CAM DEVELOPMENT: 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.
CAM DEVELOPMENT
Largest movements
- Stocks and contracts +€4.0m
up €4.0m (+127%), from €3.1m to €7.1m
- Cash -€72,101
down €72,101 (-63.5%), from €113,571 to €41,469
mainly Stocks and contracts (-€4.0m) and Debts after one year (-€30,000)
- Contributions +€4.0m
up €4.0m (+21,237%), from €18,600 to €4.0m
- Gross operating margin +€5,851
up €5,851 (+45.5%), from -€12,848 to -€6,998
- Financial income -€2,188
down €2,188 (-100%), from €2,188 to €0
- Financial charges +€206
up €206 (+28.7%), from €720 to €926
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 | €3,255,326 | €7,169,310 | +€3.9m | +120% |
| Current assets | 29/58 | €3,255,326 | €7,169,310 | +€3.9m | +120% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €3,141,755 | €7,127,840 | +€4.0m | +127% |
| Stocks | 30/36 | €3,141,755 | €7,127,840 | +€4.0m | +127% |
| Cash at bank and in hand | 54/58 | €113,571 | €41,469 | -€72,101 | -63.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,255,326 | €7,169,310 | +€3.9m | +120% |
| Equity | 10/15 | €1,569,395 | €5,508,295 | +€3.9m | +251% |
| Contributions | 10/11 | €18,600 | €3,968,600 | +€4.0m | +21,237% |
| Reserves | 13 | €1,555,674 | €1,555,674 | = | 0.0% |
| Distributable reserves | 133 | €1,555,674 | €1,555,674 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,879 | -€15,980 | -€11,101 | -228% |
| Amounts payable | 17/49 | €1,685,930 | €1,661,015 | -€24,915 | -1.5% |
| Amounts payable after more than one year | 17 | €1,670,000 | €1,640,000 | -€30,000 | -1.8% |
| Financial debts | 170/4 | €1,670,000 | €1,640,000 | -€30,000 | -1.8% |
| Amounts payable within one year | 42/48 | €1,488 | €249 | -€1,238 | -83.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,488 | €249 | -€1,238 | -83.2% |
| Suppliers | 440/4 | €1,488 | €249 | -€1,238 | -83.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €14,443 | €20,766 | +€6,323 | +43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €3,081 | €3,177 | +€96 | +3.1% |
| Gross operating margin | 9900 | -€12,848 | -€6,998 | +€5,851 | +45.5% |
| Operating profit (loss) | 9901 | -€15,930 | -€10,174 | +€5,755 | +36.1% |
| Financial income | 75/76B | €2,188 | €0 | -€2,188 | -100% |
| Recurring financial income | 75 | €2,188 | €0 | -€2,188 | -100% |
| Financial charges | 65/66B | €720 | €926 | +€206 | +28.7% |
| Recurring financial charges | 65 | €720 | €926 | +€206 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,462 | -€11,101 | +€3,362 | +23.2% |
| Profit (loss) for the period | 9904 | -€14,462 | -€11,101 | +€3,362 | +23.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,462 | -€11,101 | +€3,362 | +23.2% |
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 17 October 2026 via checked.be.