REDCAM: 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.
REDCAM
Largest movements
- Tangible fixed assets +€36,546
up €36,546 (+146.6%), from €24,934 to €61,481
of which Furniture and vehicles: +€35,819
- Receivables after one year +€33,832
new in 2025: €33,832
- Cash +€11,446
up €11,446 (+63838.9%), from €18 to €11,464
mainly Net result for the year (+€78,384) and Depreciation (+€18,141)
- Receivables within one year -€3,950
down €3,950 (-10.8%), from €36,552 to €32,602
of which Other amounts receivable: -€3,030
- Reserves +€74,000
up €74,000 (+3978.5%), from €1,860 to €75,860
of which Distributable reserves: +€74,000
- Accrued charges and deferred income -€9,580
down €9,580 (-100.0%), from €9,580 to €0
- Current portion of long-term debt +€9,513
up €9,513 (+128.0%), from €7,434 to €16,946
- Short-term financial debts -€5,947
down €5,947 (-100.0%), from €5,947 to €0
- Profit (loss) carried forward +€4,384
up €4,384, from -€3,304 to €1,080
- Gross operating margin +€123,760
up €123,760 (+138.8%), from €89,140 to €212,900
- Taxes +€35,782
up €35,782 (+611.0%), from €5,856 to €41,639
- Depreciation +€11,957
up €11,957 (+193.3%), from €6,184 to €18,141
- Staff costs +€8,440
up €8,440 (+13.4%), from €63,135 to €71,575
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 | €62,876 | €139,866 | +€76,991 | +122.4% |
| Fixed assets | 21/28 | €24,934 | €61,481 | +€36,546 | +146.6% |
| Tangible fixed assets | 22/27 | €24,934 | €61,481 | +€36,546 | +146.6% |
| Plant, machinery and equipment | 23 | €6,250 | €6,977 | +€727 | +11.6% |
| Furniture and vehicles | 24 | €18,684 | €54,503 | +€35,819 | +191.7% |
| Current assets | 29/58 | €37,941 | €78,386 | +€40,444 | +106.6% |
| Amounts receivable after more than one year | 29 | - | €33,832 | +€33,832 | |
| Other amounts receivable | 291 | - | €33,832 | +€33,832 | |
| Amounts receivable within one year | 40/41 | €36,552 | €32,602 | -€3,950 | -10.8% |
| Trade receivables | 40 | €33,368 | €32,449 | -€920 | -2.8% |
| Other amounts receivable | 41 | €3,183 | €153 | -€3,030 | -95.2% |
| Cash at bank and in hand | 54/58 | €18 | €11,464 | +€11,446 | +63838.9% |
| Deferred charges and accrued income | 490/1 | €1,372 | €488 | -€884 | -64.4% |
| Total equity and liabilities | 10/49 | €62,876 | €139,866 | +€76,991 | +122.4% |
| Equity | 10/15 | €10,956 | €89,340 | +€78,384 | +715.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €75,860 | +€74,000 | +3978.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €74,000 | +€74,000 | |
| Profit (loss) carried forward | 14 | -€3,304 | €1,080 | +€4,384 | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €51,920 | €50,527 | -€1,393 | -2.7% |
| Amounts payable after more than one year | 17 | €5,748 | €8,618 | +€2,869 | +49.9% |
| Financial debts | 170/4 | €5,748 | €8,618 | +€2,869 | +49.9% |
| Amounts payable within one year | 42/48 | €36,591 | €41,909 | +€5,318 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €7,434 | €16,946 | +€9,513 | +128.0% |
| Financial debts | 43 | €5,947 | €0 | -€5,947 | -100.0% |
| Credit institutions | 430/8 | €5,947 | €0 | -€5,947 | -100.0% |
| Trade debts | 44 | €6,095 | €6,320 | +€225 | +3.7% |
| Suppliers | 440/4 | €6,095 | €6,320 | +€225 | +3.7% |
| Taxes, remuneration and social security | 45 | €15,808 | €18,643 | +€2,836 | +17.9% |
| Taxes | 450/3 | €3,814 | €8,941 | +€5,127 | +134.4% |
| Remuneration and social security | 454/9 | €11,994 | €9,702 | -€2,292 | -19.1% |
| Other amounts payable | 47/48 | €1,308 | €0 | -€1,308 | -100.0% |
| Accrued charges and deferred income | 492/3 | €9,580 | €0 | -€9,580 | -100.0% |
| Non-recurring operating income | 76A | - | €1,700 | +€1,700 | |
| Remuneration, social security and pensions | 62 | €63,135 | €71,575 | +€8,440 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,184 | €18,141 | +€11,957 | +193.3% |
| Other operating charges | 640/8 | €3,195 | €1,891 | -€1,304 | -40.8% |
| Non-recurring operating charges | 66A | €4,950 | - | -€4,950 | |
| Gross operating margin | 9900 | €89,140 | €212,900 | +€123,760 | +138.8% |
| Operating profit (loss) | 9901 | €11,676 | €121,293 | +€109,617 | +938.8% |
| Financial income | 75/76B | €32 | €9 | -€23 | -71.6% |
| Recurring financial income | 75 | €32 | €9 | -€23 | -71.6% |
| Financial charges | 65/66B | €761 | €1,280 | +€518 | +68.1% |
| Recurring financial charges | 65 | €761 | €1,280 | +€518 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | €10,946 | €120,022 | +€109,076 | +996.4% |
| Income taxes | 67/77 | €5,856 | €41,639 | +€35,782 | +611.0% |
| Profit (loss) for the period | 9904 | €5,090 | €78,384 | +€73,293 | +1439.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,090 | €78,384 | +€73,293 | +1439.9% |
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 9 October 2026 via checked.be.