CAMMEL: 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.
CAMMEL
Largest movements
- Tangible fixed assets -€22,626
down €22,626 (-6.2%), from €365,874 to €343,248
of which Land and buildings: -€17,545
- Deferred charges and accrued income -€20,204
down €20,204 (-99.4%), from €20,331 to €127
- Trade debts -€89,671
down €89,671 (-72.1%), from €124,307 to €34,636
- Other debts +€26,114
up €26,114 (+26.0%), from €100,567 to €126,681
- Current portion of long-term debt +€15,806
up €15,806 (+53.8%), from €29,362 to €45,168
- Debts after one year +€10,591
up €10,591 (+4.1%), from €260,909 to €271,500
of which Financial debts: +€9,991
- Taxes +€9,020
up €9,020, from -€3,993 to €5,027
- Depreciation +€8,018
up €8,018 (+24.3%), from €33,007 to €41,025
- Other operating charges +€3,226
up €3,226 (+35.4%), from €9,100 to €12,326
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €447,068 | €404,408 | -€42,660 | -9.5% |
| Fixed assets | 21/28 | €366,924 | €344,298 | -€22,626 | -6.2% |
| Tangible fixed assets | 22/27 | €365,874 | €343,248 | -€22,626 | -6.2% |
| Land and buildings | 22 | €309,146 | €291,601 | -€17,545 | -5.7% |
| Plant, machinery and equipment | 23 | €2,818 | €10,007 | +€7,189 | +255.1% |
| Furniture and vehicles | 24 | €53,910 | €41,640 | -€12,270 | -22.8% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €80,144 | €60,111 | -€20,034 | -25.0% |
| Amounts receivable within one year | 40/41 | €53,532 | €54,158 | +€626 | +1.2% |
| Trade receivables | 40 | €51,028 | €54,158 | +€3,129 | +6.1% |
| Other amounts receivable | 41 | €2,503 | - | -€2,503 | |
| Cash at bank and in hand | 54/58 | €6,282 | €5,826 | -€456 | -7.3% |
| Deferred charges and accrued income | 490/1 | €20,331 | €127 | -€20,204 | -99.4% |
| Total equity and liabilities | 10/49 | €447,068 | €404,408 | -€42,660 | -9.5% |
| Equity | 10/15 | -€96,512 | -€101,161 | -€4,649 | -4.8% |
| 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% |
| Revaluation surpluses | 12 | €217,099 | €217,099 | = | 0.0% |
| Reserves | 13 | €38,494 | €36,110 | -€2,384 | -6.2% |
| Tax-exempt reserves | 132 | €38,494 | €36,110 | -€2,384 | -6.2% |
| Profit (loss) carried forward | 14 | -€414,105 | -€416,370 | -€2,265 | -0.5% |
| Provisions and deferred taxes | 16 | €22,509 | €21,281 | -€1,228 | -5.5% |
| Deferred taxes | 168 | €22,509 | €21,281 | -€1,228 | -5.5% |
| Amounts payable | 17/49 | €521,071 | €484,288 | -€36,783 | -7.1% |
| Amounts payable after more than one year | 17 | €260,909 | €271,500 | +€10,591 | +4.1% |
| Financial debts | 170/4 | €260,909 | €270,900 | +€9,991 | +3.8% |
| Other amounts payable | 178/9 | - | €600 | +€600 | |
| Amounts payable within one year | 42/48 | €260,162 | €212,788 | -€47,374 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €29,362 | €45,168 | +€15,806 | +53.8% |
| Trade debts | 44 | €124,307 | €34,636 | -€89,671 | -72.1% |
| Suppliers | 440/4 | €124,307 | €34,636 | -€89,671 | -72.1% |
| Taxes, remuneration and social security | 45 | €5,926 | €6,304 | +€378 | +6.4% |
| Taxes | 450/3 | €5,926 | €6,304 | +€378 | +6.4% |
| Other amounts payable | 47/48 | €100,567 | €126,681 | +€26,114 | +26.0% |
| Non-recurring operating income | 76A | €10,065 | - | -€10,065 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,007 | €41,025 | +€8,018 | +24.3% |
| Other operating charges | 640/8 | €9,100 | €12,326 | +€3,226 | +35.4% |
| Gross operating margin | 9900 | €65,205 | €64,725 | -€480 | -0.7% |
| Operating profit (loss) | 9901 | €23,098 | €11,374 | -€11,723 | -50.8% |
| Financial income | 75/76B | €1 | €27 | +€26 | +2610.0% |
| Recurring financial income | 75 | €1 | €27 | +€26 | +2610.0% |
| Financial charges | 65/66B | €11,831 | €12,251 | +€421 | +3.6% |
| Recurring financial charges | 65 | €11,831 | €11,845 | +€14 | +0.1% |
| Non-recurring financial charges | 66B | - | €407 | +€407 | |
| Profit (loss) for the period before taxes | 9903 | €11,268 | -€850 | -€12,118 | |
| Transfer from deferred taxes | 780 | €1,228 | €1,228 | = | 0.0% |
| Income taxes | 67/77 | -€3,993 | €5,027 | +€9,020 | |
| Profit (loss) for the period | 9904 | €16,489 | -€4,649 | -€21,138 | |
| Transfer from tax-exempt reserves | 789 | €2,384 | €2,384 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,873 | -€2,265 | -€21,138 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.