CAAM: what changed
Two fiscal 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.
CAAM
Largest movements
- Cash -€28,120
down €28,120 (-38.3%), from €73,471 to €45,351
mainly Other debts (-€46,383) and Tax, wage and social debts (-€20,404)
- Tangible fixed assets -€7,312
down €7,312 (-31.2%), from €23,425 to €16,113
of which Other tangible fixed assets: -€5,178
- Deferred charges and accrued income -€2,338
no longer reported in 2025 (was €2,338)
- Other debts -€46,383
down €46,383 (-83.7%), from €55,385 to €9,003
- Reserves +€29,793
up €29,793 (+26.1%), from €114,142 to €143,935
- Tax, wage and social debts -€20,404
down €20,404 (-63.8%), from €31,982 to €11,578
- Staff costs -€15,287
down €15,287 (-15.8%), from €96,720 to €81,434
- Gross operating margin +€7,867
up €7,867 (+5.9%), from €132,445 to €140,312
- Taxes +€5,831
up €5,831 (+105.3%), from €5,539 to €11,370
- Financial charges +€1,521
up €1,521 (+87.1%), from €1,747 to €3,267
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 | €220,180 | €183,155 | -€37,025 | -16.8% |
| Fixed assets | 21/28 | €30,625 | €23,313 | -€7,312 | -23.9% |
| Tangible fixed assets | 22/27 | €23,425 | €16,113 | -€7,312 | -31.2% |
| Plant, machinery and equipment | 23 | €9,870 | €9,305 | -€565 | -5.7% |
| Furniture and vehicles | 24 | €5,891 | €4,323 | -€1,568 | -26.6% |
| Other tangible fixed assets | 26 | €7,664 | €2,485 | -€5,178 | -67.6% |
| Financial fixed assets | 28 | €7,200 | €7,200 | = | 0.0% |
| Current assets | 29/58 | €189,555 | €159,843 | -€29,712 | -15.7% |
| Amounts receivable after more than one year | 29 | €101,311 | €101,311 | = | 0.0% |
| Trade receivables | 290 | €101,311 | €101,311 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,481 | €4,400 | -€81 | -1.8% |
| Stocks | 30/36 | €4,481 | €4,400 | -€81 | -1.8% |
| Amounts receivable within one year | 40/41 | €7,955 | €8,781 | +€827 | +10.4% |
| Trade receivables | 40 | €3,867 | - | -€3,867 | |
| Other amounts receivable | 41 | €4,087 | €8,781 | +€4,694 | +114.8% |
| Cash at bank and in hand | 54/58 | €73,471 | €45,351 | -€28,120 | -38.3% |
| Deferred charges and accrued income | 490/1 | €2,338 | - | -€2,338 | |
| Total equity and liabilities | 10/49 | €220,180 | €183,155 | -€37,025 | -16.8% |
| Equity | 10/15 | €132,742 | €162,535 | +€29,793 | +22.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,142 | €143,935 | +€29,793 | +26.1% |
| Distributable reserves | 133 | €114,142 | €143,935 | +€29,793 | +26.1% |
| Amounts payable | 17/49 | €87,438 | €20,620 | -€66,818 | -76.4% |
| Amounts payable within one year | 42/48 | €87,367 | €20,620 | -€66,747 | -76.4% |
| Trade debts | 44 | - | €40 | +€40 | |
| Suppliers | 440/4 | - | €40 | +€40 | |
| Taxes, remuneration and social security | 45 | €31,982 | €11,578 | -€20,404 | -63.8% |
| Taxes | 450/3 | €31,982 | €11,578 | -€20,404 | -63.8% |
| Other amounts payable | 47/48 | €55,385 | €9,003 | -€46,383 | -83.7% |
| Accrued charges and deferred income | 492/3 | €71 | - | -€71 | |
| Remuneration, social security and pensions | 62 | €96,720 | €81,434 | -€15,287 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,910 | €10,780 | +€871 | +8.8% |
| Other operating charges | 640/8 | €2,842 | €3,667 | +€825 | +29.0% |
| Gross operating margin | 9900 | €132,445 | €140,312 | +€7,867 | +5.9% |
| Operating profit (loss) | 9901 | €22,974 | €44,431 | +€21,457 | +93.4% |
| Financial charges | 65/66B | €1,747 | €3,267 | +€1,521 | +87.1% |
| Recurring financial charges | 65 | €1,747 | €3,267 | +€1,521 | +87.1% |
| Profit (loss) for the period before taxes | 9903 | €21,227 | €41,164 | +€19,937 | +93.9% |
| Income taxes | 67/77 | €5,539 | €11,370 | +€5,831 | +105.3% |
| Profit (loss) for the period | 9904 | €15,688 | €29,793 | +€14,105 | +89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,688 | €29,793 | +€14,105 | +89.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.