CAMERA SAYS NO: what changed
Two financial 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.
CAMERA SAYS NO
Largest movements
- Tangible fixed assets -€8,085
down €8,085 (-62.2%), from €12,991 to €4,906
of which Furniture and vehicles: -€6,030
- Profit (loss) carried forward -€12,720
down €12,720 (-42.7%), from -€29,763 to -€42,483
- Other debts +€10,654
up €10,654 (+77.3%), from €13,784 to €24,438
- Tax, wage and social debts -€3,115
down €3,115 (-53.9%), from €5,775 to €2,659
- Current portion of long-term debt -€2,399
no longer reported in 2025 (was €2,399)
- Trade debts -€1,073
down €1,073 (-95.1%), from €1,129 to €56
- Gross operating margin +€15,876
up €15,876 (+93.8%), from -€16,925 to -€1,049
- Depreciation -€449
down €449 (-5.3%), from €8,534 to €8,085
- Other operating charges -€403
down €403 (-10.6%), from €3,803 to €3,400
- Taxes -€362
down €362, from €184 to -€177
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.
Derived cash bridge
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 | €86,704 | €78,051 | -€8,653 | -10.0% |
| Fixed assets | 21/28 | €12,991 | €4,906 | -€8,085 | -62.2% |
| Tangible fixed assets | 22/27 | €12,991 | €4,906 | -€8,085 | -62.2% |
| Plant, machinery and equipment | 23 | €2,698 | €644 | -€2,055 | -76.1% |
| Furniture and vehicles | 24 | €10,292 | €4,262 | -€6,030 | -58.6% |
| Current assets | 29/58 | €73,714 | €73,145 | -€568 | -0.8% |
| Amounts receivable within one year | 40/41 | €4,820 | €4,816 | -€5 | -0.1% |
| Other amounts receivable | 41 | €4,820 | €4,816 | -€5 | -0.1% |
| Cash at bank and in hand | 54/58 | €68,596 | €68,027 | -€570 | -0.8% |
| Deferred charges and accrued income | 490/1 | €297 | €303 | +€6 | +2.0% |
| Total equity and liabilities | 10/49 | €86,704 | €78,051 | -€8,653 | -10.0% |
| Equity | 10/15 | €63,618 | €50,898 | -€12,720 | -20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €87,181 | €87,181 | = | 0.0% |
| Non-distributable reserves | 130/1 | €81,600 | €81,600 | = | 0.0% |
| Other | 1319 | €81,600 | €81,600 | = | 0.0% |
| Distributable reserves | 133 | €5,581 | €5,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,763 | -€42,483 | -€12,720 | -42.7% |
| Amounts payable | 17/49 | €23,086 | €27,153 | +€4,067 | +17.6% |
| Amounts payable within one year | 42/48 | €23,086 | €27,153 | +€4,067 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €2,399 | - | -€2,399 | |
| Trade debts | 44 | €1,129 | €56 | -€1,073 | -95.1% |
| Suppliers | 440/4 | €1,129 | €56 | -€1,073 | -95.1% |
| Taxes, remuneration and social security | 45 | €5,775 | €2,659 | -€3,115 | -53.9% |
| Taxes | 450/3 | €5,775 | €2,659 | -€3,115 | -53.9% |
| Other amounts payable | 47/48 | €13,784 | €24,438 | +€10,654 | +77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,534 | €8,085 | -€449 | -5.3% |
| Other operating charges | 640/8 | €3,803 | €3,400 | -€403 | -10.6% |
| Gross operating margin | 9900 | -€16,925 | -€1,049 | +€15,876 | +93.8% |
| Operating profit (loss) | 9901 | -€29,262 | -€12,534 | +€16,728 | +57.2% |
| Financial charges | 65/66B | €317 | €363 | +€47 | +14.8% |
| Recurring financial charges | 65 | €317 | €363 | +€47 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | -€29,578 | -€12,897 | +€16,681 | +56.4% |
| Income taxes | 67/77 | €184 | -€177 | -€362 | |
| Profit (loss) for the period | 9904 | -€29,763 | -€12,720 | +€17,043 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,763 | -€12,720 | +€17,043 | +57.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.