CAMPAGNOLI: 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.
CAMPAGNOLI
Largest movements
- Tangible fixed assets -€10,141
down €10,141 (-42.3%), from €23,994 to €13,853
of which Plant, machinery and equipment: -€6,524
- Receivables within one year -€9,066
down €9,066 (-49.8%), from €18,194 to €9,128
of which Trade receivables: -€9,167
- Cash +€4,801
up €4,801 (+40.1%), from €11,982 to €16,783
mainly Contributions, distributions and other (+€45,000) and Depreciation (+€14,141)
- Intangible fixed assets -€4,000
no longer reported in 2025 (was €4,000)
- Deferred charges and accrued income -€1,093
no longer reported in 2025 (was €1,093)
- Trade debts -€14,223
down €14,223 (-31.7%), from €44,927 to €30,704
- Other debts -€10,924
down €10,924 (-17.2%), from €63,410 to €52,486
- Tax, wage and social debts +€7,380
up €7,380 (+43.5%), from €16,969 to €24,349
of which Remuneration and social security: +€5,883
- Debts after one year -€5,947
down €5,947 (-62.1%), from €9,571 to €3,623
- Profit (loss) carried forward +€2,210
up €2,210 (+2.3%), from -€96,948 to -€94,739
- Staff costs +€43,733
up €43,733 (+19.2%), from €227,318 to €271,052
- Gross operating margin +€36,423
up €36,423 (+17.2%), from €212,127 to €248,550
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 | €67,253 | €47,533 | -€19,719 | -29.3% |
| Fixed assets | 21/28 | €27,994 | €13,853 | -€14,141 | -50.5% |
| Intangible fixed assets | 21 | €4,000 | - | -€4,000 | |
| Tangible fixed assets | 22/27 | €23,994 | €13,853 | -€10,141 | -42.3% |
| Land and buildings | 22 | €193 | - | -€193 | |
| Plant, machinery and equipment | 23 | €18,648 | €12,124 | -€6,524 | -35.0% |
| Furniture and vehicles | 24 | €2,000 | €737 | -€1,262 | -63.1% |
| Other tangible fixed assets | 26 | €3,152 | €991 | -€2,161 | -68.6% |
| Current assets | 29/58 | €39,259 | €33,681 | -€5,578 | -14.2% |
| Stocks and contracts in progress | 3 | €7,990 | €7,770 | -€220 | -2.8% |
| Stocks | 30/36 | €7,990 | €7,770 | -€220 | -2.8% |
| Amounts receivable within one year | 40/41 | €18,194 | €9,128 | -€9,066 | -49.8% |
| Trade receivables | 40 | €17,229 | €8,062 | -€9,167 | -53.2% |
| Other amounts receivable | 41 | €965 | €1,066 | +€101 | +10.4% |
| Cash at bank and in hand | 54/58 | €11,982 | €16,783 | +€4,801 | +40.1% |
| Deferred charges and accrued income | 490/1 | €1,093 | - | -€1,093 | |
| Total equity and liabilities | 10/49 | €67,253 | €47,533 | -€19,719 | -29.3% |
| Equity | 10/15 | -€76,488 | -€74,279 | +€2,210 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,948 | -€94,739 | +€2,210 | +2.3% |
| Amounts payable | 17/49 | €143,741 | €121,812 | -€21,929 | -15.3% |
| Amounts payable after more than one year | 17 | €9,571 | €3,623 | -€5,947 | -62.1% |
| Financial debts | 170/4 | €9,571 | €3,623 | -€5,947 | -62.1% |
| Amounts payable within one year | 42/48 | €134,170 | €118,189 | -€15,982 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €8,864 | €10,650 | +€1,785 | +20.1% |
| Trade debts | 44 | €44,927 | €30,704 | -€14,223 | -31.7% |
| Suppliers | 440/4 | €44,927 | €30,704 | -€14,223 | -31.7% |
| Taxes, remuneration and social security | 45 | €16,969 | €24,349 | +€7,380 | +43.5% |
| Taxes | 450/3 | €8,769 | €10,266 | +€1,497 | +17.1% |
| Remuneration and social security | 454/9 | €8,200 | €14,083 | +€5,883 | +71.7% |
| Other amounts payable | 47/48 | €63,410 | €52,486 | -€10,924 | -17.2% |
| Remuneration, social security and pensions | 62 | €227,318 | €271,052 | +€43,733 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,861 | €14,141 | -€720 | -4.8% |
| Other operating charges | 640/8 | €4,046 | €1,891 | -€2,155 | -53.3% |
| Gross operating margin | 9900 | €212,127 | €248,550 | +€36,423 | +17.2% |
| Operating profit (loss) | 9901 | -€34,098 | -€38,533 | -€4,435 | -13.0% |
| Financial income | 75/76B | €7 | €0 | -€7 | -99.5% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -99.5% |
| Financial charges | 65/66B | €4,393 | €4,258 | -€136 | -3.1% |
| Recurring financial charges | 65 | €4,393 | €4,258 | -€136 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€38,484 | -€42,790 | -€4,307 | -11.2% |
| Profit (loss) for the period | 9904 | -€38,484 | -€42,790 | -€4,307 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,484 | -€42,790 | -€4,307 | -11.2% |
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 16 October 2026 via checked.be.