COMADIS: 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.
COMADIS
Largest movements
- Stocks and contracts -€645,614
down €645,614 (-23.6%), from €2.7m to €2.1m
of which Stocks: -€530,324
- Receivables within one year +€220,940
up €220,940 (+50.3%), from €439,437 to €660,376
of which Trade receivables: +€227,820
- Cash +€58,886
up €58,886 (+303,382%), from €19 to €58,906
mainly Stocks and contracts (+€645,614) and Tax, wage and social debts (+€388,361)
- Tax, wage and social debts +€388,361
up €388,361 (+2,787%), from €13,933 to €402,294
- Debts after one year -€291,919
down €291,919 (-46.6%), from €626,919 to €335,000
- Trade debts -€265,366
down €265,366 (-29.5%), from €899,403 to €634,037
- Other debts -€157,741
down €157,741 (-5.5%), from €2.9m to €2.7m
- Profit (loss) carried forward -€117,857
down €117,857 (-8.3%), from -€1.4m to -€1.5m
- Gross operating margin +€234,225
up €234,225 (+71.5%), from -€327,668 to -€93,444
- Financial charges -€149,293
down €149,293 (-91.8%), from €162,641 to €13,348
- Financial income -€79,185
down €79,185 (-99.7%), from €79,405 to €220
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 | €3,587,069 | €3,217,516 | -€369,552 | -10.3% |
| Fixed assets | 21/28 | €409,171 | €405,822 | -€3,348 | -0.8% |
| Tangible fixed assets | 22/27 | €409,171 | €405,822 | -€3,348 | -0.8% |
| Plant, machinery and equipment | 23 | €696 | €482 | -€215 | -30.8% |
| Furniture and vehicles | 24 | €408,474 | €405,340 | -€3,134 | -0.8% |
| Current assets | 29/58 | €3,177,898 | €2,811,694 | -€366,204 | -11.5% |
| Stocks and contracts in progress | 3 | €2,738,026 | €2,092,412 | -€645,614 | -23.6% |
| Stocks | 30/36 | €2,480,674 | €1,950,350 | -€530,324 | -21.4% |
| Contracts in progress | 37 | €257,352 | €142,062 | -€115,290 | -44.8% |
| Amounts receivable within one year | 40/41 | €439,437 | €660,376 | +€220,940 | +50.3% |
| Trade receivables | 40 | €124,985 | €352,805 | +€227,820 | +182% |
| Other amounts receivable | 41 | €314,452 | €307,572 | -€6,880 | -2.2% |
| Cash at bank and in hand | 54/58 | €19 | €58,906 | +€58,886 | +303,382% |
| Deferred charges and accrued income | 490/1 | €416 | €0 | -€416 | -100% |
| Total equity and liabilities | 10/49 | €3,587,069 | €3,217,516 | -€369,552 | -10.3% |
| Equity | 10/15 | -€1,301,907 | -€1,419,764 | -€117,857 | -9.1% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €10,604 | €10,604 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €688 | €688 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,411,669 | -€1,529,526 | -€117,857 | -8.3% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €4,888,976 | €4,637,281 | -€251,695 | -5.1% |
| Amounts payable after more than one year | 17 | €626,919 | €335,000 | -€291,919 | -46.6% |
| Financial debts | 170/4 | €626,919 | €335,000 | -€291,919 | -46.6% |
| Amounts payable within one year | 42/48 | €4,262,056 | €4,302,281 | +€40,224 | +0.9% |
| Financial debts | 43 | €3,265 | €0 | -€3,265 | -100% |
| Credit institutions | 430/8 | €3,265 | €0 | -€3,265 | -100% |
| Trade debts | 44 | €899,403 | €634,037 | -€265,366 | -29.5% |
| Suppliers | 440/4 | €899,403 | €634,037 | -€265,366 | -29.5% |
| Advances received on contracts in progress | 46 | €494,765 | €573,000 | +€78,235 | +15.8% |
| Taxes, remuneration and social security | 45 | €13,933 | €402,294 | +€388,361 | +2,787% |
| Taxes | 450/3 | €13,933 | €402,294 | +€388,361 | +2,787% |
| Other amounts payable | 47/48 | €2,850,691 | €2,692,949 | -€157,741 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,348 | €3,348 | = | 0.0% |
| Other operating charges | 640/8 | €9,650 | €6,840 | -€2,810 | -29.1% |
| Gross operating margin | 9900 | -€327,668 | -€93,444 | +€234,225 | +71.5% |
| Operating profit (loss) | 9901 | -€340,667 | -€103,632 | +€237,035 | +69.6% |
| Financial income | 75/76B | €79,405 | €220 | -€79,185 | -99.7% |
| Recurring financial income | 75 | €79,405 | €220 | -€79,185 | -99.7% |
| Financial charges | 65/66B | €162,641 | €13,348 | -€149,293 | -91.8% |
| Recurring financial charges | 65 | €162,641 | €13,348 | -€149,293 | -91.8% |
| Profit (loss) for the period before taxes | 9903 | -€423,903 | -€116,760 | +€307,143 | +72.5% |
| Transfer from deferred taxes | 780 | €28,039 | €0 | -€28,039 | -100% |
| Income taxes | 67/77 | €0 | €1,097 | +€1,097 | |
| Profit (loss) for the period | 9904 | -€395,864 | -€117,857 | +€278,007 | +70.2% |
| Transfer from tax-exempt reserves | 789 | €84,119 | €0 | -€84,119 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€311,745 | -€117,857 | +€193,888 | +62.2% |
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 14 October 2026 via checked.be.