CAMPO: 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.
CAMPO
Largest movements
- Cash +€64,802
up €64,802 (+389.2%), from €16,649 to €81,451
mainly Net result for the year (+€163,719) and Receivables within one year (+€56,580)
- Receivables within one year -€56,580
down €56,580 (-9.7%), from €583,021 to €526,441
of which Trade receivables: -€41,719
- Deferred charges and accrued income +€32,135
up €32,135 (+47.7%), from €67,439 to €99,574
- Profit (loss) carried forward +€119,720
up €119,720, from -€11,455 to €108,265
- Short-term financial debts -€68,378
no longer reported in 2025 (was €68,378)
- Reserves +€44,000
up €44,000 (+24.2%), from €181,937 to €225,937
- Tax, wage and social debts -€40,336
down €40,336 (-17.7%), from €228,116 to €187,780
of which Remuneration and social security: -€34,463
- Investment grants -€17,417
down €17,417 (-13.7%), from €127,047 to €109,630
No income-statement line moved by more than 1% of the activity.
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.
Cash bridge derived
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 | €1,065,668 | €1,086,243 | +€20,575 | +1.9% |
| Fixed assets | 21/28 | €395,589 | €375,925 | -€19,664 | -5.0% |
| Tangible fixed assets | 22/27 | €374,453 | €363,733 | -€10,720 | -2.9% |
| Land and buildings | 22 | €369,879 | €352,122 | -€17,757 | -4.8% |
| Plant, machinery and equipment | 23 | €4,574 | €11,612 | +€7,038 | +153.9% |
| Financial fixed assets | 28 | €21,136 | €12,191 | -€8,945 | -42.3% |
| Current assets | 29/58 | €670,079 | €710,319 | +€40,240 | +6.0% |
| Stocks and contracts in progress | 3 | €2,970 | €2,853 | -€117 | -4.0% |
| Stocks | 30/36 | €2,970 | €2,853 | -€117 | -4.0% |
| Amounts receivable within one year | 40/41 | €583,021 | €526,441 | -€56,580 | -9.7% |
| Trade receivables | 40 | €112,096 | €70,377 | -€41,719 | -37.2% |
| Other amounts receivable | 41 | €470,925 | €456,063 | -€14,862 | -3.2% |
| Cash at bank and in hand | 54/58 | €16,649 | €81,451 | +€64,802 | +389.2% |
| Deferred charges and accrued income | 490/1 | €67,439 | €99,574 | +€32,135 | +47.7% |
| Total equity and liabilities | 10/49 | €1,065,668 | €1,086,243 | +€20,575 | +1.9% |
| Equity | 10/15 | €297,529 | €443,832 | +€146,303 | +49.2% |
| Reserves | 13 | €181,937 | €225,937 | +€44,000 | +24.2% |
| Profit (loss) carried forward | 14 | -€11,455 | €108,265 | +€119,720 | |
| Investment grants | 15 | €127,047 | €109,630 | -€17,417 | -13.7% |
| Provisions and deferred taxes | 16 | €13,518 | - | -€13,518 | |
| Provisions for liabilities and charges | 160/5 | €13,518 | - | -€13,518 | |
| Other liabilities and charges | 164/5 | €13,518 | - | -€13,518 | |
| Amounts payable | 17/49 | €754,621 | €642,412 | -€112,209 | -14.9% |
| Amounts payable within one year | 42/48 | €361,763 | €250,145 | -€111,618 | -30.9% |
| Financial debts | 43 | €68,378 | - | -€68,378 | |
| Credit institutions | 430/8 | €68,378 | - | -€68,378 | |
| Trade debts | 44 | €65,269 | €62,366 | -€2,903 | -4.4% |
| Suppliers | 440/4 | €65,269 | €62,366 | -€2,903 | -4.4% |
| Taxes, remuneration and social security | 45 | €228,116 | €187,780 | -€40,336 | -17.7% |
| Taxes | 450/3 | €38,625 | €32,752 | -€5,873 | -15.2% |
| Remuneration and social security | 454/9 | €189,491 | €155,028 | -€34,463 | -18.2% |
| Accrued charges and deferred income | 492/3 | €392,858 | €392,267 | -€591 | -0.2% |
| Remuneration, social security and pensions | 62 | €1,448,560 | €1,445,455 | -€3,105 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,921 | €55,785 | +€6,864 | +14.0% |
| Other operating charges | 640/8 | €23,818 | €40,040 | +€16,222 | +68.1% |
| Non-recurring operating charges | 66A | €40,211 | €11,334 | -€28,877 | -71.8% |
| Gross operating margin | 9900 | €1,709,625 | €1,707,485 | -€2,140 | -0.1% |
| Operating profit (loss) | 9901 | €134,597 | €168,389 | +€33,792 | +25.1% |
| Financial income | 75/76B | €240 | €291 | +€51 | +21.3% |
| Recurring financial income | 75 | €240 | €291 | +€51 | +21.3% |
| Financial charges | 65/66B | €7,647 | €4,961 | -€2,686 | -35.1% |
| Recurring financial charges | 65 | €7,647 | €4,961 | -€2,686 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €127,190 | €163,719 | +€36,529 | +28.7% |
| Profit (loss) for the period | 9904 | €127,190 | €163,719 | +€36,529 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €127,190 | €163,719 | +€36,529 | +28.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.