CAMELEON: 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.
What changed
CAMELEON
NACE 46.190, Agents in non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€160,343
2024 · -€266,593+€106,250
Equity
€367,955
2024 · €528,298-€160,343
Cash
€12,289
2024 · €27,595-€15,306
Balance sheet total
€2.6m
2024 · €2.9m-€346,463
Largest movements
Assets
- Financial fixed assets -€240,000
down €240,000 (-93.0%), from €258,144 to €18,144
- Tangible fixed assets -€83,228
down €83,228 (-3.5%), from €2.4m to €2.3m
of which Land and buildings: -€63,327
Equity and liabilities
- Other debts +€383,951
up €383,951 (+103.1%), from €372,386 to €756,337
- Tax, wage and social debts -€276,842
down €276,842 (-79.8%), from €346,902 to €70,060
- Debts after one year -€186,160
down €186,160 (-13.8%), from €1.3m to €1.2m
of which Financial debts: -€226,160
- Profit (loss) carried forward -€159,048
down €159,048, from €125,925 to -€33,123
- Current portion of long-term debt -€89,487
down €89,487 (-62.3%), from €143,644 to €54,157
Income statement
- Financial income +€244,990
up €244,990 (+14803.0%), from €1,655 to €246,645
- Financial charges +€73,477
up €73,477 (+244.4%), from €30,066 to €103,543
- Gross operating margin -€44,226
down €44,226 (-28.6%), from -€154,801 to -€199,027
- Depreciation +€16,885
up €16,885 (+24.4%), from €69,243 to €86,128
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.
Result 2024
-€266,593
Gross operating margin
-€44,226
Staff costs
-€1,888
Depreciation
-€16,885
Other operating charges
-€1,682
Financial income
+€244,990
Financial charges
-€73,477
Taxes
-€582
Result 2025
-€160,343
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.
From operations
+€23,241
Investment
+€237,100
Financing
-€275,647
Cash 2024
€27,595
From operations (derived)
+€23,241
Net result for the year
-€160,343
Depreciation
+€86,128
Receivables after one year
-€5,590
Stocks and contracts
+€6,422
Receivables within one year
-€5,234
Deferred charges and accrued income
+€12,331
Provisions
-€432
Trade debts
-€5,473
Tax, wage and social debts
-€276,842
Other debts
+€383,951
Accrued charges and deferred income
-€11,677
Investment (derived)
+€237,100
Investment in fixed assets (net)
+€237,100
Financing
-€275,647
Debts after one year
-€186,160
Current portion of long-term debt
-€89,487
Cash 2025
€12,289
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,897,058 | €2,550,595 | -€346,463 | -12.0% |
| Fixed assets | 21/28 | €2,626,365 | €2,303,137 | -€323,228 | -12.3% |
| Tangible fixed assets | 22/27 | €2,368,221 | €2,284,993 | -€83,228 | -3.5% |
| Land and buildings | 22 | €2,215,066 | €2,151,739 | -€63,327 | -2.9% |
| Plant, machinery and equipment | 23 | €128 | - | -€128 | |
| Furniture and vehicles | 24 | €53,941 | €42,475 | -€11,466 | -21.3% |
| Other tangible fixed assets | 26 | €99,086 | €90,779 | -€8,307 | -8.4% |
| Financial fixed assets | 28 | €258,144 | €18,144 | -€240,000 | -93.0% |
| Current assets | 29/58 | €270,693 | €247,458 | -€23,235 | -8.6% |
| Amounts receivable after more than one year | 29 | €126,677 | €132,267 | +€5,590 | +4.4% |
| Other amounts receivable | 291 | €126,677 | €132,267 | +€5,590 | +4.4% |
| Stocks and contracts in progress | 3 | €7,842 | €1,420 | -€6,422 | -81.9% |
| Stocks | 30/36 | €7,842 | €1,420 | -€6,422 | -81.9% |
