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CAPTAIN BLUE

Active
Private limited companyfounded 199926 yrs activeHendrik Baelskaai 38, 8400 Oostende, BelgiumKBO/BCE: BE 0467.061.037
Summary

CAPTAIN BLUE has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57,080 and a net result of €6,819. Equity is shrinking by ~9.2% per year across the filed fiscal years. Its solvency ranks better than 34% of 88 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch ReportCompare
CAPTAIN BLUEActiveChecked score 90/100
Risk analysis ReportCompare

Overview

Activity
Water transport
NACE 50100Wired, wireless and satellite telecommunications NACE 61100NACE 63406
1 site
Size
€260,516total assets 2025
Staff
0.9 FTE
Equity
€57,080
Profit
€6,819
Turnover not published (abridged schema)
Financial health
90 Excellent Checked score 2025
Bankruptcy chance 12 m
0.2%
Structure
Parent
Borealis · 100%
Accounts filed 21 d late0 of 10 deeds read
Why 90- 1 change of registered office in 24 months+ Liquidity: current ratio 1.83, cash €86,348+ Sector Water transport (NACE 50)+ Size: total assets €260,516Show the evidence

Checked score

Score 2025
90 / 100
Excellent
Probability in this band: under 0.55%
Better than 59% of its sector peers (NACE 50, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 47=
equity 21.9% of total assets
Liquidity 74+3
short-term debt 38.5% · cash 33.1%
Profitability 72+3
return on assets 2.6%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (262 companies)
Last 14 months 09-2025: 1.0%highest value 10-2025: 1.0%● 0.0% vs 09-2025highest value 11-2025: 1.0%● 0.0% vs 10-2025highest value 12-2025: 1.0%● 0.0% vs 11-2025highest value 01-2026: 1.0%● 0.0% vs 12-2025highest value 02-2026: 1.0%● 0.0% vs 01-2026highest value 03-2026: 1.0%● 0.0% vs 02-2026highest value 04-2026: 0.2%▼ -79.6% vs 03-2026 05-2026: 0.2%▲ +5.8% vs 04-2026 06-2026: 0.2%▼ -5.5% vs 05-2026 07-2026: 0.2%▲ +17.0% vs 06-2026 08-2026: 0.4%▲ +63.1% vs 07-2026 09-2026: 0.2%▼ -54.5% vs 08-2026lowest value 10-2026: 0.2%● 0.0% vs 09-2026lowest value
  • 1 change of registered office in 24 months raises the probability
  • Liquidity: current ratio 1.83, cash €86,348 lowers the probability
  • Sector Water transport (NACE 50) lowers the probability
  • Size: total assets €260,516 lowers the probability for this profile
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 1.83 against 1.3 in 2024; short-term debt: 38.5% and cash: 33.1% of total assets), but 78.1% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 50, micro). Better than this share of them on solvency 36%, liquidity 72%, profitability 59%, growth against the median 67%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
lowers risk · Liquidity: current ratio 1.83, cash €86,348
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Sector Water transport (NACE 50)
In the bankruptcy model this factor lowers the probability.
KBO
lowers risk · Size: total assets €260,516
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €57,080
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
21 d late
2024
18 d late
2023
89 d early
2022
31 d early
2021
30 d late
2020
1 d early
2019
31 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 41% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 18 August (4 of the last 5 filed years within 49 days of that day).
Companies Code · seven months
Position in the running window
02-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · abbreviated…
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Weakest financial yearnet €857 ▼92.8%

Key points

  • Positive: 8 profitable years in a rowprofit 2025: €6,819 8 years View
  • Controlled by Borealisultimately: AXIS 100% View
  • Active since 1999founded 14-10-1999 26 years View

By topic

Financials

Fiscal year
2025
Total assets
€260,516
Profit
€6,819
Solvency
21.9%
Total assets▲ 12.6%
Net result
20182025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 21-08-2026Annual accounts filed
  2. 18-08-2025Annual accounts filed
  3. 31-12-2024Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Water transportNACE 50100
Founded
14-10-1999
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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