Camp Borealis: 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.
Camp Borealis
Largest movements
- Tangible fixed assets -€16,574
down €16,574 (-31.5%), from €52,693 to €36,119
of which Furniture and vehicles: -€13,818
- Cash -€8,329
down €8,329 (-88.4%), from €9,418 to €1,089
mainly Debts after one year (-€14,171) and Net result for the year (-€9,557)
- Stocks and contracts +€4,164
new in 2025: €4,164
- Deferred charges and accrued income -€1,076
down €1,076 (-23.2%), from €4,642 to €3,566
- Debts after one year -€14,171
down €14,171 (-69.5%), from €20,405 to €6,233
- Reserves -€9,557
down €9,557 (-19.0%), from €50,309 to €40,752
- Tax, wage and social debts +€2,201
up €2,201 (+53.2%), from €4,136 to €6,337
of which Remuneration and social security: +€2,000
- Gross operating margin -€21,054
down €21,054 (-67.8%), from €31,069 to €10,014
- Taxes -€1,923
down €1,923 (-100%), from €1,923 to €0
- Other operating charges -€1,402
down €1,402 (-45.1%), from €3,108 to €1,706
- Financial charges -€774
down €774 (-37.3%), from €2,073 to €1,299
- Depreciation -€593
down €593 (-3.5%), from €17,167 to €16,574
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 | €94,453 | €72,951 | -€21,502 | -22.8% |
| Fixed assets | 21/28 | €52,693 | €36,119 | -€16,574 | -31.5% |
| Tangible fixed assets | 22/27 | €52,693 | €36,119 | -€16,574 | -31.5% |
| Plant, machinery and equipment | 23 | €8,201 | €5,446 | -€2,755 | -33.6% |
| Furniture and vehicles | 24 | €44,492 | €30,673 | -€13,818 | -31.1% |
| Current assets | 29/58 | €41,760 | €36,831 | -€4,929 | -11.8% |
| Stocks and contracts in progress | 3 | - | €4,164 | +€4,164 | |
| Stocks | 30/36 | - | €4,164 | +€4,164 | |
| Amounts receivable within one year | 40/41 | €27,699 | €28,012 | +€313 | +1.1% |
| Trade receivables | 40 | €27,561 | €25,694 | -€1,868 | -6.8% |
| Other amounts receivable | 41 | €138 | €2,318 | +€2,180 | +1,581% |
| Cash at bank and in hand | 54/58 | €9,418 | €1,089 | -€8,329 | -88.4% |
| Deferred charges and accrued income | 490/1 | €4,642 | €3,566 | -€1,076 | -23.2% |
| Total equity and liabilities | 10/49 | €94,453 | €72,951 | -€21,502 | -22.8% |
| Equity | 10/15 | €50,409 | €40,852 | -€9,557 | -19.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €50,309 | €40,752 | -€9,557 | -19.0% |
| Distributable reserves | 133 | €50,309 | €40,752 | -€9,557 | -19.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €44,044 | €32,099 | -€11,946 | -27.1% |
| Amounts payable after more than one year | 17 | €20,405 | €6,233 | -€14,171 | -69.5% |
| Financial debts | 170/4 | €20,405 | €6,233 | -€14,171 | -69.5% |
| Amounts payable within one year | 42/48 | €23,639 | €25,865 | +€2,226 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €13,560 | €14,171 | +€611 | +4.5% |
| Trade debts | 44 | €5,109 | €4,420 | -€689 | -13.5% |
| Suppliers | 440/4 | €5,109 | €4,420 | -€689 | -13.5% |
| Taxes, remuneration and social security | 45 | €4,136 | €6,337 | +€2,201 | +53.2% |
| Taxes | 450/3 | €4,136 | €4,337 | +€201 | +4.9% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €834 | €936 | +€102 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,167 | €16,574 | -€593 | -3.5% |
| Other operating charges | 640/8 | €3,108 | €1,706 | -€1,402 | -45.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €31,069 | €10,014 | -€21,054 | -67.8% |
| Operating profit (loss) | 9901 | €10,793 | -€8,266 | -€19,059 | |
| Financial income | 75/76B | €129 | €8 | -€121 | -93.8% |
| Recurring financial income | 75 | €129 | €8 | -€121 | -93.8% |
| Financial charges | 65/66B | €2,073 | €1,299 | -€774 | -37.3% |
| Recurring financial charges | 65 | €2,073 | €1,299 | -€774 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €8,850 | -€9,557 | -€18,406 | |
| Income taxes | 67/77 | €1,923 | €0 | -€1,923 | -100% |
| Profit (loss) for the period | 9904 | €6,927 | -€9,557 | -€16,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,927 | -€9,557 | -€16,483 |
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 17 October 2026 via checked.be.