Camel Q: 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.
Camel Q
Largest movements
- Receivables within one year -€51,165
down €51,165 (-51.1%), from €100,074 to €48,909
of which Trade receivables: -€47,469
- Cash +€24,460
up €24,460 (+28.8%), from €84,787 to €109,247
mainly Net result for the year (+€141,845) and Receivables within one year (+€51,165)
- Tangible fixed assets -€5,956
down €5,956 (-74.0%), from €8,053 to €2,097
of which Leasing and similar rights: -€8,053
- Other debts -€21,570
down €21,570 (-13.2%), from €163,415 to €141,845
- Current portion of long-term debt -€8,170
down €8,170 (-100.0%), from €8,170 to €0
- Tax, wage and social debts -€6,997
down €6,997 (-34.9%), from €20,036 to €13,039
- Trade debts +€4,258
up €4,258 (+2808.0%), from €152 to €4,409
- Gross operating margin -€35,712
down €35,712 (-15.5%), from €230,001 to €194,289
- Taxes -€14,370
down €14,370 (-25.0%), from €57,420 to €43,050
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 | €196,772 | €164,293 | -€32,480 | -16.5% |
| Fixed assets | 21/28 | €8,303 | €2,347 | -€5,956 | -71.7% |
| Tangible fixed assets | 22/27 | €8,053 | €2,097 | -€5,956 | -74.0% |
| Furniture and vehicles | 24 | - | €2,097 | +€2,097 | |
| Leasing and similar rights | 25 | €8,053 | €0 | -€8,053 | -100.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €188,470 | €161,946 | -€26,524 | -14.1% |
| Amounts receivable within one year | 40/41 | €100,074 | €48,909 | -€51,165 | -51.1% |
| Trade receivables | 40 | €87,169 | €39,701 | -€47,469 | -54.5% |
| Other amounts receivable | 41 | €12,905 | €9,209 | -€3,696 | -28.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €84,787 | €109,247 | +€24,460 | +28.8% |
| Deferred charges and accrued income | 490/1 | €3,608 | €3,789 | +€181 | +5.0% |
| Total equity and liabilities | 10/49 | €196,772 | €164,293 | -€32,480 | -16.5% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €191,772 | €159,293 | -€32,480 | -16.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €191,772 | €159,293 | -€32,480 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €8,170 | €0 | -€8,170 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €152 | €4,409 | +€4,258 | +2808.0% |
| Suppliers | 440/4 | €152 | €4,409 | +€4,258 | +2808.0% |
| Taxes, remuneration and social security | 45 | €20,036 | €13,039 | -€6,997 | -34.9% |
| Taxes | 450/3 | €20,036 | €13,039 | -€6,997 | -34.9% |
| Other amounts payable | 47/48 | €163,415 | €141,845 | -€21,570 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,482 | €8,139 | -€1,343 | -14.2% |
| Other operating charges | 640/8 | €2,120 | €1,503 | -€618 | -29.1% |
| Gross operating margin | 9900 | €230,001 | €194,289 | -€35,712 | -15.5% |
| Operating profit (loss) | 9901 | €218,399 | €184,647 | -€33,752 | -15.5% |
| Financial income | 75/76B | €1,309 | €373 | -€936 | -71.5% |
| Recurring financial income | 75 | €1,309 | €373 | -€936 | -71.5% |
| Financial charges | 65/66B | -€1,127 | €126 | +€1,253 | |
| Recurring financial charges | 65 | -€1,127 | €126 | +€1,253 | |
| Profit (loss) for the period before taxes | 9903 | €220,835 | €184,895 | -€35,940 | -16.3% |
| Income taxes | 67/77 | €57,420 | €43,050 | -€14,370 | -25.0% |
| Profit (loss) for the period | 9904 | €163,415 | €141,845 | -€21,570 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €163,415 | €141,845 | -€21,570 | -13.2% |
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.