CAMPINE: 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
CAMPINE
NACE 24.450, Manufacture of basic metals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€40.4m
2024 · €13.6m+€26.8m
Equity
€58.8m
2024 · €33.5m+€25.3m
Cash
€11.4m
2024 · €85,426+€11.3m
Balance sheet total
€158.2m
2024 · €102.1m+€56.1m
Largest movements
Assets
- Stocks and contracts +€21.3m
up €21.3m (+55.4%), from €38.5m to €59.8m
- Financial fixed assets +€11.4m
up €11.4m (+194%), from €5.9m to €17.3m
- Cash +€11.3m
up €11.3m (+13,271%), from €85,426 to €11.4m
mainly Net result for the year (+€40.4m) and Short-term financial debts (+€18.6m)
- Receivables within one year +€9.8m
up €9.8m (+31.3%), from €31.4m to €41.3m
of which Trade receivables: +€12.6m
Equity and liabilities
- Profit (loss) carried forward +€25.4m
up €25.4m (+115%), from €22.2m to €47.6m
- Short-term financial debts +€18.6m
up €18.6m (+2,015%), from €921,439 to €19.5m
- Trade debts +€18.4m
up €18.4m (+319%), from €5.8m to €24.1m
- Other debts +€16.6m
up €16.6m (+66.5%), from €24.9m to €41.5m
- Advances received -€14.8m
down €14.8m (-94.2%), from €15.7m to €911,521
Income statement
- Turnover +€390.5m
up €390.5m (+200%), from €195.1m to €585.6m
- Goods and materials +€326.0m
up €326.0m (+180%), from €181.1m to €507.1m
of which Purchases: +€356.2m
- Taxes +€9.3m
up €9.3m (+204%), from €4.6m to €13.9m
of which Taxes: +€9.3m
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
€13.6m
Turnover
+€390.5m
Other operating income
+€604,875
Goods and materials
-€326.0m
Services and other goods
-€5.8m
Staff costs
-€933,528
Depreciation
-€111,791
Write-downs
-€158,000
Provisions
-€1.1m
Other operating charges
-€80,377
Other operating items
-€21.0m
Financial income
-€1.7m
Financial charges
+€2.0m
Taxes
-€9.3m
Result 2025
€40.4m
raises the resultlowers the resultnot broken down further in the accounts
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
+€34.0m
Investment
-€17.3m
Financing
-€5.4m
Cash 2024
€85,426
From operations (derived)
+€34.0m
Net result for the year
+€40.4m
Depreciation
+€3.8m
Stocks and contracts
-€21.3m
Receivables within one year
-€9.8m
Smaller working-capital items
-€120,215
Provisions
+€1.1m
Trade debts
+€18.4m
Tax, wage and social debts
-€168,845
Advances received
-€14.8m
Other debts
+€16.6m
Investment (derived)
-€17.3m
Investment in fixed assets (net)
-€17.3m
Financing
-€5.4m
Debts after one year
-€3.0m
Current portion of long-term debt
-€5.8m
Short-term financial debts
+€18.6m
Contributions, distributions and other
-€15.1m
Cash 2025
€11.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €102,116,803 | €158,240,917 | +€56.1m | +55.0% |
| Fixed assets | 21/28 | €31,907,679 | €45,473,833 | +€13.6m | +42.5% |
| Intangible fixed assets | 21 | €269,818 | €821,052 | +€551,234 | +204% |
| Tangible fixed assets | 22/27 | €25,733,635 | €27,313,555 | +€1.6m | +6.1% |
| Land and buildings | 22 | €2,287,806 | €2,203,587 | -€84,219 | -3.7% |
| Plant, machinery and equipment | 23 | €9,528,399 | €9,289,348 | -€239,051 | -2.5% |
| Furniture and vehicles | 24 | €247,507 | €308,797 | +€61,290 | +24.8% |
| Other tangible fixed assets | 26 | €13,250,000 | €13,250,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €419,923 | €2,261,823 | +€1.8m | +439% |
