CAPIENZA: 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.
CAPIENZA
Largest movements
- Receivables after one year -€43,461
down €43,461 (-39.3%), from €110,605 to €67,144
- Cash +€11,446
up €11,446 (+37.8%), from €30,253 to €41,699
mainly Net result for the year (+€47,557) and Receivables after one year (+€43,461)
- Current investments -€11,368
down €11,368 (-6.1%), from €185,952 to €174,584
- Tangible fixed assets -€3,938
down €3,938 (-29.3%), from €13,452 to €9,514
of which Furniture and vehicles: -€4,657
- Other debts -€82,775
down €82,775 (-83.2%), from €99,524 to €16,750
- Reserves +€30,807
up €30,807 (+12.7%), from €242,420 to €273,227
- Financial income -€15,497
down €15,497 (-28.0%), from €55,403 to €39,906
- Gross operating margin +€4,744
up €4,744 (+21.1%), from €22,494 to €27,238
- Depreciation +€3,218
up €3,218 (+69.9%), from €4,606 to €7,823
- Taxes -€1,175
down €1,175 (-9.8%), from €11,944 to €10,769
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 | €389,196 | €340,297 | -€48,900 | -12.6% |
| Fixed assets | 21/28 | €19,702 | €15,764 | -€3,938 | -20.0% |
| Tangible fixed assets | 22/27 | €13,452 | €9,514 | -€3,938 | -29.3% |
| Plant, machinery and equipment | 23 | €0 | €3,353 | +€3,353 | |
| Furniture and vehicles | 24 | €7,648 | €2,990 | -€4,657 | -60.9% |
| Other tangible fixed assets | 26 | €5,804 | €3,170 | -€2,634 | -45.4% |
| Financial fixed assets | 28 | €6,250 | €6,250 | = | 0.0% |
| Current assets | 29/58 | €369,494 | €324,533 | -€44,961 | -12.2% |
| Amounts receivable after more than one year | 29 | €110,605 | €67,144 | -€43,461 | -39.3% |
| Other amounts receivable | 291 | €110,605 | €67,144 | -€43,461 | -39.3% |
| Amounts receivable within one year | 40/41 | €33,045 | €33,994 | +€948 | +2.9% |
| Trade receivables | 40 | €32,931 | €33,827 | +€896 | +2.7% |
| Other amounts receivable | 41 | €114 | €166 | +€52 | +45.6% |
| Current investments | 50/53 | €185,952 | €174,584 | -€11,368 | -6.1% |
| Cash at bank and in hand | 54/58 | €30,253 | €41,699 | +€11,446 | +37.8% |
| Deferred charges and accrued income | 490/1 | €9,639 | €7,112 | -€2,527 | -26.2% |
| Total equity and liabilities | 10/49 | €389,196 | €340,297 | -€48,900 | -12.6% |
| Equity | 10/15 | €261,020 | €291,827 | +€30,807 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €242,420 | €273,227 | +€30,807 | +12.7% |
| Distributable reserves | 133 | €242,420 | €273,227 | +€30,807 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €10,541 | €10,541 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,541 | €10,541 | = | 0.0% |
| Pensions and similar obligations | 160 | €10,541 | €10,541 | = | 0.0% |
| Amounts payable | 17/49 | €117,635 | €37,929 | -€79,707 | -67.8% |
| Amounts payable within one year | 42/48 | €117,635 | €37,929 | -€79,707 | -67.8% |
| Trade debts | 44 | €3,977 | €5,289 | +€1,312 | +33.0% |
| Suppliers | 440/4 | €3,977 | €5,289 | +€1,312 | +33.0% |
| Advances received on contracts in progress | 46 | €226 | €226 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €13,907 | €15,663 | +€1,756 | +12.6% |
| Taxes | 450/3 | €13,907 | €15,663 | +€1,756 | +12.6% |
| Other amounts payable | 47/48 | €99,524 | €16,750 | -€82,775 | -83.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,606 | €7,823 | +€3,218 | +69.9% |
| Other operating charges | 640/8 | €871 | €896 | +€25 | +2.8% |
| Gross operating margin | 9900 | €22,494 | €27,238 | +€4,744 | +21.1% |
| Operating profit (loss) | 9901 | €17,017 | €18,519 | +€1,502 | +8.8% |
| Financial income | 75/76B | €55,403 | €39,906 | -€15,497 | -28.0% |
| Recurring financial income | 75 | €55,403 | €39,906 | -€15,497 | -28.0% |
| Financial charges | 65/66B | €67 | €99 | +€32 | +47.6% |
| Recurring financial charges | 65 | €67 | €99 | +€32 | +47.6% |
| Profit (loss) for the period before taxes | 9903 | €72,353 | €58,326 | -€14,027 | -19.4% |
| Income taxes | 67/77 | €11,944 | €10,769 | -€1,175 | -9.8% |
| Profit (loss) for the period | 9904 | €60,409 | €47,557 | -€12,852 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,409 | €47,557 | -€12,852 | -21.3% |
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 28 October 2026 via checked.be.