DA CAPO: 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.
DA CAPO
Largest movements
- Receivables within one year -€5,167
down €5,167 (-88.8%), from €5,819 to €652
of which Trade receivables: -€5,305
- Cash +€1,710
up €1,710 (+16.8%), from €10,202 to €11,912
mainly Receivables within one year (+€5,167) and Debts after one year (+€2,062)
- Tangible fixed assets -€1,117
down €1,117 (-23.6%), from €4,740 to €3,623
of which Plant, machinery and equipment: -€750
- Deferred charges and accrued income -€649
down €649 (-89.4%), from €726 to €77
- Profit (loss) carried forward -€5,956
down €5,956 (-4.2%), from -€142,028 to -€147,984
- Debts after one year +€2,062
up €2,062 (+1.7%), from €121,066 to €123,127
- Tax, wage and social debts -€734
no longer reported in 2025 (was €734)
- Trade debts -€594
down €594 (-82.3%), from €722 to €128
- Gross operating margin -€13,912
down €13,912, from €9,835 to -€4,077
- Depreciation +€273
up €273 (+32.4%), from €843 to €1,117
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 | €21,488 | €16,265 | -€5,223 | -24.3% |
| Fixed assets | 21/28 | €4,740 | €3,623 | -€1,117 | -23.6% |
| Tangible fixed assets | 22/27 | €4,740 | €3,623 | -€1,117 | -23.6% |
| Plant, machinery and equipment | 23 | €3,000 | €2,250 | -€750 | -25.0% |
| Furniture and vehicles | 24 | €1,740 | €1,373 | -€367 | -21.1% |
| Current assets | 29/58 | €16,748 | €12,642 | -€4,106 | -24.5% |
| Amounts receivable within one year | 40/41 | €5,819 | €652 | -€5,167 | -88.8% |
| Trade receivables | 40 | €5,819 | €515 | -€5,305 | -91.2% |
| Other amounts receivable | 41 | - | €138 | +€138 | |
| Cash at bank and in hand | 54/58 | €10,202 | €11,912 | +€1,710 | +16.8% |
| Deferred charges and accrued income | 490/1 | €726 | €77 | -€649 | -89.4% |
| Total equity and liabilities | 10/49 | €21,488 | €16,265 | -€5,223 | -24.3% |
| Equity | 10/15 | -€101,035 | -€106,991 | -€5,956 | -5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,393 | €22,393 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,073 | €1,073 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,073 | €1,073 | = | 0.0% |
| Distributable reserves | 133 | €21,320 | €21,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,028 | -€147,984 | -€5,956 | -4.2% |
| Amounts payable | 17/49 | €122,522 | €123,255 | +€733 | +0.6% |
| Amounts payable after more than one year | 17 | €121,066 | €123,127 | +€2,062 | +1.7% |
| Other amounts payable | 178/9 | €121,066 | €123,127 | +€2,062 | +1.7% |
| Amounts payable within one year | 42/48 | €1,457 | €128 | -€1,329 | -91.2% |
| Trade debts | 44 | €722 | €128 | -€594 | -82.3% |
| Suppliers | 440/4 | €722 | €128 | -€594 | -82.3% |
| Taxes, remuneration and social security | 45 | €734 | - | -€734 | |
| Taxes | 450/3 | €734 | - | -€734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €843 | €1,117 | +€273 | +32.4% |
| Other operating charges | 640/8 | €543 | €528 | -€16 | -2.9% |
| Gross operating margin | 9900 | €9,835 | -€4,077 | -€13,912 | |
| Operating profit (loss) | 9901 | €8,448 | -€5,721 | -€14,170 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €220 | €235 | +€15 | +6.7% |
| Recurring financial charges | 65 | €220 | €235 | +€15 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €8,228 | -€5,956 | -€14,184 | |
| Profit (loss) for the period | 9904 | €8,228 | -€5,956 | -€14,184 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,228 | -€5,956 | -€14,184 |
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 4 October 2026 via checked.be.