CAMPUS: 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.
CAMPUS
Largest movements
- Tangible fixed assets -€42,895
down €42,895 (-5.2%), from €817,155 to €774,260
of which Land and buildings: -€31,828
- Receivables within one year +€30,266
up €30,266 (+1159.4%), from €2,610 to €32,876
- Debts after one year -€18,485
down €18,485 (-11.1%), from €166,835 to €148,349
- Reserves -€16,629
down €16,629 (-3.4%), from €494,553 to €477,924
of which Distributable reserves: -€10,526
- Short-term financial debts +€15,549
up €15,549 (+272.8%), from €5,701 to €21,250
of which Other loans: +€15,550
- Other debts +€9,273
up €9,273 (+211.2%), from €4,390 to €13,663
- Gross operating margin -€9,349
down €9,349 (-18.5%), from €50,444 to €41,095
- Depreciation +€7,118
up €7,118 (+19.9%), from €35,777 to €42,895
- Staff costs +€1,259
new in 2025: €1,259
- Taxes +€1,190
up €1,190 (+41.4%), from €2,874 to €4,064
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 | €830,442 | €816,935 | -€13,506 | -1.6% |
| Fixed assets | 21/28 | €817,155 | €774,260 | -€42,895 | -5.2% |
| Tangible fixed assets | 22/27 | €817,155 | €774,260 | -€42,895 | -5.2% |
| Land and buildings | 22 | €766,394 | €734,566 | -€31,828 | -4.2% |
| Plant, machinery and equipment | 23 | €3,288 | €2,382 | -€906 | -27.6% |
| Furniture and vehicles | 24 | €47,474 | €37,313 | -€10,161 | -21.4% |
| Current assets | 29/58 | €13,286 | €42,675 | +€29,389 | +221.2% |
| Amounts receivable within one year | 40/41 | €2,610 | €32,876 | +€30,266 | +1159.4% |
| Other amounts receivable | 41 | €2,610 | €32,876 | +€30,266 | +1159.4% |
| Cash at bank and in hand | 54/58 | €8,927 | €7,725 | -€1,202 | -13.5% |
| Deferred charges and accrued income | 490/1 | €1,749 | €2,074 | +€325 | +18.6% |
| Total equity and liabilities | 10/49 | €830,442 | €816,935 | -€13,506 | -1.6% |
| Equity | 10/15 | €581,176 | €556,597 | -€24,579 | -4.2% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €494,553 | €477,924 | -€16,629 | -3.4% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €158,628 | €152,526 | -€6,102 | -3.8% |
| Distributable reserves | 133 | €328,488 | €317,961 | -€10,526 | -3.2% |
| Profit (loss) carried forward | 14 | €12,255 | €4,304 | -€7,951 | -64.9% |
| Provisions and deferred taxes | 16 | €52,876 | €50,842 | -€2,034 | -3.8% |
| Deferred taxes | 168 | €52,876 | €50,842 | -€2,034 | -3.8% |
| Amounts payable | 17/49 | €196,390 | €209,497 | +€13,107 | +6.7% |
| Amounts payable after more than one year | 17 | €166,835 | €148,349 | -€18,485 | -11.1% |
| Trade debts | 175 | €166,835 | €148,349 | -€18,485 | -11.1% |
| Amounts payable within one year | 42/48 | €29,555 | €54,094 | +€24,539 | +83.0% |
| Current portion of amounts payable after more than one year | 42 | €17,977 | €18,485 | +€508 | +2.8% |
| Financial debts | 43 | €5,701 | €21,250 | +€15,549 | +272.8% |
| Credit institutions | 430/8 | €1,251 | €1,250 | -€1 | 0.0% |
| Other loans | 439 | €4,450 | €20,000 | +€15,550 | +349.4% |
| Trade debts | 44 | €1,487 | €363 | -€1,124 | -75.6% |
| Suppliers | 440/4 | €1,487 | €363 | -€1,124 | -75.6% |
| Taxes, remuneration and social security | 45 | - | €333 | +€333 | |
| Taxes | 450/3 | - | €333 | +€333 | |
| Other amounts payable | 47/48 | €4,390 | €13,663 | +€9,273 | +211.2% |
| Accrued charges and deferred income | 492/3 | - | €7,053 | +€7,053 | |
| Non-recurring operating income | 76A | €17,500 | - | -€17,500 | |
| Remuneration, social security and pensions | 62 | - | €1,259 | +€1,259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,777 | €42,895 | +€7,118 | +19.9% |
| Other operating charges | 640/8 | €3,346 | €3,401 | +€56 | +1.7% |
| Gross operating margin | 9900 | €50,444 | €41,095 | -€9,349 | -18.5% |
| Operating profit (loss) | 9901 | €11,322 | -€6,460 | -€17,782 | |
| Financial income | 75/76B | €51 | €33 | -€18 | -35.1% |
| Recurring financial income | 75 | €51 | €33 | -€18 | -35.1% |
| Financial charges | 65/66B | €5,320 | €5,596 | +€276 | +5.2% |
| Recurring financial charges | 65 | €5,320 | €5,596 | +€276 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €6,052 | -€12,023 | -€18,075 | |
| Transfer from deferred taxes | 780 | €2,034 | €2,034 | = | 0.0% |
| Income taxes | 67/77 | €2,874 | €4,064 | +€1,190 | +41.4% |
| Profit (loss) for the period | 9904 | €5,212 | -€14,053 | -€19,265 | |
| Transfer from tax-exempt reserves | 789 | €6,102 | €6,102 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,315 | -€7,951 | -€19,265 |
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 12 October 2026 via checked.be.