KAMENA: 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.
KAMENA
Largest movements
- Tangible fixed assets -€28,550
down €28,550 (-3.6%), from €799,690 to €771,140
of which Land and buildings: -€28,550
- Debts after one year -€40,433
down €40,433 (-9.6%), from €419,835 to €379,402
- Other debts +€23,047
up €23,047 (+20.0%), from €115,002 to €138,049
- Tax, wage and social debts -€12,000
down €12,000 (-63.5%), from €18,904 to €6,904
- Gross operating margin -€177,669
down €177,669 (-79.1%), from €224,735 to €47,066
- Depreciation -€122,891
down €122,891 (-81.1%), from €151,441 to €28,550
- Other operating charges -€38,762
down €38,762 (-90.5%), from €42,855 to €4,093
- Taxes +€3,809
new in 2025: €3,809
- Financial charges -€2,832
down €2,832 (-26.0%), from €10,879 to €8,047
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €799,690 | €771,140 | -€28,550 | -3.6% |
| Fixed assets | 21/28 | €799,690 | €771,140 | -€28,550 | -3.6% |
| Tangible fixed assets | 22/27 | €799,690 | €771,140 | -€28,550 | -3.6% |
| Land and buildings | 22 | €540,362 | €511,812 | -€28,550 | -5.3% |
| Plant, machinery and equipment | 23 | €259,328 | €259,328 | = | 0.0% |
| Total equity and liabilities | 10/49 | €799,690 | €771,140 | -€28,550 | -3.6% |
| Equity | 10/15 | €192,772 | €195,340 | +€2,568 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €174,172 | €176,740 | +€2,568 | +1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €172,312 | €174,880 | +€2,568 | +1.5% |
| Amounts payable | 17/49 | €606,918 | €575,800 | -€31,118 | -5.1% |
| Amounts payable after more than one year | 17 | €419,835 | €379,402 | -€40,433 | -9.6% |
| Financial debts | 170/4 | €419,835 | €379,402 | -€40,433 | -9.6% |
| Amounts payable within one year | 42/48 | €187,083 | €196,398 | +€9,315 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €44,161 | €40,802 | -€3,359 | -7.6% |
| Trade debts | 44 | €9,016 | €10,643 | +€1,627 | +18.0% |
| Suppliers | 440/4 | €9,016 | €10,643 | +€1,627 | +18.0% |
| Taxes, remuneration and social security | 45 | €18,904 | €6,904 | -€12,000 | -63.5% |
| Taxes | 450/3 | €18,904 | €6,904 | -€12,000 | -63.5% |
| Other amounts payable | 47/48 | €115,002 | €138,049 | +€23,047 | +20.0% |
| Non-recurring operating income | 76A | €190,000 | - | -€190,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,441 | €28,550 | -€122,891 | -81.1% |
| Other operating charges | 640/8 | €42,855 | €4,093 | -€38,762 | -90.5% |
| Gross operating margin | 9900 | €224,735 | €47,066 | -€177,669 | -79.1% |
| Operating profit (loss) | 9901 | €30,439 | €14,424 | -€16,015 | -52.6% |
| Financial charges | 65/66B | €10,879 | €8,047 | -€2,832 | -26.0% |
| Recurring financial charges | 65 | €10,879 | €8,047 | -€2,832 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €19,560 | €6,377 | -€13,183 | -67.4% |
| Income taxes | 67/77 | - | €3,809 | +€3,809 | |
| Profit (loss) for the period | 9904 | €19,560 | €2,568 | -€16,992 | -86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,560 | €2,568 | -€16,992 | -86.9% |
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 30 September 2026 via checked.be.