CAMUZEO: 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.
CAMUZEO
Largest movements
- Tangible fixed assets -€25,671
down €25,671 (-3.4%), from €744,896 to €719,225
of which Other tangible fixed assets: -€25,556
- Receivables within one year -€14,219
down €14,219 (-34.5%), from €41,215 to €26,995
of which Trade receivables: -€14,512
- Debts after one year -€52,927
down €52,927 (-13.7%), from €386,366 to €333,439
- Other debts +€16,445
up €16,445 (+14.6%), from €112,925 to €129,370
- Gross operating margin -€40,516
down €40,516 (-36.6%), from €110,632 to €70,115
- Staff costs -€28,234
down €28,234 (-60.3%), from €46,816 to €18,582
- Depreciation -€13,008
down €13,008 (-33.6%), from €38,679 to €25,671
- Financial charges -€8,738
down €8,738 (-39.5%), from €22,144 to €13,407
- Other operating charges -€8,192
down €8,192 (-49.0%), from €16,709 to €8,516
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 | €788,398 | €747,342 | -€41,055 | -5.2% |
| Fixed assets | 21/28 | €745,296 | €719,625 | -€25,671 | -3.4% |
| Tangible fixed assets | 22/27 | €744,896 | €719,225 | -€25,671 | -3.4% |
| Furniture and vehicles | 24 | €115 | - | -€115 | |
| Other tangible fixed assets | 26 | €744,781 | €719,225 | -€25,556 | -3.4% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €43,102 | €27,717 | -€15,385 | -35.7% |
| Amounts receivable within one year | 40/41 | €41,215 | €26,995 | -€14,219 | -34.5% |
| Trade receivables | 40 | €41,197 | €26,686 | -€14,512 | -35.2% |
| Other amounts receivable | 41 | €17 | €310 | +€292 | +1,682% |
| Cash at bank and in hand | 54/58 | €1,887 | €722 | -€1,165 | -61.8% |
| Total equity and liabilities | 10/49 | €788,398 | €747,342 | -€41,055 | -5.2% |
| Equity | 10/15 | €187,315 | €191,255 | +€3,940 | +2.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €117 | €117 | = | 0.0% |
| Non-distributable reserves | 130/1 | €117 | €117 | = | 0.0% |
| Reserves not available under the articles | 1311 | €117 | €117 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,802 | -€8,862 | +€3,940 | +30.8% |
| Amounts payable | 17/49 | €601,083 | €556,087 | -€44,996 | -7.5% |
| Amounts payable after more than one year | 17 | €386,366 | €333,439 | -€52,927 | -13.7% |
| Financial debts | 170/4 | €386,366 | €333,439 | -€52,927 | -13.7% |
| Amounts payable within one year | 42/48 | €213,959 | €222,281 | +€8,322 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €51,421 | €52,927 | +€1,506 | +2.9% |
| Trade debts | 44 | €39,538 | €33,438 | -€6,100 | -15.4% |
| Suppliers | 440/4 | €39,538 | €33,438 | -€6,100 | -15.4% |
| Taxes, remuneration and social security | 45 | €10,075 | €6,546 | -€3,529 | -35.0% |
| Taxes | 450/3 | €5,274 | €698 | -€4,577 | -86.8% |
| Remuneration and social security | 454/9 | €4,800 | €5,848 | +€1,048 | +21.8% |
| Other amounts payable | 47/48 | €112,925 | €129,370 | +€16,445 | +14.6% |
| Accrued charges and deferred income | 492/3 | €757 | €367 | -€390 | -51.5% |
| Non-recurring operating income | 76A | €3,766 | - | -€3,766 | |
| Remuneration, social security and pensions | 62 | €46,816 | €18,582 | -€28,234 | -60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,679 | €25,671 | -€13,008 | -33.6% |
| Other operating charges | 640/8 | €16,709 | €8,516 | -€8,192 | -49.0% |
| Non-recurring operating charges | 66A | €966 | - | -€966 | |
| Gross operating margin | 9900 | €110,632 | €70,115 | -€40,516 | -36.6% |
| Operating profit (loss) | 9901 | €7,462 | €17,347 | +€9,885 | +132% |
| Financial income | 75/76B | €0 | €0 | -€0 | -54.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -54.5% |
| Financial charges | 65/66B | €22,144 | €13,407 | -€8,738 | -39.5% |
| Recurring financial charges | 65 | €22,144 | €13,407 | -€8,738 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,682 | €3,940 | +€18,622 | |
| Income taxes | 67/77 | €101 | - | -€101 | |
| Profit (loss) for the period | 9904 | -€14,783 | €3,940 | +€18,723 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,783 | €3,940 | +€18,723 |
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 22 October 2026 via checked.be.