CAP VERT: what changed
CAP VERT
Largest movements
- Financial fixed assets -€193,607
down €193,607 (-12.4%), from €1.6m to €1.4m
- Tangible fixed assets -€162,845
no longer reported in 2025 (was €162,845)
- Cash +€144,073
up €144,073 (+30,983%), from €465 to €144,538
mainly Investment in fixed assets (net) (+€356,452) and Receivables within one year (+€93,881)
- Receivables within one year -€93,881
down €93,881 (-96.2%), from €97,567 to €3,686
of which Trade receivables: -€95,868
- Other debts -€185,938
down €185,938 (-33.3%), from €558,693 to €372,755
- Debts after one year -€177,725
no longer reported in 2025 (was €177,725)
- Reserves +€93,000
up €93,000 (+10.3%), from €904,500 to €997,500
- Current portion of long-term debt -€25,784
down €25,784 (-22.6%), from €114,156 to €88,372
- Financial charges +€192,382
up €192,382 (+2,576%), from €7,467 to €199,849
of which Non-recurring financial charges: +€193,607
- Turnover +€60,000
new in 2025: €60,000
- Services and other goods +€51,993
new in 2025: €51,993
- Financial income +€49,990
up €49,990 (+33.3%), from €149,970 to €199,960
- Gross operating margin -€7,034
no longer reported in 2025 (was €7,034)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,818,698 | €1,512,473 | -€306,225 | -16.8% |
| Fixed assets | 21/28 | €1,720,666 | €1,364,214 | -€356,452 | -20.7% |
| Tangible fixed assets | 22/27 | €162,845 | - | -€162,845 | |
| Land and buildings | 22 | €162,845 | - | -€162,845 | |
| Financial fixed assets | 28 | €1,557,821 | €1,364,214 | -€193,607 | -12.4% |
| Affiliated companies | 280/1 | - | €1,364,214 | +€1.4m | |
| Participating interests | 280 | - | €1,364,214 | +€1.4m | |
| Current assets | 29/58 | €98,032 | €148,259 | +€50,227 | +51.2% |
| Amounts receivable within one year | 40/41 | €97,567 | €3,686 | -€93,881 | -96.2% |
| Trade receivables | 40 | €95,868 | - | -€95,868 | |
| Other amounts receivable | 41 | €1,699 | €3,686 | +€1,987 | +117% |
| Cash at bank and in hand | 54/58 | €465 | €144,538 | +€144,073 | +30,983% |
| Deferred charges and accrued income | 490/1 | - | €35 | +€35 | |
| Total equity and liabilities | 10/49 | €1,818,698 | €1,512,473 | -€306,225 | -16.8% |
| Equity | 10/15 | €952,168 | €1,044,749 | +€92,581 | +9.7% |
| Contributions | 10/11 | €47,000 | €47,000 | = | 0.0% |
| Reserves | 13 | €904,500 | €997,500 | +€93,000 | +10.3% |
| Distributable reserves | 133 | €904,500 | €997,500 | +€93,000 | +10.3% |
| Profit (loss) carried forward | 14 | €668 | €249 | -€419 | -62.7% |
| Amounts payable | 17/49 | €866,530 | €467,724 | -€398,806 | -46.0% |
| Amounts payable after more than one year | 17 | €177,725 | - | -€177,725 | |
| Financial debts | 170/4 | €177,725 | - | -€177,725 | |
| Amounts payable within one year | 42/48 | €688,746 | €467,724 | -€221,022 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €114,156 | €88,372 | -€25,784 | -22.6% |
| Trade debts | 44 | €8,336 | €1,687 | -€6,649 | -79.8% |
| Suppliers | 440/4 | €8,336 | €1,687 | -€6,649 | -79.8% |
| Taxes, remuneration and social security | 45 | €7,561 | €4,910 | -€2,651 | -35.1% |
| Taxes | 450/3 | €4,688 | €3,010 | -€1,678 | -35.8% |
| Remuneration and social security | 454/9 | €2,873 | €1,900 | -€973 | -33.9% |
| Other amounts payable | 47/48 | €558,693 | €372,755 | -€185,938 | -33.3% |
| Accrued charges and deferred income | 492/3 | €59 | - | -€59 | |
| Operating income | 70/76A | - | €147,155 | +€147,155 | |
| Turnover | 70 | - | €60,000 | +€60,000 | |
| Non-recurring operating income | 76A | - | €87,155 | +€87,155 | |
| Operating charges | 60/66A | - | €54,685 | +€54,685 | |
| Services and other goods | 61 | - | €51,993 | +€51,993 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,321 | - | -€5,321 | |
| Other operating charges | 640/8 | €2,225 | €2,335 | +€110 | +4.9% |
| Non-recurring operating charges | 66A | - | €357 | +€357 | |
| Gross operating margin | 9900 | €7,034 | - | -€7,034 | |
| Operating profit (loss) | 9901 | -€512 | €92,470 | +€92,982 | |
| Financial income | 75/76B | €149,970 | €199,960 | +€49,990 | +33.3% |
| Recurring financial income | 75 | €149,970 | €199,960 | +€49,990 | +33.3% |
| Income from financial fixed assets | 750 | - | €199,960 | +€199,960 | |
| Financial charges | 65/66B | €7,467 | €199,849 | +€192,382 | +2,576% |
| Recurring financial charges | 65 | €7,467 | €6,242 | -€1,225 | -16.4% |
| Debt charges | 650 | - | €6,242 | +€6,242 | |
| Non-recurring financial charges | 66B | - | €193,607 | +€193,607 | |
| Profit (loss) for the period before taxes | 9903 | €141,991 | €92,581 | -€49,410 | -34.8% |
| Profit (loss) for the period | 9904 | €141,991 | €92,581 | -€49,410 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €141,991 | €92,581 | -€49,410 | -34.8% |
Next steps
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 2 November 2026 via checked.be.