HET KAPITTELHOF: 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.
HET KAPITTELHOF
Largest movements
- Stocks and contracts -€157,124
down €157,124 (-28.9%), from €543,603 to €386,479
- Receivables within one year -€63,803
down €63,803 (-14.7%), from €434,418 to €370,615
of which Other amounts receivable: -€74,046
- Cash +€22,518
up €22,518 (+158%), from €14,213 to €36,731
mainly Stocks and contracts (+€157,124) and Net result for the year (+€88,502)
- Deferred charges and accrued income +€12,922
up €12,922 (+810%), from €1,595 to €14,517
- Other debts -€172,269
down €172,269 (-49.3%), from €349,209 to €176,940
- Debts after one year -€84,422
down €84,422 (-10.5%), from €807,161 to €722,739
- Profit (loss) carried forward +€31,502
up €31,502 (+44.6%), from -€70,560 to -€39,058
- Trade debts +€19,924
up €19,924 (+210%), from €9,493 to €29,417
- Financial income +€13,026
up €13,026 (+866%), from €1,504 to €14,530
- Gross operating margin +€11,549
up €11,549 (+9.0%), from €128,517 to €140,066
- Staff costs -€5,288
down €5,288 (-9.9%), from €53,664 to €48,376
- Financial charges +€4,176
up €4,176 (+36.1%), from €11,585 to €15,761
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 | €1,174,864 | €990,922 | -€183,942 | -15.7% |
| Fixed assets | 21/28 | €147,592 | €147,744 | +€153 | +0.1% |
| Tangible fixed assets | 22/27 | €13,116 | €13,269 | +€153 | +1.2% |
| Plant, machinery and equipment | 23 | €1,154 | €869 | -€285 | -24.7% |
| Furniture and vehicles | 24 | €262 | €0 | -€262 | -100% |
| Other tangible fixed assets | 26 | €11,700 | €12,400 | +€700 | +6.0% |
| Financial fixed assets | 28 | €134,476 | €134,476 | = | 0.0% |
| Current assets | 29/58 | €1,027,272 | €843,177 | -€184,095 | -17.9% |
| Amounts receivable after more than one year | 29 | €33,443 | €34,835 | +€1,392 | +4.2% |
| Other amounts receivable | 291 | €33,443 | €34,835 | +€1,392 | +4.2% |
| Stocks and contracts in progress | 3 | €543,603 | €386,479 | -€157,124 | -28.9% |
| Stocks | 30/36 | €543,603 | €386,479 | -€157,124 | -28.9% |
| Amounts receivable within one year | 40/41 | €434,418 | €370,615 | -€63,803 | -14.7% |
| Trade receivables | 40 | €133,001 | €143,244 | +€10,243 | +7.7% |
| Other amounts receivable | 41 | €301,417 | €227,371 | -€74,046 | -24.6% |
| Cash at bank and in hand | 54/58 | €14,213 | €36,731 | +€22,518 | +158% |
| Deferred charges and accrued income | 490/1 | €1,595 | €14,517 | +€12,922 | +810% |
| Total equity and liabilities | 10/49 | €1,174,864 | €990,922 | -€183,942 | -15.7% |
| Equity | 10/15 | -€560 | €37,942 | +€38,502 | |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | - | €7,000 | +€7,000 | |
| Non-distributable reserves | 130/1 | - | €7,000 | +€7,000 | |
| Legal reserve | 130 | - | €7,000 | +€7,000 | |
| Profit (loss) carried forward | 14 | -€70,560 | -€39,058 | +€31,502 | +44.6% |
| Amounts payable | 17/49 | €1,175,423 | €952,979 | -€222,444 | -18.9% |
| Amounts payable after more than one year | 17 | €807,161 | €722,739 | -€84,422 | -10.5% |
| Financial debts | 170/4 | €807,161 | €722,739 | -€84,422 | -10.5% |
| Amounts payable within one year | 42/48 | €368,263 | €223,680 | -€144,583 | -39.3% |
| Trade debts | 44 | €9,493 | €29,417 | +€19,924 | +210% |
| Suppliers | 440/4 | €9,493 | €29,417 | +€19,924 | +210% |
| Taxes, remuneration and social security | 45 | €9,561 | €17,323 | +€7,763 | +81.2% |
| Taxes | 450/3 | €0 | €5,319 | +€5,319 | |
| Remuneration and social security | 454/9 | €9,561 | €12,004 | +€2,444 | +25.6% |
| Other amounts payable | 47/48 | €349,209 | €176,940 | -€172,269 | -49.3% |
| Accrued charges and deferred income | 492/3 | - | €6,560 | +€6,560 | |
| Remuneration, social security and pensions | 62 | €53,664 | €48,376 | -€5,288 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €617 | €547 | -€70 | -11.3% |
| Other operating charges | 640/8 | €625 | €810 | +€185 | +29.5% |
| Gross operating margin | 9900 | €128,517 | €140,066 | +€11,549 | +9.0% |
| Operating profit (loss) | 9901 | €73,610 | €90,332 | +€16,722 | +22.7% |
| Financial income | 75/76B | €1,504 | €14,530 | +€13,026 | +866% |
| Recurring financial income | 75 | €1,504 | €14,530 | +€13,026 | +866% |
| Financial charges | 65/66B | €11,585 | €15,761 | +€4,176 | +36.1% |
| Recurring financial charges | 65 | €11,585 | €15,761 | +€4,176 | +36.1% |
| Profit (loss) for the period before taxes | 9903 | €63,530 | €89,102 | +€25,572 | +40.3% |
| Income taxes | 67/77 | €33 | €600 | +€566 | +1,693% |
| Profit (loss) for the period | 9904 | €63,496 | €88,502 | +€25,006 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,496 | €88,502 | +€25,006 | +39.4% |
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 19 October 2026 via checked.be.