CAM - GROUP: 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.
What changed
CAM - GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€232,459
2024 · €275,547-€43,089
Equity
€3.3m
2024 · €3.1m+€232,459
Cash
€480,746
2024 · €37,831+€442,916
Balance sheet total
€4.5m
2024 · €4.4m+€55,266
Largest movements
Assets
- Cash +€442,916
up €442,916 (+1,171%), from €37,831 to €480,746
mainly Receivables within one year (+€282,192) and Net result for the year (+€232,459)
- Receivables within one year -€282,192
down €282,192 (-26.4%), from €1.1m to €787,893
of which Other amounts receivable: -€234,169
- Tangible fixed assets -€102,298
down €102,298 (-6.6%), from €1.5m to €1.4m
of which Land and buildings: -€101,566
Equity and liabilities
- Debts after one year -€278,665
down €278,665 (-38.1%), from €732,040 to €453,374
of which Financial debts: -€258,387
- Reserves +€232,459
up €232,459 (+10.5%), from €2.2m to €2.4m
of which Distributable reserves: +€236,254
- Trade debts +€66,590
up €66,590 (+22.9%), from €290,850 to €357,439
- Short-term financial debts +€44,999
up €44,999 (+237%), from €19,018 to €64,017
Income statement
- Services and other goods +€44,880
up €44,880 (+3.1%), from €1.5m to €1.5m
- Turnover -€36,789
down €36,789 (-1.9%), from €1.9m to €1.9m
- Financial charges -€32,853
down €32,853 (-53.1%), from €61,862 to €29,008
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.
Result 2024
€275,547
Turnover
-€36,789
Other operating income
-€9,606
Services and other goods
-€44,880
Staff costs
-€1,296
Depreciation
-€1,923
Other operating charges
+€4,632
Financial income
-€205
Financial charges
+€32,853
Taxes
+€14,124
Result 2025
€232,459
raises the resultlowers the result
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.
From operations
+€693,194
Investment
-€16,612
Financing
-€233,667
Cash 2024
€37,831
From operations (derived)
+€693,194
Net result for the year
+€232,459
Depreciation
+€118,910
Receivables within one year
+€282,192
Deferred charges and accrued income
+€3,159
Provisions
-€1,265
Trade debts
+€66,590
Tax, wage and social debts
-€13,320
Other debts
+€8,229
Accrued charges and deferred income
-€3,760
Investment (derived)
-€16,612
Investment in fixed assets (net)
-€16,612
Financing
-€233,667
Debts after one year
-€278,665
Short-term financial debts
+€44,999
Cash 2025
€480,746
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,426,658 | €4,481,924 | +€55,266 | +1.2% |
| Fixed assets | 21/28 | €3,305,630 | €3,203,331 | -€102,298 | -3.1% |
| Tangible fixed assets | 22/27 | €1,544,239 | €1,441,940 | -€102,298 | -6.6% |
| Land and buildings | 22 | €1,530,325 | €1,428,758 | -€101,566 | -6.6% |
| Furniture and vehicles | 24 | €1,654 | €922 | -€732 | -44.3% |
| Other tangible fixed assets | 26 | €12,260 | €12,260 | = | 0.0% |
| Financial fixed assets | 28 | €1,761,391 | €1,761,391 | = | 0.0% |
| Affiliated companies | 280/1 | €1,761,391 | €1,761,391 | = | 0.0% |
| Participating interests | 280 | €1,761,391 | €1,761,391 | = | 0.0% |
| Current assets | 29/58 | €1,121,028 | €1,278,592 | +€157,564 | +14.1% |
| Amounts receivable within one year | 40/41 | €1,070,085 | €787,893 | -€282,192 | -26.4% |
| Trade receivables | 40 | €271,915 | €223,893 | -€48,023 | -17.7% |
| Other amounts receivable | 41 | €798,170 | €564,001 | -€234,169 | -29.3% |
| Cash at bank and in hand | 54/58 | €37,831 | €480,746 | +€442,916 | +1,171% |
| Deferred charges and accrued income | 490/1 | €13,112 | €9,953 | -€3,159 | -24.1% |
| Total equity and liabilities | 10/49 | €4,426,658 | €4,481,924 | +€55,266 | +1.2% |
