KAPCA: 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.
KAPCA
Largest movements
- Tangible fixed assets -€301,519
down €301,519 (-4.5%), from €6.7m to €6.4m
- Cash +€218,025
up €218,025 (+584.4%), from €37,307 to €255,332
mainly Depreciation (+€400,170) and Other debts (+€318,022)
- Other debts +€318,022
up €318,022 (+216.0%), from €147,228 to €465,249
- Accrued charges and deferred income -€275,474
down €275,474 (-29.2%), from €942,939 to €667,465
- Debts after one year -€263,364
down €263,364 (-4.9%), from €5.4m to €5.1m
of which Financial debts: -€263,364
- Profit (loss) carried forward +€138,534
up €138,534 (+218.6%), from €63,373 to €201,907
- Gross operating margin +€46,654
up €46,654 (+6.5%), from €722,267 to €768,921
- Taxes +€23,404
up €23,404 (+102.8%), from €22,774 to €46,178
- Depreciation +€18,820
up €18,820 (+4.9%), from €381,350 to €400,170
- Financial charges -€9,301
down €9,301 (-5.8%), from €161,559 to €152,258
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 | €6,821,135 | €6,730,253 | -€90,882 | -1.3% |
| Fixed assets | 21/28 | €6,752,255 | €6,450,737 | -€301,519 | -4.5% |
| Tangible fixed assets | 22/27 | €6,749,022 | €6,447,504 | -€301,519 | -4.5% |
| Land and buildings | 22 | €6,749,022 | €6,447,504 | -€301,519 | -4.5% |
| Financial fixed assets | 28 | €3,233 | €3,233 | = | 0.0% |
| Current assets | 29/58 | €68,879 | €279,516 | +€210,637 | +305.8% |
| Amounts receivable within one year | 40/41 | €4,540 | €615 | -€3,926 | -86.5% |
| Other amounts receivable | 41 | €4,540 | €615 | -€3,926 | -86.5% |
| Cash at bank and in hand | 54/58 | €37,307 | €255,332 | +€218,025 | +584.4% |
| Deferred charges and accrued income | 490/1 | €27,032 | €23,569 | -€3,463 | -12.8% |
| Total equity and liabilities | 10/49 | €6,821,135 | €6,730,253 | -€90,882 | -1.3% |
| Equity | 10/15 | €83,833 | €222,367 | +€138,534 | +165.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,373 | €201,907 | +€138,534 | +218.6% |
| Amounts payable | 17/49 | €6,737,302 | €6,507,886 | -€229,416 | -3.4% |
| Amounts payable after more than one year | 17 | €5,370,186 | €5,106,822 | -€263,364 | -4.9% |
| Financial debts | 170/4 | €3,500,186 | €3,236,822 | -€263,364 | -7.5% |
| Other amounts payable | 178/9 | €1,870,000 | €1,870,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €424,177 | €733,599 | +€309,422 | +72.9% |
| Current portion of amounts payable after more than one year | 42 | €255,266 | €263,364 | +€8,097 | +3.2% |
| Trade debts | 44 | €11,420 | €3,808 | -€7,611 | -66.7% |
| Suppliers | 440/4 | €11,420 | €3,808 | -€7,611 | -66.7% |
| Taxes, remuneration and social security | 45 | €10,263 | €1,178 | -€9,085 | -88.5% |
| Taxes | 450/3 | €10,263 | €1,178 | -€9,085 | -88.5% |
| Other amounts payable | 47/48 | €147,228 | €465,249 | +€318,022 | +216.0% |
| Accrued charges and deferred income | 492/3 | €942,939 | €667,465 | -€275,474 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €381,350 | €400,170 | +€18,820 | +4.9% |
| Other operating charges | 640/8 | €30,747 | €31,782 | +€1,035 | +3.4% |
| Gross operating margin | 9900 | €722,267 | €768,921 | +€46,654 | +6.5% |
| Operating profit (loss) | 9901 | €310,170 | €336,969 | +€26,799 | +8.6% |
| Financial income | 75/76B | €3,128 | €0 | -€3,127 | -100.0% |
| Recurring financial income | 75 | €3,128 | €0 | -€3,127 | -100.0% |
| Financial charges | 65/66B | €161,559 | €152,258 | -€9,301 | -5.8% |
| Recurring financial charges | 65 | €161,559 | €152,258 | -€9,301 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €151,739 | €184,711 | +€32,973 | +21.7% |
| Income taxes | 67/77 | €22,774 | €46,178 | +€23,404 | +102.8% |
| Profit (loss) for the period | 9904 | €128,965 | €138,534 | +€9,568 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €128,965 | €138,534 | +€9,568 | +7.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.