THREE CAPITAL: 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.
THREE CAPITAL
Largest movements
- Intangible fixed assets +€38,657
up €38,657 (+60.4%), from €64,000 to €102,657
- Cash +€7,444
up €7,444 (+1494.7%), from €498 to €7,942
mainly Debts after one year (+€59,776) and Current portion of long-term debt (+€29,048)
- Debts after one year +€59,776
up €59,776 (+157.9%), from €37,865 to €97,641
- Current portion of long-term debt +€29,048
up €29,048 (+424.6%), from €6,842 to €35,890
- Profit (loss) carried forward -€28,037
down €28,037 (-78.5%), from -€35,718 to -€63,755
- Trade debts -€9,654
down €9,654 (-81.7%), from €11,813 to €2,159
- Tax, wage and social debts -€7,217
down €7,217 (-35.5%), from €20,321 to €13,104
of which Taxes: -€4,944
- Gross operating margin -€27,821
down €27,821 (-36.1%), from €77,128 to €49,307
- Taxes -€8,795
new in 2025: -€8,795
- Other operating charges +€2,898
up €2,898 (+116.6%), from €2,486 to €5,384
- Financial charges +€2,339
up €2,339 (+307.0%), from €762 to €3,101
- Staff costs +€2,337
up €2,337 (+4.0%), from €58,393 to €60,730
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 | €66,569 | €111,626 | +€45,057 | +67.7% |
| Fixed assets | 21/28 | €64,770 | €102,819 | +€38,049 | +58.7% |
| Intangible fixed assets | 21 | €64,000 | €102,657 | +€38,657 | +60.4% |
| Tangible fixed assets | 22/27 | €770 | €163 | -€607 | -78.9% |
| Plant, machinery and equipment | 23 | €307 | €154 | -€153 | -49.9% |
| Furniture and vehicles | 24 | €463 | €9 | -€454 | -98.0% |
| Current assets | 29/58 | €1,799 | €8,807 | +€7,008 | +389.5% |
| Amounts receivable within one year | 40/41 | €1,168 | €865 | -€303 | -25.9% |
| Trade receivables | 40 | €446 | - | -€446 | |
| Other amounts receivable | 41 | €722 | €865 | +€143 | +19.8% |
| Cash at bank and in hand | 54/58 | €498 | €7,942 | +€7,444 | +1494.7% |
| Deferred charges and accrued income | 490/1 | €133 | - | -€133 | |
| Total equity and liabilities | 10/49 | €66,569 | €111,626 | +€45,057 | +67.7% |
| Equity | 10/15 | - | -€49,642 | -€49,642 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,913 | €7,912 | -€1 | 0.0% |
| Distributable reserves | 133 | €7,913 | €7,912 | -€1 | 0.0% |
| Profit (loss) carried forward | 14 | -€35,718 | -€63,755 | -€28,037 | -78.5% |
| Amounts payable | 17/49 | €88,174 | €161,269 | +€73,095 | +82.9% |
| Amounts payable after more than one year | 17 | €37,865 | €97,641 | +€59,776 | +157.9% |
| Financial debts | 170/4 | €37,865 | €97,641 | +€59,776 | +157.9% |
| Amounts payable within one year | 42/48 | €50,309 | €63,628 | +€13,319 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €6,842 | €35,890 | +€29,048 | +424.6% |
| Financial debts | 43 | €1,243 | €1,249 | +€6 | +0.5% |
| Credit institutions | 430/8 | €1,243 | €1,249 | +€6 | +0.5% |
| Trade debts | 44 | €11,813 | €2,159 | -€9,654 | -81.7% |
| Suppliers | 440/4 | €11,813 | €2,159 | -€9,654 | -81.7% |
| Taxes, remuneration and social security | 45 | €20,321 | €13,104 | -€7,217 | -35.5% |
| Taxes | 450/3 | €4,944 | - | -€4,944 | |
| Remuneration and social security | 454/9 | €15,377 | €13,104 | -€2,273 | -14.8% |
| Other amounts payable | 47/48 | €10,090 | €11,227 | +€1,137 | +11.3% |
| Remuneration, social security and pensions | 62 | €58,393 | €60,730 | +€2,337 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,984 | €16,924 | -€60 | -0.4% |
| Other operating charges | 640/8 | €2,486 | €5,384 | +€2,898 | +116.6% |
| Gross operating margin | 9900 | €77,128 | €49,307 | -€27,821 | -36.1% |
| Operating profit (loss) | 9901 | -€735 | -€33,731 | -€32,996 | -4489.2% |
| Financial charges | 65/66B | €762 | €3,101 | +€2,339 | +307.0% |
| Recurring financial charges | 65 | €762 | €3,101 | +€2,339 | +307.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,497 | -€36,832 | -€35,335 | -2360.4% |
| Income taxes | 67/77 | - | -€8,795 | -€8,795 | |
| Profit (loss) for the period | 9904 | -€1,497 | -€28,037 | -€26,540 | -1772.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,497 | -€28,037 | -€26,540 | -1772.9% |
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 8 October 2026 via checked.be.