Capital B EURONEXT:ALCPB
Capital B : Rapport Financier Annuel 2025 ENGLISH
Source: MarketScreener
Detailed table of contents
Certification of the CEO 3
2025 Annual Report 4
2025 Annual Report and Summary of the Group's Consolidated Financial Statements, as approved by the Board of Directors on April 30, 2026 4
Significant events of the fiscal year 2025 7
Internal control and risk factors 26
Corporate Governance Report 45
Consolidated financial statements 48
Notes to the consolidated financial statements as of December 31, 2025 51
Note 1: Presentation of the business activity 51
Note 2: Significant events of the fiscal year - Financial communication elements 52
Note 3: Principles and methods of consolidated financial statements 59
Note 4: Scope of the consolidated financial statements 69
Note 5: Information on the balance sheet 70
Note 6: Information on the results 82
Note 7: Other information 85
Note 8: Events subsequent to the reporting date of the consolidated financial statements 87
Note 9: Regulated agreements 91
2025 Annual Corporate Financial Statements 92
BALANCE SHEET AS OF DECEMBER 31, 2025 (ASSETS) 92
BALANCE SHEET AS OF DECEMBER 31, 2025 (LIABILITIES) 93
PROFIT AND LOSS ACCOUNT AS OF DECEMBER 31, 2025 94
Appendix to the financial statements as of December 31, 2025 95
NOTE 1: Presentation of the business activity 95
NOTE 2: Significant events during the fiscal year 95
NOTE 3: Accounting Principles, Rules and Methods 102
NOTE 4: Information on the balance sheet 105
NOTE 5: Information regarding the Income Statement 115
NOTE 6: Other information 118
NOTE 7: Events after the year-end 119
Certification of the CEO
To the best of my knowledge, I certify that the financial statements for the fiscal year ended December 31, 2025, have been prepared in accordance with the applicable accounting standards and give a true and fair view of the assets, liabilities, financial position, and results of operations of the Company and of all the companies included in the consolidated financial statements, and that the accompanying management report provides a true and fair overview of the development of the business, the results of operations, and the financial position of the Company and of all the companies included in the consolidated financial statements, as well as a description of the principal risks and uncertainties they face.
Done in Puteaux, on April 30, 2026.
Jean Philippe CASADEPAX-SOULET
2025 Annual Report
2025 Annual Report and Summary of the Group's Consolidated Financial Statements, as approved by the Board of Directors on April 30, 2026
BALANCE SHEET ASSETS in thousands of EUR | Note | 12/31/2025 | 12/31/2024 | Change | % |
Fixed Assets | 5.1 5.2 5.3 5.4 5.5 5.6 5.8 5.8 | 17,180 | 20,891 20,374 15,956 167 351 13,167 3,950 4,870 3,618 729 34,058 | -3,711 -3,712 -4,300 -90 91 266,806 -116 52,913 211,260 2,749 263,095 | -17.8% -18.2% -26.9% -54.0% 26.1% 2026.3% -2.9% 1086.5% 5839.7% 376.9% 772.5% |
Intangible assets | 16,662 | ||||
Of which positive goodwill | 11,656 | ||||
Tangible fixed assets | 77 | ||||
Long-term financial investments | 442 | ||||
Investments accounted for using the equity method | |||||
Current Assets | 279,973 | ||||
Stocks and work in progress | |||||
Trade receivables and related accounts | 3,834 | ||||
Other receivables and accruals (4) | 57,783 | ||||
Forward financial instruments and tokens held | 214,878 | ||||
Cash and cash equivalents | 3,478 | ||||
TOTAL ASSETS | 297153 | ||||
BALANCE SHEET LIABILITIES in thousands of EUR | Note | 12/31/2025 | 12/31/2024 | Change | % |
Shareholders' equity (Group share) Capital (1) Share Premiums (1) Reserves and consolidated result (2) Other (3) Minority interests | 5.9 | 109,351 | 12,182 3,735 35,451 -26,950 -54 | 97,168 5,343 153,915 -62,144 54 | 797.6% 143.0% 434.2% 230.6% -100.0% |
9,078 | |||||
189,366 | |||||
-89,094 | |||||
5.10 | |||||
Provisions | 5.12 | 56,444 | 2,864 | 53,581 | 1871.1% |
Debts Loans and financial payables Suppliers and related accounts Other payables and accruals (5) Of which negative goodwill TOTAL LIABILITIES | 5.13 5.14 5.15 5.2 | 131,359 | 19,012 3,473 3,730 11,809 | 112,346 94,883 -858 18,321 | 590.9% 2731.8% -23.0% 155.1% |
98,357 | |||||
2,872 | |||||
30,130 | |||||
297,153 | 34,058 | 263,095 | 772.5% |
Of the consolidating parent entity
Including net income for the fiscal year
Detailed in the statement of changes in consolidated equity (Group share)
Of which deferred tax assets
Of which deferred tax liabilities
INCOME STATEMENT in thousands of EUR | Note | 12/31/2025 | 12/31/2024 | Change | % |
Revenue | 6.1 | 11,206 | 13,864 | -2,658 | -19.2% |
Other operating income | 6.2 6.3 6.4 6.3 6.5 | 1,987 | 2,300 | -314 | -13.6% |
Purchases consumed | -2,352 | -3,140 | 788 | 25.1% | |
Employee expenses | -10,313 | -11,592 | 1,279 | 11.0% | |
Other operating expenses | -4,950 | -2,381 | -2,569 | -107.9% | |
Taxes and duties | -299 | -344 | 45 | 13.1% | |
Depreciation, amortization, impairment, and provisions | -1,482 | -1,731 | 249 | 14.4% | |
Operating income before amortization and impairment of goodwill | -6,204 | -3,024 | -3,180 | -105.2% | |
Amortization and impairment of positive goodwill | 6.6 | -4,300 | -4,300 | ||
Reversals of negative goodwill | 6.6 | ||||
Operating income before amortization and reversals of goodwill | -10,504 | -3,024 | -7,480 | -247.4% | |
Financial income and expenses | 6.7 | -54,186 | 245 | -54,430 | -22254.8% |
Exceptional income and expenses | 6.8 | 498 | 2,027 | -1,529 | -75.4% |
Income taxes | 6.9 | 2,016 | 2,301 | -284 | -12.4% |
Net income of consolidated entities | -62,175 | 1,549 | -63,724 | -4114.8% | |
Profit/loss from divested companies Net income related to equity-accounted entities | -188 | 188 | 100.0% | ||
Net income of the consolidated group | -62,175 | 1,361 | -63,536 | -4668.2% | |
Of which minority interests | 5 | -5 | -100.0% | ||
Of which Net income (Group share) | -62,175 | 1,356 | -63,542 | -4686.5% |