivables within one year -€849,402
down €849,402 (-97.8%), from €868,794 to €19,392
of which Other amounts receivable: -€842,214
- Tangible fixed assets +€518,750
up €518,750 (+37.6%), from €1.4m to €1.9m
of which Land and buildings: +€538,906
- Cash +€123,787
up €123,787 (+102%), from €121,614 to €245,401
mainly Receivables within one year (+€849,402) and Other debts (+€405,401)
- Stocks and contracts -€54,274
down €54,274 (-25.4%), from €213,843 to €159,568
- Short-term financial debts -€455,000
down €455,000 (-100%), from €455,000 to €0
- Other debts +€405,401
up €405,401 (+239%), from €169,923 to €575,324
- Profit (loss) carried forward -€165,094
new in 2025: -€165,094
- Financial income -€558,704
down €558,704 (-98.8%), from €565,482 to €6,778
- Gross operating margin -€163,415
down €163,415, from €131,663 to -€31,752
- Taxes -€67,503
down €67,503 (-97.9%), from €68,923 to €1,420
- Depreciation +€43,250
up €43,250 (+48.1%), from €89,834 to €133,084
- Financial charges -€6,448
down €6,448 (-52.5%), from €12,282 to €5,833
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 | €2,864,371 | €2,626,406 | -€237,965 | -8.3% |
| Fixed assets | 21/28 | €1,378,387 | €1,897,136 | +€518,750 | +37.6% |
| Tangible fixed assets | 22/27 | €1,378,237 | €1,896,986 | +€518,750 | +37.6% |
| Land and buildings | 22 | €1,294,750 | €1,833,657 | +€538,906 | +41.6% |
| Furniture and vehicles | 24 | €73,489 | €53,332 | -€20,157 | -27.4% |
| Other tangible fixed assets | 26 | €9,998 | €9,998 | = | 0.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €1,485,985 | €729,270 | -€756,715 | -50.9% |
| Stocks and contracts in progress | 3 | €213,843 | €159,568 | -€54,274 | -25.4% |
| Stocks | 30/36 | €213,843 | €159,568 | -€54,274 | -25.4% |
| Amounts receivable within one year | 40/41 | €868,794 | €19,392 | -€849,402 | -97.8% |
| Trade receivables | 40 | €7,188 | €0 | -€7,188 | -100% |
| Other amounts receivable | 41 | €861,606 | €19,392 | -€842,214 | -97.7% |
| Current investments | 50/53 | €280,635 | €304,909 | +€24,274 | +8.6% |
| Cash at bank and in hand | 54/58 | €121,614 | €245,401 | +€123,787 | +102% |
| Deferred charges and accrued income | 490/1 | €1,099 | €0 | -€1,099 | -100% |
| Total equity and liabilities | 10/49 | €2,864,371 | €2,626,406 | -€237,965 | -8.3% |
| Equity | 10/15 | €2,093,871 | €1,917,699 | -€176,172 | -8.4% |
| Contributions | 10/11 | €297,125 | €297,125 | = | 0.0% |
| Reserves | 13 | €1,796,746 | €1,785,668 | -€11,078 | -0.6% |
| Tax-exempt reserves | 132 | €248,147 | €237,068 | -€11,078 | -4.5% |
| Distributable reserves | 133 | €1,548,599 | €1,548,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€165,094 | -€165,094 | |
| Provisions and deferred taxes | 16 | €82,716 | €79,023 | -€3,693 | -4.5% |
| Deferred taxes | 168 | €82,716 | €79,023 | -€3,693 | -4.5% |
| Amounts payable | 17/49 | €687,785 | €629,684 | -€58,101 | -8.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €687,785 | €629,684 | -€58,101 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €9,999 | €0 | -€9,999 | -100% |
| Financial debts | 43 | €455,000 | €0 | -€455,000 | -100% |
| Credit institutions | 430/8 | €455,000 | €0 | -€455,000 | -100% |
| Trade debts | 44 | €5,310 | €4,215 | -€1,095 | -20.6% |
| Suppliers | 440/4 | €5,310 | €4,215 | -€1,095 | -20.6% |
| Taxes, remuneration and social security | 45 | €47,553 | €50,145 | +€2,593 | +5.5% |
| Taxes | 450/3 | €47,553 | €50,145 | +€2,593 | +5.5% |
| Other amounts payable | 47/48 | €169,923 | €575,324 | +€405,401 | +239% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,834 | €133,084 | +€43,250 | +48.1% |
| Other operating charges | 640/8 | €8,684 | €14,555 | +€5,871 | +67.6% |
| Gross operating margin | 9900 | €131,663 | -€31,752 | -€163,415 | |
| Operating profit (loss) | 9901 | €33,146 | -€179,390 | -€212,536 | |
| Financial income | 75/76B | €565,482 | €6,778 | -€558,704 | -98.8% |
| Recurring financial income | 75 | €565,482 | €6,778 | -€558,704 | -98.8% |
| Financial charges | 65/66B | €12,282 | €5,833 | -€6,448 | -52.5% |
| Recurring financial charges | 65 | €12,282 | €5,833 | -€6,448 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €586,346 | -€178,445 | -€764,791 | |
| Transfer from deferred taxes | 780 | €3,693 | €3,693 | = | 0.0% |
| Income taxes | 67/77 | €68,923 | €1,420 | -€67,503 | -97.9% |
| Profit (loss) for the period | 9904 | €521,116 | -€176,172 | -€697,288 | |
| Transfer from tax-exempt reserves | 789 | €11,078 | €11,078 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €532,194 | -€165,094 | -€697,288 |
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 24 October 2026 via checked.be.