KAPITOL - E: 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.
KAPITOL - E
Largest movements
- Tangible fixed assets -€12,169
down €12,169 (-30.9%), from €39,319 to €27,150
of which Furniture and vehicles: -€11,969
- Receivables within one year -€10,143
down €10,143 (-41.3%), from €24,551 to €14,408
of which Trade receivables: -€6,005
- Short-term financial debts -€32,247
down €32,247 (-95.0%), from €33,933 to €1,686
- Trade debts +€19,342
up €19,342 (+818.5%), from €2,363 to €21,706
- Other debts -€15,479
down €15,479 (-47.0%), from €32,905 to €17,426
- Reserves +€8,099
up €8,099 (+5.9%), from €137,068 to €145,166
of which Distributable reserves: +€8,099
- Gross operating margin -€1,725
down €1,725 (-5.4%), from €32,020 to €30,294
- Financial charges -€1,021
down €1,021 (-15.6%), from €6,540 to €5,519
- Other operating charges -€454
down €454 (-35.1%), from €1,294 to €841
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 | €331,492 | €311,883 | -€19,609 | -5.9% |
| Fixed assets | 21/28 | €306,819 | €294,650 | -€12,169 | -4.0% |
| Tangible fixed assets | 22/27 | €39,319 | €27,150 | -€12,169 | -30.9% |
| Land and buildings | 22 | €1,166 | €966 | -€200 | -17.2% |
| Furniture and vehicles | 24 | €38,153 | €26,184 | -€11,969 | -31.4% |
| Financial fixed assets | 28 | €267,500 | €267,500 | = | 0.0% |
| Current assets | 29/58 | €24,673 | €17,232 | -€7,440 | -30.2% |
| Amounts receivable within one year | 40/41 | €24,551 | €14,408 | -€10,143 | -41.3% |
| Trade receivables | 40 | €12,938 | €6,933 | -€6,005 | -46.4% |
| Other amounts receivable | 41 | €11,613 | €7,475 | -€4,138 | -35.6% |
| Cash at bank and in hand | 54/58 | €122 | €2,825 | +€2,703 | +2215.7% |
| Total equity and liabilities | 10/49 | €331,492 | €311,883 | -€19,609 | -5.9% |
| Equity | 10/15 | €143,268 | €151,366 | +€8,099 | +5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €137,068 | €145,166 | +€8,099 | +5.9% |
| Non-distributable reserves | 130/1 | €2,475 | €2,475 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,475 | €2,475 | = | 0.0% |
| Distributable reserves | 133 | €134,593 | €142,692 | +€8,099 | +6.0% |
| Amounts payable | 17/49 | €188,224 | €160,517 | -€27,708 | -14.7% |
| Amounts payable after more than one year | 17 | €113,139 | €113,139 | = | 0.0% |
| Financial debts | 170/4 | €113,139 | €113,139 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,085 | €47,377 | -€27,708 | -36.9% |
| Financial debts | 43 | €33,933 | €1,686 | -€32,247 | -95.0% |
| Credit institutions | 430/8 | €33,933 | €1,686 | -€32,247 | -95.0% |
| Trade debts | 44 | €2,363 | €21,706 | +€19,342 | +818.5% |
| Suppliers | 440/4 | €2,363 | €21,706 | +€19,342 | +818.5% |
| Taxes, remuneration and social security | 45 | €5,884 | €6,559 | +€676 | +11.5% |
| Taxes | 450/3 | €5,884 | €6,559 | +€676 | +11.5% |
| Other amounts payable | 47/48 | €32,905 | €17,426 | -€15,479 | -47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,169 | €12,169 | = | 0.0% |
| Other operating charges | 640/8 | €1,294 | €841 | -€454 | -35.1% |
| Gross operating margin | 9900 | €32,020 | €30,294 | -€1,725 | -5.4% |
| Operating profit (loss) | 9901 | €18,557 | €17,285 | -€1,272 | -6.9% |
| Financial income | 75/76B | €3 | €6 | +€3 | +109.5% |
| Recurring financial income | 75 | €3 | €6 | +€3 | +109.5% |
| Financial charges | 65/66B | €6,540 | €5,519 | -€1,021 | -15.6% |
| Recurring financial charges | 65 | €6,540 | €5,519 | -€1,021 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €12,020 | €11,772 | -€247 | -2.1% |
| Income taxes | 67/77 | €3,852 | €3,674 | -€178 | -4.6% |
| Profit (loss) for the period | 9904 | €8,167 | €8,099 | -€69 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,167 | €8,099 | -€69 | -0.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.