CAMAS: 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.
CAMAS
Largest movements
- Tangible fixed assets +€702,672
up €702,672 (+1340.8%), from €52,408 to €755,081
of which Land and buildings: +€696,897
- Receivables within one year +€120,206
up €120,206 (+47.5%), from €253,062 to €373,269
- Cash -€48,127
down €48,127 (-35.1%), from €137,225 to €89,098
mainly Investment in fixed assets (net) (-€825,289) and Receivables within one year (-€120,206)
- Debts after one year +€507,133
up €507,133 (+1481.1%), from €34,240 to €541,373
- Profit (loss) carried forward +€262,162
up €262,162 (+157.2%), from €166,719 to €428,882
- Trade debts -€65,149
down €65,149 (-68.8%), from €94,705 to €29,556
- Tax, wage and social debts +€52,379
up €52,379 (+41.4%), from €126,663 to €179,042
of which Taxes: +€53,952
- Current portion of long-term debt +€28,644
up €28,644 (+175.3%), from €16,341 to €44,985
- Gross operating margin +€343,067
up €343,067 (+129.3%), from €265,296 to €608,363
- Depreciation +€105,986
up €105,986 (+703.1%), from €15,075 to €121,061
- Staff costs +€81,137
up €81,137 (+156.3%), from €51,915 to €133,052
- Taxes +€37,191
up €37,191 (+83.3%), from €44,669 to €81,860
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 | €450,004 | €1,233,837 | +€783,833 | +174.2% |
| Fixed assets | 21/28 | €52,408 | €756,636 | +€704,228 | +1343.7% |
| Intangible fixed assets | 21 | - | €1,555 | +€1,555 | |
| Tangible fixed assets | 22/27 | €52,408 | €755,081 | +€702,672 | +1340.8% |
| Land and buildings | 22 | - | €696,897 | +€696,897 | |
| Plant, machinery and equipment | 23 | €1,742 | €1,331 | -€411 | -23.6% |
| Leasing and similar rights | 25 | €50,667 | €32,538 | -€18,129 | -35.8% |
| Assets under construction and advance payments | 27 | - | €24,314 | +€24,314 | |
| Current assets | 29/58 | €397,596 | €477,201 | +€79,605 | +20.0% |
| Amounts receivable within one year | 40/41 | €253,062 | €373,269 | +€120,206 | +47.5% |
| Trade receivables | 40 | €253,062 | €373,269 | +€120,206 | +47.5% |
| Cash at bank and in hand | 54/58 | €137,225 | €89,098 | -€48,127 | -35.1% |
| Deferred charges and accrued income | 490/1 | €7,308 | €14,834 | +€7,526 | +103.0% |
| Total equity and liabilities | 10/49 | €450,004 | €1,233,837 | +€783,833 | +174.2% |
| Equity | 10/15 | €176,719 | €438,882 | +€262,162 | +148.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,719 | €428,882 | +€262,162 | +157.2% |
| Amounts payable | 17/49 | €273,285 | €794,955 | +€521,671 | +190.9% |
| Amounts payable after more than one year | 17 | €34,240 | €541,373 | +€507,133 | +1481.1% |
| Financial debts | 170/4 | €34,240 | €541,373 | +€507,133 | +1481.1% |
| Amounts payable within one year | 42/48 | €239,045 | €253,583 | +€14,537 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €16,341 | €44,985 | +€28,644 | +175.3% |
| Trade debts | 44 | €94,705 | €29,556 | -€65,149 | -68.8% |
| Suppliers | 440/4 | €94,705 | €29,556 | -€65,149 | -68.8% |
| Taxes, remuneration and social security | 45 | €126,663 | €179,042 | +€52,379 | +41.4% |
| Taxes | 450/3 | €113,739 | €167,691 | +€53,952 | +47.4% |
| Remuneration and social security | 454/9 | €12,924 | €11,350 | -€1,574 | -12.2% |
| Other amounts payable | 47/48 | €1,336 | €0 | -€1,336 | -100.0% |
| Remuneration, social security and pensions | 62 | €51,915 | €133,052 | +€81,137 | +156.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,075 | €121,061 | +€105,986 | +703.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €1,365 | €1,522 | +€156 | +11.5% |
| Gross operating margin | 9900 | €265,296 | €608,363 | +€343,067 | +129.3% |
| Operating profit (loss) | 9901 | €196,941 | €347,728 | +€150,787 | +76.6% |
| Financial income | 75/76B | €2,758 | €2,076 | -€682 | -24.7% |
| Recurring financial income | 75 | €2,758 | €2,076 | -€682 | -24.7% |
| Financial charges | 65/66B | €2,585 | €5,782 | +€3,197 | +123.7% |
| Recurring financial charges | 65 | €2,585 | €5,782 | +€3,197 | +123.7% |
| Profit (loss) for the period before taxes | 9903 | €197,114 | €344,022 | +€146,909 | +74.5% |
| Income taxes | 67/77 | €44,669 | €81,860 | +€37,191 | +83.3% |
| Profit (loss) for the period | 9904 | €152,444 | €262,162 | +€109,718 | +72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €152,444 | €262,162 | +€109,718 | +72.0% |
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 8 October 2026 via checked.be.