CAM DEVELOPMENT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 04-06-2026 PDF all 8 filings
Equity
€5.5m▲ 251%
2024 · €1.6m
Total assets
€7.2m▲ 120%
2024 · €3.3m
Net result
-€11,101▲ 23.2%
2024 · -€14,462
Working capital
€7.2m▲ 120%
2024 · €3.3m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€10,174
▲ 36.1%
2025
20182025
Net result
-€11,101
▲ 23.2%
2025
middle half of the sector
20182025
Equity
€5.5m
▲ 251%
2025
highest quarter of the sector
20182025
Total assets
€7.2m
▲ 120%
2025
highest quarter of the sector
20182025
Debt
€1.7m
▼ 1.5%
2025
20182025
Working capital
€7.2m
▲ 120%
2025
highest quarter of the sector
20182025
Solvency
76.8%
▲ 28.6pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-0.2%
▲ 0.3pp
2025
middle half of the sector
20182025
Staff (FTE)
0
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.002m--€0.01m▼ 428%€0.4m€1.3m▲ 215%€1.0m▼ 21.9%-€0.01m-€0.02m▼ 61.5%-€0.01m▲ 36.1%
Net result-€0.002m--€0.005m▼ 136%€0.3mabove the sector's middle half€0.6mabove the sector's middle half▲ 118%€0.7mabove the sector's middle half▲ 20.9%-€0.02mwithin the sector's middle half-€0.01mwithin the sector's middle half▲ 6.2%-€0.01mwithin the sector's middle half▲ 23.2%
Equity€0.01m-€0.006m▼ 43.9%€0.3mwithin the sector's middle half▲ 48×€0.9mwithin the sector's middle half▲ 215%€1.6mabove the sector's middle half▲ 81.7%€1.6mabove the sector's middle half▼ 1.0%€1.6mabove the sector's middle half▼ 0.9%€5.5mabove the sector's middle half▲ 251%
Total assets€0.01m-€3.1m▲ 252×€4.1mwithin the sector's middle half▲ 30.8%€2.1mwithin the sector's middle half▼ 48.2%€2.1mwithin the sector's middle half▼ 2.0%€3.8mwithin the sector's middle half▲ 84.5%€3.3mwithin the sector's middle half▼ 14.4%€7.2mabove the sector's middle half▲ 120%
Debt€0.002m-€3.1m▲ 1,673×€3.8m▲ 22.0%€1.2m▼ 67.6%€0.5m▼ 62.3%€2.2m▲ 381%€1.7m▼ 24.0%€1.7m▼ 1.5%
Working capital€0.009m-€3.1m▲ 363×€2.8mabove the sector's middle half▼ 8.0%€0.9mabove the sector's middle half▼ 68.7%€1.6mabove the sector's middle half▲ 79.4%€2.6mabove the sector's middle half▲ 62.9%€3.3mabove the sector's middle half▲ 24.8%€7.2mabove the sector's middle half▲ 120%
Solvency85.0%-0.2%▼ 84.8pp6.9%below the sector's middle half▲ 6.7pp41.8%within the sector's middle half▲ 35.0pp77.6%above the sector's middle half▲ 35.8pp41.7%within the sector's middle half▼ 35.9pp48.2%within the sector's middle half▲ 6.5pp76.8%above the sector's middle half▲ 28.6pp
Current ratio5.61-3.36above the sector's middle half1.74within the sector's middle half▼ 1.624.47above the sector's middle half▲ 2.733.18above the sector's middle half▼ 1.29
Return on assets (ROA)-15.8%--0.1%▲ 15.6pp6.7%above the sector's middle half▲ 6.9pp28.3%above the sector's middle half▲ 21.5pp34.9%above the sector's middle half▲ 6.6pp-0.4%within the sector's middle half▼ 35.3pp-0.4%within the sector's middle half=-0.2%within the sector's middle half▲ 0.3pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €10,174, smaller than the loss of €15,930 in 2024.
