'T KAMEREYCK: 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.
'T KAMEREYCK
Largest movements
- Tangible fixed assets +€1.9m
up €1.9m (+141%), from €1.4m to €3.3m
- Receivables within one year +€58,800
up €58,800 (+133%), from €44,100 to €102,900
- Cash -€38,884
down €38,884 (-80.7%), from €48,159 to €9,274
mainly Investment in fixed assets (net) (-€1.9m) and Trade debts (-€298,547)
- Debts after one year +€1.8m
up €1.8m (+278%), from €652,223 to €2.5m
- Other debts +€311,364
up €311,364 (+66.5%), from €468,243 to €779,607
- Trade debts -€298,547
down €298,547 (-99.3%), from €300,537 to €1,990
- Current portion of long-term debt +€83,132
new in 2025: €83,132
- Reserves +€54,180
up €54,180 (+281%), from €19,302 to €73,482
- Gross operating margin +€23,681
up €23,681 (+72.6%), from €32,631 to €56,312
- Financial charges -€10,364
down €10,364 (-97.5%), from €10,628 to €264
- Depreciation -€1,265
no longer reported in 2025 (was €1,265)
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 | €1,465,306 | €3,430,080 | +€2.0m | +134% |
| Formation expenses | 20 | - | €7,207 | +€7,207 | |
| Fixed assets | 21/28 | €1,373,047 | €3,310,684 | +€1.9m | +141% |
| Tangible fixed assets | 22/27 | €1,372,047 | €3,309,684 | +€1.9m | +141% |
| Land and buildings | 22 | €1,372,047 | €3,309,684 | +€1.9m | +141% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €92,259 | €112,190 | +€19,931 | +21.6% |
| Amounts receivable within one year | 40/41 | €44,100 | €102,900 | +€58,800 | +133% |
| Trade receivables | 40 | €44,100 | €102,900 | +€58,800 | +133% |
| Cash at bank and in hand | 54/58 | €48,159 | €9,274 | -€38,884 | -80.7% |
| Deferred charges and accrued income | 490/1 | - | €15 | +€15 | |
| Total equity and liabilities | 10/49 | €1,465,306 | €3,430,080 | +€2.0m | +134% |
| Equity | 10/15 | €44,302 | €98,482 | +€54,180 | +122% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €19,302 | €73,482 | +€54,180 | +281% |
| Distributable reserves | 133 | €19,302 | €73,482 | +€54,180 | +281% |
| Amounts payable | 17/49 | €1,421,004 | €3,331,598 | +€1.9m | +134% |
| Amounts payable after more than one year | 17 | €652,223 | €2,466,868 | +€1.8m | +278% |
| Financial debts | 170/4 | €652,223 | €2,466,868 | +€1.8m | +278% |
| Amounts payable within one year | 42/48 | €768,781 | €864,729 | +€95,949 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | - | €83,132 | +€83,132 | |
| Trade debts | 44 | €300,537 | €1,990 | -€298,547 | -99.3% |
| Suppliers | 440/4 | €300,537 | €1,990 | -€298,547 | -99.3% |
| Other amounts payable | 47/48 | €468,243 | €779,607 | +€311,364 | +66.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,265 | - | -€1,265 | |
| Other operating charges | 640/8 | €1,436 | €1,867 | +€431 | +30.0% |
| Gross operating margin | 9900 | €32,631 | €56,312 | +€23,681 | +72.6% |
| Operating profit (loss) | 9901 | €29,930 | €54,444 | +€24,514 | +81.9% |
| Financial charges | 65/66B | €10,628 | €264 | -€10,364 | -97.5% |
| Recurring financial charges | 65 | €10,628 | €264 | -€10,364 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | €19,302 | €54,180 | +€34,878 | +181% |
| Profit (loss) for the period | 9904 | €19,302 | €54,180 | +€34,878 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €19,302 | €54,180 | +€34,878 | +181% |
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 19 October 2026 via checked.be.