CAMARQUE: 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.
CAMARQUE
Largest movements
- Cash +€2.6m
up €2.6m (+23.3%), from €11.1m to €13.6m
mainly Current investments (+€2.1m) and Receivables after one year (+€547,828)
- Current investments -€2.1m
down €2.1m (-98.9%), from €2.2m to €24,000
- Receivables after one year -€547,828
down €547,828 (-23.9%), from €2.3m to €1.7m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€185,193
down €185,193 (-35.7%), from €518,082 to €332,889
- Financial charges +€158,933
up €158,933 (+82.0%), from €193,760 to €352,693
- Taxes -€57,820
down €57,820 (-100.0%), from €57,825 to €4
- Gross operating margin +€50,727
up €50,727 (+61.4%), from -€82,658 to -€31,930
- Purchases and services +€37,942
new in 2025: €37,942
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 | €15,827,051 | €15,748,906 | -€78,145 | -0.5% |
| Fixed assets | 21/28 | €110,196 | €88,692 | -€21,503 | -19.5% |
| Tangible fixed assets | 22/27 | €110,196 | €88,692 | -€21,503 | -19.5% |
| Furniture and vehicles | 24 | €110,196 | €88,692 | -€21,503 | -19.5% |
| Current assets | 29/58 | €15,716,855 | €15,660,214 | -€56,642 | -0.4% |
| Amounts receivable after more than one year | 29 | €2,292,779 | €1,744,951 | -€547,828 | -23.9% |
| Other amounts receivable | 291 | €2,292,779 | €1,744,951 | -€547,828 | -23.9% |
| Amounts receivable within one year | 40/41 | €208,583 | €255,632 | +€47,049 | +22.6% |
| Trade receivables | 40 | €2,280 | - | -€2,280 | |
| Other amounts receivable | 41 | €206,303 | €255,632 | +€49,329 | +23.9% |
| Current investments | 50/53 | €2,152,217 | €24,000 | -€2.1m | -98.9% |
| Cash at bank and in hand | 54/58 | €11,063,276 | €13,635,631 | +€2.6m | +23.3% |
| Total equity and liabilities | 10/49 | €15,827,051 | €15,748,906 | -€78,145 | -0.5% |
| Equity | 10/15 | €15,827,051 | €15,748,906 | -€78,145 | -0.5% |
| Contributions | 10/11 | €15,500,000 | €15,500,000 | = | 0.0% |
| Reserves | 13 | €234,337 | €234,337 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,149 | €12,149 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,149 | €12,149 | = | 0.0% |
| Distributable reserves | 133 | €222,188 | €222,188 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,714 | €14,569 | -€78,145 | -84.3% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €37,942 | +€37,942 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,506 | €21,503 | -€3 | 0.0% |
| Other operating charges | 640/8 | €3,283 | €4,902 | +€1,620 | +49.3% |
| Gross operating margin | 9900 | -€82,658 | -€31,930 | +€50,727 | +61.4% |
| Operating profit (loss) | 9901 | -€107,447 | -€58,336 | +€49,111 | +45.7% |
| Financial income | 75/76B | €518,082 | €332,889 | -€185,193 | -35.7% |
| Recurring financial income | 75 | €518,082 | €332,889 | -€185,193 | -35.7% |
| Financial charges | 65/66B | €193,760 | €352,693 | +€158,933 | +82.0% |
| Recurring financial charges | 65 | €193,760 | €352,693 | +€158,933 | +82.0% |
| Profit (loss) for the period before taxes | 9903 | €216,875 | -€78,141 | -€295,016 | |
| Income taxes | 67/77 | €57,825 | €4 | -€57,820 | -100.0% |
| Profit (loss) for the period | 9904 | €159,050 | -€78,145 | -€237,195 | |
| Profit (loss) for the period to be appropriated | 9905 | €159,050 | -€78,145 | -€237,195 |
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 29 September 2026 via checked.be.