Projet Caméléon: 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.
Projet Caméléon
Largest movements
- Intangible fixed assets -€22,149
down €22,149 (-80.5%), from €27,504 to €5,354
- Receivables within one year +€11,163
up €11,163 (+318%), from €3,510 to €14,673
of which Trade receivables: +€10,541
- Cash +€3,256
up €3,256 (+175%), from €1,865 to €5,122
mainly Depreciation (+€24,986) and Trade debts (+€6,608)
- Tangible fixed assets -€2,836
down €2,836 (-35.6%), from €7,977 to €5,141
of which Furniture and vehicles: -€2,833
- Deferred charges and accrued income -€690
down €690 (-51.7%), from €1,335 to €645
- Other debts -€18,909
down €18,909 (-16.1%), from €117,322 to €98,413
- Trade debts +€6,608
up €6,608 (+350%), from €1,890 to €8,499
- Profit (loss) carried forward +€1,035
up €1,035 (+1.1%), from -€95,622 to -€94,587
- Gross operating margin +€3,703
up €3,703 (+16.0%), from €23,178 to €26,881
- Depreciation +€2,180
up €2,180 (+9.6%), from €22,806 to €24,986
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 | €42,191 | €30,935 | -€11,257 | -26.7% |
| Fixed assets | 21/28 | €35,481 | €10,495 | -€24,986 | -70.4% |
| Intangible fixed assets | 21 | €27,504 | €5,354 | -€22,149 | -80.5% |
| Tangible fixed assets | 22/27 | €7,977 | €5,141 | -€2,836 | -35.6% |
| Plant, machinery and equipment | 23 | €3 | - | -€3 | |
| Furniture and vehicles | 24 | €7,974 | €5,141 | -€2,833 | -35.5% |
| Current assets | 29/58 | €6,710 | €20,440 | +€13,729 | +205% |
| Amounts receivable within one year | 40/41 | €3,510 | €14,673 | +€11,163 | +318% |
| Trade receivables | 40 | €1,477 | €12,018 | +€10,541 | +714% |
| Other amounts receivable | 41 | €2,033 | €2,654 | +€622 | +30.6% |
| Cash at bank and in hand | 54/58 | €1,865 | €5,122 | +€3,256 | +175% |
| Deferred charges and accrued income | 490/1 | €1,335 | €645 | -€690 | -51.7% |
| Total equity and liabilities | 10/49 | €42,191 | €30,935 | -€11,257 | -26.7% |
| Equity | 10/15 | -€77,022 | -€75,987 | +€1,035 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,622 | -€94,587 | +€1,035 | +1.1% |
| Amounts payable | 17/49 | €119,213 | €106,922 | -€12,291 | -10.3% |
| Amounts payable within one year | 42/48 | €119,213 | €106,922 | -€12,291 | -10.3% |
| Trade debts | 44 | €1,890 | €8,499 | +€6,608 | +350% |
| Suppliers | 440/4 | €1,890 | €8,499 | +€6,608 | +350% |
| Taxes, remuneration and social security | 45 | €0 | €9 | +€9 | |
| Taxes | 450/3 | €0 | €9 | +€9 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €117,322 | €98,413 | -€18,909 | -16.1% |
| Non-recurring operating income | 76A | €2,589 | - | -€2,589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,806 | €24,986 | +€2,180 | +9.6% |
| Other operating charges | 640/8 | €720 | €710 | -€10 | -1.3% |
| Non-recurring operating charges | 66A | €3,434 | - | -€3,434 | |
| Gross operating margin | 9900 | €23,178 | €26,881 | +€3,703 | +16.0% |
| Operating profit (loss) | 9901 | -€3,782 | €1,184 | +€4,966 | |
| Financial income | 75/76B | €155 | €0 | -€155 | -100.0% |
| Recurring financial income | 75 | €155 | €0 | -€155 | -100.0% |
| Financial charges | 65/66B | €181 | €150 | -€31 | -17.0% |
| Recurring financial charges | 65 | €181 | €150 | -€31 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,807 | €1,035 | +€4,842 | |
| Profit (loss) for the period | 9904 | -€3,807 | €1,035 | +€4,842 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,807 | €1,035 | +€4,842 |
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 26 October 2026 via checked.be.