CAPTAIN NINE: 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.
CAPTAIN NINE
Largest movements
- Cash +€23,460
up €23,460 (+241.1%), from €9,732 to €33,192
mainly Receivables within one year (+€6,632) and Current investments (+€6,509)
- Receivables within one year -€6,632
down €6,632 (-18.4%), from €35,999 to €29,367
of which Trade receivables: -€3,959
- Current investments -€6,509
down €6,509 (-86.7%), from €7,509 to €1,000
- Tax, wage and social debts +€5,729
up €5,729 (+343.5%), from €1,668 to €7,397
- Reserves +€5,125
up €5,125 (+10.4%), from €49,289 to €54,414
- Other debts -€1,707
down €1,707 (-45.0%), from €3,796 to €2,090
- Accrued charges and deferred income +€1,632
new in 2025: €1,632
- Gross operating margin +€7,190
up €7,190 (+134.6%), from €5,342 to €12,532
- Taxes +€1,885
up €1,885 (+141.0%), from €1,337 to €3,222
- Depreciation -€1,212
down €1,212 (-32.1%), from €3,781 to €2,569
- Financial income +€705
up €705 (+5432.2%), from €13 to €718
- Other operating charges +€253
up €253 (+18.3%), from €1,383 to €1,636
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 | €60,317 | €71,082 | +€10,765 | +17.8% |
| Fixed assets | 21/28 | €3,227 | €3,787 | +€560 | +17.3% |
| Tangible fixed assets | 22/27 | €3,227 | €3,787 | +€560 | +17.3% |
| Furniture and vehicles | 24 | €3,227 | €3,787 | +€560 | +17.3% |
| Current assets | 29/58 | €57,089 | €67,295 | +€10,206 | +17.9% |
| Amounts receivable within one year | 40/41 | €35,999 | €29,367 | -€6,632 | -18.4% |
| Trade receivables | 40 | €29,913 | €25,954 | -€3,959 | -13.2% |
| Other amounts receivable | 41 | €6,086 | €3,413 | -€2,673 | -43.9% |
| Current investments | 50/53 | €7,509 | €1,000 | -€6,509 | -86.7% |
| Cash at bank and in hand | 54/58 | €9,732 | €33,192 | +€23,460 | +241.1% |
| Deferred charges and accrued income | 490/1 | €3,850 | €3,736 | -€113 | -2.9% |
| Total equity and liabilities | 10/49 | €60,317 | €71,082 | +€10,765 | +17.8% |
| Equity | 10/15 | €49,489 | €54,614 | +€5,125 | +10.4% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €49,289 | €54,414 | +€5,125 | +10.4% |
| Distributable reserves | 133 | €49,289 | €54,414 | +€5,125 | +10.4% |
| Amounts payable | 17/49 | €10,828 | €16,468 | +€5,640 | +52.1% |
| Amounts payable within one year | 42/48 | €10,828 | €14,836 | +€4,008 | +37.0% |
| Financial debts | 43 | €746 | €784 | +€38 | +5.0% |
| Credit institutions | 430/8 | €746 | €784 | +€38 | +5.0% |
| Trade debts | 44 | €4,617 | €4,566 | -€52 | -1.1% |
| Suppliers | 440/4 | €4,617 | €4,566 | -€52 | -1.1% |
| Taxes, remuneration and social security | 45 | €1,668 | €7,397 | +€5,729 | +343.5% |
| Taxes | 450/3 | €1,668 | €7,397 | +€5,729 | +343.5% |
| Other amounts payable | 47/48 | €3,796 | €2,090 | -€1,707 | -45.0% |
| Accrued charges and deferred income | 492/3 | - | €1,632 | +€1,632 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,781 | €2,569 | -€1,212 | -32.1% |
| Other operating charges | 640/8 | €1,383 | €1,636 | +€253 | +18.3% |
| Gross operating margin | 9900 | €5,342 | €12,532 | +€7,190 | +134.6% |
| Operating profit (loss) | 9901 | €178 | €8,326 | +€8,149 | +4583.3% |
| Financial income | 75/76B | €13 | €718 | +€705 | +5432.2% |
| Recurring financial income | 75 | €13 | €718 | +€705 | +5432.2% |
| Financial charges | 65/66B | €851 | €697 | -€154 | -18.1% |
| Recurring financial charges | 65 | €851 | €697 | -€154 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | -€660 | €8,347 | +€9,007 | |
| Income taxes | 67/77 | €1,337 | €3,222 | +€1,885 | +141.0% |
| Profit (loss) for the period | 9904 | -€1,997 | €5,125 | +€7,122 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,997 | €5,125 | +€7,122 |
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 10 October 2026 via checked.be.