CAMAC: 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.
CAMAC
Largest movements
- Tangible fixed assets -€41,143
down €41,143 (-25.6%), from €160,966 to €119,823
of which Plant, machinery and equipment: -€32,835
- Receivables within one year +€37,344
up €37,344 (+44.5%), from €83,904 to €121,248
of which Trade receivables: +€68,119
- Cash -€18,223
down €18,223 (-53.0%), from €34,399 to €16,176
mainly Receivables within one year (-€37,344) and Current portion of long-term debt (-€34,676)
- Stocks and contracts -€16,675
down €16,675 (-26.4%), from €63,090 to €46,415
- Trade debts +€41,197
up €41,197 (+35.9%), from €114,832 to €156,029
- Current portion of long-term debt -€34,676
down €34,676 (-59.6%), from €58,225 to €23,549
- Debts after one year -€23,549
down €23,549 (-71.9%), from €32,751 to €9,202
- Advances received -€14,666
no longer reported in 2025 (was €14,666)
- Investment grants -€3,744
down €3,744 (-16.7%), from €22,464 to €18,720
- Gross operating margin -€189,439
down €189,439 (-37.0%), from €511,621 to €322,182
- Staff costs -€182,052
down €182,052 (-40.2%), from €452,555 to €270,503
- Depreciation -€9,805
down €9,805 (-19.0%), from €51,537 to €41,732
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 | €343,643 | €305,686 | -€37,957 | -11.0% |
| Fixed assets | 21/28 | €161,822 | €121,847 | -€39,975 | -24.7% |
| Tangible fixed assets | 22/27 | €160,966 | €119,823 | -€41,143 | -25.6% |
| Land and buildings | 22 | €4,340 | - | -€4,340 | |
| Plant, machinery and equipment | 23 | €151,246 | €118,411 | -€32,835 | -21.7% |
| Furniture and vehicles | 24 | €5,380 | €1,412 | -€3,968 | -73.8% |
| Financial fixed assets | 28 | €856 | €2,024 | +€1,168 | +136.4% |
| Current assets | 29/58 | €181,821 | €183,839 | +€2,018 | +1.1% |
| Stocks and contracts in progress | 3 | €63,090 | €46,415 | -€16,675 | -26.4% |
| Stocks | 30/36 | €63,090 | €46,415 | -€16,675 | -26.4% |
| Amounts receivable within one year | 40/41 | €83,904 | €121,248 | +€37,344 | +44.5% |
| Trade receivables | 40 | €53,114 | €121,233 | +€68,119 | +128.3% |
| Other amounts receivable | 41 | €30,790 | €15 | -€30,775 | -100.0% |
| Cash at bank and in hand | 54/58 | €34,399 | €16,176 | -€18,223 | -53.0% |
| Deferred charges and accrued income | 490/1 | €428 | - | -€428 | |
| Total equity and liabilities | 10/49 | €343,643 | €305,686 | -€37,957 | -11.0% |
| Equity | 10/15 | €89,025 | €85,040 | -€3,985 | -4.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,561 | €26,320 | -€241 | -0.9% |
| Investment grants | 15 | €22,464 | €18,720 | -€3,744 | -16.7% |
| Amounts payable | 17/49 | €254,618 | €220,646 | -€33,972 | -13.3% |
| Amounts payable after more than one year | 17 | €32,751 | €9,202 | -€23,549 | -71.9% |
| Financial debts | 170/4 | €32,751 | €9,202 | -€23,549 | -71.9% |
| Amounts payable within one year | 42/48 | €217,890 | €207,467 | -€10,423 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €58,225 | €23,549 | -€34,676 | -59.6% |
| Trade debts | 44 | €114,832 | €156,029 | +€41,197 | +35.9% |
| Suppliers | 440/4 | €114,832 | €156,029 | +€41,197 | +35.9% |
| Advances received on contracts in progress | 46 | €14,666 | - | -€14,666 | |
| Taxes, remuneration and social security | 45 | €29,855 | €27,697 | -€2,158 | -7.2% |
| Taxes | 450/3 | €262 | €8,671 | +€8,409 | +3209.5% |
| Remuneration and social security | 454/9 | €29,593 | €19,026 | -€10,567 | -35.7% |
| Other amounts payable | 47/48 | €312 | €192 | -€120 | -38.5% |
| Accrued charges and deferred income | 492/3 | €3,977 | €3,977 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,975 | +€9,975 | |
| Remuneration, social security and pensions | 62 | €452,555 | €270,503 | -€182,052 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,537 | €41,732 | -€9,805 | -19.0% |
| Other operating charges | 640/8 | €10,971 | €10,571 | -€400 | -3.6% |
| Gross operating margin | 9900 | €511,621 | €322,182 | -€189,439 | -37.0% |
| Operating profit (loss) | 9901 | -€3,442 | -€624 | +€2,818 | +81.9% |
| Financial income | 75/76B | €4,445 | €3,991 | -€454 | -10.2% |
| Recurring financial income | 75 | €4,445 | €3,991 | -€454 | -10.2% |
| Financial charges | 65/66B | €7,471 | €3,608 | -€3,863 | -51.7% |
| Recurring financial charges | 65 | €7,471 | €3,608 | -€3,863 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,468 | -€241 | +€6,227 | +96.3% |
| Profit (loss) for the period | 9904 | -€6,468 | -€241 | +€6,227 | +96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,468 | -€241 | +€6,227 | +96.3% |
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 4 October 2026 via checked.be.