| Financial fixed assets | 28 | €5,904,226 | €17,339,226 | +€11.4m | +194% |
| Affiliated companies | 280/1 | €5,904,226 | €17,339,226 | +€11.4m | +194% |
| Participating interests | 280 | €5,904,226 | €17,339,226 | +€11.4m | +194% |
| Current assets | 29/58 | €70,209,124 | €112,767,084 | +€42.6m | +60.6% |
| Stocks and contracts in progress | 3 | €38,471,213 | €59,786,065 | +€21.3m | +55.4% |
| Stocks | 30/36 | €38,471,213 | €59,786,065 | +€21.3m | +55.4% |
| Raw materials and consumables | 30/31 | €9,088,787 | €37,420,156 | +€28.3m | +312% |
| Work in progress | 32 | €3,114,789 | €6,412,792 | +€3.3m | +106% |
| Finished goods | 33 | €26,267,637 | €15,953,117 | -€10.3m | -39.3% |
| Amounts receivable within one year | 40/41 | €31,422,001 | €41,269,102 | +€9.8m | +31.3% |
| Trade receivables | 40 | €19,764,007 | €32,399,487 | +€12.6m | +63.9% |
| Other amounts receivable | 41 | €11,657,994 | €8,869,615 | -€2.8m | -23.9% |
| Cash at bank and in hand | 54/58 | €85,426 | €11,422,600 | +€11.3m | +13,271% |
| Deferred charges and accrued income | 490/1 | €230,484 | €289,317 | +€58,833 | +25.5% |
| Total equity and liabilities | 10/49 | €102,116,803 | €158,240,917 | +€56.1m | +55.0% |
| Equity | 10/15 | €33,503,294 | €58,839,501 | +€25.3m | +75.6% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Capital | 10 | €4,000,000 | €4,000,000 | = | 0.0% |
| Issued capital | 100 | €4,000,000 | €4,000,000 | = | 0.0% |
| Reserves | 13 | €6,938,797 | €6,938,797 | = | 0.0% |
| Non-distributable reserves | 130/1 | €400,000 | €400,000 | = | 0.0% |
| Legal reserve | 130 | €400,000 | €400,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €752,800 | €752,800 | = | 0.0% |
| Distributable reserves | 133 | €5,785,997 | €5,785,997 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,189,497 | €47,619,454 | +€25.4m | +115% |
| Investment grants | 15 | €375,000 | €281,250 | -€93,750 | -25.0% |
| Provisions and deferred taxes | 16 | €680,961 | €1,773,127 | +€1.1m | +160% |
| Provisions for liabilities and charges | 160/5 | €555,961 | €1,679,377 | +€1.1m | +202% |
| Pensions and similar obligations | 160 | €405,961 | €334,377 | -€71,584 | -17.6% |
| Major repairs and maintenance | 162 | - | €235,000 | +€235,000 | |
| Other liabilities and charges | 164/5 | €150,000 | €1,110,000 | +€960,000 | +640% |
| Deferred taxes | 168 | €125,000 | €93,750 | -€31,250 | -25.0% |
| Amounts payable | 17/49 | €67,932,548 | €97,628,289 | +€29.7m | +43.7% |
| Amounts payable after more than one year | 17 | €8,250,000 | €5,250,000 | -€3.0m | -36.4% |
| Financial debts | 170/4 | €8,250,000 | €5,250,000 | -€3.0m | -36.4% |
| Credit institutions | 173 | €8,250,000 | €5,250,000 | -€3.0m | -36.4% |
| Amounts payable within one year | 42/48 | €59,345,667 | €92,102,790 | +€32.8m | +55.2% |
| Current portion of amounts payable after more than one year | 42 | €8,837,611 | €2,999,996 | -€5.8m | -66.1% |
| Financial debts | 43 | €921,439 | €19,490,822 | +€18.6m | +2,015% |
| Credit institutions | 430/8 | €921,439 | €19,490,822 | +€18.6m | +2,015% |
| Trade debts | 44 | €5,768,887 | €24,147,579 | +€18.4m | +319% |
