FABIENNE CAPELLE: 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.
FABIENNE CAPELLE
Largest movements
- Receivables within one year -€5,545
down €5,545 (-16.2%), from €34,314 to €28,769
- Tangible fixed assets +€5,097
up €5,097 (+15576.1%), from €33 to €5,129
of which Furniture and vehicles: +€5,097
- Deferred charges and accrued income -€4,088
down €4,088 (-36.7%), from €11,125 to €7,037
- Cash -€2,164
down €2,164 (-6.2%), from €35,108 to €32,944
mainly Contributions, distributions and other (-€10,000) and Investment in fixed assets (net) (-€6,094)
- Other debts -€5,690
down €5,690 (-33.1%), from €17,190 to €11,500
- Tax, wage and social debts -€2,864
down €2,864 (-36.0%), from €7,948 to €5,083
of which Taxes: -€2,881
- Reserves +€2,424
up €2,424 (+5.2%), from €46,193 to €48,617
of which Distributable reserves: +€2,424
- Gross operating margin -€19,363
down €19,363 (-41.9%), from €46,159 to €26,795
- Taxes -€6,445
down €6,445 (-44.0%), from €14,638 to €8,193
- Other operating charges -€1,044
down €1,044 (-45.4%), from €2,298 to €1,253
- Financial income -€708
down €708 (-29.5%), from €2,403 to €1,696
- Depreciation +€502
up €502 (+101.4%), from €495 to €998
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 | €80,605 | €73,905 | -€6,700 | -8.3% |
| Fixed assets | 21/28 | €58 | €5,154 | +€5,097 | +8829.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €33 | €5,129 | +€5,097 | +15576.1% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €33 | €5,129 | +€5,097 | +15576.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €80,547 | €68,751 | -€11,797 | -14.6% |
| Amounts receivable within one year | 40/41 | €34,314 | €28,769 | -€5,545 | -16.2% |
| Other amounts receivable | 41 | €34,314 | €28,769 | -€5,545 | -16.2% |
| Cash at bank and in hand | 54/58 | €35,108 | €32,944 | -€2,164 | -6.2% |
| Deferred charges and accrued income | 490/1 | €11,125 | €7,037 | -€4,088 | -36.7% |
| Total equity and liabilities | 10/49 | €80,605 | €73,905 | -€6,700 | -8.3% |
| Equity | 10/15 | €52,393 | €54,817 | +€2,424 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,193 | €48,617 | +€2,424 | +5.2% |
| Tax-exempt reserves | 132 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €45,193 | €47,617 | +€2,424 | +5.4% |
| Amounts payable | 17/49 | €28,213 | €19,088 | -€9,124 | -32.3% |
| Amounts payable within one year | 42/48 | €28,213 | €19,088 | -€9,124 | -32.3% |
| Financial debts | 43 | €2,177 | €2,371 | +€193 | +8.9% |
| Credit institutions | 430/8 | €2,177 | €2,371 | +€193 | +8.9% |
| Trade debts | 44 | €897 | €134 | -€763 | -85.0% |
| Suppliers | 440/4 | €897 | €134 | -€763 | -85.0% |
| Taxes, remuneration and social security | 45 | €7,948 | €5,083 | -€2,864 | -36.0% |
| Taxes | 450/3 | €6,881 | €4,000 | -€2,881 | -41.9% |
| Remuneration and social security | 454/9 | €1,066 | €1,083 | +€17 | +1.6% |
| Other amounts payable | 47/48 | €17,190 | €11,500 | -€5,690 | -33.1% |
| Non-recurring operating income | 76A | €10,904 | - | -€10,904 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €495 | €998 | +€502 | +101.4% |
| Other operating charges | 640/8 | €2,298 | €1,253 | -€1,044 | -45.4% |
| Non-recurring operating charges | 66A | - | €1,422 | +€1,422 | |
| Gross operating margin | 9900 | €46,159 | €26,795 | -€19,363 | -41.9% |
| Operating profit (loss) | 9901 | €43,366 | €23,122 | -€20,243 | -46.7% |
| Financial income | 75/76B | €2,403 | €1,696 | -€708 | -29.5% |
| Recurring financial income | 75 | €2,403 | €1,696 | -€708 | -29.5% |
| Financial charges | 65/66B | €4,298 | €4,201 | -€97 | -2.3% |
| Recurring financial charges | 65 | €4,298 | €4,201 | -€97 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €41,471 | €20,617 | -€20,854 | -50.3% |
| Income taxes | 67/77 | €14,638 | €8,193 | -€6,445 | -44.0% |
| Profit (loss) for the period | 9904 | €26,833 | €12,424 | -€14,409 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,833 | €12,424 | -€14,409 | -53.7% |
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 8 October 2026 via checked.be.