CAMMAERTS BIKES: 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.
What changed
CAMMAERTS BIKES
NACE 46.495, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€81,922
2024 · €45,910+€36,012
Equity
€503,825
2024 · €421,904+€81,921
Cash
€15,133
2024 · €14,272+€861
Balance sheet total
€1.9m
2024 · €2.2m-€232,855
Largest movements
Assets
- Stocks and contracts -€132,792
down €132,792 (-23.9%), from €555,243 to €422,451
- Tangible fixed assets -€67,761
down €67,761 (-4.8%), from €1.4m to €1.3m
of which Land and buildings: -€63,044
- Receivables within one year -€32,187
down €32,187 (-57.8%), from €55,674 to €23,487
of which Trade receivables: -€37,422
Equity and liabilities
- Short-term financial debts -€225,000
no longer reported in 2025 (was €225,000)
- Reserves +€80,000
up €80,000 (+21.2%), from €376,731 to €456,731
- Debts after one year -€59,154
down €59,154 (-5.8%), from €1.0m to €964,355
Income statement
- Gross operating margin +€45,343
up €45,343 (+18.9%), from €240,063 to €285,406
- Taxes +€19,173
new in 2025: €19,173
- Financial charges -€4,622
down €4,622 (-8.2%), from €56,618 to €51,996
- Depreciation -€3,046
down €3,046 (-4.0%), from €76,599 to €73,553
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.
Result 2024
€45,910
Gross operating margin
+€45,343
Staff costs
+€662
Depreciation
+€3,046
Other operating charges
+€515
Financial income
+€997
Financial charges
+€4,622
Taxes
-€19,173
Result 2025
€81,922
raises the resultlowers the result
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.
From operations
+€285,593
Investment
-€4,784
Financing
-€279,948
Cash 2024
€14,272
From operations (derived)
+€285,593
Net result for the year
+€81,922
Depreciation
+€73,553
Stocks and contracts
+€132,792
Receivables within one year
+€32,187
Deferred charges and accrued income
-€33
Trade debts
-€15,597
Tax, wage and social debts
-€4,131
Advances received
-€1,389
Other debts
-€13,712
Investment (derived)
-€4,784
Investment in fixed assets (net)
-€5,141
Current investments
+€358
Financing
-€279,948
Debts after one year
-€59,154
Current portion of long-term debt
+€4,206
Short-term financial debts
-€225,000
Contributions, distributions and other
-€1
Cash 2025
€15,133
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,157,743 | €1,924,888 | -€232,855 | -10.8% |
| Fixed assets | 21/28 | €1,409,908 | €1,341,496 | -€68,412 | -4.9% |
| Intangible fixed assets | 21 | €651 | - | -€651 | |
| Tangible fixed assets | 22/27 | €1,408,946 | €1,341,185 | -€67,761 | -4.8% |
| Land and buildings | 22 | €1,352,511 | €1,289,467 | -€63,044 | -4.7% |
| Plant, machinery and equipment | 23 | €3,550 | €2,321 | -€1,229 | -34.6% |
| Furniture and vehicles | 24 | €2,586 | €2,830 | +€244 | +9.4% |
| Other tangible fixed assets | 26 | €50,299 | €46,567 | -€3,732 | -7.4% |
| Financial fixed assets | 28 | €311 | €311 | +€0 | 0.0% |
| Current assets | 29/58 | €747,835 | €583,392 | -€164,443 | -22.0% |
| Stocks and contracts in progress | 3 | €555,243 | €422,451 | -€132,792 | -23.9% |
| Stocks | 30/36 | €555,243 | €422,451 | -€132,792 | -23.9% |
| Amounts receivable within one year | 40/41 | €55,674 | €23,487 | -€32,187 | -57.8% |
| Trade receivables | 40 | €51,606 | €14,184 | -€37,422 | -72.5% |
| Other amounts receivable | 41 | €4,068 | €9,303 | +€5,235 | +129% |
| Current investments | 50/53 | €120,838 | €120,480 | -€358 | -0.3% |
| Cash at bank and in hand | 54/58 | €14,272 | €15,133 | +€861 | +6.0% |
| Deferred charges and accrued income | 490/1 | €1,808 | €1,841 | +€33 | +1.8% |
| Total equity and liabilities | 10/49 | €2,157,743 | €1,924,888 | -€232,855 | -10.8% |
| Equity | 10/15 | €421,904 | €503,825 | +€81,921 | +19.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €376,731 | €456,731 | +€80,000 | +21.2% |
| Distributable reserves | 133 | €376,731 | €456,731 | +€80,000 | +21.2% |
| Profit (loss) carried forward | 14 | €173 | €2,095 | +€1,922 | +1,111% |
| Amounts payable | 17/49 | €1,735,839 | €1,421,063 | -€314,776 | -18.1% |
| Amounts payable after more than one year | 17 | €1,023,509 | €964,355 | -€59,154 | -5.8% |
| Financial debts | 170/4 | €1,023,509 | €964,355 | -€59,154 | -5.8% |
| Amounts payable within one year | 42/48 | €712,330 | €456,708 | -€255,622 | -35.9% |
| Current portion of amounts payable after more than one year | 42 | €68,156 | €72,362 | +€4,206 | +6.2% |
| Financial debts | 43 | €225,000 | - | -€225,000 | |
| Credit institutions | 430/8 | €225,000 | - | -€225,000 | |
| Trade debts | 44 | €171,184 | €155,587 | -€15,597 | -9.1% |
| Suppliers | 440/4 | €171,184 | €155,587 | -€15,597 | -9.1% |
| Advances received on contracts in progress | 46 | €5,030 | €3,641 | -€1,389 | -27.6% |
| Taxes, remuneration and social security | 45 | €10,178 | €6,047 | -€4,131 | -40.6% |
| Taxes | 450/3 | €5,969 | €2,654 | -€3,315 | -55.5% |
| Remuneration and social security | 454/9 | €4,209 | €3,393 | -€816 | -19.4% |
| Other amounts payable | 47/48 | €232,782 | €219,070 | -€13,712 | -5.9% |
| Remuneration, social security and pensions | 62 | €53,004 | €52,342 | -€662 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,599 | €73,553 | -€3,046 | -4.0% |
| Other operating charges | 640/8 | €10,112 | €9,597 | -€515 | -5.1% |
| Gross operating margin | 9900 | €240,063 | €285,406 | +€45,343 | +18.9% |
| Operating profit (loss) | 9901 | €100,348 | €149,914 | +€49,566 | +49.4% |
| Financial income | 75/76B | €2,180 | €3,177 | +€997 | +45.7% |
| Recurring financial income | 75 | €2,180 | €3,177 | +€997 | +45.7% |
| Financial charges | 65/66B | €56,618 | €51,996 | -€4,622 | -8.2% |
| Recurring financial charges | 65 | €56,618 | €51,996 | -€4,622 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €45,910 | €101,095 | +€55,185 | +120% |
| Income taxes | 67/77 | - | €19,173 | +€19,173 | |
| Profit (loss) for the period | 9904 | €45,910 | €81,922 | +€36,012 | +78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,910 | €81,922 | +€36,012 | +78.4% |
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 29 October 2026 via checked.be.