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
- Tangible fixed assets -€17,742
down €17,742 (-23.8%), from €74,518 to €56,777
of which Leasing and similar rights: -€14,992
- Cash -€16,896
down €16,896 (-72.0%), from €23,464 to €6,568
mainly Net result for the year (-€20,938) and Tax, wage and social debts (-€8,922)
- Receivables within one year +€6,308
up €6,308 (+6.8%), from €93,239 to €99,547
of which Other amounts receivable: +€14,970
- Deferred charges and accrued income -€2,085
down €2,085 (-23.5%), from €8,863 to €6,777
- Profit (loss) carried forward -€20,938
new in 2025: -€20,938
- Tax, wage and social debts -€8,922
down €8,922 (-41.7%), from €21,381 to €12,460
of which Taxes: -€8,616
- Debts after one year -€8,068
down €8,068 (-19.1%), from €42,302 to €34,234
- Trade debts +€5,799
up €5,799 (+78.3%), from €7,404 to €13,204
- Gross operating margin -€27,876
down €27,876, from €27,799 to -€78
- Depreciation +€6,289
up €6,289 (+54.9%), from €11,453 to €17,742
- Taxes -€4,154
down €4,154 (-94.2%), from €4,410 to €256
- Financial income -€1,276
down €1,276 (-100.0%), from €1,276 to €1
- Other operating charges -€1,254
down €1,254 (-46.1%), from €2,719 to €1,465
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 | €204,684 | €174,269 | -€30,415 | -14.9% |
| Fixed assets | 21/28 | €74,518 | €56,777 | -€17,742 | -23.8% |
| Tangible fixed assets | 22/27 | €74,518 | €56,777 | -€17,742 | -23.8% |
| Furniture and vehicles | 24 | €8,211 | €5,461 | -€2,750 | -33.5% |
| Leasing and similar rights | 25 | €66,308 | €51,316 | -€14,992 | -22.6% |
| Current assets | 29/58 | €130,166 | €117,492 | -€12,674 | -9.7% |
| Amounts receivable within one year | 40/41 | €93,239 | €99,547 | +€6,308 | +6.8% |
| Trade receivables | 40 | €63,758 | €55,096 | -€8,662 | -13.6% |
| Other amounts receivable | 41 | €29,481 | €44,451 | +€14,970 | +50.8% |
| Current investments | 50/53 | €4,600 | €4,600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,464 | €6,568 | -€16,896 | -72.0% |
| Deferred charges and accrued income | 490/1 | €8,863 | €6,777 | -€2,085 | -23.5% |
| Total equity and liabilities | 10/49 | €204,684 | €174,269 | -€30,415 | -14.9% |
| Equity | 10/15 | €102,791 | €81,854 | -€20,938 | -20.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €96,591 | €96,591 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €95,971 | €95,971 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€20,938 | -€20,938 | |
| Amounts payable | 17/49 | €101,893 | €92,415 | -€9,478 | -9.3% |
| Amounts payable after more than one year | 17 | €42,302 | €34,234 | -€8,068 | -19.1% |
| Financial debts | 170/4 | €42,302 | €34,234 | -€8,068 | -19.1% |
| Amounts payable within one year | 42/48 | €59,591 | €58,181 | -€1,410 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €7,784 | €9,384 | +€1,600 | +20.6% |
| Trade debts | 44 | €7,404 | €13,204 | +€5,799 | +78.3% |
| Suppliers | 440/4 | €7,404 | €13,204 | +€5,799 | +78.3% |
| Advances received on contracts in progress | 46 | €23,021 | €23,021 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,381 | €12,460 | -€8,922 | -41.7% |
| Taxes | 450/3 | €21,076 | €12,460 | -€8,616 | -40.9% |
| Remuneration and social security | 454/9 | €305 | - | -€305 | |
| Other amounts payable | 47/48 | - | €112 | +€112 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,453 | €17,742 | +€6,289 | +54.9% |
| Other operating charges | 640/8 | €2,719 | €1,465 | -€1,254 | -46.1% |
| Gross operating margin | 9900 | €27,799 | -€78 | -€27,876 | |
| Operating profit (loss) | 9901 | €13,628 | -€19,284 | -€32,912 | |
| Financial income | 75/76B | €1,276 | €1 | -€1,276 | -100.0% |
| Recurring financial income | 75 | €1,276 | €1 | -€1,276 | -100.0% |
| Financial charges | 65/66B | €2,092 | €1,397 | -€694 | -33.2% |
| Recurring financial charges | 65 | €2,092 | €1,397 | -€694 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €12,812 | -€20,681 | -€33,494 | |
| Income taxes | 67/77 | €4,410 | €256 | -€4,154 | -94.2% |
| Profit (loss) for the period | 9904 | €8,402 | -€20,938 | -€29,340 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,402 | -€20,938 | -€29,340 |
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.