YVES CAPPON: 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.
YVES CAPPON
Largest movements
- Cash -€61,702
down €61,702 (-70.8%), from €87,150 to €25,447
mainly Other debts (-€107,377) and Contributions, distributions and other (-€32,953)
- Tangible fixed assets -€40,291
down €40,291 (-4.6%), from €880,630 to €840,339
of which Land and buildings: -€34,332
- Other debts -€107,377
down €107,377 (-39.2%), from €274,232 to €166,856
- Depreciation -€7,847
down €7,847 (-12.1%), from €64,756 to €56,909
- Financial charges -€5,488
down €5,488 (-22.4%), from €24,455 to €18,967
- Gross operating margin -€3,417
down €3,417 (-2.4%), from €144,681 to €141,264
- Taxes +€2,385
up €2,385 (+13.3%), from €17,932 to €20,318
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 | €998,386 | €898,471 | -€99,914 | -10.0% |
| Fixed assets | 21/28 | €880,630 | €840,339 | -€40,291 | -4.6% |
| Tangible fixed assets | 22/27 | €880,630 | €840,339 | -€40,291 | -4.6% |
| Land and buildings | 22 | €839,937 | €805,605 | -€34,332 | -4.1% |
| Plant, machinery and equipment | 23 | €6,661 | €9,309 | +€2,648 | +39.8% |
| Furniture and vehicles | 24 | €33,992 | €25,391 | -€8,601 | -25.3% |
| Other tangible fixed assets | 26 | €39 | €34 | -€5 | -13.0% |
| Current assets | 29/58 | €117,756 | €58,132 | -€59,624 | -50.6% |
| Amounts receivable within one year | 40/41 | €24,206 | €26,485 | +€2,280 | +9.4% |
| Trade receivables | 40 | €18,984 | €21,719 | +€2,735 | +14.4% |
| Other amounts receivable | 41 | €5,222 | €4,767 | -€455 | -8.7% |
| Cash at bank and in hand | 54/58 | €87,150 | €25,447 | -€61,702 | -70.8% |
| Deferred charges and accrued income | 490/1 | €6,401 | €6,200 | -€201 | -3.1% |
| Total equity and liabilities | 10/49 | €998,386 | €898,471 | -€99,914 | -10.0% |
| Equity | 10/15 | €611,454 | €619,422 | +€7,968 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €592,854 | €600,822 | +€7,968 | +1.3% |
| Tax-exempt reserves | 132 | €153,472 | €144,084 | -€9,388 | -6.1% |
| Distributable reserves | 133 | €439,382 | €456,738 | +€17,356 | +4.0% |
| Provisions and deferred taxes | 16 | €51,157 | €48,028 | -€3,129 | -6.1% |
| Deferred taxes | 168 | €51,157 | €48,028 | -€3,129 | -6.1% |
| Amounts payable | 17/49 | €335,774 | €231,021 | -€104,753 | -31.2% |
| Amounts payable after more than one year | 17 | €50,970 | €52,905 | +€1,935 | +3.8% |
| Financial debts | 170/4 | €50,750 | €50,750 | = | 0.0% |
| Other amounts payable | 178/9 | €220 | €2,155 | +€1,935 | +880% |
| Amounts payable within one year | 42/48 | €283,627 | €176,171 | -€107,455 | -37.9% |
| Trade debts | 44 | €71 | €1,636 | +€1,565 | +2,200% |
| Suppliers | 440/4 | €71 | €1,636 | +€1,565 | +2,200% |
| Taxes, remuneration and social security | 45 | €9,323 | €7,679 | -€1,644 | -17.6% |
| Taxes | 450/3 | €3,255 | €3,255 | = | 0.0% |
| Remuneration and social security | 454/9 | €6,068 | €4,424 | -€1,644 | -27.1% |
| Other amounts payable | 47/48 | €274,232 | €166,856 | -€107,377 | -39.2% |
| Accrued charges and deferred income | 492/3 | €1,178 | €1,945 | +€768 | +65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,756 | €56,909 | -€7,847 | -12.1% |
| Other operating charges | 640/8 | €7,395 | €7,559 | +€164 | +2.2% |
| Gross operating margin | 9900 | €144,681 | €141,264 | -€3,417 | -2.4% |
| Operating profit (loss) | 9901 | €72,530 | €76,796 | +€4,266 | +5.9% |
| Financial income | 75/76B | €513 | €281 | -€232 | -45.3% |
| Recurring financial income | 75 | €513 | €281 | -€232 | -45.3% |
| Financial charges | 65/66B | €24,455 | €18,967 | -€5,488 | -22.4% |
| Recurring financial charges | 65 | €24,455 | €18,967 | -€5,488 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €48,588 | €58,109 | +€9,521 | +19.6% |
| Transfer from deferred taxes | 780 | €3,253 | €3,129 | -€123 | -3.8% |
| Income taxes | 67/77 | €17,932 | €20,318 | +€2,385 | +13.3% |
| Profit (loss) for the period | 9904 | €33,909 | €40,921 | +€7,013 | +20.7% |
| Transfer from tax-exempt reserves | 789 | €9,758 | €9,388 | -€370 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,667 | €50,309 | +€6,642 | +15.2% |
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 24 October 2026 via checked.be.