Capptain: 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.
Capptain
Largest movements
- Tangible fixed assets +€233,574
up €233,574 (+127%), from €183,580 to €417,154
of which Land and buildings: +€187,730
- Cash -€16,681
down €16,681 (-70.7%), from €23,590 to €6,909
mainly Investment in fixed assets (net) (-€282,173) and Net result for the year (-€26,242)
- Receivables within one year +€14,740
up €14,740 (+80.5%), from €18,313 to €33,053
of which Trade receivables: +€15,748
- Intangible fixed assets +€13,982
new in 2025: €13,982
- Financial fixed assets -€9,301
down €9,301 (-100%), from €9,301 to €0
- Debts after one year +€203,269
up €203,269 (+153%), from €133,211 to €336,480
of which Financial debts: +€176,989
- Trade debts +€62,495
up €62,495 (+637%), from €9,805 to €72,300
- Profit (loss) carried forward -€26,242
down €26,242, from €3,131 to -€23,111
- Tax, wage and social debts -€5,049
down €5,049 (-38.2%), from €13,227 to €8,178
- Gross operating margin -€14,213
down €14,213 (-32.3%), from €44,045 to €29,832
- Depreciation +€12,444
up €12,444 (+39.2%), from €31,751 to €44,194
- Financial charges +€6,736
up €6,736 (+5,185%), from €130 to €6,866
- Taxes -€4,106
down €4,106 (-88.8%), from €4,623 to €517
- Write-downs -€2,775
no longer reported in 2025 (was €2,775)
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 | €241,322 | €476,943 | +€235,621 | +97.6% |
| Formation expenses | 20 | €1,059 | €783 | -€276 | -26.0% |
| Fixed assets | 21/28 | €192,881 | €431,136 | +€238,255 | +124% |
| Intangible fixed assets | 21 | - | €13,982 | +€13,982 | |
| Tangible fixed assets | 22/27 | €183,580 | €417,154 | +€233,574 | +127% |
| Land and buildings | 22 | €140,683 | €328,413 | +€187,730 | +133% |
| Plant, machinery and equipment | 23 | €3,659 | €5,755 | +€2,096 | +57.3% |
| Furniture and vehicles | 24 | €16,260 | €10,748 | -€5,511 | -33.9% |
| Other tangible fixed assets | 26 | €22,978 | €72,237 | +€49,259 | +214% |
| Financial fixed assets | 28 | €9,301 | €0 | -€9,301 | -100% |
| Current assets | 29/58 | €47,382 | €45,024 | -€2,358 | -5.0% |
| Amounts receivable within one year | 40/41 | €18,313 | €33,053 | +€14,740 | +80.5% |
| Trade receivables | 40 | €17,063 | €32,811 | +€15,748 | +92.3% |
| Other amounts receivable | 41 | €1,250 | €241 | -€1,009 | -80.7% |
| Cash at bank and in hand | 54/58 | €23,590 | €6,909 | -€16,681 | -70.7% |
| Deferred charges and accrued income | 490/1 | €5,479 | €5,063 | -€416 | -7.6% |
| Total equity and liabilities | 10/49 | €241,322 | €476,943 | +€235,621 | +97.6% |
| Equity | 10/15 | €55,094 | €28,852 | -€26,242 | -47.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,363 | €33,363 | = | 0.0% |
| Distributable reserves | 133 | €33,363 | €33,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,131 | -€23,111 | -€26,242 | |
| Amounts payable | 17/49 | €186,228 | €448,091 | +€261,863 | +141% |
| Amounts payable after more than one year | 17 | €133,211 | €336,480 | +€203,269 | +153% |
| Financial debts | 170/4 | - | €176,989 | +€176,989 | |
| Other amounts payable | 178/9 | €133,211 | €159,491 | +€26,280 | +19.7% |
| Amounts payable within one year | 42/48 | €45,447 | €105,264 | +€59,816 | +132% |
| Financial debts | 43 | €17,601 | €21,167 | +€3,566 | +20.3% |
| Credit institutions | 430/8 | €17,601 | €21,167 | +€3,566 | +20.3% |
| Trade debts | 44 | €9,805 | €72,300 | +€62,495 | +637% |
| Suppliers | 440/4 | €9,805 | €72,300 | +€62,495 | +637% |
| Taxes, remuneration and social security | 45 | €13,227 | €8,178 | -€5,049 | -38.2% |
| Taxes | 450/3 | €13,227 | €8,178 | -€5,049 | -38.2% |
| Other amounts payable | 47/48 | €4,814 | €3,619 | -€1,195 | -24.8% |
| Accrued charges and deferred income | 492/3 | €7,570 | €6,347 | -€1,223 | -16.2% |
| Non-recurring operating income | 76A | €18,406 | - | -€18,406 | |
| Remuneration, social security and pensions | 62 | €39 | - | -€39 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,751 | €44,194 | +€12,444 | +39.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,775 | - | -€2,775 | |
| Other operating charges | 640/8 | €3,168 | €4,502 | +€1,334 | +42.1% |
| Gross operating margin | 9900 | €44,045 | €29,832 | -€14,213 | -32.3% |
| Operating profit (loss) | 9901 | €6,313 | -€18,864 | -€25,177 | |
| Financial income | 75/76B | €8 | €5 | -€4 | -43.1% |
| Recurring financial income | 75 | €8 | €5 | -€4 | -43.1% |
| Financial charges | 65/66B | €130 | €6,866 | +€6,736 | +5,185% |
| Recurring financial charges | 65 | €130 | €6,866 | +€6,736 | +5,185% |
| Profit (loss) for the period before taxes | 9903 | €6,191 | -€25,725 | -€31,916 | |
| Income taxes | 67/77 | €4,623 | €517 | -€4,106 | -88.8% |
| Profit (loss) for the period | 9904 | €1,569 | -€26,242 | -€27,810 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,569 | -€26,242 | -€27,810 |
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 20 October 2026 via checked.be.