C.A.M.: 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.
C.A.M.
Largest movements
- Receivables within one year -€150,180
down €150,180 (-80.9%), from €185,543 to €35,363
of which Trade receivables: -€146,293
- Cash +€109,171
up €109,171 (+617%), from €17,690 to €126,861
mainly Receivables within one year (+€150,180) and Net result for the year (+€66,999)
- Tangible fixed assets -€15,570
down €15,570 (-10.0%), from €155,332 to €139,762
of which Other tangible fixed assets: -€14,761
- Financial fixed assets +€6,750
up €6,750 (+43.5%), from €15,500 to €22,250
- Trade debts -€45,965
down €45,965 (-94.9%), from €48,451 to €2,486
- Other debts -€45,119
down €45,119 (-99.5%), from €45,323 to €204
- Reserves +€34,074
up €34,074 (+18.5%), from €183,977 to €218,051
of which Distributable reserves: +€34,074
- Tax, wage and social debts +€7,090
up €7,090 (+630%), from €1,126 to €8,216
- Gross operating margin +€30,085
up €30,085 (+37.4%), from €80,461 to €110,547
- Taxes +€8,472
up €8,472 (+48.5%), from €17,452 to €25,923
- Other operating charges -€1,151
down €1,151 (-38.4%), from €2,997 to €1,846
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 | €381,337 | €331,417 | -€49,919 | -13.1% |
| Fixed assets | 21/28 | €170,832 | €162,012 | -€8,820 | -5.2% |
| Tangible fixed assets | 22/27 | €155,332 | €139,762 | -€15,570 | -10.0% |
| Furniture and vehicles | 24 | €1,178 | €369 | -€810 | -68.7% |
| Other tangible fixed assets | 26 | €154,154 | €139,393 | -€14,761 | -9.6% |
| Financial fixed assets | 28 | €15,500 | €22,250 | +€6,750 | +43.5% |
| Current assets | 29/58 | €210,505 | €169,406 | -€41,099 | -19.5% |
| Stocks and contracts in progress | 3 | €2,765 | €3,088 | +€322 | +11.7% |
| Stocks | 30/36 | €2,765 | €3,088 | +€322 | +11.7% |
| Amounts receivable within one year | 40/41 | €185,543 | €35,363 | -€150,180 | -80.9% |
| Trade receivables | 40 | €180,092 | €33,799 | -€146,293 | -81.2% |
| Other amounts receivable | 41 | €5,452 | €1,564 | -€3,888 | -71.3% |
| Cash at bank and in hand | 54/58 | €17,690 | €126,861 | +€109,171 | +617% |
| Deferred charges and accrued income | 490/1 | €4,506 | €4,094 | -€412 | -9.1% |
| Total equity and liabilities | 10/49 | €381,337 | €331,417 | -€49,919 | -13.1% |
| Equity | 10/15 | €245,737 | €279,811 | +€34,074 | +13.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €183,977 | €218,051 | +€34,074 | +18.5% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €177,827 | €211,901 | +€34,074 | +19.2% |
| Profit (loss) carried forward | 14 | €260 | €260 | = | 0.0% |
| Amounts payable | 17/49 | €135,600 | €51,606 | -€83,994 | -61.9% |
| Amounts payable within one year | 42/48 | €134,900 | €50,906 | -€83,994 | -62.3% |
| Trade debts | 44 | €48,451 | €2,486 | -€45,965 | -94.9% |
| Suppliers | 440/4 | €48,451 | €2,486 | -€45,965 | -94.9% |
| Advances received on contracts in progress | 46 | €40,000 | €40,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,126 | €8,216 | +€7,090 | +630% |
| Taxes | 450/3 | €1,126 | €8,216 | +€7,090 | +630% |
| Other amounts payable | 47/48 | €45,323 | €204 | -€45,119 | -99.5% |
| Accrued charges and deferred income | 492/3 | €700 | €700 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €354 | - | -€354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,887 | €15,570 | -€317 | -2.0% |
| Other operating charges | 640/8 | €2,997 | €1,846 | -€1,151 | -38.4% |
| Gross operating margin | 9900 | €80,461 | €110,547 | +€30,085 | +37.4% |
| Operating profit (loss) | 9901 | €61,224 | €93,131 | +€31,907 | +52.1% |
| Financial income | 75/76B | €404 | €158 | -€246 | -60.8% |
| Recurring financial income | 75 | €404 | €158 | -€246 | -60.8% |
| Financial charges | 65/66B | €292 | €366 | +€74 | +25.4% |
| Recurring financial charges | 65 | €292 | €366 | +€74 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €61,336 | €92,923 | +€31,587 | +51.5% |
| Income taxes | 67/77 | €17,452 | €25,923 | +€8,472 | +48.5% |
| Profit (loss) for the period | 9904 | €43,884 | €66,999 | +€23,115 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,884 | €66,999 | +€23,115 | +52.7% |
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 13 October 2026 via checked.be.