Initium Capital: 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.
Initium Capital
Largest movements
- Receivables within one year +€267,365
up €267,365 (+213.0%), from €125,540 to €392,905
- Current investments -€200,000
down €200,000 (-99.5%), from €201,000 to €1,000
- Other debts +€219,302
up €219,302 (+457.5%), from €47,930 to €267,233
- Profit (loss) carried forward -€151,678
down €151,678, from €430 to -€151,248
- Gross operating margin -€5,053
down €5,053 (-53.8%), from -€9,390 to -€14,442
- Financial income -€2,775
down €2,775 (-38.7%), from €7,171 to €4,396
- Taxes -€2,151
down €2,151 (-100.0%), from €2,151 to €0
- Financial charges -€530
down €530 (-100.0%), from €530 to €0
- Other operating charges -€177
down €177 (-14.7%), from €1,206 to €1,030
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 | €330,974 | €397,242 | +€66,268 | +20.0% |
| Current assets | 29/58 | €330,974 | €397,242 | +€66,268 | +20.0% |
| Amounts receivable within one year | 40/41 | €125,540 | €392,905 | +€267,365 | +213.0% |
| Other amounts receivable | 41 | €125,540 | €392,905 | +€267,365 | +213.0% |
| Current investments | 50/53 | €201,000 | €1,000 | -€200,000 | -99.5% |
| Cash at bank and in hand | 54/58 | €4,434 | €3,337 | -€1,098 | -24.8% |
| Total equity and liabilities | 10/49 | €330,974 | €397,242 | +€66,268 | +20.0% |
| Equity | 10/15 | €281,430 | €129,752 | -€151,678 | -53.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €31,000 | €31,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,000 | €26,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Own shares acquired | 1312 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €430 | -€151,248 | -€151,678 | |
| Amounts payable | 17/49 | €49,544 | €267,490 | +€217,946 | +439.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €49,544 | €267,490 | +€217,946 | +439.9% |
| Trade debts | 44 | €1,613 | €257 | -€1,356 | -84.1% |
| Suppliers | 440/4 | €1,613 | €257 | -€1,356 | -84.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €47,930 | €267,233 | +€219,302 | +457.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €1,206 | €1,030 | -€177 | -14.7% |
| Non-recurring operating charges | 66A | €76,149 | €140,602 | +€64,453 | +84.6% |
| Gross operating margin | 9900 | -€9,390 | -€14,442 | -€5,053 | -53.8% |
| Operating profit (loss) | 9901 | -€86,745 | -€156,074 | -€69,329 | -79.9% |
| Financial income | 75/76B | €7,171 | €4,396 | -€2,775 | -38.7% |
| Recurring financial income | 75 | €7,171 | €4,396 | -€2,775 | -38.7% |
| Financial charges | 65/66B | €530 | €0 | -€530 | -100.0% |
| Recurring financial charges | 65 | €530 | €0 | -€530 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€80,104 | -€151,678 | -€71,574 | -89.4% |
| Income taxes | 67/77 | €2,151 | €0 | -€2,151 | -100.0% |
| Profit (loss) for the period | 9904 | -€82,256 | -€151,678 | -€69,423 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,256 | -€151,678 | -€69,423 | -84.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.