W. CAMBIER: 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.
W. CAMBIER
Largest movements
- Cash +€93,626
up €93,626 (+170%), from €55,125 to €148,750
mainly Net result for the year (+€75,016) and Current investments (+€25,131)
- Current investments -€25,131
down €25,131 (-5.2%), from €483,340 to €458,209
- Tangible fixed assets -€9,826
down €9,826 (-30.9%), from €31,751 to €21,925
of which Furniture and vehicles: -€11,200
- Reserves +€75,016
up €75,016 (+15.7%), from €477,073 to €552,090
- Other debts -€14,832
down €14,832 (-46.0%), from €32,214 to €17,382
- Gross operating margin +€9,614
up €9,614 (+9.1%), from €105,915 to €115,529
- Taxes +€3,384
up €3,384 (+10.2%), from €33,088 to €36,472
- Financial income +€2,155
up €2,155 (+19.6%), from €10,981 to €13,136
- Financial charges +€1,255
up €1,255 (+38.4%), from €3,265 to €4,520
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 | €580,374 | €640,423 | +€60,049 | +10.3% |
| Fixed assets | 21/28 | €31,801 | €21,975 | -€9,826 | -30.9% |
| Tangible fixed assets | 22/27 | €31,751 | €21,925 | -€9,826 | -30.9% |
| Plant, machinery and equipment | 23 | €1,189 | €2,562 | +€1,374 | +116% |
| Furniture and vehicles | 24 | €30,562 | €19,362 | -€11,200 | -36.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €548,573 | €618,448 | +€69,875 | +12.7% |
| Amounts receivable within one year | 40/41 | €2,315 | €2,039 | -€276 | -11.9% |
| Other amounts receivable | 41 | €2,315 | €2,039 | -€276 | -11.9% |
| Current investments | 50/53 | €483,340 | €458,209 | -€25,131 | -5.2% |
| Cash at bank and in hand | 54/58 | €55,125 | €148,750 | +€93,626 | +170% |
| Deferred charges and accrued income | 490/1 | €7,794 | €9,450 | +€1,656 | +21.3% |
| Total equity and liabilities | 10/49 | €580,374 | €640,423 | +€60,049 | +10.3% |
| Equity | 10/15 | €519,794 | €593,810 | +€74,016 | +14.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €477,073 | €552,090 | +€75,016 | +15.7% |
| Distributable reserves | 133 | €477,073 | €552,090 | +€75,016 | +15.7% |
| Profit (loss) carried forward | 14 | €24,170 | €23,170 | -€1,000 | -4.1% |
| Amounts payable | 17/49 | €60,580 | €46,613 | -€13,967 | -23.1% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,814 | €20,846 | -€13,968 | -40.1% |
| Trade debts | 44 | €1,353 | €2,365 | +€1,012 | +74.8% |
| Suppliers | 440/4 | €1,353 | €2,365 | +€1,012 | +74.8% |
| Taxes, remuneration and social security | 45 | €1,248 | €1,099 | -€148 | -11.9% |
| Taxes | 450/3 | €1,248 | €1,099 | -€148 | -11.9% |
| Other amounts payable | 47/48 | €32,214 | €17,382 | -€14,832 | -46.0% |
| Accrued charges and deferred income | 492/3 | €766 | €767 | +€1 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,647 | €11,739 | +€92 | +0.8% |
| Other operating charges | 640/8 | €903 | €919 | +€16 | +1.8% |
| Gross operating margin | 9900 | €105,915 | €115,529 | +€9,614 | +9.1% |
| Operating profit (loss) | 9901 | €93,365 | €102,871 | +€9,506 | +10.2% |
| Financial income | 75/76B | €10,981 | €13,136 | +€2,155 | +19.6% |
| Recurring financial income | 75 | €10,981 | €13,136 | +€2,155 | +19.6% |
| Financial charges | 65/66B | €3,265 | €4,520 | +€1,255 | +38.4% |
| Recurring financial charges | 65 | €3,265 | €4,520 | +€1,255 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €101,082 | €111,488 | +€10,406 | +10.3% |
| Income taxes | 67/77 | €33,088 | €36,472 | +€3,384 | +10.2% |
| Profit (loss) for the period | 9904 | €67,994 | €75,016 | +€7,022 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,994 | €75,016 | +€7,022 | +10.3% |
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 23 October 2026 via checked.be.