The Company Captain: what changed
The Company Captain
Largest movements
- Receivables within one year +€37,669
up €37,669 (+331%), from €11,370 to €49,040
of which Trade receivables: +€37,941
- Tangible fixed assets +€24,507
new in 2025: €24,507
- Cash -€15,686
down €15,686 (-80.9%), from €19,401 to €3,714
mainly Receivables within one year (-€37,669) and Investment in fixed assets (net) (-€25,250)
- Deferred charges and accrued income +€1,656
new in 2025: €1,656
- Other debts +€24,747
new in 2025: €24,747
- Reserves +€22,776
up €22,776 (+197%), from €11,557 to €34,333
- Tax, wage and social debts +€7,079
up €7,079 (+125%), from €5,661 to €12,740
- Trade debts -€6,456
down €6,456 (-75.5%), from €8,553 to €2,097
- Gross operating margin +€16,618
up €16,618 (+107%), from €15,568 to €32,186
- Taxes +€3,211
up €3,211 (+109%), from €2,935 to €6,146
- Other operating charges +€1,368
up €1,368 (+128%), from €1,072 to €2,440
- Depreciation +€744
new in 2025: €744
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,771 | €78,917 | +€48,146 | +156% |
| Fixed assets | 21/28 | - | €24,507 | +€24,507 | |
| Tangible fixed assets | 22/27 | - | €24,507 | +€24,507 | |
| Furniture and vehicles | 24 | - | €24,507 | +€24,507 | |
| Current assets | 29/58 | €30,771 | €54,410 | +€23,639 | +76.8% |
| Amounts receivable within one year | 40/41 | €11,370 | €49,040 | +€37,669 | +331% |
| Trade receivables | 40 | €11,099 | €49,040 | +€37,941 | +342% |
| Other amounts receivable | 41 | €272 | €0 | -€272 | -100% |
| Cash at bank and in hand | 54/58 | €19,401 | €3,714 | -€15,686 | -80.9% |
| Deferred charges and accrued income | 490/1 | - | €1,656 | +€1,656 | |
| Total equity and liabilities | 10/49 | €30,771 | €78,917 | +€48,146 | +156% |
| Equity | 10/15 | €16,557 | €39,333 | +€22,776 | +138% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €11,557 | €34,333 | +€22,776 | +197% |
| Distributable reserves | 133 | €11,557 | €34,333 | +€22,776 | +197% |
| Amounts payable | 17/49 | €14,214 | €39,584 | +€25,370 | +178% |
| Amounts payable within one year | 42/48 | €14,214 | €39,584 | +€25,370 | +178% |
| Trade debts | 44 | €8,553 | €2,097 | -€6,456 | -75.5% |
| Suppliers | 440/4 | €8,553 | €2,097 | -€6,456 | -75.5% |
| Taxes, remuneration and social security | 45 | €5,661 | €12,740 | +€7,079 | +125% |
| Taxes | 450/3 | €5,661 | €12,740 | +€7,079 | +125% |
| Other amounts payable | 47/48 | - | €24,747 | +€24,747 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €744 | +€744 | |
| Other operating charges | 640/8 | €1,072 | €2,440 | +€1,368 | +128% |
| Gross operating margin | 9900 | €15,568 | €32,186 | +€16,618 | +107% |
| Operating profit (loss) | 9901 | €14,496 | €29,002 | +€14,506 | +100% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €8 | €81 | +€73 | +899% |
| Recurring financial charges | 65 | €8 | €81 | +€73 | +899% |
| Profit (loss) for the period before taxes | 9903 | €14,492 | €28,922 | +€14,429 | +99.6% |
| Income taxes | 67/77 | €2,935 | €6,146 | +€3,211 | +109% |
| Profit (loss) for the period | 9904 | €11,557 | €22,776 | +€11,219 | +97.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,557 | €22,776 | +€11,219 | +97.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.