There are 48 teeth on the cam wheel. That means each tooth is 7.5 degrees of cam, or 15 degrees of crank. Now, when using adjustable cams (I can't remember whether the adjustment is "degrees of cam" or "degrees of crank"), but the usual adjustment is around 4 degrees. So, 1 tooth is at least twice the recommended adjustment.
When fixing it, use a texta to mark the belt and wheel, slip the cam wheel off the camshaft, move the camwheel 1 tooth on the belt (move the 2 marks 1 tooth apart), then slip the camwheel back onto the camshaft (you need to turn the camshaft or the crank slightly to realign the locating dowel).