CAM MANAGEMENT: 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 MANAGEMENT
Largest movements
- Stocks and contracts +€913,211
up €913,211 (+580%), from €157,457 to €1.1m
- Cash +€54,661
up €54,661 (+23.1%), from €236,674 to €291,335
mainly Short-term financial debts (+€718,769) and Trade debts (+€152,346)
- Receivables within one year -€37,524
down €37,524 (-41.9%), from €89,621 to €52,097
of which Trade receivables: -€43,553
- Short-term financial debts +€718,769
new in 2025: €718,769
- Trade debts +€152,346
up €152,346 (+11,730%), from €1,299 to €153,645
- Reserves +€44,133
up €44,133 (+9.8%), from €448,155 to €492,288
of which Distributable reserves: +€44,133
- Other debts +€29,518
new in 2025: €29,518
- Tax, wage and social debts -€17,108
down €17,108 (-92.6%), from €18,485 to €1,377
of which Taxes: -€18,485
- Gross operating margin -€33,085
down €33,085 (-32.4%), from €102,238 to €69,153
- Taxes -€11,469
down €11,469 (-40.3%), from €28,485 to €17,017
- Financial charges +€6,082
up €6,082 (+4,333%), from €140 to €6,223
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 | €486,539 | €1,415,964 | +€929,425 | +191% |
| Fixed assets | 21/28 | €2,787 | €1,863 | -€924 | -33.1% |
| Tangible fixed assets | 22/27 | €2,632 | €1,508 | -€1,124 | -42.7% |
| Plant, machinery and equipment | 23 | €2,632 | €1,508 | -€1,124 | -42.7% |
| Financial fixed assets | 28 | €155 | €355 | +€200 | +129% |
| Current assets | 29/58 | €483,752 | €1,414,101 | +€930,349 | +192% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €157,457 | €1,070,669 | +€913,211 | +580% |
| Stocks | 30/36 | €157,457 | €1,070,669 | +€913,211 | +580% |
| Amounts receivable within one year | 40/41 | €89,621 | €52,097 | -€37,524 | -41.9% |
| Trade receivables | 40 | €86,640 | €43,086 | -€43,553 | -50.3% |
| Other amounts receivable | 41 | €2,981 | €9,011 | +€6,030 | +202% |
| Cash at bank and in hand | 54/58 | €236,674 | €291,335 | +€54,661 | +23.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €486,539 | €1,415,964 | +€929,425 | +191% |
| Equity | 10/15 | €466,755 | €510,888 | +€44,133 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €448,155 | €492,288 | +€44,133 | +9.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €448,155 | €492,288 | +€44,133 | +9.8% |
| Amounts payable | 17/49 | €19,784 | €905,077 | +€885,293 | +4,475% |
| Amounts payable within one year | 42/48 | €19,784 | €903,309 | +€883,525 | +4,466% |
| Financial debts | 43 | - | €718,769 | +€718,769 | |
| Credit institutions | 430/8 | - | €718,769 | +€718,769 | |
| Trade debts | 44 | €1,299 | €153,645 | +€152,346 | +11,730% |
| Suppliers | 440/4 | €1,299 | €153,645 | +€152,346 | +11,730% |
| Taxes, remuneration and social security | 45 | €18,485 | €1,377 | -€17,108 | -92.6% |
| Taxes | 450/3 | €18,485 | €0 | -€18,485 | -100% |
| Remuneration and social security | 454/9 | - | €1,377 | +€1,377 | |
| Other amounts payable | 47/48 | - | €29,518 | +€29,518 | |
| Accrued charges and deferred income | 492/3 | €0 | €1,768 | +€1,768 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,164 | €1,124 | -€41 | -3.5% |
| Other operating charges | 640/8 | €1,042 | €677 | -€365 | -35.0% |
| Gross operating margin | 9900 | €102,238 | €69,153 | -€33,085 | -32.4% |
| Operating profit (loss) | 9901 | €100,032 | €67,353 | -€32,679 | -32.7% |
| Financial income | 75/76B | €703 | €19 | -€684 | -97.3% |
| Recurring financial income | 75 | €703 | €19 | -€684 | -97.3% |
| Financial charges | 65/66B | €140 | €6,223 | +€6,082 | +4,333% |
| Recurring financial charges | 65 | €140 | €6,223 | +€6,082 | +4,333% |
| Profit (loss) for the period before taxes | 9903 | €100,595 | €61,149 | -€39,445 | -39.2% |
| Income taxes | 67/77 | €28,485 | €17,017 | -€11,469 | -40.3% |
| Profit (loss) for the period | 9904 | €72,109 | €44,133 | -€27,977 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,109 | €44,133 | -€27,977 | -38.8% |
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 22 October 2026 via checked.be.