CAMERAAD: 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.
CAMERAAD
Largest movements
- Tangible fixed assets -€41,137
down €41,137 (-33.2%), from €123,878 to €82,742
of which Furniture and vehicles: -€20,685
- Receivables within one year -€38,567
down €38,567 (-98.0%), from €39,364 to €797
of which Other amounts receivable: -€38,158
- Cash -€18,556
down €18,556 (-40.1%), from €46,310 to €27,753
mainly Net result for the year (-€48,373) and Contributions, distributions and other (-€46,140)
- Profit (loss) carried forward -€48,373
down €48,373 (-162.6%), from -€29,748 to -€78,121
- Reserves -€46,140
down €46,140 (-26.0%), from €177,144 to €131,004
of which Distributable reserves: -€46,140
- Other debts +€24,153
new in 2025: €24,153
- Debts after one year -€14,208
down €14,208 (-56.6%), from €25,093 to €10,885
- Current portion of long-term debt -€7,792
down €7,792 (-35.4%), from €22,000 to €14,208
- Gross operating margin +€7,137
up €7,137 (+69.4%), from -€10,279 to -€3,142
- Depreciation -€2,259
down €2,259 (-5.2%), from €43,396 to €41,137
- Other operating charges -€1,338
down €1,338 (-37.3%), from €3,585 to €2,247
- Financial income -€1,039
no longer reported in 2025 (was €1,039)
- Taxes -€788
down €788 (-72.5%), from €1,087 to €299
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 | €209,566 | €111,715 | -€97,851 | -46.7% |
| Fixed assets | 21/28 | €123,878 | €82,742 | -€41,137 | -33.2% |
| Tangible fixed assets | 22/27 | €123,878 | €82,742 | -€41,137 | -33.2% |
| Plant, machinery and equipment | 23 | €58,606 | €38,154 | -€20,452 | -34.9% |
| Furniture and vehicles | 24 | €65,273 | €44,588 | -€20,685 | -31.7% |
| Current assets | 29/58 | €85,687 | €28,973 | -€56,714 | -66.2% |
| Amounts receivable within one year | 40/41 | €39,364 | €797 | -€38,567 | -98.0% |
| Trade receivables | 40 | €409 | - | -€409 | |
| Other amounts receivable | 41 | €38,955 | €797 | -€38,158 | -98.0% |
| Cash at bank and in hand | 54/58 | €46,310 | €27,753 | -€18,556 | -40.1% |
| Deferred charges and accrued income | 490/1 | €14 | €423 | +€409 | +2976.7% |
| Total equity and liabilities | 10/49 | €209,566 | €111,715 | -€97,851 | -46.7% |
| Equity | 10/15 | €153,596 | €59,083 | -€94,513 | -61.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €177,144 | €131,004 | -€46,140 | -26.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €175,284 | €129,144 | -€46,140 | -26.3% |
| Profit (loss) carried forward | 14 | -€29,748 | -€78,121 | -€48,373 | -162.6% |
| Amounts payable | 17/49 | €55,970 | €52,632 | -€3,338 | -6.0% |
| Amounts payable after more than one year | 17 | €25,093 | €10,885 | -€14,208 | -56.6% |
| Financial debts | 170/4 | €25,093 | €10,885 | -€14,208 | -56.6% |
| Amounts payable within one year | 42/48 | €30,877 | €41,747 | +€10,870 | +35.2% |
| Current portion of amounts payable after more than one year | 42 | €22,000 | €14,208 | -€7,792 | -35.4% |
| Trade debts | 44 | €204 | €780 | +€576 | +283.2% |
| Suppliers | 440/4 | €204 | €780 | +€576 | +283.2% |
| Taxes, remuneration and social security | 45 | €8,674 | €2,606 | -€6,068 | -70.0% |
| Taxes | 450/3 | €8,674 | €2,606 | -€6,068 | -70.0% |
| Other amounts payable | 47/48 | - | €24,153 | +€24,153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,396 | €41,137 | -€2,259 | -5.2% |
| Other operating charges | 640/8 | €3,585 | €2,247 | -€1,338 | -37.3% |
| Gross operating margin | 9900 | -€10,279 | -€3,142 | +€7,137 | +69.4% |
| Operating profit (loss) | 9901 | -€57,259 | -€46,526 | +€10,734 | +18.7% |
| Financial income | 75/76B | €1,039 | - | -€1,039 | |
| Recurring financial income | 75 | €1,039 | - | -€1,039 | |
| Financial charges | 65/66B | €2,143 | €1,548 | -€595 | -27.8% |
| Recurring financial charges | 65 | €2,143 | €1,548 | -€595 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | -€58,363 | -€48,073 | +€10,290 | +17.6% |
| Income taxes | 67/77 | €1,087 | €299 | -€788 | -72.5% |
| Profit (loss) for the period | 9904 | -€59,450 | -€48,373 | +€11,078 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,450 | -€48,373 | +€11,078 | +18.6% |
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 11 October 2026 via checked.be.