LA CAPSULERIE: 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.
LA CAPSULERIE
Largest movements
- Stocks and contracts -€32,679
down €32,679 (-38.8%), from €84,165 to €51,485
- Tangible fixed assets -€27,696
down €27,696 (-6.1%), from €451,030 to €423,334
of which Assets under construction and advance payments: -€16,161
- Intangible fixed assets +€20,137
up €20,137 (+770%), from €2,615 to €22,751
- Profit (loss) carried forward -€82,452
down €82,452 (-47.5%), from -€173,572 to -€256,024
- Other debts +€43,235
up €43,235 (+32.4%), from €133,480 to €176,715
- Trade debts +€10,606
up €10,606 (+3.4%), from €309,849 to €320,455
- Debts after one year -€7,908
down €7,908 (-5.9%), from €133,366 to €125,458
of which Financial debts: -€7,908
- Gross operating margin +€9,881
up €9,881 (+115%), from €8,589 to €18,470
- Staff costs -€9,105
down €9,105 (-11.8%), from €77,193 to €68,088
- Depreciation -€4,996
down €4,996 (-17.9%), from €27,879 to €22,883
- Other operating charges -€1,038
down €1,038 (-56.8%), from €1,826 to €788
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 | €562,986 | €524,453 | -€38,533 | -6.8% |
| Formation expenses | 20 | €2,198 | €1,078 | -€1,120 | -51.0% |
| Fixed assets | 21/28 | €460,205 | €455,546 | -€4,659 | -1.0% |
| Intangible fixed assets | 21 | €2,615 | €22,751 | +€20,137 | +770% |
| Tangible fixed assets | 22/27 | €451,030 | €423,334 | -€27,696 | -6.1% |
| Land and buildings | 22 | €61,507 | €59,766 | -€1,741 | -2.8% |
| Plant, machinery and equipment | 23 | €10,325 | €9,276 | -€1,049 | -10.2% |
| Furniture and vehicles | 24 | €27,062 | €18,514 | -€8,549 | -31.6% |
| Other tangible fixed assets | 26 | €22,614 | €22,417 | -€197 | -0.9% |
| Assets under construction and advance payments | 27 | €329,522 | €313,361 | -€16,161 | -4.9% |
| Financial fixed assets | 28 | €6,560 | €9,460 | +€2,900 | +44.2% |
| Current assets | 29/58 | €100,583 | €67,830 | -€32,753 | -32.6% |
| Stocks and contracts in progress | 3 | €84,165 | €51,485 | -€32,679 | -38.8% |
| Stocks | 30/36 | €84,165 | €51,485 | -€32,679 | -38.8% |
| Amounts receivable within one year | 40/41 | €3,411 | €3,411 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,411 | €3,411 | = | 0.0% |
| Current investments | 50/53 | €27 | €222 | +€195 | +723% |
| Cash at bank and in hand | 54/58 | €11,284 | €10,543 | -€741 | -6.6% |
| Deferred charges and accrued income | 490/1 | €1,697 | €2,169 | +€472 | +27.8% |
| Total equity and liabilities | 10/49 | €562,986 | €524,453 | -€38,533 | -6.8% |
| Equity | 10/15 | -€33,112 | -€115,564 | -€82,452 | -249% |
| Contributions | 10/11 | €138,600 | €138,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,572 | -€256,024 | -€82,452 | -47.5% |
| Amounts payable | 17/49 | €596,098 | €640,017 | +€43,919 | +7.4% |
| Amounts payable after more than one year | 17 | €133,366 | €125,458 | -€7,908 | -5.9% |
| Financial debts | 170/4 | €13,366 | €5,458 | -€7,908 | -59.2% |
| Other amounts payable | 178/9 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €462,731 | €514,559 | +€51,828 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €7,586 | €7,908 | +€322 | +4.3% |
| Trade debts | 44 | €309,849 | €320,455 | +€10,606 | +3.4% |
| Suppliers | 440/4 | €309,849 | €320,455 | +€10,606 | +3.4% |
| Taxes, remuneration and social security | 45 | €11,817 | €9,481 | -€2,336 | -19.8% |
| Taxes | 450/3 | €3,469 | €1,518 | -€1,951 | -56.2% |
| Remuneration and social security | 454/9 | €8,348 | €7,964 | -€384 | -4.6% |
| Other amounts payable | 47/48 | €133,480 | €176,715 | +€43,235 | +32.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €77,193 | €68,088 | -€9,105 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,879 | €22,883 | -€4,996 | -17.9% |
| Other operating charges | 640/8 | €1,826 | €788 | -€1,038 | -56.8% |
| Non-recurring operating charges | 66A | €2,342 | €0 | -€2,342 | -100% |
| Gross operating margin | 9900 | €8,589 | €18,470 | +€9,881 | +115% |
| Operating profit (loss) | 9901 | -€100,652 | -€73,289 | +€27,362 | +27.2% |
| Financial income | 75/76B | €0 | €142 | +€142 | |
| Recurring financial income | 75 | €0 | €142 | +€142 | |
| Financial charges | 65/66B | €9,174 | €9,305 | +€131 | +1.4% |
| Recurring financial charges | 65 | €9,174 | €9,305 | +€131 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€109,826 | -€82,452 | +€27,374 | +24.9% |
| Profit (loss) for the period | 9904 | -€109,826 | -€82,452 | +€27,374 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€109,826 | -€82,452 | +€27,374 | +24.9% |
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 23 October 2026 via checked.be.