FIGARO KAPSALON: 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.
FIGARO KAPSALON
Largest movements
- Receivables within one year +€36,665
up €36,665 (+70.6%), from €51,926 to €88,590
of which Trade receivables: +€38,073
- Tangible fixed assets -€23,647
down €23,647 (-14.0%), from €169,382 to €145,735
of which Other tangible fixed assets: -€33,832
- Deferred charges and accrued income -€10,400
down €10,400 (-80.3%), from €12,957 to €2,556
- Cash +€5,206
up €5,206 (+2.6%), from €199,640 to €204,846
mainly Net result for the year (+€57,958) and Depreciation (+€41,278)
- Reserves -€100,250
down €100,250 (-54.5%), from €184,110 to €83,860
- Profit (loss) carried forward +€67,958
up €67,958 (+78.5%), from -€86,557 to -€18,599
- Debts after one year -€40,842
down €40,842 (-21.7%), from €188,645 to €147,802
- Trade debts +€40,094
up €40,094 (+203%), from €19,779 to €59,873
- Other debts +€30,250
new in 2025: €30,250
- Gross operating margin +€61,935
up €61,935 (+13.9%), from €446,530 to €508,466
- Taxes +€19,896
up €19,896 (+4,639%), from €429 to €20,325
- Staff costs -€9,644
down €9,644 (-2.5%), from €390,391 to €380,747
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 | €454,346 | €462,787 | +€8,440 | +1.9% |
| Fixed assets | 21/28 | €169,382 | €145,735 | -€23,647 | -14.0% |
| Tangible fixed assets | 22/27 | €169,382 | €145,735 | -€23,647 | -14.0% |
| Land and buildings | 22 | €4,767 | €3,918 | -€849 | -17.8% |
| Plant, machinery and equipment | 23 | €12,999 | €11,944 | -€1,055 | -8.1% |
| Furniture and vehicles | 24 | €2,729 | €14,818 | +€12,089 | +443% |
| Other tangible fixed assets | 26 | €148,888 | €115,056 | -€33,832 | -22.7% |
| Current assets | 29/58 | €284,964 | €317,051 | +€32,087 | +11.3% |
| Stocks and contracts in progress | 3 | €20,442 | €21,059 | +€617 | +3.0% |
| Stocks | 30/36 | €20,442 | €21,059 | +€617 | +3.0% |
| Amounts receivable within one year | 40/41 | €51,926 | €88,590 | +€36,665 | +70.6% |
| Trade receivables | 40 | €3,925 | €41,998 | +€38,073 | +970% |
| Other amounts receivable | 41 | €48,001 | €46,593 | -€1,408 | -2.9% |
| Cash at bank and in hand | 54/58 | €199,640 | €204,846 | +€5,206 | +2.6% |
| Deferred charges and accrued income | 490/1 | €12,957 | €2,556 | -€10,400 | -80.3% |
| Total equity and liabilities | 10/49 | €454,346 | €462,787 | +€8,440 | +1.9% |
| Equity | 10/15 | €111,193 | €78,901 | -€32,292 | -29.0% |
| Contributions | 10/11 | €13,640 | €13,640 | = | 0.0% |
| Reserves | 13 | €184,110 | €83,860 | -€100,250 | -54.5% |
| Distributable reserves | 133 | €184,110 | €83,860 | -€100,250 | -54.5% |
| Profit (loss) carried forward | 14 | -€86,557 | -€18,599 | +€67,958 | +78.5% |
| Amounts payable | 17/49 | €343,154 | €383,886 | +€40,733 | +11.9% |
| Amounts payable after more than one year | 17 | €188,645 | €147,802 | -€40,842 | -21.7% |
| Financial debts | 170/4 | €188,645 | €147,802 | -€40,842 | -21.7% |
| Amounts payable within one year | 42/48 | €154,509 | €236,084 | +€81,575 | +52.8% |
| Current portion of amounts payable after more than one year | 42 | €40,177 | €40,842 | +€666 | +1.7% |
| Trade debts | 44 | €19,779 | €59,873 | +€40,094 | +203% |
| Suppliers | 440/4 | €19,779 | €59,873 | +€40,094 | +203% |
| Advances received on contracts in progress | 46 | €0 | €671 | +€671 | |
| Taxes, remuneration and social security | 45 | €94,553 | €104,447 | +€9,894 | +10.5% |
| Taxes | 450/3 | €37,062 | €51,160 | +€14,098 | +38.0% |
| Remuneration and social security | 454/9 | €57,491 | €53,287 | -€4,204 | -7.3% |
| Other amounts payable | 47/48 | - | €30,250 | +€30,250 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €390,391 | €380,747 | -€9,644 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,441 | €41,278 | -€163 | -0.4% |
| Other operating charges | 640/8 | €1,198 | €1,726 | +€528 | +44.1% |
| Non-recurring operating charges | 66A | - | €225 | +€225 | |
| Gross operating margin | 9900 | €446,530 | €508,466 | +€61,935 | +13.9% |
| Operating profit (loss) | 9901 | €13,500 | €84,489 | +€70,989 | +526% |
| Financial income | 75/76B | €867 | €2,381 | +€1,514 | +175% |
| Recurring financial income | 75 | €867 | €2,381 | +€1,514 | +175% |
| Financial charges | 65/66B | €9,470 | €8,587 | -€883 | -9.3% |
| Recurring financial charges | 65 | €9,470 | €8,587 | -€883 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €4,897 | €78,283 | +€73,386 | +1,498% |
| Income taxes | 67/77 | €429 | €20,325 | +€19,896 | +4,639% |
| Profit (loss) for the period | 9904 | €4,469 | €57,958 | +€53,489 | +1,197% |
| Profit (loss) for the period to be appropriated | 9905 | €4,469 | €57,958 | +€53,489 | +1,197% |
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 13 October 2026 via checked.be.