CAMARE: 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.
CAMARE
Largest movements
- Tangible fixed assets +€456,434
up €456,434 (+65.9%), from €692,892 to €1.1m
- Cash +€18,020
up €18,020 (+46.4%), from €38,847 to €56,867
mainly Debts after one year (+€455,017) and Depreciation (+€30,871)
- Receivables within one year +€13,634
up €13,634 (+112.5%), from €12,116 to €25,750
of which Trade receivables: +€25,750
- Debts after one year +€455,017
up €455,017 (+64.5%), from €705,664 to €1.2m
of which Financial debts: +€315,017
- Current portion of long-term debt +€16,745
up €16,745 (+52.1%), from €32,168 to €48,913
- Reserves +€13,080
up €13,080 (+683.7%), from €1,913 to €14,993
- Gross operating margin +€25,281
up €25,281 (+49.2%), from €51,334 to €76,614
- Financial charges +€11,349
up €11,349 (+64.1%), from €17,719 to €29,068
- Depreciation +€5,456
up €5,456 (+21.5%), from €25,415 to €30,871
- Other operating charges -€2,877
down €2,877 (-45.8%), from €6,287 to €3,411
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 | €759,745 | €1,246,144 | +€486,399 | +64.0% |
| Formation expenses | 20 | €15,890 | €14,202 | -€1,688 | -10.6% |
| Fixed assets | 21/28 | €692,892 | €1,149,325 | +€456,434 | +65.9% |
| Tangible fixed assets | 22/27 | €692,892 | €1,149,325 | +€456,434 | +65.9% |
| Land and buildings | 22 | €692,892 | €1,149,325 | +€456,434 | +65.9% |
| Current assets | 29/58 | €50,963 | €82,617 | +€31,654 | +62.1% |
| Amounts receivable within one year | 40/41 | €12,116 | €25,750 | +€13,634 | +112.5% |
| Trade receivables | 40 | - | €25,750 | +€25,750 | |
| Other amounts receivable | 41 | €12,116 | €0 | -€12,116 | -100.0% |
| Cash at bank and in hand | 54/58 | €38,847 | €56,867 | +€18,020 | +46.4% |
| Total equity and liabilities | 10/49 | €759,745 | €1,246,144 | +€486,399 | +64.0% |
| Equity | 10/15 | €21,913 | €34,993 | +€13,080 | +59.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,913 | €14,993 | +€13,080 | +683.7% |
| Distributable reserves | 133 | €1,913 | €14,993 | +€13,080 | +683.7% |
| Amounts payable | 17/49 | €737,832 | €1,211,151 | +€473,320 | +64.2% |
| Amounts payable after more than one year | 17 | €705,664 | €1,160,680 | +€455,017 | +64.5% |
| Financial debts | 170/4 | €665,664 | €980,680 | +€315,017 | +47.3% |
| Other amounts payable | 178/9 | €40,000 | €180,000 | +€140,000 | +350.0% |
| Amounts payable within one year | 42/48 | €32,168 | €50,471 | +€18,303 | +56.9% |
| Current portion of amounts payable after more than one year | 42 | €32,168 | €48,913 | +€16,745 | +52.1% |
| Trade debts | 44 | - | €260 | +€260 | |
| Suppliers | 440/4 | - | €260 | +€260 | |
| Taxes, remuneration and social security | 45 | - | €1,298 | +€1,298 | |
| Taxes | 450/3 | - | €1,298 | +€1,298 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,415 | €30,871 | +€5,456 | +21.5% |
| Other operating charges | 640/8 | €6,287 | €3,411 | -€2,877 | -45.8% |
| Gross operating margin | 9900 | €51,334 | €76,614 | +€25,281 | +49.2% |
| Operating profit (loss) | 9901 | €19,632 | €42,333 | +€22,701 | +115.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €17,719 | €29,068 | +€11,349 | +64.1% |
| Recurring financial charges | 65 | €17,719 | €29,068 | +€11,349 | +64.1% |
| Profit (loss) for the period before taxes | 9903 | €1,913 | €13,266 | +€11,352 | +593.4% |
| Income taxes | 67/77 | - | €186 | +€186 | |
| Profit (loss) for the period | 9904 | €1,913 | €13,080 | +€11,167 | +583.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,913 | €13,080 | +€11,167 | +583.7% |
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 11 October 2026 via checked.be.