CAMA-LEX: 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.
CAMA-LEX
Largest movements
- Cash -€370,003
down €370,003 (-72.2%), from €512,202 to €142,199
mainly Other debts (-€267,004) and Contributions, distributions and other (-€213,892)
- Tangible fixed assets +€51,528
up €51,528 (+7.2%), from €715,822 to €767,350
of which Plant, machinery and equipment: +€32,271
- Other debts -€267,004
down €267,004 (-45.5%), from €587,454 to €320,449
- Debts after one year -€44,366
down €44,366 (-7.9%), from €562,967 to €518,600
of which Financial debts: -€49,346
- Gross operating margin +€58,118
up €58,118 (+22.7%), from €255,935 to €314,053
- Taxes +€12,962
up €12,962 (+24.6%), from €52,620 to €65,582
- Depreciation +€5,021
up €5,021 (+28.7%), from €17,524 to €22,545
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 | €1,235,660 | €923,284 | -€312,376 | -25.3% |
| Fixed assets | 21/28 | €715,847 | €767,375 | +€51,528 | +7.2% |
| Tangible fixed assets | 22/27 | €715,822 | €767,350 | +€51,528 | +7.2% |
| Land and buildings | 22 | €711,693 | €695,489 | -€16,203 | -2.3% |
| Plant, machinery and equipment | 23 | €3,766 | €36,038 | +€32,271 | +857% |
| Furniture and vehicles | 24 | €363 | €4,418 | +€4,055 | +1,117% |
| Other tangible fixed assets | 26 | - | €31,405 | +€31,405 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €519,813 | €155,910 | -€363,904 | -70.0% |
| Amounts receivable within one year | 40/41 | €5,000 | €11,012 | +€6,012 | +120% |
| Trade receivables | 40 | €5,000 | €11,012 | +€6,012 | +120% |
| Cash at bank and in hand | 54/58 | €512,202 | €142,199 | -€370,003 | -72.2% |
| Deferred charges and accrued income | 490/1 | €2,611 | €2,699 | +€88 | +3.4% |
| Total equity and liabilities | 10/49 | €1,235,660 | €923,284 | -€312,376 | -25.3% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €1,215,200 | €902,824 | -€312,376 | -25.7% |
| Amounts payable after more than one year | 17 | €562,967 | €518,600 | -€44,366 | -7.9% |
| Financial debts | 170/4 | €562,967 | €513,620 | -€49,346 | -8.8% |
| Other amounts payable | 178/9 | - | €4,980 | +€4,980 | |
| Amounts payable within one year | 42/48 | €652,234 | €384,224 | -€268,010 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €48,913 | €49,346 | +€433 | +0.9% |
| Trade debts | 44 | €4,374 | €1,040 | -€3,335 | -76.2% |
| Suppliers | 440/4 | €4,374 | €1,040 | -€3,335 | -76.2% |
| Taxes, remuneration and social security | 45 | €11,493 | €13,389 | +€1,896 | +16.5% |
| Taxes | 450/3 | €11,493 | €12,197 | +€704 | +6.1% |
| Remuneration and social security | 454/9 | - | €1,192 | +€1,192 | |
| Other amounts payable | 47/48 | €587,454 | €320,449 | -€267,004 | -45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,524 | €22,545 | +€5,021 | +28.7% |
| Other operating charges | 640/8 | €5,572 | €5,783 | +€211 | +3.8% |
| Gross operating margin | 9900 | €255,935 | €314,053 | +€58,118 | +22.7% |
| Operating profit (loss) | 9901 | €232,839 | €285,725 | +€52,886 | +22.7% |
| Financial income | 75/76B | €3 | €4 | +€1 | +38.1% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +38.1% |
| Financial charges | 65/66B | €6,930 | €6,255 | -€675 | -9.7% |
| Recurring financial charges | 65 | €6,930 | €6,255 | -€675 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €225,912 | €279,474 | +€53,562 | +23.7% |
| Income taxes | 67/77 | €52,620 | €65,582 | +€12,962 | +24.6% |
| Profit (loss) for the period | 9904 | €173,292 | €213,892 | +€40,600 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €173,292 | €213,892 | +€40,600 | +23.4% |
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 16 October 2026 via checked.be.