KAPSALON FERRO: 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.
KAPSALON FERRO
Largest movements
- Tangible fixed assets +€2,982
up €2,982 (+15.4%), from €19,382 to €22,364
of which Furniture and vehicles: +€7,925
- Cash -€2,627
down €2,627 (-4.8%), from €54,837 to €52,210
mainly Investment in fixed assets (net) (-€13,335) and Tax, wage and social debts (-€9,706)
- Receivables within one year +€2,020
up €2,020 (+10.4%), from €19,351 to €21,371
of which Trade receivables: +€1,517
- Stocks and contracts +€1,175
up €1,175 (+32.9%), from €3,568 to €4,743
- Reserves +€14,530
up €14,530 (+33.2%), from €43,728 to €58,258
- Tax, wage and social debts -€9,706
down €9,706 (-34.5%), from €28,155 to €18,449
of which Taxes: -€13,869
- Debts after one year -€2,350
down €2,350 (-21.4%), from €10,973 to €8,623
- Trade debts +€1,057
up €1,057 (+16.3%), from €6,491 to €7,548
- Staff costs +€3,459
up €3,459 (+4.6%), from €74,528 to €77,988
- Depreciation +€2,737
up €2,737 (+35.9%), from €7,616 to €10,353
- Taxes -€2,116
down €2,116 (-32.7%), from €6,467 to €4,351
- Other operating charges -€1,167
down €1,167 (-69.2%), from €1,686 to €518
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 | €97,569 | €101,229 | +€3,660 | +3.8% |
| Fixed assets | 21/28 | €19,745 | €22,727 | +€2,982 | +15.1% |
| Tangible fixed assets | 22/27 | €19,382 | €22,364 | +€2,982 | +15.4% |
| Plant, machinery and equipment | 23 | €11,535 | €11,456 | -€80 | -0.7% |
| Furniture and vehicles | 24 | €2,594 | €10,519 | +€7,925 | +306% |
| Other tangible fixed assets | 26 | €5,253 | €389 | -€4,863 | -92.6% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €77,824 | €78,502 | +€677 | +0.9% |
| Stocks and contracts in progress | 3 | €3,568 | €4,743 | +€1,175 | +32.9% |
| Stocks | 30/36 | €3,568 | €4,743 | +€1,175 | +32.9% |
| Amounts receivable within one year | 40/41 | €19,351 | €21,371 | +€2,020 | +10.4% |
| Trade receivables | 40 | €1,614 | €3,131 | +€1,517 | +93.9% |
| Other amounts receivable | 41 | €17,737 | €18,241 | +€504 | +2.8% |
| Cash at bank and in hand | 54/58 | €54,837 | €52,210 | -€2,627 | -4.8% |
| Deferred charges and accrued income | 490/1 | €68 | €177 | +€109 | +160% |
| Total equity and liabilities | 10/49 | €97,569 | €101,229 | +€3,660 | +3.8% |
| Equity | 10/15 | €49,728 | €64,258 | +€14,530 | +29.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €43,728 | €58,258 | +€14,530 | +33.2% |
| Distributable reserves | 133 | €43,728 | €58,258 | +€14,530 | +33.2% |
| Amounts payable | 17/49 | €47,841 | €36,971 | -€10,870 | -22.7% |
| Amounts payable after more than one year | 17 | €10,973 | €8,623 | -€2,350 | -21.4% |
| Financial debts | 170/4 | €10,973 | €8,623 | -€2,350 | -21.4% |
| Amounts payable within one year | 42/48 | €36,868 | €28,347 | -€8,520 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €2,221 | €2,350 | +€129 | +5.8% |
| Trade debts | 44 | €6,491 | €7,548 | +€1,057 | +16.3% |
| Suppliers | 440/4 | €6,491 | €7,548 | +€1,057 | +16.3% |
| Taxes, remuneration and social security | 45 | €28,155 | €18,449 | -€9,706 | -34.5% |
| Taxes | 450/3 | €28,155 | €14,287 | -€13,869 | -49.3% |
| Remuneration and social security | 454/9 | - | €4,162 | +€4,162 | |
| Remuneration, social security and pensions | 62 | €74,528 | €77,988 | +€3,459 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,616 | €10,353 | +€2,737 | +35.9% |
| Other operating charges | 640/8 | €1,686 | €518 | -€1,167 | -69.2% |
| Non-recurring operating charges | 66A | €667 | - | -€667 | |
| Gross operating margin | 9900 | €108,482 | €109,157 | +€675 | +0.6% |
| Operating profit (loss) | 9901 | €23,985 | €20,298 | -€3,687 | -15.4% |
| Financial income | 75/76B | €1,214 | €1,007 | -€207 | -17.0% |
| Recurring financial income | 75 | €1,214 | €46 | -€1,168 | -96.2% |
| Non-recurring financial income | 76B | - | €961 | +€961 | |
| Financial charges | 65/66B | €1,958 | €2,424 | +€466 | +23.8% |
| Recurring financial charges | 65 | €1,958 | €2,424 | +€466 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €23,241 | €18,881 | -€4,360 | -18.8% |
| Income taxes | 67/77 | €6,467 | €4,351 | -€2,116 | -32.7% |
| Profit (loss) for the period | 9904 | €16,774 | €14,530 | -€2,243 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,774 | €14,530 | -€2,243 | -13.4% |
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 13 October 2026 via checked.be.