IL CAPO EM: 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.
IL CAPO EM
Largest movements
- Cash -€12,434
down €12,434 (-26.3%), from €47,309 to €34,875
mainly Net result for the year (-€19,862) and Receivables within one year (-€7,248)
- Receivables within one year +€7,248
up €7,248 (+468%), from €1,548 to €8,796
- Stocks and contracts +€3,416
new in 2025: €3,416
- Deferred charges and accrued income +€1,025
up €1,025 (+130%), from €789 to €1,814
- Tangible fixed assets -€905
down €905 (-6.9%), from €13,035 to €12,130
of which Furniture and vehicles: -€1,322
- Tax, wage and social debts +€21,061
up €21,061 (+141%), from €14,918 to €35,978
of which Remuneration and social security: +€20,729
- Profit (loss) carried forward -€19,862
down €19,862 (-61.2%), from €32,458 to €12,596
- Current portion of long-term debt -€2,229
no longer reported in 2025 (was €2,229)
- Staff costs +€34,615
up €34,615 (+17.2%), from €201,144 to €235,759
- Gross operating margin -€20,780
down €20,780 (-8.5%), from €245,562 to €224,782
- Taxes -€8,148
no longer reported in 2025 (was €8,148)
- Financial charges +€4,144
up €4,144 (+710%), from €584 to €4,728
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 | €64,281 | €62,631 | -€1,650 | -2.6% |
| Fixed assets | 21/28 | €14,635 | €13,730 | -€905 | -6.2% |
| Tangible fixed assets | 22/27 | €13,035 | €12,130 | -€905 | -6.9% |
| Plant, machinery and equipment | 23 | €4,216 | €4,634 | +€417 | +9.9% |
| Furniture and vehicles | 24 | €8,819 | €7,496 | -€1,322 | -15.0% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €49,646 | €48,901 | -€745 | -1.5% |
| Stocks and contracts in progress | 3 | - | €3,416 | +€3,416 | |
| Stocks | 30/36 | - | €3,416 | +€3,416 | |
| Amounts receivable within one year | 40/41 | €1,548 | €8,796 | +€7,248 | +468% |
| Other amounts receivable | 41 | €1,548 | €8,796 | +€7,248 | +468% |
| Cash at bank and in hand | 54/58 | €47,309 | €34,875 | -€12,434 | -26.3% |
| Deferred charges and accrued income | 490/1 | €789 | €1,814 | +€1,025 | +130% |
| Total equity and liabilities | 10/49 | €64,281 | €62,631 | -€1,650 | -2.6% |
| Equity | 10/15 | €36,458 | €16,596 | -€19,862 | -54.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,458 | €12,596 | -€19,862 | -61.2% |
| Amounts payable | 17/49 | €27,823 | €46,035 | +€18,212 | +65.5% |
| Amounts payable within one year | 42/48 | €27,823 | €46,035 | +€18,212 | +65.5% |
| Current portion of amounts payable after more than one year | 42 | €2,229 | - | -€2,229 | |
| Trade debts | 44 | €10,110 | €10,057 | -€53 | -0.5% |
| Suppliers | 440/4 | €10,110 | €10,057 | -€53 | -0.5% |
| Taxes, remuneration and social security | 45 | €14,918 | €35,978 | +€21,061 | +141% |
| Taxes | 450/3 | €8,748 | €9,080 | +€332 | +3.8% |
| Remuneration and social security | 454/9 | €6,170 | €26,898 | +€20,729 | +336% |
| Other amounts payable | 47/48 | €566 | - | -€566 | |
| Remuneration, social security and pensions | 62 | €201,144 | €235,759 | +€34,615 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,833 | €3,855 | +€2,022 | +110% |
| Other operating charges | 640/8 | €1,395 | €947 | -€448 | -32.1% |
| Gross operating margin | 9900 | €245,562 | €224,782 | -€20,780 | -8.5% |
| Operating profit (loss) | 9901 | €41,190 | -€15,779 | -€56,969 | |
| Financial income | 75/76B | - | €645 | +€645 | |
| Recurring financial income | 75 | - | €645 | +€645 | |
| Financial charges | 65/66B | €584 | €4,728 | +€4,144 | +710% |
| Recurring financial charges | 65 | €584 | €4,728 | +€4,144 | +710% |
| Profit (loss) for the period before taxes | 9903 | €40,606 | -€19,862 | -€60,468 | |
| Income taxes | 67/77 | €8,148 | - | -€8,148 | |
| Profit (loss) for the period | 9904 | €32,458 | -€19,862 | -€52,320 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,458 | -€19,862 | -€52,320 |
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.