DE KAPBAR: 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.
DE KAPBAR
Largest movements
- Tangible fixed assets +€259,760
up €259,760 (+2,738%), from €9,489 to €269,249
of which Land and buildings: +€259,772
- Cash -€8,623
down €8,623 (-11.6%), from €74,396 to €65,773
mainly Investment in fixed assets (net) (-€297,702) and Deferred charges and accrued income (-€7,902)
- Deferred charges and accrued income +€7,902
up €7,902 (+4,331%), from €182 to €8,085
- Debts after one year +€191,733
new in 2025: €191,733
- Reserves +€36,600
up €36,600 (+63.5%), from €57,650 to €94,249
- Other debts +€17,682
up €17,682 (+12,280%), from €144 to €17,826
- Current portion of long-term debt +€8,267
new in 2025: €8,267
- Gross operating margin +€88,803
up €88,803 (+87.0%), from €102,081 to €190,884
- Staff costs +€33,894
up €33,894 (+53.4%), from €63,419 to €97,313
- Depreciation +€31,938
up €31,938 (+532%), from €6,004 to €37,942
- Taxes +€8,845
up €8,845 (+152%), from €5,800 to €14,646
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 | €104,012 | €361,731 | +€257,718 | +248% |
| Fixed assets | 21/28 | €10,449 | €270,209 | +€259,760 | +2,486% |
| Tangible fixed assets | 22/27 | €9,489 | €269,249 | +€259,760 | +2,738% |
| Land and buildings | 22 | - | €259,772 | +€259,772 | |
| Furniture and vehicles | 24 | €5,394 | €8,185 | +€2,792 | +51.8% |
| Other tangible fixed assets | 26 | €4,095 | €1,292 | -€2,804 | -68.5% |
| Financial fixed assets | 28 | €960 | €960 | = | 0.0% |
| Current assets | 29/58 | €93,563 | €91,522 | -€2,042 | -2.2% |
| Stocks and contracts in progress | 3 | €16,002 | €14,999 | -€1,002 | -6.3% |
| Stocks | 30/36 | €16,002 | €14,999 | -€1,002 | -6.3% |
| Amounts receivable within one year | 40/41 | €2,984 | €2,665 | -€319 | -10.7% |
| Trade receivables | 40 | - | €923 | +€923 | |
| Other amounts receivable | 41 | €2,984 | €1,742 | -€1,242 | -41.6% |
| Cash at bank and in hand | 54/58 | €74,396 | €65,773 | -€8,623 | -11.6% |
| Deferred charges and accrued income | 490/1 | €182 | €8,085 | +€7,902 | +4,331% |
| Total equity and liabilities | 10/49 | €104,012 | €361,731 | +€257,718 | +248% |
| Equity | 10/15 | €77,650 | €114,249 | +€36,600 | +47.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €57,650 | €94,249 | +€36,600 | +63.5% |
| Distributable reserves | 133 | €57,650 | €94,249 | +€36,600 | +63.5% |
| Amounts payable | 17/49 | €26,363 | €247,481 | +€221,119 | +839% |
| Amounts payable after more than one year | 17 | - | €191,733 | +€191,733 | |
| Financial debts | 170/4 | - | €191,733 | +€191,733 | |
| Amounts payable within one year | 42/48 | €25,158 | €55,337 | +€30,179 | +120% |
| Current portion of amounts payable after more than one year | 42 | - | €8,267 | +€8,267 | |
| Trade debts | 44 | €4,829 | €8,134 | +€3,305 | +68.5% |
| Suppliers | 440/4 | €4,829 | €8,134 | +€3,305 | +68.5% |
| Taxes, remuneration and social security | 45 | €20,186 | €21,110 | +€925 | +4.6% |
| Taxes | 450/3 | €9,541 | €6,756 | -€2,785 | -29.2% |
| Remuneration and social security | 454/9 | €10,645 | €14,355 | +€3,710 | +34.9% |
| Other amounts payable | 47/48 | €144 | €17,826 | +€17,682 | +12,280% |
| Accrued charges and deferred income | 492/3 | €1,205 | €411 | -€793 | -65.9% |
| Remuneration, social security and pensions | 62 | €63,419 | €97,313 | +€33,894 | +53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,004 | €37,942 | +€31,938 | +532% |
| Other operating charges | 640/8 | €3,434 | €1,663 | -€1,771 | -51.6% |
| Gross operating margin | 9900 | €102,081 | €190,884 | +€88,803 | +87.0% |
| Operating profit (loss) | 9901 | €29,223 | €53,965 | +€24,742 | +84.7% |
| Financial income | 75/76B | €102 | €17 | -€85 | -83.2% |
| Recurring financial income | 75 | €102 | €17 | -€85 | -83.2% |
| Financial charges | 65/66B | €2,768 | €2,737 | -€30 | -1.1% |
| Recurring financial charges | 65 | €2,768 | €2,737 | -€30 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €26,558 | €51,245 | +€24,688 | +93.0% |
| Income taxes | 67/77 | €5,800 | €14,646 | +€8,845 | +152% |
| Profit (loss) for the period | 9904 | €20,757 | €36,600 | +€15,842 | +76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,757 | €36,600 | +€15,842 | +76.3% |
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.