CAMIEL: 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.
CAMIEL
Largest movements
- Current investments -€195,000
no longer reported in 2025 (was €195,000)
- Cash -€166,559
down €166,559 (-97.7%), from €170,471 to €3,912
mainly Trade debts (-€169,266) and Accrued charges and deferred income (-€60,000)
- Receivables within one year +€59,646
up €59,646 (+445%), from €13,396 to €73,043
- Deferred charges and accrued income +€53,677
up €53,677 (+48.6%), from €110,386 to €164,063
- Tangible fixed assets -€17,545
down €17,545 (-33.4%), from €52,453 to €34,909
of which Furniture and vehicles: -€17,441
- Trade debts -€169,266
down €169,266 (-90.4%), from €187,304 to €18,038
- Accrued charges and deferred income -€60,000
no longer reported in 2025 (was €60,000)
- Other debts -€32,803
down €32,803 (-45.9%), from €71,534 to €38,732
- Tax, wage and social debts +€15,809
up €15,809 (+21.5%), from €73,381 to €89,190
of which Remuneration and social security: +€11,238
- Debts after one year -€11,485
no longer reported in 2025 (was €11,485)
- Staff costs +€52,450
up €52,450 (+10.9%), from €481,576 to €534,026
- Gross operating margin +€46,414
up €46,414 (+8.2%), from €562,876 to €609,290
- Financial income +€14,362
up €14,362 (+346%), from €4,154 to €18,516
- Taxes +€9,326
up €9,326 (+58.5%), from €15,949 to €25,275
- Financial charges +€8,329
up €8,329 (+148%), from €5,641 to €13,971
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 | €541,707 | €275,926 | -€265,781 | -49.1% |
| Fixed assets | 21/28 | €52,453 | €34,909 | -€17,545 | -33.4% |
| Tangible fixed assets | 22/27 | €52,453 | €34,909 | -€17,545 | -33.4% |
| Plant, machinery and equipment | 23 | €8,923 | €8,819 | -€103 | -1.2% |
| Furniture and vehicles | 24 | €43,531 | €26,090 | -€17,441 | -40.1% |
| Current assets | 29/58 | €489,253 | €241,017 | -€248,236 | -50.7% |
| Amounts receivable within one year | 40/41 | €13,396 | €73,043 | +€59,646 | +445% |
| Other amounts receivable | 41 | €13,396 | €73,043 | +€59,646 | +445% |
| Current investments | 50/53 | €195,000 | - | -€195,000 | |
| Cash at bank and in hand | 54/58 | €170,471 | €3,912 | -€166,559 | -97.7% |
| Deferred charges and accrued income | 490/1 | €110,386 | €164,063 | +€53,677 | +48.6% |
| Total equity and liabilities | 10/49 | €541,707 | €275,926 | -€265,781 | -49.1% |
| Equity | 10/15 | €117,005 | €118,481 | +€1,476 | +1.3% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €110,705 | €112,181 | +€1,476 | +1.3% |
| Distributable reserves | 133 | €110,705 | €112,181 | +€1,476 | +1.3% |
| Amounts payable | 17/49 | €424,701 | €157,445 | -€267,256 | -62.9% |
| Amounts payable after more than one year | 17 | €11,485 | - | -€11,485 | |
| Financial debts | 170/4 | €11,485 | - | -€11,485 | |
| Amounts payable within one year | 42/48 | €353,216 | €157,445 | -€195,771 | -55.4% |
| Current portion of amounts payable after more than one year | 42 | €20,997 | €11,485 | -€9,511 | -45.3% |
| Trade debts | 44 | €187,304 | €18,038 | -€169,266 | -90.4% |
| Suppliers | 440/4 | €187,304 | €18,038 | -€169,266 | -90.4% |
| Taxes, remuneration and social security | 45 | €73,381 | €89,190 | +€15,809 | +21.5% |
| Taxes | 450/3 | €11,275 | €15,847 | +€4,571 | +40.5% |
| Remuneration and social security | 454/9 | €62,105 | €73,343 | +€11,238 | +18.1% |
| Other amounts payable | 47/48 | €71,534 | €38,732 | -€32,803 | -45.9% |
| Accrued charges and deferred income | 492/3 | €60,000 | - | -€60,000 | |
| Remuneration, social security and pensions | 62 | €481,576 | €534,026 | +€52,450 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,661 | €21,375 | +€1,715 | +8.7% |
| Other operating charges | 640/8 | €674 | €691 | +€16 | +2.4% |
| Gross operating margin | 9900 | €562,876 | €609,290 | +€46,414 | +8.2% |
| Operating profit (loss) | 9901 | €60,965 | €53,198 | -€7,767 | -12.7% |
| Financial income | 75/76B | €4,154 | €18,516 | +€14,362 | +346% |
| Recurring financial income | 75 | €4,154 | €18,516 | +€14,362 | +346% |
| Financial charges | 65/66B | €5,641 | €13,971 | +€8,329 | +148% |
| Recurring financial charges | 65 | €5,641 | €13,971 | +€8,329 | +148% |
| Profit (loss) for the period before taxes | 9903 | €59,477 | €57,743 | -€1,734 | -2.9% |
| Income taxes | 67/77 | €15,949 | €25,275 | +€9,326 | +58.5% |
| Profit (loss) for the period | 9904 | €43,528 | €32,468 | -€11,060 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,528 | €32,468 | -€11,060 | -25.4% |
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 24 October 2026 via checked.be.