Large changes and their cause
- 2025 Equity +251%, Total assets +120% on 2024. Capital increase of €3,950,000 (Official Gazette 04-06-2025).
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €7.2m
Equity
€5.5m ▲ 251%
Debt
€1.7m ▼ 1.5%
Debt's share of the balance-sheet total falls from 51.8% to 23.2%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.30▼
2024 · 1.07
ROE
-0.2%▲
2024 · -0.9%
Debt ≤ 1 year
€249▼
2024 · €1,488
Debt > 1 year
€1.6m▼
2024 · €1.7m
A ratio outside any meaningful range has been withheld (balance sheet total €7.2m, equity €5.5m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €1.2m | - | €1.2m | - | - |
| Mortgages, amount registered | €1.3m | - | €11,000 | €11,000 | €11,000 |
| Mortgage mandates | - | - | €4.5m | €4.5m | €4.5m |
| Carrying value of the mortgaged assets | €1.6m | - | €3.1m | €3.1m | €3.2m |
| Guarantees given for others' debts | - | - | €990,000 | €990,000 | €3.2m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €214 | €428 | €428 | €428 | €428 | €214 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.003m | €0.003m | ▲ 3.1% |
| Gross operating margin9900 | €243 | -€0.009m | €0.4m | €1.3m | €1.0m | -€0.008m | -€0.01m | -€0.007m | ▲ 45.5% |
| Operating profit (loss)9901 | -€0.002m | -€0.01m | €0.4m | €1.3m | €1.0m | -€0.01m | -€0.02m | -€0.01m | ▲ 36.1% |
| Financial income75/76B | - | - | - | €0.01m | €0.01m | €0.005m | €0.002m | €0 | ▼ 100% |
| Recurring financial income75 | - | €0.008m | €0.01m | €0.01m | €0.01m | €0.005m | €0.002m | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.5m | €0.005m | €0.01m | €0.001m | €0.001m | ▲ 28.7% |
| Recurring financial charges65 | - | €0.002m | €0.02m | €0.5m | €0.005m | €0.01m | €0.001m | €0.001m | ▲ 28.7% |
| Profit (loss) for the period before taxes9903 | -€0.002m | -€0.004m | €0.4m | €0.9m | €1.1m | -€0.02m | -€0.01m | -€0.01m | ▲ 23.2% |
| Income taxes67/77 | - | €0.001m | €0.1m | €0.3m | €0.3m | €0 | - | - | - |
| Profit (loss) for the period9904 | -€0.002m | -€0.005m | €0.3m | €0.6m | €0.7m | -€0.02m | -€0.01m | -€0.01m | ▲ 23.2% |
| Profit (loss) for the period to be appropriated9905 | -€0.002m | -€0.005m | €0.3m | €0.6m | €0.7m | -€0.02m | -€0.01m | -€0.01m | ▲ 23.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.01m | €3.1m | €4.1m | €2.1m | €2.1m | €3.8m | €3.3m | €7.2m | ▲ 120% |
| Formation expenses20 | €0.002m | €0.001m | €0.001m | €0.001m | €214 | €0 | - | - | - |
| Current assets29/58 | €0.01m | €3.1m | €4.1m | €2.1m | €2.1m | €3.8m | €3.3m | €7.2m | ▲ 120% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0 | €0.6m | €0 | - | - |
| Other amounts receivable291 | - | - | - | €0.3m | €0 | €0.6m | €0 | - | - |
| Stocks and contracts in progress3 | - | €2.9m | €3.6m | €1.6m | €0 | €3.1m | €3.1m | €7.1m | ▲ 127% |
| Stocks30/36 | - | - | - | €1.6m | €0 | €3.1m | €3.1m | €7.1m | ▲ 127% |
| Amounts receivable within one year40/41 | €0.002m | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.009m | €0.002m | €0.04m | €0.2m | €2.1m | €0.1m | €0.1m | €0.04m | ▼ 63.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0 | €0.005m | €0 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.01m | €3.1m | €4.1m | €2.1m | €2.1m | €3.8m | €3.3m | €7.2m | ▲ 120% |
