CAMAL: 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.
CAMAL
Largest movements
- Receivables after one year +€356,770
new in 2025: €356,770
- Receivables within one year -€267,193
down €267,193 (-98.9%), from €270,065 to €2,872
of which Other amounts receivable: -€264,852
- Cash -€83,344
down €83,344 (-99.3%), from €83,921 to €576
mainly Receivables after one year (-€356,770) and Investment in fixed assets (net) (-€95,968)
- Tangible fixed assets +€61,655
up €61,655 (+129.1%), from €47,752 to €109,407
of which Plant, machinery and equipment: +€53,039
- Deferred charges and accrued income +€5,606
up €5,606 (+144.9%), from €3,869 to €9,475
- Profit (loss) carried forward +€41,938
up €41,938 (+14.5%), from €288,957 to €330,895
- Debts after one year +€37,195
up €37,195 (+99.2%), from €37,490 to €74,685
- Tax, wage and social debts -€23,288
down €23,288 (-61.0%), from €38,197 to €14,909
- Current portion of long-term debt +€14,146
up €14,146 (+100.1%), from €14,135 to €28,280
- Gross operating margin -€26,863
down €26,863 (-17.7%), from €151,726 to €124,863
- Other operating charges +€14,183
up €14,183 (+1008.0%), from €1,407 to €15,590
- Depreciation +€8,536
up €8,536 (+33.1%), from €25,777 to €34,313
- Taxes +€6,342
up €6,342 (+17.8%), from €35,685 to €42,027
- Financial charges -€4,670
down €4,670 (-66.8%), from €6,995 to €2,325
of which Non-recurring financial charges: -€3,900
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 | €406,956 | €480,449 | +€73,494 | +18.1% |
| Fixed assets | 21/28 | €49,101 | €110,756 | +€61,655 | +125.6% |
| Tangible fixed assets | 22/27 | €47,752 | €109,407 | +€61,655 | +129.1% |
| Plant, machinery and equipment | 23 | €7,000 | €60,039 | +€53,039 | +757.7% |
| Furniture and vehicles | 24 | €40,752 | €49,368 | +€8,617 | +21.1% |
| Financial fixed assets | 28 | €1,349 | €1,349 | = | 0.0% |
| Current assets | 29/58 | €357,855 | €369,693 | +€11,838 | +3.3% |
| Amounts receivable after more than one year | 29 | - | €356,770 | +€356,770 | |
| Other amounts receivable | 291 | - | €356,770 | +€356,770 | |
| Amounts receivable within one year | 40/41 | €270,065 | €2,872 | -€267,193 | -98.9% |
| Trade receivables | 40 | €2,341 | - | -€2,341 | |
| Other amounts receivable | 41 | €267,724 | €2,872 | -€264,852 | -98.9% |
| Cash at bank and in hand | 54/58 | €83,921 | €576 | -€83,344 | -99.3% |
| Deferred charges and accrued income | 490/1 | €3,869 | €9,475 | +€5,606 | +144.9% |
| Total equity and liabilities | 10/49 | €406,956 | €480,449 | +€73,494 | +18.1% |
| Equity | 10/15 | €316,487 | €358,426 | +€41,938 | +13.3% |
| Contributions | 10/11 | €7,090 | €7,090 | = | 0.0% |
| Capital | 10 | €7,090 | €7,090 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €11,502 | €11,502 | = | 0.0% |
| Reserves | 13 | €20,441 | €20,441 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €18,581 | €18,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | €288,957 | €330,895 | +€41,938 | +14.5% |
| Amounts payable | 17/49 | €90,468 | €122,024 | +€31,555 | +34.9% |
| Amounts payable after more than one year | 17 | €37,490 | €74,685 | +€37,195 | +99.2% |
| Financial debts | 170/4 | €37,490 | €74,685 | +€37,195 | +99.2% |
| Amounts payable within one year | 42/48 | €52,978 | €47,339 | -€5,639 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €14,135 | €28,280 | +€14,146 | +100.1% |
| Trade debts | 44 | €146 | €3,649 | +€3,503 | +2391.4% |
| Suppliers | 440/4 | €146 | €3,649 | +€3,503 | +2391.4% |
| Taxes, remuneration and social security | 45 | €38,197 | €14,909 | -€23,288 | -61.0% |
| Taxes | 450/3 | €38,197 | €14,909 | -€23,288 | -61.0% |
| Other amounts payable | 47/48 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,777 | €34,313 | +€8,536 | +33.1% |
| Other operating charges | 640/8 | €1,407 | €15,590 | +€14,183 | +1008.0% |
| Gross operating margin | 9900 | €151,726 | €124,863 | -€26,863 | -17.7% |
| Operating profit (loss) | 9901 | €124,542 | €74,960 | -€49,582 | -39.8% |
| Financial income | 75/76B | €11,835 | €11,330 | -€505 | -4.3% |
| Recurring financial income | 75 | €11,835 | €11,330 | -€505 | -4.3% |
| Financial charges | 65/66B | €6,995 | €2,325 | -€4,670 | -66.8% |
| Recurring financial charges | 65 | €3,095 | €2,325 | -€770 | -24.9% |
| Non-recurring financial charges | 66B | €3,900 | - | -€3,900 | |
| Profit (loss) for the period before taxes | 9903 | €129,382 | €83,965 | -€45,417 | -35.1% |
| Income taxes | 67/77 | €35,685 | €42,027 | +€6,342 | +17.8% |
| Profit (loss) for the period | 9904 | €93,697 | €41,938 | -€51,759 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €93,697 | €41,938 | -€51,759 | -55.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.