CAP NORD NAVIGATION: 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.
CAP NORD NAVIGATION
Largest movements
- Cash -€19,017
down €19,017 (-83.2%), from €22,865 to €3,848
mainly Accrued charges and deferred income (-€59,809) and Receivables within one year (-€16,548)
- Receivables within one year +€16,548
up €16,548 (+18.9%), from €87,771 to €104,319
of which Other amounts receivable: +€16,058
- Tangible fixed assets -€3,370
down €3,370 (-42.0%), from €8,023 to €4,652
- Accrued charges and deferred income -€59,809
down €59,809 (-99.7%), from €60,000 to €191
- Reserves +€26,647
up €26,647 (+36.2%), from €73,599 to €100,246
- Profit (loss) carried forward +€18,932
no longer reported in 2025 (was -€18,932)
- Tax, wage and social debts +€12,092
up €12,092 (+3,698%), from €327 to €12,419
of which Taxes: +€9,942
- Trade debts -€3,452
down €3,452 (-92.7%), from €3,722 to €270
- Gross operating margin +€59,354
up €59,354 (+203%), from €29,225 to €88,580
- Financial charges +€19,849
up €19,849 (+426%), from €4,662 to €24,511
of which Non-recurring financial charges: +€19,719
- Taxes +€13,478
up €13,478 (+4,122%), from €327 to €13,805
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 | €123,187 | €116,788 | -€6,399 | -5.2% |
| Fixed assets | 21/28 | €8,023 | €4,652 | -€3,370 | -42.0% |
| Tangible fixed assets | 22/27 | €8,023 | €4,652 | -€3,370 | -42.0% |
| Plant, machinery and equipment | 23 | €8,023 | €4,652 | -€3,370 | -42.0% |
| Current assets | 29/58 | €115,165 | €112,136 | -€3,029 | -2.6% |
| Amounts receivable within one year | 40/41 | €87,771 | €104,319 | +€16,548 | +18.9% |
| Trade receivables | 40 | €61,025 | €61,515 | +€491 | +0.8% |
| Other amounts receivable | 41 | €26,746 | €42,804 | +€16,058 | +60.0% |
| Cash at bank and in hand | 54/58 | €22,865 | €3,848 | -€19,017 | -83.2% |
| Deferred charges and accrued income | 490/1 | €4,529 | €3,969 | -€560 | -12.4% |
| Total equity and liabilities | 10/49 | €123,187 | €116,788 | -€6,399 | -5.2% |
| Equity | 10/15 | €57,667 | €103,246 | +€45,578 | +79.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €73,599 | €100,246 | +€26,647 | +36.2% |
| Distributable reserves | 133 | €73,599 | €100,246 | +€26,647 | +36.2% |
| Profit (loss) carried forward | 14 | -€18,932 | - | +€18,932 | |
| Amounts payable | 17/49 | €65,520 | €13,542 | -€51,978 | -79.3% |
| Amounts payable within one year | 42/48 | €5,520 | €13,351 | +€7,831 | +142% |
| Financial debts | 43 | €1,443 | €634 | -€809 | -56.0% |
| Credit institutions | 430/8 | €1,443 | €634 | -€809 | -56.0% |
| Trade debts | 44 | €3,722 | €270 | -€3,452 | -92.7% |
| Suppliers | 440/4 | €3,722 | €270 | -€3,452 | -92.7% |
| Taxes, remuneration and social security | 45 | €327 | €12,419 | +€12,092 | +3,698% |
| Taxes | 450/3 | €327 | €10,269 | +€9,942 | +3,040% |
| Remuneration and social security | 454/9 | - | €2,150 | +€2,150 | |
| Other amounts payable | 47/48 | €28 | €28 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €60,000 | €191 | -€59,809 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,790 | €3,370 | -€419 | -11.1% |
| Other operating charges | 640/8 | €1,611 | €1,325 | -€286 | -17.8% |
| Gross operating margin | 9900 | €29,225 | €88,580 | +€59,354 | +203% |
| Operating profit (loss) | 9901 | €23,824 | €83,884 | +€60,060 | +252% |
| Financial income | 75/76B | €7 | €10 | +€3 | +41.4% |
| Recurring financial income | 75 | €7 | €10 | +€3 | +41.4% |
| Financial charges | 65/66B | €4,662 | €24,511 | +€19,849 | +426% |
| Recurring financial charges | 65 | €4,662 | €4,792 | +€130 | +2.8% |
| Non-recurring financial charges | 66B | - | €19,719 | +€19,719 | |
| Profit (loss) for the period before taxes | 9903 | €19,169 | €59,383 | +€40,214 | +210% |
| Income taxes | 67/77 | €327 | €13,805 | +€13,478 | +4,122% |
| Profit (loss) for the period | 9904 | €18,842 | €45,578 | +€26,736 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €18,842 | €45,578 | +€26,736 | +142% |
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 19 October 2026 via checked.be.