X-CAPE: 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.
X-CAPE
Largest movements
- Receivables within one year +€71,474
up €71,474 (+444%), from €16,103 to €87,577
of which Other amounts receivable: +€76,073
- Cash -€47,740
no longer reported in 2024 (was €47,740)
mainly Receivables within one year (-€71,474) and Debts after one year (-€17,431)
- Tangible fixed assets -€20,400
down €20,400 (-9.2%), from €220,739 to €200,339
- Debts after one year -€17,431
down €17,431 (-8.2%), from €213,863 to €196,432
- Short-term financial debts +€8,622
new in 2024: €8,622
- Profit (loss) carried forward +€3,777
up €3,777 (+0.9%), from -€411,067 to -€407,290
- Gross operating margin -€7,972
down €7,972 (-17.9%), from €44,430 to €36,458
- Purchases and services +€4,258
up €4,258 (+94.4%), from €4,510 to €8,768
- Turnover -€3,714
down €3,714 (-7.6%), from €48,940 to €45,226
- Other operating charges -€3,051
down €3,051 (-31.9%), from €9,566 to €6,515
- Financial income +€2,975
new in 2024: €2,975
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €293,351 | €294,975 | +€1,624 | +0.6% |
| Formation expenses | 20 | €2,479 | €1,980 | -€499 | -20.1% |
| Fixed assets | 21/28 | €223,218 | €202,818 | -€20,400 | -9.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €220,739 | €200,339 | -€20,400 | -9.2% |
| Land and buildings | 22 | €220,739 | €200,339 | -€20,400 | -9.2% |
| Financial fixed assets | 28 | €2,479 | €2,479 | = | 0.0% |
| Current assets | 29/58 | €67,654 | €90,177 | +€22,523 | +33.3% |
| Amounts receivable within one year | 40/41 | €16,103 | €87,577 | +€71,474 | +444% |
| Trade receivables | 40 | €11,951 | €7,352 | -€4,599 | -38.5% |
| Other amounts receivable | 41 | €4,152 | €80,225 | +€76,073 | +1,832% |
| Cash at bank and in hand | 54/58 | €47,740 | - | -€47,740 | |
| Deferred charges and accrued income | 490/1 | €3,811 | €2,600 | -€1,211 | -31.8% |
| Total equity and liabilities | 10/49 | €293,351 | €294,975 | +€1,624 | +0.6% |
| Equity | 10/15 | €59,268 | €63,639 | +€4,371 | +7.4% |
| Contributions | 10/11 | €470,000 | €470,000 | = | 0.0% |
| Capital | 10 | €470,000 | €470,000 | = | 0.0% |
| Issued capital | 100 | €470,000 | €470,000 | = | 0.0% |
| Reserves | 13 | €335 | €929 | +€594 | +177% |
| Non-distributable reserves | 130/1 | €335 | €929 | +€594 | +177% |
| Legal reserve | 130 | €335 | €929 | +€594 | +177% |
| Profit (loss) carried forward | 14 | -€411,067 | -€407,290 | +€3,777 | +0.9% |
| Amounts payable | 17/49 | €234,083 | €231,336 | -€2,747 | -1.2% |
| Amounts payable after more than one year | 17 | €213,863 | €196,432 | -€17,431 | -8.2% |
| Financial debts | 170/4 | €213,863 | €196,432 | -€17,431 | -8.2% |
| Amounts payable within one year | 42/48 | €20,220 | €32,304 | +€12,084 | +59.8% |
| Current portion of amounts payable after more than one year | 42 | €16,959 | €17,430 | +€471 | +2.8% |
| Financial debts | 43 | - | €8,622 | +€8,622 | |
| Credit institutions | 430/8 | - | €8,622 | +€8,622 | |
| Trade debts | 44 | €3,261 | €4,386 | +€1,125 | +34.5% |
| Suppliers | 440/4 | €3,261 | €4,386 | +€1,125 | +34.5% |
| Taxes, remuneration and social security | 45 | - | €1,563 | +€1,563 | |
| Taxes | 450/3 | - | €1,563 | +€1,563 | |
| Other amounts payable | 47/48 | - | €303 | +€303 | |
| Accrued charges and deferred income | 492/3 | - | €2,600 | +€2,600 | |
| Turnover | 70 | €48,940 | €45,226 | -€3,714 | -7.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,510 | €8,768 | +€4,258 | +94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,935 | €20,898 | +€963 | +4.8% |
| Other operating charges | 640/8 | €9,566 | €6,515 | -€3,051 | -31.9% |
| Gross operating margin | 9900 | €44,430 | €36,458 | -€7,972 | -17.9% |
| Operating profit (loss) | 9901 | €14,928 | €9,045 | -€5,883 | -39.4% |
| Financial income | 75/76B | - | €2,975 | +€2,975 | |
| Recurring financial income | 75 | - | €2,975 | +€2,975 | |
| Financial charges | 65/66B | €7,419 | €7,649 | +€230 | +3.1% |
| Recurring financial charges | 65 | €7,419 | €7,649 | +€230 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €7,510 | €4,371 | -€3,139 | -41.8% |
| Profit (loss) for the period | 9904 | €7,510 | €4,371 | -€3,139 | -41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,510 | €4,371 | -€3,139 | -41.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.