CAMBIUM: 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.
CAMBIUM
Largest movements
- Tangible fixed assets +€117,804
up €117,804 (+172.3%), from €68,368 to €186,172
of which Plant, machinery and equipment: +€107,491
- Receivables within one year -€77,636
down €77,636 (-51.8%), from €149,864 to €72,228
of which Trade receivables: -€49,843
- Stocks and contracts -€28,940
down €28,940 (-44.7%), from €64,811 to €35,871
- Cash +€10,619
up €10,619 (+2.8%), from €381,060 to €391,679
mainly Receivables within one year (+€77,636) and Net result for the year (+€41,205)
- Trade debts -€70,318
down €70,318 (-64.4%), from €109,211 to €38,893
- Reserves +€41,205
up €41,205 (+8.2%), from €503,959 to €545,164
- Debts after one year +€32,333
up €32,333 (+151.4%), from €21,355 to €53,688
- Current portion of long-term debt +€11,824
up €11,824 (+127.1%), from €9,306 to €21,130
- Tax, wage and social debts +€7,021
up €7,021 (+82.8%), from €8,476 to €15,496
of which Remuneration and social security: +€5,682
- Staff costs +€11,682
up €11,682 (+7.5%), from €155,695 to €167,377
- Gross operating margin +€10,446
up €10,446 (+4.1%), from €255,145 to €265,591
- Write-downs +€10,038
new in 2025: €10,038
- Depreciation +€7,695
up €7,695 (+31.0%), from €24,807 to €32,502
- Taxes -€7,363
down €7,363 (-39.1%), from €18,816 to €11,453
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 | €672,377 | €694,203 | +€21,826 | +3.2% |
| Fixed assets | 21/28 | €68,368 | €186,172 | +€117,804 | +172.3% |
| Tangible fixed assets | 22/27 | €68,368 | €186,172 | +€117,804 | +172.3% |
| Plant, machinery and equipment | 23 | €4,969 | €112,460 | +€107,491 | +2163.1% |
| Furniture and vehicles | 24 | €40,666 | €54,555 | +€13,889 | +34.2% |
| Other tangible fixed assets | 26 | €22,733 | €19,157 | -€3,576 | -15.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €604,009 | €508,031 | -€95,978 | -15.9% |
| Stocks and contracts in progress | 3 | €64,811 | €35,871 | -€28,940 | -44.7% |
| Stocks | 30/36 | €64,811 | €35,871 | -€28,940 | -44.7% |
| Amounts receivable within one year | 40/41 | €149,864 | €72,228 | -€77,636 | -51.8% |
| Trade receivables | 40 | €87,243 | €37,400 | -€49,843 | -57.1% |
| Other amounts receivable | 41 | €62,621 | €34,828 | -€27,793 | -44.4% |
| Cash at bank and in hand | 54/58 | €381,060 | €391,679 | +€10,619 | +2.8% |
| Deferred charges and accrued income | 490/1 | €8,274 | €8,253 | -€20 | -0.2% |
| Total equity and liabilities | 10/49 | €672,377 | €694,203 | +€21,826 | +3.2% |
| Equity | 10/15 | €522,559 | €563,764 | +€41,205 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €503,959 | €545,164 | +€41,205 | +8.2% |
| Distributable reserves | 133 | €503,959 | €545,164 | +€41,205 | +8.2% |
| Amounts payable | 17/49 | €149,818 | €130,440 | -€19,379 | -12.9% |
| Amounts payable after more than one year | 17 | €21,355 | €53,688 | +€32,333 | +151.4% |
| Financial debts | 170/4 | €21,355 | €53,688 | +€32,333 | +151.4% |
| Amounts payable within one year | 42/48 | €126,993 | €75,520 | -€51,474 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €9,306 | €21,130 | +€11,824 | +127.1% |
| Trade debts | 44 | €109,211 | €38,893 | -€70,318 | -64.4% |
| Suppliers | 440/4 | €109,211 | €38,893 | -€70,318 | -64.4% |
| Taxes, remuneration and social security | 45 | €8,476 | €15,496 | +€7,021 | +82.8% |
| Taxes | 450/3 | €0 | €1,338 | +€1,338 | |
| Remuneration and social security | 454/9 | €8,476 | €14,158 | +€5,682 | +67.0% |
| Accrued charges and deferred income | 492/3 | €1,470 | €1,232 | -€237 | -16.2% |
| Remuneration, social security and pensions | 62 | €155,695 | €167,377 | +€11,682 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,807 | €32,502 | +€7,695 | +31.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,038 | +€10,038 | |
| Other operating charges | 640/8 | €2,697 | €3,553 | +€857 | +31.8% |
| Gross operating margin | 9900 | €255,145 | €265,591 | +€10,446 | +4.1% |
| Operating profit (loss) | 9901 | €71,946 | €52,120 | -€19,826 | -27.6% |
| Financial income | 75/76B | €402 | €3,060 | +€2,658 | +661.8% |
| Recurring financial income | 75 | €402 | €3,060 | +€2,658 | +661.8% |
| Financial charges | 65/66B | €2,269 | €2,523 | +€254 | +11.2% |
| Recurring financial charges | 65 | €2,269 | €2,523 | +€254 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €70,079 | €52,658 | -€17,421 | -24.9% |
| Income taxes | 67/77 | €18,816 | €11,453 | -€7,363 | -39.1% |
| Profit (loss) for the period | 9904 | €51,263 | €41,205 | -€10,058 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,263 | €41,205 | -€10,058 | -19.6% |
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 3 October 2026 via checked.be.