| Suppliers | 440/4 | €5,768,887 | €24,147,579 | +€18.4m | +319% |
| Advances received on contracts in progress | 46 | €15,664,342 | €911,521 | -€14.8m | -94.2% |
| Taxes, remuneration and social security | 45 | €3,252,101 | €3,083,256 | -€168,845 | -5.2% |
| Taxes | 450/3 | - | €19,621 | +€19,621 | |
| Remuneration and social security | 454/9 | €3,252,101 | €3,063,635 | -€188,466 | -5.8% |
| Other amounts payable | 47/48 | €24,901,287 | €41,469,616 | +€16.6m | +66.5% |
| Accrued charges and deferred income | 492/3 | €336,881 | €275,499 | -€61,382 | -18.2% |
| Operating income | 70/76A | €226,575,535 | €596,654,872 | +€370.1m | +163% |
| Turnover | 70 | €195,113,056 | €585,628,676 | +€390.5m | +200% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €24,361,444 | €3,483,483 | -€20.9m | -85.7% |
| Own construction capitalised | 72 | €163,197 | €0 | -€163,197 | -100% |
| Other operating income | 74 | €6,937,838 | €7,542,713 | +€604,875 | +8.7% |
| Operating charges | 60/66A | €206,711,431 | €540,981,495 | +€334.3m | +162% |
| Goods for resale, raw materials and consumables | 60 | €181,075,716 | €507,122,029 | +€326.0m | +180% |
| Purchases | 600/8 | €182,008,606 | €538,203,398 | +€356.2m | +196% |
| Change in stocks: decrease (increase) | 609 | -€932,890 | -€31,081,369 | -€30.1m | -3,232% |
| Services and other goods | 61 | €8,381,168 | €14,173,598 | +€5.8m | +69.1% |
| Remuneration, social security and pensions | 62 | €13,198,512 | €14,132,040 | +€933,528 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,670,836 | €3,782,627 | +€111,791 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €42,000 | €200,000 | +€158,000 | +376% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€24,209 | €1,123,416 | +€1.1m | |
| Other operating charges | 640/8 | €367,408 | €447,785 | +€80,377 | +21.9% |
| Operating profit (loss) | 9901 | €19,864,104 | €55,673,377 | +€35.8m | +180% |
| Financial income | 75/76B | €2,945,625 | €1,289,727 | -€1.7m | -56.2% |
| Recurring financial income | 75 | €2,945,625 | €1,289,727 | -€1.7m | -56.2% |
| Income from current assets | 751 | €145,430 | €208,342 | +€62,912 | +43.3% |
| Other financial income | 752/9 | €2,800,195 | €1,081,385 | -€1.7m | -61.4% |
| Financial charges | 65/66B | €4,665,117 | €2,664,577 | -€2.0m | -42.9% |
| Recurring financial charges | 65 | €4,665,117 | €2,664,577 | -€2.0m | -42.9% |
| Debt charges | 650 | €1,135,556 | €2,364,008 | +€1.2m | +108% |
| Other financial charges | 652/9 | €3,529,561 | €300,569 | -€3.2m | -91.5% |
| Profit (loss) for the period before taxes | 9903 | €18,144,612 | €54,298,527 | +€36.2m | +199% |
| Transfer from deferred taxes | 780 | €31,250 | €31,250 | = | 0.0% |
| Income taxes | 67/77 | €4,576,345 | €13,899,820 | +€9.3m | +204% |
| Taxes | 670/3 | €4,579,095 | €13,900,000 | +€9.3m | +204% |
| Tax adjustments and reversals of tax provisions | 77 | €2,750 | €180 | -€2,570 | -93.5% |
| Profit (loss) for the period | 9904 | €13,599,517 | €40,429,957 | +€26.8m | +197% |
| Transfer to tax-exempt reserves | 689 | €16,804 | - | -€16,804 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,582,713 | €40,429,957 | +€26.8m | +198% |
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.