KAPESINO: 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.
KAPESINO
Largest movements
- Cash +€391,565
up €391,565 (+116%), from €337,098 to €728,663
mainly Net result for the year (+€419,399) and Current investments (+€102,849)
- Current investments -€102,849
down €102,849 (-44.8%), from €229,346 to €126,496
- Receivables within one year +€71,993
up €71,993 (+21,902%), from €329 to €72,322
of which Trade receivables: +€72,085
- Tangible fixed assets -€42,853
down €42,853 (-5.0%), from €859,722 to €816,869
of which Furniture and vehicles: -€29,585
- Reserves +€247,971
up €247,971 (+20.3%), from €1.2m to €1.5m
- Tax, wage and social debts +€68,124
up €68,124 (+272%), from €25,046 to €93,169
of which Taxes: +€68,806
- Debts after one year -€35,880
down €35,880 (-29.1%), from €123,098 to €87,218
- Other debts +€33,431
up €33,431 (+176%), from €18,996 to €52,427
- Gross operating margin +€177,504
up €177,504 (+155%), from €114,544 to €292,047
- Taxes +€56,251
up €56,251 (+166%), from €33,932 to €90,183
- Financial income -€17,772
down €17,772 (-5.2%), from €343,566 to €325,794
of which Financial income: -€35,862
- Depreciation +€10,780
up €10,780 (+13.9%), from €77,602 to €88,382
- Financial charges +€9,817
up €9,817 (+174%), from €5,647 to €15,464
of which Financial charges: +€10,213
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 | €1,652,130 | €1,971,939 | +€319,809 | +19.4% |
| Fixed assets | 21/28 | €1,084,108 | €1,041,255 | -€42,853 | -4.0% |
| Tangible fixed assets | 22/27 | €859,722 | €816,869 | -€42,853 | -5.0% |
| Land and buildings | 22 | €787,012 | €774,412 | -€12,600 | -1.6% |
| Plant, machinery and equipment | 23 | €4,253 | €3,585 | -€668 | -15.7% |
| Furniture and vehicles | 24 | €68,457 | €38,873 | -€29,585 | -43.2% |
| Financial fixed assets | 28 | €224,386 | €224,386 | = | 0.0% |
| Current assets | 29/58 | €568,022 | €930,684 | +€362,662 | +63.8% |
| Amounts receivable within one year | 40/41 | €329 | €72,322 | +€71,993 | +21,902% |
| Trade receivables | 40 | - | €72,085 | +€72,085 | |
| Other amounts receivable | 41 | €329 | €237 | -€92 | -28.0% |
| Current investments | 50/53 | €229,346 | €126,496 | -€102,849 | -44.8% |
| Cash at bank and in hand | 54/58 | €337,098 | €728,663 | +€391,565 | +116% |
| Deferred charges and accrued income | 490/1 | €1,249 | €3,203 | +€1,953 | +156% |
| Total equity and liabilities | 10/49 | €1,652,130 | €1,971,939 | +€319,809 | +19.4% |
| Equity | 10/15 | €1,446,096 | €1,694,067 | +€247,971 | +17.1% |
| Contributions | 10/11 | €225,430 | €225,430 | = | 0.0% |
| Reserves | 13 | €1,220,666 | €1,468,637 | +€247,971 | +20.3% |
| Distributable reserves | 133 | €1,220,666 | €1,468,637 | +€247,971 | +20.3% |
| Amounts payable | 17/49 | €206,034 | €277,873 | +€71,839 | +34.9% |
| Amounts payable after more than one year | 17 | €123,098 | €87,218 | -€35,880 | -29.1% |
| Financial debts | 170/4 | €123,098 | €87,218 | -€35,880 | -29.1% |
| Amounts payable within one year | 42/48 | €82,936 | €188,246 | +€105,309 | +127% |
| Current portion of amounts payable after more than one year | 42 | €34,706 | €35,880 | +€1,174 | +3.4% |
| Trade debts | 44 | €4,188 | €6,770 | +€2,582 | +61.6% |
| Suppliers | 440/4 | €4,188 | €6,770 | +€2,582 | +61.6% |
| Taxes, remuneration and social security | 45 | €25,046 | €93,169 | +€68,124 | +272% |
| Taxes | 450/3 | €24,363 | €93,169 | +€68,806 | +282% |
| Remuneration and social security | 454/9 | €682 | €0 | -€682 | -100% |
| Other amounts payable | 47/48 | €18,996 | €52,427 | +€33,431 | +176% |
| Accrued charges and deferred income | 492/3 | - | €2,409 | +€2,409 | |
| Non-recurring operating income | 76A | €6,430 | - | -€6,430 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,602 | €88,382 | +€10,780 | +13.9% |
| Other operating charges | 640/8 | €3,682 | €4,413 | +€731 | +19.8% |
| Gross operating margin | 9900 | €114,544 | €292,047 | +€177,504 | +155% |
| Operating profit (loss) | 9901 | €33,260 | €199,253 | +€165,993 | +499% |
| Financial income | 75/76B | €343,566 | €325,794 | -€17,772 | -5.2% |
| Recurring financial income | 75 | €340,438 | €304,576 | -€35,862 | -10.5% |
| Non-recurring financial income | 76B | €3,128 | €21,218 | +€18,090 | +578% |
| Financial charges | 65/66B | €5,647 | €15,464 | +€9,817 | +174% |
| Recurring financial charges | 65 | €5,251 | €15,464 | +€10,213 | +194% |
| Non-recurring financial charges | 66B | €396 | - | -€396 | |
| Profit (loss) for the period before taxes | 9903 | €371,178 | €509,582 | +€138,404 | +37.3% |
| Income taxes | 67/77 | €33,932 | €90,183 | +€56,251 | +166% |
| Profit (loss) for the period | 9904 | €337,246 | €419,399 | +€82,153 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €337,246 | €419,399 | +€82,153 | +24.4% |
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 30 October 2026 via checked.be.