DR. K. CAMPS: 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.
DR. K. CAMPS
Largest movements
- Cash +€908,152
up €908,152 (+276%), from €329,609 to €1.2m
mainly Current investments (+€870,000) and Net result for the year (+€207,956)
- Current investments -€870,000
down €870,000 (-63.3%), from €1.4m to €503,753
- Receivables within one year -€36,724
no longer reported in 2025 (was €36,724)
- Deferred charges and accrued income -€22,314
down €22,314 (-25.9%), from €86,245 to €63,931
- Reserves -€37,785
down €37,785 (-2.0%), from €1.9m to €1.8m
- Gross operating margin -€229,863
down €229,863 (-45.2%), from €507,995 to €278,131
- Taxes -€75,466
down €75,466 (-45.3%), from €166,731 to €91,265
- Financial income -€8,126
down €8,126 (-16.7%), from €48,604 to €40,477
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 | €1,882,202 | €1,843,304 | -€38,898 | -2.1% |
| Fixed assets | 21/28 | €55,870 | €37,858 | -€18,012 | -32.2% |
| Tangible fixed assets | 22/27 | €54,870 | €36,858 | -€18,012 | -32.8% |
| Plant, machinery and equipment | 23 | €6,339 | €3,164 | -€3,175 | -50.1% |
| Furniture and vehicles | 24 | €48,531 | €33,694 | -€14,836 | -30.6% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €1,826,332 | €1,805,446 | -€20,886 | -1.1% |
| Amounts receivable within one year | 40/41 | €36,724 | - | -€36,724 | |
| Other amounts receivable | 41 | €36,724 | - | -€36,724 | |
| Current investments | 50/53 | €1,373,753 | €503,753 | -€870,000 | -63.3% |
| Cash at bank and in hand | 54/58 | €329,609 | €1,237,762 | +€908,152 | +276% |
| Deferred charges and accrued income | 490/1 | €86,245 | €63,931 | -€22,314 | -25.9% |
| Total equity and liabilities | 10/49 | €1,882,202 | €1,843,304 | -€38,898 | -2.1% |
| Equity | 10/15 | €1,872,695 | €1,834,910 | -€37,785 | -2.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €1,858,435 | €1,820,650 | -€37,785 | -2.0% |
| Distributable reserves | 133 | €1,858,435 | €1,820,650 | -€37,785 | -2.0% |
| Amounts payable | 17/49 | €9,507 | €8,393 | -€1,113 | -11.7% |
| Amounts payable within one year | 42/48 | €9,507 | €8,393 | -€1,113 | -11.7% |
| Trade debts | 44 | €222 | €368 | +€146 | +65.6% |
| Suppliers | 440/4 | €222 | €368 | +€146 | +65.6% |
| Taxes, remuneration and social security | 45 | €3,031 | €4,974 | +€1,943 | +64.1% |
| Taxes | 450/3 | €3,031 | €4,974 | +€1,943 | +64.1% |
| Other amounts payable | 47/48 | €6,254 | €3,051 | -€3,202 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,750 | €18,012 | -€739 | -3.9% |
| Other operating charges | 640/8 | €236 | €240 | +€4 | +1.7% |
| Gross operating margin | 9900 | €507,995 | €278,131 | -€229,863 | -45.2% |
| Operating profit (loss) | 9901 | €489,008 | €259,880 | -€229,129 | -46.9% |
| Financial income | 75/76B | €48,604 | €40,477 | -€8,126 | -16.7% |
| Recurring financial income | 75 | €48,604 | €40,477 | -€8,126 | -16.7% |
| Financial charges | 65/66B | €1,156 | €1,135 | -€21 | -1.8% |
| Recurring financial charges | 65 | €1,156 | €1,135 | -€21 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €536,456 | €299,222 | -€237,235 | -44.2% |
| Income taxes | 67/77 | €166,731 | €91,265 | -€75,466 | -45.3% |
| Profit (loss) for the period | 9904 | €369,725 | €207,956 | -€161,769 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €369,725 | €207,956 | -€161,769 | -43.8% |
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 24 October 2026 via checked.be.