DA CAPO: 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.
DA CAPO
Largest movements
- Receivables within one year -€31,010
down €31,010 (-43.6%), from €71,170 to €40,160
of which Other amounts receivable: -€38,642
- Tangible fixed assets -€10,300
down €10,300 (-42.7%), from €24,106 to €13,807
of which Furniture and vehicles: -€7,194
- Cash +€8,015
new in 2025: €8,015
mainly Receivables within one year (+€31,010) and Other debts (+€14,146)
- Deferred charges and accrued income -€6,865
down €6,865 (-74.0%), from €9,277 to €2,412
- Profit (loss) carried forward -€37,866
new in 2025: -€37,866
- Other debts +€14,146
up €14,146 (+130%), from €10,859 to €25,005
- Short-term financial debts -€10,996
no longer reported in 2025 (was €10,996)
- Trade debts -€7,210
down €7,210 (-35.7%), from €20,215 to €13,005
- Tax, wage and social debts +€1,766
up €1,766 (+47.1%), from €3,753 to €5,520
of which Taxes: +€2,610
- Staff costs -€118,602
down €118,602 (-73.8%), from €160,788 to €42,186
- Gross operating margin -€101,031
down €101,031 (-51.7%), from €195,470 to €94,438
- Financial charges +€73,335
up €73,335 (+10,467%), from €701 to €74,035
- Taxes -€4,878
down €4,878 (-95.0%), from €5,134 to €257
- Depreciation -€3,492
down €3,492 (-21.1%), from €16,566 to €13,074
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 | €115,794 | €75,634 | -€40,160 | -34.7% |
| Fixed assets | 21/28 | €30,346 | €20,047 | -€10,300 | -33.9% |
| Tangible fixed assets | 22/27 | €24,106 | €13,807 | -€10,300 | -42.7% |
| Plant, machinery and equipment | 23 | €11,752 | €8,893 | -€2,859 | -24.3% |
| Furniture and vehicles | 24 | €11,861 | €4,667 | -€7,194 | -60.7% |
| Other tangible fixed assets | 26 | €494 | €247 | -€247 | -50.0% |
| Financial fixed assets | 28 | €6,240 | €6,240 | = | 0.0% |
| Current assets | 29/58 | €85,447 | €55,587 | -€29,860 | -34.9% |
| Stocks and contracts in progress | 3 | €5,000 | €5,000 | = | 0.0% |
| Stocks | 30/36 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €71,170 | €40,160 | -€31,010 | -43.6% |
| Trade receivables | 40 | €32,485 | €40,117 | +€7,632 | +23.5% |
| Other amounts receivable | 41 | €38,685 | €43 | -€38,642 | -99.9% |
| Cash at bank and in hand | 54/58 | - | €8,015 | +€8,015 | |
| Deferred charges and accrued income | 490/1 | €9,277 | €2,412 | -€6,865 | -74.0% |
| Total equity and liabilities | 10/49 | €115,794 | €75,634 | -€40,160 | -34.7% |
| Equity | 10/15 | €69,970 | €32,104 | -€37,866 | -54.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €57,570 | €57,570 | = | 0.0% |
| Distributable reserves | 133 | €57,570 | €57,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€37,866 | -€37,866 | |
| Amounts payable | 17/49 | €45,823 | €43,530 | -€2,294 | -5.0% |
| Amounts payable within one year | 42/48 | €45,823 | €43,530 | -€2,294 | -5.0% |
| Financial debts | 43 | €10,996 | - | -€10,996 | |
| Credit institutions | 430/8 | €10,996 | - | -€10,996 | |
| Trade debts | 44 | €20,215 | €13,005 | -€7,210 | -35.7% |
| Suppliers | 440/4 | €20,215 | €13,005 | -€7,210 | -35.7% |
| Taxes, remuneration and social security | 45 | €3,753 | €5,520 | +€1,766 | +47.1% |
| Taxes | 450/3 | €1,483 | €4,093 | +€2,610 | +176% |
| Remuneration and social security | 454/9 | €2,271 | €1,426 | -€844 | -37.2% |
| Other amounts payable | 47/48 | €10,859 | €25,005 | +€14,146 | +130% |
| Remuneration, social security and pensions | 62 | €160,788 | €42,186 | -€118,602 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,566 | €13,074 | -€3,492 | -21.1% |
| Other operating charges | 640/8 | €1,536 | €4,088 | +€2,552 | +166% |
| Gross operating margin | 9900 | €195,470 | €94,438 | -€101,031 | -51.7% |
| Operating profit (loss) | 9901 | €16,580 | €35,090 | +€18,511 | +112% |
| Financial income | 75/76B | €1,390 | €1,335 | -€55 | -3.9% |
| Recurring financial income | 75 | €1,390 | €1,335 | -€55 | -3.9% |
| Financial charges | 65/66B | €701 | €74,035 | +€73,335 | +10,467% |
| Recurring financial charges | 65 | €701 | €74,035 | +€73,335 | +10,467% |
| Profit (loss) for the period before taxes | 9903 | €17,269 | -€37,610 | -€54,879 | |
| Income taxes | 67/77 | €5,134 | €257 | -€4,878 | -95.0% |
| Profit (loss) for the period | 9904 | €12,135 | -€37,866 | -€50,001 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,135 | -€37,866 | -€50,001 |
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 17 October 2026 via checked.be.