CAMMASA: 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.
CAMMASA
Largest movements
- Cash +€72,809
up €72,809 (+33.8%), from €215,340 to €288,149
mainly Net result for the year (+€95,097) and Depreciation (+€71,153)
- Stocks and contracts +€19,530
up €19,530 (+98.9%), from €19,750 to €39,280
- Deferred charges and accrued income +€9,157
up €9,157 (+157%), from €5,814 to €14,971
- Other debts +€61,124
up €61,124 (+1,282%), from €4,768 to €65,892
- Tax, wage and social debts +€51,349
up €51,349 (+172%), from €29,823 to €81,172
of which Remuneration and social security: +€52,962
- Trade debts -€45,497
down €45,497 (-22.7%), from €200,826 to €155,329
- Profit (loss) carried forward +€35,097
up €35,097 (+11.0%), from €320,048 to €355,145
- Debts after one year -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Gross operating margin +€250,672
up €250,672 (+25.7%), from €976,508 to €1.2m
- Provisions +€50,204
new in 2025: €50,204
- Staff costs +€36,106
up €36,106 (+3.8%), from €938,784 to €974,890
- Taxes +€23,095
new in 2025: €23,095
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 | €608,221 | €709,633 | +€101,412 | +16.7% |
| Fixed assets | 21/28 | €285,683 | €282,722 | -€2,961 | -1.0% |
| Tangible fixed assets | 22/27 | €285,683 | €282,722 | -€2,961 | -1.0% |
| Land and buildings | 22 | €203,151 | €198,933 | -€4,218 | -2.1% |
| Plant, machinery and equipment | 23 | €54,090 | €64,410 | +€10,320 | +19.1% |
| Furniture and vehicles | 24 | €28,442 | €19,379 | -€9,063 | -31.9% |
| Current assets | 29/58 | €322,538 | €426,911 | +€104,373 | +32.4% |
| Stocks and contracts in progress | 3 | €19,750 | €39,280 | +€19,530 | +98.9% |
| Stocks | 30/36 | €19,750 | €39,280 | +€19,530 | +98.9% |
| Amounts receivable within one year | 40/41 | €81,631 | €84,508 | +€2,877 | +3.5% |
| Trade receivables | 40 | €5,347 | €15,039 | +€9,692 | +181% |
| Other amounts receivable | 41 | €76,284 | €69,469 | -€6,815 | -8.9% |
| Current investments | 50/53 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €215,340 | €288,149 | +€72,809 | +33.8% |
| Deferred charges and accrued income | 490/1 | €5,814 | €14,971 | +€9,157 | +157% |
| Total equity and liabilities | 10/49 | €608,221 | €709,633 | +€101,412 | +16.7% |
| Equity | 10/15 | €328,108 | €375,605 | +€47,497 | +14.5% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €320,048 | €355,145 | +€35,097 | +11.0% |
| Amounts payable | 17/49 | €280,113 | €334,028 | +€53,915 | +19.2% |
| Amounts payable after more than one year | 17 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Financial debts | 170/4 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Amounts payable within one year | 42/48 | €243,963 | €310,896 | +€66,933 | +27.4% |
| Financial debts | 43 | €8,546 | €8,503 | -€43 | -0.5% |
| Credit institutions | 430/8 | €8,546 | €8,503 | -€43 | -0.5% |
| Trade debts | 44 | €200,826 | €155,329 | -€45,497 | -22.7% |
| Suppliers | 440/4 | €200,826 | €155,329 | -€45,497 | -22.7% |
| Taxes, remuneration and social security | 45 | €29,823 | €81,172 | +€51,349 | +172% |
| Taxes | 450/3 | €8,975 | €7,362 | -€1,613 | -18.0% |
| Remuneration and social security | 454/9 | €20,848 | €73,810 | +€52,962 | +254% |
| Other amounts payable | 47/48 | €4,768 | €65,892 | +€61,124 | +1,282% |
| Accrued charges and deferred income | 492/3 | €6,150 | €8,132 | +€1,982 | +32.2% |
| Non-recurring operating income | 76A | €6,198 | - | -€6,198 | |
| Remuneration, social security and pensions | 62 | €938,784 | €974,890 | +€36,106 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,250 | €71,153 | +€4,903 | +7.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,204 | +€50,204 | |
| Other operating charges | 640/8 | €7,592 | €7,369 | -€223 | -2.9% |
| Gross operating margin | 9900 | €976,508 | €1,227,180 | +€250,672 | +25.7% |
| Operating profit (loss) | 9901 | -€36,118 | €123,564 | +€159,682 | |
| Financial income | 75/76B | €509 | €89 | -€420 | -82.5% |
| Recurring financial income | 75 | €509 | €89 | -€420 | -82.5% |
| Financial charges | 65/66B | €13,400 | €5,461 | -€7,939 | -59.2% |
| Recurring financial charges | 65 | €13,400 | €5,461 | -€7,939 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | -€49,009 | €118,192 | +€167,201 | |
| Income taxes | 67/77 | - | €23,095 | +€23,095 | |
| Profit (loss) for the period | 9904 | -€49,009 | €95,097 | +€144,106 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,009 | €95,097 | +€144,106 |
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 18 October 2026 via checked.be.