CAPTEL: what changed
What changed
CAPTEL
NACE 61.100, Wired, wireless and satellite telecommunications
filed annual accounts (NBB)
Net result for the year
€104,503
2024 · €109,825-€5,322
Equity
€698,035
2024 · €718,448-€20,413
Cash
€207,959
2024 · €308,854-€100,895
Balance sheet total
€1.4m
2024 · €1.5m-€112,721
Largest movements
Assets
- Cash -€100,895
down €100,895 (-32.7%), from €308,854 to €207,959
mainly Investment in fixed assets (net) (-€143,568) and Contributions, distributions and other (-€124,916)
- Intangible fixed assets +€54,982
up €54,982 (+49.7%), from €110,572 to €165,554
- Tangible fixed assets -€50,542
down €50,542 (-7.1%), from €710,625 to €660,083
of which Land and buildings: -€30,680
- Receivables within one year -€24,833
down €24,833 (-6.6%), from €376,614 to €351,781
Equity and liabilities
- Debts after one year -€43,715
down €43,715 (-68.0%), from €64,327 to €20,612
- Short-term financial debts -€33,296
down €33,296 (-28.1%), from €118,401 to €85,105
- Profit (loss) carried forward -€15,497
down €15,497 (-7.9%), from €195,166 to €179,669
Income statement
- Depreciation +€36,189
up €36,189 (+35.2%), from €102,939 to €139,128
- Gross operating margin +€20,833
up €20,833 (+1.3%), from €1.7m to €1.7m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€109,825
Gross operating margin
+€20,833
Staff costs
-€7,613
Depreciation
-€36,189
Write-downs
+€3,069
Other operating charges
+€13,051
Financial income
-€1,356
Financial charges
+€1,001
Taxes
+€1,883
Result 2025
€104,503
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€255,795
Investment
-€143,568
Financing
-€213,122
Cash 2024
€308,854
From operations (derived)
+€255,795
Net result for the year
+€104,503
Depreciation
+€139,128
Receivables within one year
+€24,833
Deferred charges and accrued income
-€8,567
Provisions
-€531
Trade debts
+€2,032
Tax, wage and social debts
-€1,937
Other debts
-€2,745
Accrued charges and deferred income
-€921
Investment (derived)
-€143,568
Investment in fixed assets (net)
-€143,568
Financing
-€213,122
Debts after one year
-€43,715
Current portion of long-term debt
-€11,196
Short-term financial debts
-€33,296
Contributions, distributions and other
-€124,916
Cash 2025
€207,959
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,532,481 | €1,419,760 | -€112,721 | -7.4% |
| Fixed assets | 21/28 | €832,957 | €837,396 | +€4,439 | +0.5% |
| Intangible fixed assets | 21 | €110,572 | €165,554 | +€54,982 | +49.7% |
| Tangible fixed assets | 22/27 | €710,625 | €660,083 | -€50,542 | -7.1% |
| Land and buildings | 22 | €401,466 | €370,787 | -€30,680 | -7.6% |
| Plant, machinery and equipment | 23 | €195,166 | €180,608 | -€14,558 | -7.5% |
| Furniture and vehicles | 24 | €53,289 | €27,832 | -€25,456 | -47.8% |
| Assets under construction and advance payments | 27 | €60,705 | €80,856 | +€20,151 | +33.2% |
| Financial fixed assets | 28 | €11,759 | €11,759 | = | 0.0% |
| Current assets | 29/58 | €699,524 | €582,364 | -€117,160 | -16.7% |
| Amounts receivable within one year | 40/41 | €376,614 | €351,781 | -€24,833 | -6.6% |
| Trade receivables | 40 | €376,614 | €351,781 | -€24,833 | -6.6% |
| Cash at bank and in hand | 54/58 | €308,854 | €207,959 | -€100,895 | -32.7% |
| Deferred charges and accrued income | 490/1 | €14,056 | €22,624 | +€8,567 | +60.9% |
| Total equity and liabilities | 10/49 | €1,532,481 | €1,419,760 | -€112,721 | -7.4% |
| Equity | 10/15 | €718,448 | €698,035 | -€20,413 | -2.8% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €44,700 | €44,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,700 | €22,700 | = | 0.0% |
| Legal reserve | 130 | €22,700 | €22,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,166 | €179,669 | -€15,497 | -7.9% |
| Investment grants | 15 | €78,582 | €73,666 | -€4,916 | -6.3% |
| Provisions and deferred taxes | 16 | €3,869 | €3,338 | -€531 | -13.7% |
| Deferred taxes | 168 | €3,869 | €3,338 | -€531 | -13.7% |
| Amounts payable | 17/49 | €810,164 | €718,386 | -€91,778 | -11.3% |
| Amounts payable after more than one year | 17 | €64,327 | €20,612 | -€43,715 | -68.0% |
| Financial debts | 170/4 | €64,327 | €20,612 | -€43,715 | -68.0% |
| Amounts payable within one year | 42/48 | €704,792 | €657,650 | -€47,141 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €56,420 | €45,224 | -€11,196 | -19.8% |
| Financial debts | 43 | €118,401 | €85,105 | -€33,296 | -28.1% |
| Credit institutions | 430/8 | €118,401 | €85,105 | -€33,296 | -28.1% |
| Trade debts | 44 | €148,131 | €150,163 | +€2,032 | +1.4% |
| Suppliers | 440/4 | €148,131 | €150,163 | +€2,032 | +1.4% |
| Taxes, remuneration and social security | 45 | €257,125 | €255,188 | -€1,937 | -0.8% |
| Taxes | 450/3 | €33,995 | €41,425 | +€7,430 | +21.9% |
| Remuneration and social security | 454/9 | €223,130 | €213,763 | -€9,368 | -4.2% |
| Other amounts payable | 47/48 | €124,715 | €121,970 | -€2,745 | -2.2% |
| Accrued charges and deferred income | 492/3 | €41,045 | €40,124 | -€921 | -2.2% |
| Non-recurring operating income | 76A | €262 | €275 | +€13 | +5.0% |
| Remuneration, social security and pensions | 62 | €1,362,595 | €1,370,208 | +€7,613 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,939 | €139,128 | +€36,189 | +35.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,069 | €0 | -€3,069 | -100% |
| Other operating charges | 640/8 | €29,239 | €16,188 | -€13,051 | -44.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,651,462 | €1,672,294 | +€20,833 | +1.3% |
| Operating profit (loss) | 9901 | €153,620 | €146,770 | -€6,850 | -4.5% |
| Financial income | 75/76B | €6,536 | €5,180 | -€1,356 | -20.7% |
| Recurring financial income | 75 | €6,536 | €5,180 | -€1,356 | -20.7% |
| Financial charges | 65/66B | €7,076 | €6,075 | -€1,001 | -14.1% |
| Recurring financial charges | 65 | €7,076 | €6,075 | -€1,001 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €153,080 | €145,875 | -€7,205 | -4.7% |
| Transfer from deferred taxes | 780 | €531 | €531 | = | 0.0% |
| Income taxes | 67/77 | €43,786 | €41,903 | -€1,883 | -4.3% |
| Profit (loss) for the period | 9904 | €109,825 | €104,503 | -€5,322 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €109,825 | €104,503 | -€5,322 | -4.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.