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
- Tangible fixed assets -€9,968
down €9,968 (-5.5%), from €180,954 to €170,986
of which Land and buildings: -€9,753
- Receivables within one year +€7,211
up €7,211 (+3081.6%), from €234 to €7,445
- Other debts +€29,608
up €29,608 (+165.9%), from €17,847 to €47,456
- Debts after one year -€25,000
down €25,000 (-12.5%), from €200,000 to €175,000
- Current portion of long-term debt -€8,736
no longer reported in 2025 (was €8,736)
- Gross operating margin -€13,134
down €13,134 (-44.6%), from €29,441 to €16,307
- Taxes -€4,269
down €4,269 (-74.0%), from €5,768 to €1,500
- Financial charges -€850
down €850 (-79.9%), from €1,064 to €214
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 | €364,450 | €362,477 | -€1,973 | -0.5% |
| Fixed assets | 21/28 | €360,954 | €350,986 | -€9,968 | -2.8% |
| Tangible fixed assets | 22/27 | €180,954 | €170,986 | -€9,968 | -5.5% |
| Land and buildings | 22 | €179,237 | €169,484 | -€9,753 | -5.4% |
| Plant, machinery and equipment | 23 | €1,716 | €1,502 | -€215 | -12.5% |
| Financial fixed assets | 28 | €180,000 | €180,000 | = | 0.0% |
| Current assets | 29/58 | €3,496 | €11,491 | +€7,995 | +228.7% |
| Amounts receivable within one year | 40/41 | €234 | €7,445 | +€7,211 | +3081.6% |
| Trade receivables | 40 | €234 | €7,445 | +€7,211 | +3081.6% |
| Cash at bank and in hand | 54/58 | €3,262 | €4,046 | +€784 | +24.0% |
| Total equity and liabilities | 10/49 | €364,450 | €362,477 | -€1,973 | -0.5% |
| Equity | 10/15 | €130,391 | €133,605 | +€3,214 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,395 | €114,609 | +€3,214 | +2.9% |
| Distributable reserves | 133 | €111,395 | €114,609 | +€3,214 | +2.9% |
| Profit (loss) carried forward | 14 | €396 | €396 | +€0 | +0.1% |
| Amounts payable | 17/49 | €234,059 | €228,872 | -€5,187 | -2.2% |
| Amounts payable after more than one year | 17 | €200,000 | €175,000 | -€25,000 | -12.5% |
| Financial debts | 170/4 | €200,000 | €175,000 | -€25,000 | -12.5% |
| Amounts payable within one year | 42/48 | €34,059 | €53,872 | +€19,813 | +58.2% |
| Current portion of amounts payable after more than one year | 42 | €8,736 | - | -€8,736 | |
| Trade debts | 44 | €194 | - | -€194 | |
| Suppliers | 440/4 | €194 | - | -€194 | |
| Taxes, remuneration and social security | 45 | €7,281 | €6,416 | -€865 | -11.9% |
| Taxes | 450/3 | €7,281 | €6,416 | -€865 | -11.9% |
| Other amounts payable | 47/48 | €17,847 | €47,456 | +€29,608 | +165.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,968 | €9,968 | = | 0.0% |
| Other operating charges | 640/8 | €1,373 | €1,412 | +€39 | +2.8% |
| Gross operating margin | 9900 | €29,441 | €16,307 | -€13,134 | -44.6% |
| Operating profit (loss) | 9901 | €18,101 | €4,928 | -€13,172 | -72.8% |
| Financial charges | 65/66B | €1,064 | €214 | -€850 | -79.9% |
| Recurring financial charges | 65 | €1,064 | €214 | -€850 | -79.9% |
| Profit (loss) for the period before taxes | 9903 | €17,037 | €4,714 | -€12,322 | -72.3% |
| Income taxes | 67/77 | €5,768 | €1,500 | -€4,269 | -74.0% |
| Profit (loss) for the period | 9904 | €11,268 | €3,214 | -€8,054 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,268 | €3,214 | -€8,054 | -71.5% |
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 9 October 2026 via checked.be.