Camélo: 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.
Camélo
Largest movements
- Tangible fixed assets +€358,170
up €358,170 (+23.8%), from €1.5m to €1.9m
of which Plant, machinery and equipment: +€389,204
- Stocks and contracts +€221,583
up €221,583 (+21.5%), from €1.0m to €1.3m
- Formation expenses -€220,999
down €220,999 (-25.0%), from €883,997 to €662,998
- Cash -€209,382
down €209,382 (-12.0%), from €1.7m to €1.5m
mainly Other debts (-€3.9m) and Net result for the year (-€802,760)
- Financial fixed assets +€139,833
up €139,833 (+501.2%), from €27,900 to €167,733
- Contributions +€5.0m
up €5.0m (+250.0%), from €2.0m to €7.0m
- Other debts -€3.9m
down €3.9m (-97.9%), from €4.0m to €84,000
- Profit (loss) carried forward -€802,760
down €802,760 (-94.1%), from -€852,985 to -€1.7m
- Purchases and services -€2.2m
no longer reported in 2025 (was €2.2m)
- Staff costs -€241,933
down €241,933 (-40.6%), from €596,117 to €354,184
- Depreciation +€217,545
up €217,545 (+92.9%), from €234,178 to €451,723
- Gross operating margin +€32,573
up €32,573, from -€28,533 to €4,040
- Financial income -€9,050
down €9,050 (-55.6%), from €16,265 to €7,215
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 | €5,248,531 | €5,583,920 | +€335,389 | +6.4% |
| Formation expenses | 20 | €883,997 | €662,998 | -€220,999 | -25.0% |
| Fixed assets | 21/28 | €1,534,964 | €2,032,967 | +€498,003 | +32.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,507,064 | €1,865,234 | +€358,170 | +23.8% |
| Plant, machinery and equipment | 23 | €1,385,966 | €1,775,170 | +€389,204 | +28.1% |
| Furniture and vehicles | 24 | €121,098 | €90,064 | -€31,035 | -25.6% |
| Financial fixed assets | 28 | €27,900 | €167,733 | +€139,833 | +501.2% |
| Current assets | 29/58 | €2,829,569 | €2,887,954 | +€58,385 | +2.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €1,029,444 | €1,251,027 | +€221,583 | +21.5% |
| Stocks | 30/36 | €1,029,444 | €1,251,027 | +€221,583 | +21.5% |
| Amounts receivable within one year | 40/41 | €53,164 | €95,541 | +€42,378 | +79.7% |
| Trade receivables | 40 | €34,556 | €66,180 | +€31,625 | +91.5% |
| Other amounts receivable | 41 | €18,608 | €29,361 | +€10,753 | +57.8% |
| Cash at bank and in hand | 54/58 | €1,746,961 | €1,537,580 | -€209,382 | -12.0% |
| Deferred charges and accrued income | 490/1 | - | €3,806 | +€3,806 | |
| Total equity and liabilities | 10/49 | €5,248,531 | €5,583,920 | +€335,389 | +6.4% |
| Equity | 10/15 | €1,147,015 | €5,344,255 | +€4.2m | +365.9% |
| Contributions | 10/11 | €2,000,000 | €7,000,000 | +€5.0m | +250.0% |
| Capital | 10 | €2,000,000 | €7,000,000 | +€5.0m | +250.0% |
| Issued capital | 100 | €2,000,000 | €7,000,000 | +€5.0m | +250.0% |
| Profit (loss) carried forward | 14 | -€852,985 | -€1,655,745 | -€802,760 | -94.1% |
| Amounts payable | 17/49 | €4,101,516 | €239,665 | -€3.9m | -94.2% |
| Amounts payable within one year | 42/48 | €4,101,516 | €239,665 | -€3.9m | -94.2% |
| Trade debts | 44 | €14,411 | €19,353 | +€4,942 | +34.3% |
| Suppliers | 440/4 | €14,411 | €19,353 | +€4,942 | +34.3% |
| Taxes, remuneration and social security | 45 | €87,105 | €136,312 | +€49,207 | +56.5% |
| Taxes | 450/3 | €87,105 | €34,785 | -€52,320 | -60.1% |
| Remuneration and social security | 454/9 | - | €101,527 | +€101,527 | |
| Other amounts payable | 47/48 | €4,000,000 | €84,000 | -€3.9m | -97.9% |
| Non-recurring operating income | 76A | €86,031 | - | -€86,031 | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,233,222 | - | -€2.2m | |
| Remuneration, social security and pensions | 62 | €596,117 | €354,184 | -€241,933 | -40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €234,178 | €451,723 | +€217,545 | +92.9% |
| Other operating charges | 640/8 | €2,699 | €3,045 | +€347 | +12.8% |
| Gross operating margin | 9900 | -€28,533 | €4,040 | +€32,573 | |
| Operating profit (loss) | 9901 | -€861,526 | -€804,912 | +€56,614 | +6.6% |
| Financial income | 75/76B | €16,265 | €7,215 | -€9,050 | -55.6% |
| Recurring financial income | 75 | €16,265 | €7,215 | -€9,050 | -55.6% |
| Financial charges | 65/66B | €7,724 | €4,888 | -€2,836 | -36.7% |
| Recurring financial charges | 65 | €7,724 | €4,888 | -€2,836 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | -€852,985 | -€802,585 | +€50,400 | +5.9% |
| Income taxes | 67/77 | - | €175 | +€175 | |
| Profit (loss) for the period | 9904 | -€852,985 | -€802,760 | +€50,225 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€852,985 | -€802,760 | +€50,225 | +5.9% |
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 6 October 2026 via checked.be.