KAPELLEVELD: 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.
KAPELLEVELD
Largest movements
- Tangible fixed assets -€28,775
down €28,775 (-4.6%), from €630,039 to €601,265
of which Land and buildings: -€28,347
- Debts after one year -€29,155
down €29,155 (-9.9%), from €295,950 to €266,795
of which Financial debts: -€28,680
- Gross operating margin +€3,843
up €3,843 (+5.8%), from €66,221 to €70,064
- Financial charges -€2,041
down €2,041 (-11.7%), from €17,395 to €15,353
- Depreciation +€763
up €763 (+2.0%), from €38,765 to €39,527
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 | €659,001 | €631,352 | -€27,649 | -4.2% |
| Fixed assets | 21/28 | €630,039 | €601,265 | -€28,775 | -4.6% |
| Tangible fixed assets | 22/27 | €630,039 | €601,265 | -€28,775 | -4.6% |
| Land and buildings | 22 | €626,212 | €597,865 | -€28,347 | -4.5% |
| Plant, machinery and equipment | 23 | €2,365 | €2,669 | +€304 | +12.8% |
| Furniture and vehicles | 24 | €1,462 | €731 | -€731 | -50.0% |
| Current assets | 29/58 | €28,961 | €30,087 | +€1,126 | +3.9% |
| Cash at bank and in hand | 54/58 | €27,969 | €26,514 | -€1,456 | -5.2% |
| Deferred charges and accrued income | 490/1 | €992 | €3,573 | +€2,581 | +260.2% |
| Total equity and liabilities | 10/49 | €659,001 | €631,352 | -€27,649 | -4.2% |
| Equity | 10/15 | €195,676 | €201,232 | +€5,556 | +2.8% |
| Contributions | 10/11 | €138,820 | €138,820 | = | 0.0% |
| Reserves | 13 | €72,807 | €72,807 | = | 0.0% |
| Distributable reserves | 133 | €72,807 | €72,807 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,952 | -€10,395 | +€5,556 | +34.8% |
| Amounts payable | 17/49 | €463,325 | €430,120 | -€33,205 | -7.2% |
| Amounts payable after more than one year | 17 | €295,950 | €266,795 | -€29,155 | -9.9% |
| Financial debts | 170/4 | €289,695 | €261,015 | -€28,680 | -9.9% |
| Other amounts payable | 178/9 | €6,255 | €5,780 | -€475 | -7.6% |
| Amounts payable within one year | 42/48 | €165,127 | €159,893 | -€5,233 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €33,494 | €28,654 | -€4,840 | -14.4% |
| Trade debts | 44 | €856 | €2,285 | +€1,430 | +167.0% |
| Suppliers | 440/4 | €856 | €2,285 | +€1,430 | +167.0% |
| Taxes, remuneration and social security | 45 | €326 | €297 | -€29 | -9.0% |
| Taxes | 450/3 | €326 | €297 | -€29 | -9.0% |
| Other amounts payable | 47/48 | €130,451 | €128,657 | -€1,794 | -1.4% |
| Accrued charges and deferred income | 492/3 | €2,249 | €3,432 | +€1,183 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,765 | €39,527 | +€763 | +2.0% |
| Other operating charges | 640/8 | €9,563 | €9,569 | +€6 | +0.1% |
| Gross operating margin | 9900 | €66,221 | €70,064 | +€3,843 | +5.8% |
| Operating profit (loss) | 9901 | €17,893 | €20,968 | +€3,075 | +17.2% |
| Financial income | 75/76B | €667 | €116 | -€552 | -82.7% |
| Recurring financial income | 75 | €667 | €116 | -€552 | -82.7% |
| Financial charges | 65/66B | €17,395 | €15,353 | -€2,041 | -11.7% |
| Recurring financial charges | 65 | €17,395 | €15,353 | -€2,041 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €1,166 | €5,730 | +€4,564 | +391.4% |
| Transfer from deferred taxes | 780 | €730 | - | -€730 | |
| Income taxes | 67/77 | €173 | €174 | +€1 | +0.4% |
| Profit (loss) for the period | 9904 | €1,723 | €5,556 | +€3,833 | +222.4% |
| Transfer from tax-exempt reserves | 789 | €258 | - | -€258 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,982 | €5,556 | +€3,575 | +180.4% |
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 10 October 2026 via checked.be.