KAMAER: 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.
KAMAER
Largest movements
- Tangible fixed assets -€39,277
down €39,277 (-4.9%), from €808,645 to €769,368
of which Land and buildings: -€32,548
- Financial fixed assets -€29,755
down €29,755 (-11.7%), from €254,252 to €224,497
- Profit (loss) carried forward -€44,610
down €44,610 (-8.5%), from €523,590 to €478,980
- Other debts -€38,798
down €38,798 (-8.9%), from €434,540 to €395,742
- Financial charges +€13,226
up €13,226 (+924.9%), from €1,430 to €14,656
of which Non-recurring financial charges: +€13,230
- Turnover +€7,096
up €7,096 (+42.4%), from €16,726 to €23,822
- Gross operating margin +€4,224
up €4,224 (+58.8%), from €7,189 to €11,413
- Purchases and services +€2,872
up €2,872 (+8.6%), from €33,537 to €36,409
- Financial income -€2,859
down €2,859 (-36.3%), from €7,874 to €5,015
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 | €1,126,868 | €1,042,476 | -€84,392 | -7.5% |
| Fixed assets | 21/28 | €1,062,897 | €993,865 | -€69,032 | -6.5% |
| Tangible fixed assets | 22/27 | €808,645 | €769,368 | -€39,277 | -4.9% |
| Land and buildings | 22 | €687,570 | €655,022 | -€32,548 | -4.7% |
| Plant, machinery and equipment | 23 | €118,735 | €112,396 | -€6,339 | -5.3% |
| Furniture and vehicles | 24 | €2,340 | €1,950 | -€390 | -16.7% |
| Financial fixed assets | 28 | €254,252 | €224,497 | -€29,755 | -11.7% |
| Current assets | 29/58 | €63,971 | €48,611 | -€15,360 | -24.0% |
| Amounts receivable within one year | 40/41 | €7,480 | €1,881 | -€5,599 | -74.9% |
| Trade receivables | 40 | €5,669 | €84 | -€5,585 | -98.5% |
| Other amounts receivable | 41 | €1,811 | €1,797 | -€14 | -0.8% |
| Cash at bank and in hand | 54/58 | €53,577 | €45,248 | -€8,329 | -15.5% |
| Deferred charges and accrued income | 490/1 | €2,914 | €1,482 | -€1,432 | -49.1% |
| Total equity and liabilities | 10/49 | €1,126,868 | €1,042,476 | -€84,392 | -7.5% |
| Equity | 10/15 | €679,890 | €634,366 | -€45,524 | -6.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €94,300 | €93,386 | -€914 | -1.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,100 | €87,186 | -€914 | -1.0% |
| Profit (loss) carried forward | 14 | €523,590 | €478,980 | -€44,610 | -8.5% |
| Provisions and deferred taxes | 16 | €8,733 | €8,124 | -€609 | -7.0% |
| Deferred taxes | 168 | €8,733 | €8,124 | -€609 | -7.0% |
| Amounts payable | 17/49 | €438,245 | €399,986 | -€38,259 | -8.7% |
| Amounts payable within one year | 42/48 | €438,245 | €399,986 | -€38,259 | -8.7% |
| Trade debts | 44 | €3,705 | €2,682 | -€1,023 | -27.6% |
| Suppliers | 440/4 | €3,705 | €2,682 | -€1,023 | -27.6% |
| Taxes, remuneration and social security | 45 | - | €1,562 | +€1,562 | |
| Taxes | 450/3 | - | €1,562 | +€1,562 | |
| Other amounts payable | 47/48 | €434,540 | €395,742 | -€38,798 | -8.9% |
| Turnover | 70 | €16,726 | €23,822 | +€7,096 | +42.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €33,537 | €36,409 | +€2,872 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,158 | €44,485 | +€1,327 | +3.1% |
| Other operating charges | 640/8 | €3,589 | €4,349 | +€760 | +21.2% |
| Gross operating margin | 9900 | €7,189 | €11,413 | +€4,224 | +58.8% |
| Operating profit (loss) | 9901 | -€39,558 | -€37,421 | +€2,137 | +5.4% |
| Financial income | 75/76B | €7,874 | €5,015 | -€2,859 | -36.3% |
| Recurring financial income | 75 | €7,874 | €5,015 | -€2,859 | -36.3% |
| Financial charges | 65/66B | €1,430 | €14,656 | +€13,226 | +924.9% |
| Recurring financial charges | 65 | €1,430 | €1,426 | -€4 | -0.3% |
| Non-recurring financial charges | 66B | - | €13,230 | +€13,230 | |
| Profit (loss) for the period before taxes | 9903 | -€33,114 | -€47,062 | -€13,948 | -42.1% |
| Transfer from deferred taxes | 780 | €609 | €609 | = | 0.0% |
| Income taxes | 67/77 | -€942 | -€928 | +€14 | +1.5% |
| Profit (loss) for the period | 9904 | -€31,563 | -€45,525 | -€13,962 | -44.2% |
| Transfer from tax-exempt reserves | 789 | €914 | €915 | +€1 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,649 | -€44,610 | -€13,961 | -45.6% |
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 11 October 2026 via checked.be.