OUTDOOR CAMPUS: 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.
OUTDOOR CAMPUS
Largest movements
- Stocks and contracts -€154,779
down €154,779 (-12.1%), from €1.3m to €1.1m
- Cash -€73,149
down €73,149 (-40.1%), from €182,368 to €109,219
mainly Short-term financial debts (-€400,000) and Other debts (-€25,737)
- Short-term financial debts -€400,000
down €400,000 (-72.7%), from €550,000 to €150,000
- Reserves +€77,375
up €77,375 (+13.1%), from €591,759 to €669,134
- Current portion of long-term debt +€70,026
up €70,026 (+166%), from €42,310 to €112,335
- Trade debts +€48,998
up €48,998 (+136%), from €36,125 to €85,123
- Other debts -€25,737
down €25,737 (-4.9%), from €527,525 to €501,789
- Gross operating margin +€42,725
up €42,725 (+21.2%), from €201,906 to €244,630
- Financial charges -€21,955
down €21,955 (-33.0%), from €66,548 to €44,593
- Taxes +€18,740
up €18,740 (+238%), from €7,878 to €26,618
- Write-downs -€14,469
down €14,469, from €11,815 to -€2,654
- Staff costs +€7,407
up €7,407 (+8.1%), from €91,244 to €98,651
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 | €1,800,301 | €1,584,034 | -€216,267 | -12.0% |
| Fixed assets | 21/28 | €11,696 | €6,843 | -€4,852 | -41.5% |
| Intangible fixed assets | 21 | €4,068 | €2,828 | -€1,240 | -30.5% |
| Tangible fixed assets | 22/27 | €7,628 | €4,016 | -€3,612 | -47.4% |
| Plant, machinery and equipment | 23 | €4,330 | €2,093 | -€2,238 | -51.7% |
| Furniture and vehicles | 24 | €3,298 | €1,923 | -€1,375 | -41.7% |
| Current assets | 29/58 | €1,788,605 | €1,577,190 | -€211,415 | -11.8% |
| Stocks and contracts in progress | 3 | €1,277,164 | €1,122,385 | -€154,779 | -12.1% |
| Stocks | 30/36 | €1,277,164 | €1,122,385 | -€154,779 | -12.1% |
| Amounts receivable within one year | 40/41 | €325,233 | €340,740 | +€15,507 | +4.8% |
| Trade receivables | 40 | €208,243 | €181,872 | -€26,372 | -12.7% |
| Other amounts receivable | 41 | €116,989 | €158,869 | +€41,879 | +35.8% |
| Cash at bank and in hand | 54/58 | €182,368 | €109,219 | -€73,149 | -40.1% |
| Deferred charges and accrued income | 490/1 | €3,840 | €4,846 | +€1,006 | +26.2% |
| Total equity and liabilities | 10/49 | €1,800,301 | €1,584,034 | -€216,267 | -12.0% |
| Equity | 10/15 | €611,759 | €689,134 | +€77,375 | +12.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €591,759 | €669,134 | +€77,375 | +13.1% |
| Distributable reserves | 133 | €591,759 | €669,134 | +€77,375 | +13.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,188,542 | €894,899 | -€293,642 | -24.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,178,484 | €884,498 | -€293,986 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €42,310 | €112,335 | +€70,026 | +166% |
| Financial debts | 43 | €550,000 | €150,000 | -€400,000 | -72.7% |
| Credit institutions | 430/8 | €550,000 | €150,000 | -€400,000 | -72.7% |
| Trade debts | 44 | €36,125 | €85,123 | +€48,998 | +136% |
| Suppliers | 440/4 | €36,125 | €85,123 | +€48,998 | +136% |
| Taxes, remuneration and social security | 45 | €22,524 | €35,251 | +€12,727 | +56.5% |
| Taxes | 450/3 | €6,885 | €15,105 | +€8,220 | +119% |
| Remuneration and social security | 454/9 | €15,639 | €20,146 | +€4,507 | +28.8% |
| Other amounts payable | 47/48 | €527,525 | €501,789 | -€25,737 | -4.9% |
| Accrued charges and deferred income | 492/3 | €10,057 | €10,401 | +€344 | +3.4% |
| Remuneration, social security and pensions | 62 | €91,244 | €98,651 | +€7,407 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,064 | €4,852 | -€212 | -4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,815 | -€2,654 | -€14,469 | |
| Other operating charges | 640/8 | €2,169 | €2,311 | +€142 | +6.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €201,906 | €244,630 | +€42,725 | +21.2% |
| Operating profit (loss) | 9901 | €91,615 | €141,470 | +€49,856 | +54.4% |
| Financial income | 75/76B | €2,707 | €7,116 | +€4,409 | +163% |
| Recurring financial income | 75 | €2,707 | €7,116 | +€4,409 | +163% |
| Financial charges | 65/66B | €66,548 | €44,593 | -€21,955 | -33.0% |
| Recurring financial charges | 65 | €66,548 | €44,593 | -€21,955 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €27,773 | €103,994 | +€76,220 | +274% |
| Income taxes | 67/77 | €7,878 | €26,618 | +€18,740 | +238% |
| Profit (loss) for the period | 9904 | €19,895 | €77,375 | +€57,480 | +289% |
| Profit (loss) for the period to be appropriated | 9905 | €19,895 | €77,375 | +€57,480 | +289% |
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 15 October 2026 via checked.be.