Colmath: what changed
Two fiscal 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.
Colmath
Largest movements
- Current investments +€272,855
new in 2025: €272,855
- Cash -€177,694
down €177,694 (-82.7%), from €214,975 to €37,281
mainly Current investments (-€272,855) and Net result for the year (-€37,481)
- Receivables within one year -€167,974
down €167,974 (-68.6%), from €244,795 to €76,821
of which Other amounts receivable: -€168,583
- Receivables after one year -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Profit (loss) carried forward -€37,481
down €37,481, from €0 to -€37,481
- Tax, wage and social debts -€30,873
down €30,873 (-76.1%), from €40,544 to €9,672
- Debts after one year -€27,777
down €27,777 (-26.8%), from €103,778 to €76,001
- Gross operating margin -€381,142
down €381,142, from €339,284 to -€41,857
- Taxes -€79,870
down €79,870 (-98.9%), from €80,748 to €878
- Depreciation -€25,697
down €25,697 (-88.1%), from €29,169 to €3,473
- Financial income +€19,128
up €19,128 (+408.2%), from €4,686 to €23,814
- Other operating charges -€4,934
down €4,934 (-90.5%), from €5,455 to €521
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 | €504,517 | €406,902 | -€97,615 | -19.3% |
| Fixed assets | 21/28 | €13,998 | €11,526 | -€2,472 | -17.7% |
| Tangible fixed assets | 22/27 | €13,998 | €11,526 | -€2,472 | -17.7% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,942 | €2,205 | +€263 | +13.6% |
| Furniture and vehicles | 24 | €12,056 | €9,321 | -€2,736 | -22.7% |
| Current assets | 29/58 | €490,519 | €395,376 | -€95,143 | -19.4% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100.0% |
| Other amounts receivable | 291 | €20,000 | €0 | -€20,000 | -100.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €244,795 | €76,821 | -€167,974 | -68.6% |
| Trade receivables | 40 | €14,874 | €15,483 | +€609 | +4.1% |
| Other amounts receivable | 41 | €229,921 | €61,338 | -€168,583 | -73.3% |
| Current investments | 50/53 | - | €272,855 | +€272,855 | |
| Cash at bank and in hand | 54/58 | €214,975 | €37,281 | -€177,694 | -82.7% |
| Deferred charges and accrued income | 490/1 | €10,748 | €8,419 | -€2,329 | -21.7% |
| Total equity and liabilities | 10/49 | €504,517 | €406,902 | -€97,615 | -19.3% |
| Equity | 10/15 | €328,166 | €290,685 | -€37,481 | -11.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €308,166 | €308,166 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €202,916 | €202,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€37,481 | -€37,481 | |
| Amounts payable | 17/49 | €176,351 | €116,217 | -€60,134 | -34.1% |
| Amounts payable after more than one year | 17 | €103,778 | €76,001 | -€27,777 | -26.8% |
| Financial debts | 170/4 | €103,778 | €76,001 | -€27,777 | -26.8% |
| Amounts payable within one year | 42/48 | €72,573 | €40,215 | -€32,357 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €26,388 | €27,777 | +€1,389 | +5.3% |
| Financial debts | 43 | €203 | €212 | +€9 | +4.2% |
| Credit institutions | 430/8 | €203 | €212 | +€9 | +4.2% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €5,437 | €2,555 | -€2,882 | -53.0% |
| Suppliers | 440/4 | €5,437 | €2,555 | -€2,882 | -53.0% |
| Taxes, remuneration and social security | 45 | €40,544 | €9,672 | -€30,873 | -76.1% |
| Taxes | 450/3 | €40,544 | €9,672 | -€30,873 | -76.1% |
| Non-recurring operating income | 76A | €904,700 | €0 | -€904,700 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,169 | €3,473 | -€25,697 | -88.1% |
| Other operating charges | 640/8 | €5,455 | €521 | -€4,934 | -90.5% |
| Non-recurring operating charges | 66A | €1,496 | €4,636 | +€3,140 | +209.9% |
| Gross operating margin | 9900 | €339,284 | -€41,857 | -€381,142 | |
| Operating profit (loss) | 9901 | €303,164 | -€50,987 | -€354,151 | |
| Financial income | 75/76B | €4,686 | €23,814 | +€19,128 | +408.2% |
| Recurring financial income | 75 | €4,686 | €23,814 | +€19,128 | +408.2% |
| Financial charges | 65/66B | €13,429 | €9,429 | -€3,999 | -29.8% |
| Recurring financial charges | 65 | €13,429 | €9,429 | -€3,999 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €294,421 | -€36,602 | -€331,024 | |
| Income taxes | 67/77 | €80,748 | €878 | -€79,870 | -98.9% |
| Profit (loss) for the period | 9904 | €213,673 | -€37,481 | -€251,154 | |
| Transfer to tax-exempt reserves | 689 | €105,250 | €0 | -€105,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €108,423 | -€37,481 | -€145,904 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.