| Equity10/15 | €0.01m | €0.006m | €0.3m | €0.9m | €1.6m | €1.6m | €1.6m | €5.5m | ▲ 251% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.02m | €0.02m | €0.02m | €0.02m | €4.0m | ▲ 213× |
| Reserves13 | - | - | €0.3m | €0.9m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Distributable reserves133 | - | - | - | €0.9m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Profit (loss) carried forward14 | -€0.002m | -€0.007m | €0 | - | €0.03m | €0.01m | -€0.005m | -€0.02m | ▼ 228% |
| Amounts payable17/49 | €0.002m | €3.1m | €3.8m | €1.2m | €0.5m | €2.2m | €1.7m | €1.7m | ▼ 1.5% |
| Amounts payable after more than one year17 | - | €3.1m | €2.5m | €0 | - | €1.0m | €1.7m | €1.6m | ▼ 1.8% |
| Financial debts170/4 | - | - | - | €0 | - | €1.0m | €1.7m | €1.6m | ▼ 1.8% |
| Amounts payable within one year42/48 | €0.002m | €0.004m | €1.2m | €1.2m | €0.5m | €1.2m | €0.001m | €249 | ▼ 83.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.2m | - | €1.2m | €0 | - | - |
| Financial debts43 | - | - | - | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | - | - | €0 | - | - | - | - |
| Trade debts44 | €0.002m | €0.004m | €0.001m | €314 | €222 | €79 | €0.001m | €249 | ▼ 83.2% |
| Suppliers440/4 | - | - | - | €314 | €222 | €79 | €0.001m | €249 | ▼ 83.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.007m | €100 | €0 | - | - |
| Taxes450/3 | - | - | - | €0.03m | €0.007m | €100 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | €0.5m | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.001m | €0.003m | €0.01m | €0.02m | ▲ 43.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.002m | -€0.005m | €0.3m | €0.6m | €0.7m | -€0.02m | -€0.01m | -€0.01m | ▲ 23.2% |
| + Depreciation and write-downs630 | €214 | €428 | €428 | €428 | €428 | €214 | €0 | - | - |
| Operating cash flow (approximation) | -€0.002m | -€0.004m | €0.3m | €0.6m | €0.7m | -€0.02m | -€0.01m | -€0.01m | ▲ 23.2% |
| Change in cash | - | -€0.007m | €0.04m | €0.1m | €1.9m | -€1.9m | -€0.01m | -€0.07m | ▼ 390% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 119 companies had the same profile as CAM DEVELOPMENT has now. Two years later, 95.8% were still going and 0.0% had gone bankrupt.
- Medium-sized
- 5 to 10 years old
- solvency 30% or more
- a small loss
95.8%
was still going
4.2%
stopped otherwise
0.0%
went bankrupt
That fits the bankruptcy probability of CAM DEVELOPMENT itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 119 companies, not a prediction for CAM DEVELOPMENT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 04-06-2026 | 2026-00137823 | |
| 31-12-2024 | abbreviated format | 18-03-2025 | 2025-00052104 | |
| 31-12-2023 | abbreviated format | 29-04-2024 | 2024-00073027 | |
| 31-12-2022 | abbreviated format | 30-05-2023 | 2023-00098497 | |
| 31-12-2021 | abbreviated format | 14-06-2022 | 2022-20068132 | |
| 31-12-2020 | abbreviated format | 26-05-2021 | 2021-15400193 | |
| 31-12-2019 | abbreviated format | 30-09-2020 | 2020-56700569 | |
| 31-12-2018 | abbreviated format | 13-08-2019 | 2019-45600198 |