| Equity | 10/15 | €3,101,241 | €3,333,700 | +€232,459 | +7.5% |
| Contributions | 10/11 | €891,000 | €891,000 | = | 0.0% |
| Reserves | 13 | €2,210,241 | €2,442,700 | +€232,459 | +10.5% |
| Tax-exempt reserves | 132 | €30,870 | €27,075 | -€3,795 | -12.3% |
| Distributable reserves | 133 | €2,179,371 | €2,415,625 | +€236,254 | +10.8% |
| Provisions and deferred taxes | 16 | €10,290 | €9,025 | -€1,265 | -12.3% |
| Deferred taxes | 168 | €10,290 | €9,025 | -€1,265 | -12.3% |
| Amounts payable | 17/49 | €1,315,127 | €1,139,199 | -€175,928 | -13.4% |
| Amounts payable after more than one year | 17 | €732,040 | €453,374 | -€278,665 | -38.1% |
| Financial debts | 170/4 | €509,769 | €251,382 | -€258,387 | -50.7% |
| Credit institutions | 173 | €509,769 | €251,382 | -€258,387 | -50.7% |
| Other amounts payable | 178/9 | €222,271 | €201,992 | -€20,279 | -9.1% |
| Amounts payable within one year | 42/48 | €567,728 | €674,225 | +€106,498 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €183,387 | €183,387 | = | 0.0% |
| Financial debts | 43 | €19,018 | €64,017 | +€44,999 | +237% |
| Credit institutions | 430/8 | €19,018 | €64,017 | +€44,999 | +237% |
| Trade debts | 44 | €290,850 | €357,439 | +€66,590 | +22.9% |
| Suppliers | 440/4 | €290,850 | €357,439 | +€66,590 | +22.9% |
| Taxes, remuneration and social security | 45 | €38,748 | €25,428 | -€13,320 | -34.4% |
| Taxes | 450/3 | €24,010 | €10,077 | -€13,933 | -58.0% |
| Remuneration and social security | 454/9 | €14,738 | €15,351 | +€613 | +4.2% |
| Other amounts payable | 47/48 | €35,725 | €43,954 | +€8,229 | +23.0% |
| Accrued charges and deferred income | 492/3 | €15,360 | €11,600 | -€3,760 | -24.5% |
| Operating income | 70/76A | €2,068,446 | €2,022,051 | -€46,394 | -2.2% |
| Turnover | 70 | €1,939,967 | €1,903,179 | -€36,789 | -1.9% |
| Other operating income | 74 | €128,478 | €118,873 | -€9,606 | -7.5% |
| Operating charges | 60/66A | €1,691,971 | €1,735,437 | +€43,466 | +2.6% |
| Services and other goods | 61 | €1,465,192 | €1,510,072 | +€44,880 | +3.1% |
| Remuneration, social security and pensions | 62 | €74,611 | €75,908 | +€1,296 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,987 | €118,910 | +€1,923 | +1.6% |
| Other operating charges | 640/8 | €35,180 | €30,547 | -€4,632 | -13.2% |
| Operating profit (loss) | 9901 | €376,475 | €286,614 | -€89,861 | -23.9% |
| Financial income | 75/76B | €52,986 | €52,781 | -€205 | -0.4% |
| Recurring financial income | 75 | €52,986 | €52,781 | -€205 | -0.4% |
| Income from current assets | 751 | €52,810 | €52,767 | -€43 | -0.1% |
| Other financial income | 752/9 | €176 | €14 | -€162 | -91.9% |
| Financial charges | 65/66B | €61,862 | €29,008 | -€32,853 | -53.1% |
| Recurring financial charges | 65 | €61,862 | €29,008 | -€32,853 | -53.1% |
| Debt charges | 650 | €60,552 | €27,492 | -€33,060 | -54.6% |
| Other financial charges | 652/9 | €1,310 | €1,517 | +€207 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €367,600 | €310,387 | -€57,213 | -15.6% |
| Transfer from deferred taxes | 780 | €1,265 | €1,265 | = | 0.0% |
| Income taxes | 67/77 | €93,317 | €79,193 | -€14,124 | -15.1% |
| Taxes | 670/3 | €93,317 | €79,193 | -€14,124 | -15.1% |
| Profit (loss) for the period | 9904 | €275,547 | €232,459 | -€43,089 | -15.6% |
| Transfer from tax-exempt reserves | 789 | €3,795 | €3,795 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €279,342 | €236,254 | -€43,089 | -15.4% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.