LC KAPELLEN: 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.
LC KAPELLEN
Largest movements
- Receivables within one year +€19,344
up €19,344 (+611%), from €3,168 to €22,512
of which Trade receivables: +€18,563
- Deferred charges and accrued income +€9,446
new in 2025: €9,446
- Tangible fixed assets -€6,868
down €6,868 (-14.4%), from €47,615 to €40,747
- Financial fixed assets +€5,866
up €5,866 (+135%), from €4,338 to €10,204
- Cash +€3,696
up €3,696 (+49.7%), from €7,431 to €11,127
mainly Other debts (+€85,507) and Depreciation (+€7,632)
- Other debts +€85,507
up €85,507 (+165%), from €51,865 to €137,373
- Trade debts -€24,409
down €24,409 (-19.8%), from €123,084 to €98,675
- Debts after one year -€15,000
down €15,000 (-31.6%), from €47,500 to €32,500
- Profit (loss) carried forward -€13,268
new in 2025: -€13,268
- Gross operating margin -€20,569
down €20,569 (-9.3%), from €220,034 to €199,465
- Staff costs +€6,679
up €6,679 (+3.4%), from €195,101 to €201,779
- Other operating charges -€3,378
down €3,378 (-41.9%), from €8,056 to €4,678
- Taxes -€2,774
no longer reported in 2025 (was €2,774)
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 | €286,459 | €314,322 | +€27,864 | +9.7% |
| Fixed assets | 21/28 | €51,953 | €50,951 | -€1,002 | -1.9% |
| Tangible fixed assets | 22/27 | €47,615 | €40,747 | -€6,868 | -14.4% |
| Plant, machinery and equipment | 23 | €47,615 | €40,747 | -€6,868 | -14.4% |
| Financial fixed assets | 28 | €4,338 | €10,204 | +€5,866 | +135% |
| Current assets | 29/58 | €234,506 | €263,372 | +€28,866 | +12.3% |
| Stocks and contracts in progress | 3 | €223,906 | €220,286 | -€3,620 | -1.6% |
| Stocks | 30/36 | €223,906 | €220,286 | -€3,620 | -1.6% |
| Amounts receivable within one year | 40/41 | €3,168 | €22,512 | +€19,344 | +611% |
| Trade receivables | 40 | - | €18,563 | +€18,563 | |
| Other amounts receivable | 41 | €3,168 | €3,949 | +€781 | +24.6% |
| Cash at bank and in hand | 54/58 | €7,431 | €11,127 | +€3,696 | +49.7% |
| Deferred charges and accrued income | 490/1 | - | €9,446 | +€9,446 | |
| Total equity and liabilities | 10/49 | €286,459 | €314,322 | +€27,864 | +9.7% |
| Equity | 10/15 | €33,285 | €20,017 | -€13,268 | -39.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €13,285 | €13,285 | = | 0.0% |
| Distributable reserves | 133 | €13,285 | €13,285 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€13,268 | -€13,268 | |
| Amounts payable | 17/49 | €253,174 | €294,306 | +€41,132 | +16.2% |
| Amounts payable after more than one year | 17 | €47,500 | €32,500 | -€15,000 | -31.6% |
| Financial debts | 170/4 | €47,500 | €32,500 | -€15,000 | -31.6% |
| Amounts payable within one year | 42/48 | €203,373 | €261,806 | +€58,433 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €4,517 | €4,059 | -€458 | -10.1% |
| Trade debts | 44 | €123,084 | €98,675 | -€24,409 | -19.8% |
| Suppliers | 440/4 | €123,084 | €98,675 | -€24,409 | -19.8% |
| Taxes, remuneration and social security | 45 | €23,907 | €21,699 | -€2,208 | -9.2% |
| Taxes | 450/3 | €2,774 | €143 | -€2,632 | -94.9% |
| Remuneration and social security | 454/9 | €21,133 | €21,557 | +€424 | +2.0% |
| Other amounts payable | 47/48 | €51,865 | €137,373 | +€85,507 | +165% |
| Accrued charges and deferred income | 492/3 | €2,301 | - | -€2,301 | |
| Remuneration, social security and pensions | 62 | €195,101 | €201,779 | +€6,679 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,120 | €7,632 | +€512 | +7.2% |
| Other operating charges | 640/8 | €8,056 | €4,678 | -€3,378 | -41.9% |
| Gross operating margin | 9900 | €220,034 | €199,465 | -€20,569 | -9.3% |
| Operating profit (loss) | 9901 | €9,757 | -€14,625 | -€24,382 | |
| Financial income | 75/76B | - | €1,627 | +€1,627 | |
| Recurring financial income | 75 | - | €1,627 | +€1,627 | |
| Financial charges | 65/66B | €984 | €271 | -€714 | -72.5% |
| Recurring financial charges | 65 | €984 | €271 | -€714 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | €8,773 | -€13,268 | -€22,041 | |
| Income taxes | 67/77 | €2,774 | - | -€2,774 | |
| Profit (loss) for the period | 9904 | €5,998 | -€13,268 | -€19,266 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,998 | -€13,268 | -€19,266 |
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 28 October 2026 via checked.be.