| Amounts receivable within one year | 40/41 | €62,759 | €67,993 | +€5,234 | +8.3% |
| Trade receivables | 40 | €20,496 | €20,496 | = | 0.0% |
| Other amounts receivable | 41 | €42,263 | €47,497 | +€5,234 | +12.4% |
| Cash at bank and in hand | 54/58 | €27,595 | €12,289 | -€15,306 | -55.5% |
| Deferred charges and accrued income | 490/1 | €45,820 | €33,489 | -€12,331 | -26.9% |
| Total equity and liabilities | 10/49 | €2,897,058 | €2,550,595 | -€346,463 | -12.0% |
| Equity | 10/15 | €528,298 | €367,955 | -€160,343 | -30.4% |
| Contributions | 10/11 | €68,171 | €68,171 | = | 0.0% |
| Reserves | 13 | €334,202 | €332,907 | -€1,295 | -0.4% |
| Non-distributable reserves | 130/1 | €6,817 | €6,817 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,817 | €6,817 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,516 | €1,221 | -€1,295 | -51.5% |
| Distributable reserves | 133 | €324,869 | €324,869 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,925 | -€33,123 | -€159,048 | |
| Provisions and deferred taxes | 16 | €767 | €335 | -€432 | -56.3% |
| Deferred taxes | 168 | €767 | €335 | -€432 | -56.3% |
| Amounts payable | 17/49 | €2,367,993 | €2,182,305 | -€185,688 | -7.8% |
| Amounts payable after more than one year | 17 | €1,344,262 | €1,158,102 | -€186,160 | -13.8% |
| Financial debts | 170/4 | €1,209,262 | €983,102 | -€226,160 | -18.7% |
| Advances received on contracts in progress | 176 | €135,000 | €175,000 | +€40,000 | +29.6% |
| Amounts payable within one year | 42/48 | €872,555 | €884,704 | +€12,149 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €143,644 | €54,157 | -€89,487 | -62.3% |
| Trade debts | 44 | €9,623 | €4,150 | -€5,473 | -56.9% |
| Suppliers | 440/4 | €9,623 | €4,150 | -€5,473 | -56.9% |
| Taxes, remuneration and social security | 45 | €346,902 | €70,060 | -€276,842 | -79.8% |
| Taxes | 450/3 | €346,902 | €70,060 | -€276,842 | -79.8% |
| Other amounts payable | 47/48 | €372,386 | €756,337 | +€383,951 | +103.1% |
| Accrued charges and deferred income | 492/3 | €151,176 | €139,499 | -€11,677 | -7.7% |
| Remuneration, social security and pensions | 62 | - | €1,888 | +€1,888 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,243 | €86,128 | +€16,885 | +24.4% |
| Other operating charges | 640/8 | €15,011 | €16,693 | +€1,682 | +11.2% |
| Gross operating margin | 9900 | -€154,801 | -€199,027 | -€44,226 | -28.6% |
| Operating profit (loss) | 9901 | -€239,055 | -€303,736 | -€64,681 | -27.1% |
| Financial income | 75/76B | €1,655 | €246,645 | +€244,990 | +14803.0% |
| Recurring financial income | 75 | €1,655 | €246,645 | +€244,990 | +14803.0% |
| Financial charges | 65/66B | €30,066 | €103,543 | +€73,477 | +244.4% |
| Recurring financial charges | 65 | €30,066 | €103,543 | +€73,477 | +244.4% |
| Profit (loss) for the period before taxes | 9903 | -€267,466 | -€160,634 | +€106,832 | +39.9% |
| Transfer from deferred taxes | 780 | €432 | €432 | = | 0.0% |
| Income taxes | 67/77 | -€441 | €141 | +€582 | |
| Profit (loss) for the period | 9904 | -€266,593 | -€160,343 | +€106,250 | +39.9% |
| Transfer from tax-exempt reserves | 789 | €1,295 | €1,295 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€265,298 | -€159,048 | +€106,250 | +40.0% |
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 7 October 2026 via checked.be.