MR-CAM PROJECTS: what changed
MR-CAM PROJECTS
Largest movements
- Receivables within one year -€20,320
down €20,320 (-64.8%), from €31,360 to €11,040
- Current investments +€16,307
up €16,307 (+29.7%), from €54,990 to €71,297
- Stocks and contracts +€15,107
new in 2025: €15,107
of which Stocks: +€7,607
- Tangible fixed assets +€7,661
up €7,661 (+53.4%), from €14,347 to €22,008
of which Other tangible fixed assets: +€6,295
- Reserves +€23,674
up €23,674 (+34.1%), from €69,379 to €93,053
- Tax, wage and social debts -€14,185
down €14,185 (-52.0%), from €27,285 to €13,100
- Trade debts +€6,642
up €6,642 (+669%), from €993 to €7,635
- Other debts +€2,078
up €2,078 (+131%), from €1,585 to €3,664
- Gross operating margin -€48,597
down €48,597 (-54.1%), from €89,826 to €41,228
- Taxes -€8,564
down €8,564 (-46.5%), from €18,420 to €9,856
- Depreciation +€3,226
up €3,226 (+263%), from €1,225 to €4,451
- Financial charges +€2,377
up €2,377 (+127,105%), from €2 to €2,379
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,243 | €119,452 | +€18,209 | +18.0% |
| Formation expenses | 20 | €346 | - | -€346 | |
| Fixed assets | 21/28 | €14,347 | €22,008 | +€7,661 | +53.4% |
| Tangible fixed assets | 22/27 | €14,347 | €22,008 | +€7,661 | +53.4% |
| Plant, machinery and equipment | 23 | €1,094 | €5,112 | +€4,018 | +367% |
| Furniture and vehicles | 24 | €13,253 | €10,601 | -€2,652 | -20.0% |
| Other tangible fixed assets | 26 | - | €6,295 | +€6,295 | |
| Current assets | 29/58 | €86,550 | €97,444 | +€10,894 | +12.6% |
| Stocks and contracts in progress | 3 | - | €15,107 | +€15,107 | |
| Stocks | 30/36 | - | €7,607 | +€7,607 | |
| Contracts in progress | 37 | - | €7,500 | +€7,500 | |
| Amounts receivable within one year | 40/41 | €31,360 | €11,040 | -€20,320 | -64.8% |
| Trade receivables | 40 | €31,360 | €11,040 | -€20,320 | -64.8% |
| Current investments | 50/53 | €54,990 | €71,297 | +€16,307 | +29.7% |
| Deferred charges and accrued income | 490/1 | €200 | - | -€200 | |
| Total equity and liabilities | 10/49 | €101,243 | €119,452 | +€18,209 | +18.0% |
| Equity | 10/15 | €71,379 | €95,053 | +€23,674 | +33.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €69,379 | €93,053 | +€23,674 | +34.1% |
| Distributable reserves | 133 | €69,379 | €93,053 | +€23,674 | +34.1% |
| Amounts payable | 17/49 | €29,864 | €24,399 | -€5,465 | -18.3% |
| Amounts payable within one year | 42/48 | €29,864 | €24,399 | -€5,465 | -18.3% |
| Trade debts | 44 | €993 | €7,635 | +€6,642 | +669% |
| Suppliers | 440/4 | €993 | €7,635 | +€6,642 | +669% |
| Taxes, remuneration and social security | 45 | €27,285 | €13,100 | -€14,185 | -52.0% |
| Taxes | 450/3 | €27,285 | €13,100 | -€14,185 | -52.0% |
| Other amounts payable | 47/48 | €1,585 | €3,664 | +€2,078 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,225 | €4,451 | +€3,226 | +263% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €89,826 | €41,228 | -€48,597 | -54.1% |
| Operating profit (loss) | 9901 | €88,600 | €36,714 | -€51,887 | -58.6% |
| Financial income | 75/76B | - | €29 | +€29 | |
| Recurring financial income | 75 | - | €29 | +€29 | |
| Financial charges | 65/66B | €2 | €2,379 | +€2,377 | +127,105% |
| Recurring financial charges | 65 | €2 | €2,379 | +€2,377 | +127,105% |
| Profit (loss) for the period before taxes | 9903 | €88,599 | €34,363 | -€54,235 | -61.2% |
| Income taxes | 67/77 | €18,420 | €9,856 | -€8,564 | -46.5% |
| Profit (loss) for the period | 9904 | €70,179 | €24,507 | -€45,671 | -65.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,179 | €24,507 | -€45,671 | -65.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.