DE KAPBLOK: 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 KAPBLOK
Largest movements
- Tangible fixed assets -€132,994
down €132,994 (-7.1%), from €1.9m to €1.7m
of which Land and buildings: -€111,108
- Stocks and contracts +€23,656
up €23,656 (+31.0%), from €76,282 to €99,938
- Other debts +€232,080
up €232,080 (+64.3%), from €361,194 to €593,274
- Debts after one year -€161,611
down €161,611 (-13.2%), from €1.2m to €1.1m
- Profit (loss) carried forward -€113,097
down €113,097 (-18.8%), from -€600,752 to -€713,850
- Trade debts -€45,693
down €45,693 (-16.9%), from €269,587 to €223,894
- Depreciation -€50,309
down €50,309 (-27.4%), from €183,303 to €132,994
- Gross operating margin +€31,524
up €31,524 (+6.7%), from €474,040 to €505,564
- Financial charges +€31,517
up €31,517 (+68.4%), from €46,074 to €77,591
- Other operating charges +€9,082
up €9,082 (+128%), from €7,092 to €16,173
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 | €1,983,655 | €1,890,470 | -€93,184 | -4.7% |
| Fixed assets | 21/28 | €1,870,160 | €1,737,166 | -€132,994 | -7.1% |
| Tangible fixed assets | 22/27 | €1,869,610 | €1,736,616 | -€132,994 | -7.1% |
| Land and buildings | 22 | €1,832,109 | €1,721,001 | -€111,108 | -6.1% |
| Plant, machinery and equipment | 23 | €30,517 | €13,210 | -€17,307 | -56.7% |
| Furniture and vehicles | 24 | €6,984 | €2,405 | -€4,579 | -65.6% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €113,494 | €153,304 | +€39,810 | +35.1% |
| Stocks and contracts in progress | 3 | €76,282 | €99,938 | +€23,656 | +31.0% |
| Stocks | 30/36 | €76,282 | €99,938 | +€23,656 | +31.0% |
| Amounts receivable within one year | 40/41 | €25,750 | €43,986 | +€18,236 | +70.8% |
| Trade receivables | 40 | €22,837 | €39,664 | +€16,827 | +73.7% |
| Other amounts receivable | 41 | €2,913 | €4,322 | +€1,409 | +48.4% |
| Cash at bank and in hand | 54/58 | €11,463 | €9,380 | -€2,083 | -18.2% |
| Total equity and liabilities | 10/49 | €1,983,655 | €1,890,470 | -€93,184 | -4.7% |
| Equity | 10/15 | -€432,192 | -€545,290 | -€113,097 | -26.2% |
| Contributions | 10/11 | €138,600 | €138,600 | = | 0.0% |
| Reserves | 13 | €29,960 | €29,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,860 | €13,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,860 | €13,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,100 | €16,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€600,752 | -€713,850 | -€113,097 | -18.8% |
| Amounts payable | 17/49 | €2,415,847 | €2,435,760 | +€19,913 | +0.8% |
| Amounts payable after more than one year | 17 | €1,228,528 | €1,066,917 | -€161,611 | -13.2% |
| Financial debts | 170/4 | €1,228,528 | €1,066,917 | -€161,611 | -13.2% |
| Amounts payable within one year | 42/48 | €1,187,320 | €1,368,843 | +€181,523 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €262,271 | €245,063 | -€17,208 | -6.6% |
| Financial debts | 43 | €269,408 | €279,697 | +€10,289 | +3.8% |
| Credit institutions | 430/8 | €269,408 | €279,697 | +€10,289 | +3.8% |
| Trade debts | 44 | €269,587 | €223,894 | -€45,693 | -16.9% |
| Suppliers | 440/4 | €269,587 | €223,894 | -€45,693 | -16.9% |
| Taxes, remuneration and social security | 45 | €24,860 | €26,916 | +€2,055 | +8.3% |
| Taxes | 450/3 | €6,022 | €9,648 | +€3,626 | +60.2% |
| Remuneration and social security | 454/9 | €18,839 | €17,268 | -€1,571 | -8.3% |
| Other amounts payable | 47/48 | €361,194 | €593,274 | +€232,080 | +64.3% |
| Remuneration, social security and pensions | 62 | €396,845 | €391,986 | -€4,859 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,303 | €132,994 | -€50,309 | -27.4% |
| Other operating charges | 640/8 | €7,092 | €16,173 | +€9,082 | +128% |
| Gross operating margin | 9900 | €474,040 | €505,564 | +€31,524 | +6.7% |
| Operating profit (loss) | 9901 | -€113,200 | -€35,590 | +€77,610 | +68.6% |
| Financial income | 75/76B | €166 | €84 | -€82 | -49.6% |
| Recurring financial income | 75 | €166 | €84 | -€82 | -49.6% |
| Financial charges | 65/66B | €46,074 | €77,591 | +€31,517 | +68.4% |
| Recurring financial charges | 65 | €46,074 | €77,591 | +€31,517 | +68.4% |
| Profit (loss) for the period before taxes | 9903 | -€159,108 | -€113,097 | +€46,011 | +28.9% |
| Profit (loss) for the period | 9904 | -€159,108 | -€113,097 | +€46,011 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€159,108 | -€113,097 | +€46,011 | +28.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.