KAMAZ: 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.
KAMAZ
Largest movements
- Tangible fixed assets -€26,482
down €26,482 (-13.2%), from €199,895 to €173,413
- Receivables within one year -€4,392
down €4,392 (-7.1%), from €61,697 to €57,305
of which Other amounts receivable: -€11,746
- Reserves +€25,796
up €25,796 (+44.3%), from €58,180 to €83,975
- Other debts -€24,313
down €24,313 (-93.8%), from €25,925 to €1,612
- Debts after one year -€17,560
down €17,560 (-13.2%), from €133,069 to €115,509
- Tax, wage and social debts -€14,589
down €14,589 (-35.2%), from €41,406 to €26,817
of which Taxes: -€9,048
- Trade debts -€7,482
down €7,482 (-62.2%), from €12,037 to €4,555
- Staff costs +€20,272
up €20,272 (+11.5%), from €176,038 to €196,310
- Gross operating margin -€12,302
down €12,302 (-4.3%), from €287,128 to €274,826
- Depreciation +€6,713
up €6,713 (+29.5%), from €22,763 to €29,475
- Financial charges -€4,910
down €4,910 (-31.2%), from €15,755 to €10,845
of which Non-recurring financial charges: -€2,774
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 | €301,023 | €267,270 | -€33,753 | -11.2% |
| Fixed assets | 21/28 | €199,895 | €173,413 | -€26,482 | -13.2% |
| Tangible fixed assets | 22/27 | €199,895 | €173,413 | -€26,482 | -13.2% |
| Land and buildings | 22 | €134,874 | €123,770 | -€11,104 | -8.2% |
| Plant, machinery and equipment | 23 | €14,903 | €12,426 | -€2,477 | -16.6% |
| Furniture and vehicles | 24 | €50,118 | €37,217 | -€12,901 | -25.7% |
| Current assets | 29/58 | €101,128 | €93,858 | -€7,271 | -7.2% |
| Stocks and contracts in progress | 3 | €5,864 | €6,450 | +€586 | +10.0% |
| Stocks | 30/36 | €5,864 | €6,450 | +€586 | +10.0% |
| Amounts receivable within one year | 40/41 | €61,697 | €57,305 | -€4,392 | -7.1% |
| Trade receivables | 40 | €43,535 | €50,888 | +€7,354 | +16.9% |
| Other amounts receivable | 41 | €18,162 | €6,416 | -€11,746 | -64.7% |
| Cash at bank and in hand | 54/58 | €31,658 | €30,103 | -€1,555 | -4.9% |
| Deferred charges and accrued income | 490/1 | €1,910 | - | -€1,910 | |
| Total equity and liabilities | 10/49 | €301,023 | €267,270 | -€33,753 | -11.2% |
| Equity | 10/15 | €78,180 | €103,975 | +€25,796 | +33.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €58,180 | €83,975 | +€25,796 | +44.3% |
| Distributable reserves | 133 | €58,180 | €83,975 | +€25,796 | +44.3% |
| Amounts payable | 17/49 | €222,843 | €163,295 | -€59,548 | -26.7% |
| Amounts payable after more than one year | 17 | €133,069 | €115,509 | -€17,560 | -13.2% |
| Financial debts | 170/4 | €133,069 | €115,509 | -€17,560 | -13.2% |
| Amounts payable within one year | 42/48 | €89,774 | €47,786 | -€41,988 | -46.8% |
| Current portion of amounts payable after more than one year | 42 | €10,406 | €10,573 | +€167 | +1.6% |
| Trade debts | 44 | €12,037 | €4,555 | -€7,482 | -62.2% |
| Suppliers | 440/4 | €12,037 | €4,555 | -€7,482 | -62.2% |
| Advances received on contracts in progress | 46 | - | €4,229 | +€4,229 | |
| Taxes, remuneration and social security | 45 | €41,406 | €26,817 | -€14,589 | -35.2% |
| Taxes | 450/3 | €12,253 | €3,205 | -€9,048 | -73.8% |
| Remuneration and social security | 454/9 | €29,153 | €23,612 | -€5,541 | -19.0% |
| Other amounts payable | 47/48 | €25,925 | €1,612 | -€24,313 | -93.8% |
| Remuneration, social security and pensions | 62 | €176,038 | €196,310 | +€20,272 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,763 | €29,475 | +€6,713 | +29.5% |
| Other operating charges | 640/8 | €1,983 | €1,188 | -€795 | -40.1% |
| Gross operating margin | 9900 | €287,128 | €274,826 | -€12,302 | -4.3% |
| Operating profit (loss) | 9901 | €86,345 | €47,853 | -€38,493 | -44.6% |
| Financial income | 75/76B | €0 | €30 | +€30 | +13740.9% |
| Recurring financial income | 75 | €0 | €30 | +€30 | +13740.9% |
| Financial charges | 65/66B | €15,755 | €10,845 | -€4,910 | -31.2% |
| Recurring financial charges | 65 | €12,115 | €9,979 | -€2,136 | -17.6% |
| Non-recurring financial charges | 66B | €3,640 | €866 | -€2,774 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €70,590 | €37,038 | -€33,552 | -47.5% |
| Income taxes | 67/77 | €12,500 | €11,242 | -€1,258 | -10.1% |
| Profit (loss) for the period | 9904 | €58,090 | €25,796 | -€32,294 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,090 | €25,796 | -€32,294 | -55.6% |
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 3 October 2026 via checked.be.