CAMERA WORK: 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.
CAMERA WORK
Largest movements
- Tangible fixed assets -€48,941
down €48,941 (-2.6%), from €1.9m to €1.8m
of which Land and buildings: -€66,778
- Cash +€43,188
up €43,188 (+38.9%), from €110,975 to €154,163
mainly Net result for the year (+€110,061) and Depreciation (+€78,020)
- Debts after one year -€131,805
down €131,805 (-11.2%), from €1.2m to €1.0m
of which Other amounts payable: -€80,550
- Reserves +€110,061
up €110,061 (+20.6%), from €534,773 to €644,834
of which Distributable reserves: +€110,061
- Other debts +€23,206
up €23,206 (+31.3%), from €74,161 to €97,367
- Gross operating margin -€11,110
down €11,110 (-3.8%), from €290,747 to €279,636
- Depreciation +€4,152
up €4,152 (+5.6%), from €73,868 to €78,020
- Taxes -€3,353
down €3,353 (-5.9%), from €56,906 to €53,553
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 | €1,975,419 | €1,976,861 | +€1,442 | +0.1% |
| Fixed assets | 21/28 | €1,856,316 | €1,810,140 | -€46,175 | -2.5% |
| Intangible fixed assets | 21 | - | €2,766 | +€2,766 | |
| Tangible fixed assets | 22/27 | €1,853,502 | €1,804,561 | -€48,941 | -2.6% |
| Land and buildings | 22 | €1,831,444 | €1,764,666 | -€66,778 | -3.6% |
| Plant, machinery and equipment | 23 | €3,447 | €3,615 | +€169 | +4.9% |
| Furniture and vehicles | 24 | €10,611 | €16,157 | +€5,546 | +52.3% |
| Other tangible fixed assets | 26 | €8,000 | €20,123 | +€12,123 | +151.5% |
| Financial fixed assets | 28 | €2,814 | €2,814 | = | 0.0% |
| Current assets | 29/58 | €119,103 | €166,721 | +€47,617 | +40.0% |
| Stocks and contracts in progress | 3 | - | €6,379 | +€6,379 | |
| Stocks | 30/36 | - | €6,379 | +€6,379 | |
| Amounts receivable within one year | 40/41 | €4,528 | €3,022 | -€1,505 | -33.2% |
| Trade receivables | 40 | €4,500 | €1,125 | -€3,375 | -75.0% |
| Other amounts receivable | 41 | €28 | €1,897 | +€1,870 | +6766.8% |
| Cash at bank and in hand | 54/58 | €110,975 | €154,163 | +€43,188 | +38.9% |
| Deferred charges and accrued income | 490/1 | €3,601 | €3,156 | -€445 | -12.3% |
| Total equity and liabilities | 10/49 | €1,975,419 | €1,976,861 | +€1,442 | +0.1% |
| Equity | 10/15 | €596,773 | €706,834 | +€110,061 | +18.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €534,773 | €644,834 | +€110,061 | +20.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €528,573 | €638,634 | +€110,061 | +20.8% |
| Amounts payable | 17/49 | €1,378,646 | €1,270,027 | -€108,619 | -7.9% |
| Amounts payable after more than one year | 17 | €1,175,238 | €1,043,433 | -€131,805 | -11.2% |
| Financial debts | 170/4 | €314,488 | €263,233 | -€51,255 | -16.3% |
| Other amounts payable | 178/9 | €860,750 | €780,200 | -€80,550 | -9.4% |
| Amounts payable within one year | 42/48 | €203,407 | €223,617 | +€20,210 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €60,021 | €51,255 | -€8,766 | -14.6% |
| Financial debts | 43 | €10,307 | €17,603 | +€7,296 | +70.8% |
| Credit institutions | 430/8 | €10,307 | €17,603 | +€7,296 | +70.8% |
| Trade debts | 44 | €29,911 | €31,522 | +€1,611 | +5.4% |
| Suppliers | 440/4 | €29,911 | €31,522 | +€1,611 | +5.4% |
| Taxes, remuneration and social security | 45 | €29,007 | €25,870 | -€3,137 | -10.8% |
| Taxes | 450/3 | €29,007 | €25,870 | -€3,137 | -10.8% |
| Other amounts payable | 47/48 | €74,161 | €97,367 | +€23,206 | +31.3% |
| Accrued charges and deferred income | 492/3 | - | €2,977 | +€2,977 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,868 | €78,020 | +€4,152 | +5.6% |
| Other operating charges | 640/8 | €29,929 | €27,922 | -€2,008 | -6.7% |
| Gross operating margin | 9900 | €290,747 | €279,636 | -€11,110 | -3.8% |
| Operating profit (loss) | 9901 | €186,949 | €173,694 | -€13,255 | -7.1% |
| Financial income | 75/76B | €636 | €4 | -€631 | -99.3% |
| Recurring financial income | 75 | €636 | €4 | -€631 | -99.3% |
| Financial charges | 65/66B | €11,595 | €10,085 | -€1,510 | -13.0% |
| Recurring financial charges | 65 | €11,595 | €10,085 | -€1,510 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €175,990 | €163,614 | -€12,376 | -7.0% |
| Income taxes | 67/77 | €56,906 | €53,553 | -€3,353 | -5.9% |
| Profit (loss) for the period | 9904 | €119,084 | €110,061 | -€9,023 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €119,084 | €110,061 | -€9,023 | -7.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.