Capitan: what changed
Two fiscal 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.
Capitan
Largest movements
- Cash +€49,848
up €49,848 (+33.2%), from €150,097 to €199,946
mainly Net result for the year (+€61,130) and Other debts (+€25,070)
- Receivables within one year -€15,204
down €15,204 (-99.8%), from €15,229 to €24
of which Trade receivables: -€14,229
- Other debts +€25,070
up €25,070 (+93.9%), from €26,713 to €51,782
- Profit (loss) carried forward +€11,130
up €11,130 (+7.9%), from €140,150 to €151,279
- Gross operating margin +€20,285
up €20,285 (+31.8%), from €63,806 to €84,090
- Taxes +€3,105
up €3,105 (+22.1%), from €14,024 to €17,128
- Depreciation +€2,190
up €2,190 (+97.3%), from €2,251 to €4,441
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.
Cash bridge derived
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 | €177,851 | €214,567 | +€36,716 | +20.6% |
| Fixed assets | 21/28 | €9,901 | €11,868 | +€1,967 | +19.9% |
| Tangible fixed assets | 22/27 | €8,401 | €10,368 | +€1,967 | +23.4% |
| Plant, machinery and equipment | 23 | €2,693 | €1,179 | -€1,514 | -56.2% |
| Furniture and vehicles | 24 | €5,709 | €9,189 | +€3,480 | +61.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €167,949 | €202,698 | +€34,749 | +20.7% |
| Amounts receivable within one year | 40/41 | €15,229 | €24 | -€15,204 | -99.8% |
| Trade receivables | 40 | €14,229 | €0 | -€14,229 | -100.0% |
| Other amounts receivable | 41 | €999 | €24 | -€975 | -97.6% |
| Cash at bank and in hand | 54/58 | €150,097 | €199,946 | +€49,848 | +33.2% |
| Deferred charges and accrued income | 490/1 | €2,624 | €2,728 | +€105 | +4.0% |
| Total equity and liabilities | 10/49 | €177,851 | €214,567 | +€36,716 | +20.6% |
| Equity | 10/15 | €141,150 | €152,279 | +€11,130 | +7.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,150 | €151,279 | +€11,130 | +7.9% |
| Amounts payable | 17/49 | €36,701 | €62,288 | +€25,586 | +69.7% |
| Amounts payable within one year | 42/48 | €36,701 | €62,288 | +€25,586 | +69.7% |
| Trade debts | 44 | €1,847 | €1,000 | -€847 | -45.9% |
| Suppliers | 440/4 | €1,847 | €1,000 | -€847 | -45.9% |
| Taxes, remuneration and social security | 45 | €8,142 | €9,505 | +€1,363 | +16.7% |
| Taxes | 450/3 | €8,142 | €9,505 | +€1,363 | +16.7% |
| Other amounts payable | 47/48 | €26,713 | €51,782 | +€25,070 | +93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,251 | €4,441 | +€2,190 | +97.3% |
| Other operating charges | 640/8 | €1,360 | €1,304 | -€56 | -4.1% |
| Gross operating margin | 9900 | €63,806 | €84,090 | +€20,285 | +31.8% |
| Operating profit (loss) | 9901 | €60,195 | €78,346 | +€18,151 | +30.2% |
| Financial charges | 65/66B | €236 | €88 | -€148 | -62.8% |
| Recurring financial charges | 65 | €236 | €88 | -€148 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €59,959 | €78,258 | +€18,299 | +30.5% |
| Income taxes | 67/77 | €14,024 | €17,128 | +€3,105 | +22.1% |
| Profit (loss) for the period | 9904 | €45,936 | €61,130 | +€15,194 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,936 | €61,130 | +€15,194 | +33.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.