Comagi: 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.
What changed
Comagi
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€64,827
2024 · -€409,462+€474,289
Equity
€9.2m
2024 · €9.1m+€64,827
Cash
€61,028
2024 · €158,128-€97,101
Balance sheet total
€18.2m
2024 · €18.3m-€53,620
Largest movements
Assets
- Receivables within one year +€657,582
up €657,582 (+13.8%), from €4.8m to €5.4m
of which Other amounts receivable: +€656,299
- Tangible fixed assets -€596,160
down €596,160 (-4.5%), from €13.2m to €12.6m
of which Land and buildings: -€434,863
Equity and liabilities
- Tax, wage and social debts -€288,717
down €288,717 (-96.7%), from €298,649 to €9,932
of which Taxes: -€288,919
- Other debts +€250,697
up €250,697 (+171.7%), from €146,044 to €396,741
Income statement
- Gross operating margin +€379,552
up €379,552 (+142.3%), from €266,706 to €646,259
- Financial charges -€101,918
down €101,918 (-22.0%), from €463,272 to €361,354
- Depreciation -€70,125
down €70,125 (-18.1%), from €387,200 to €317,075
- Other operating charges +€52,130
up €52,130 (+96.1%), from €54,248 to €106,379
- Financial income -€41,726
down €41,726 (-14.6%), from €285,239 to €243,514
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.
Result 2024
-€409,462
Gross operating margin
+€379,552
Staff costs
-€1,752
Depreciation
+€70,125
Other operating charges
-€52,130
Financial income
-€41,726
Financial charges
+€101,918
Taxes
+€18,301
Result 2025
€64,827
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.
From operations
-€357,441
Investment
+€311,224
Financing
-€50,884
Cash 2024
€158,128
From operations (derived)
-€357,441
Net result for the year
+€64,827
Depreciation
+€317,075
Receivables within one year
-€657,582
Deferred charges and accrued income
-€14,197
Provisions
-€13,058
Trade debts
-€16,612
Tax, wage and social debts
-€288,717
Other debts
+€250,697
Accrued charges and deferred income
+€126
Investment (derived)
+€311,224
Investment in fixed assets (net)
+€279,085
Current investments
+€32,139
Financing
-€50,884
Debts after one year
-€328
Current portion of long-term debt
-€50,556
Cash 2025
€61,028
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,250,474 | €18,196,854 | -€53,620 | -0.3% |
| Fixed assets | 21/28 | €13,198,823 | €12,602,663 | -€596,160 | -4.5% |
| Tangible fixed assets | 22/27 | €13,198,823 | €12,602,663 | -€596,160 | -4.5% |
| Land and buildings | 22 | €12,954,439 | €12,519,576 | -€434,863 | -3.4% |
| Furniture and vehicles | 24 | €166,384 | €83,086 | -€83,297 | -50.1% |
| Other tangible fixed assets | 26 | €78,000 | - | -€78,000 | |
| Current assets | 29/58 | €5,051,651 | €5,594,191 | +€542,541 | +10.7% |
| Amounts receivable within one year | 40/41 | €4,755,374 | €5,412,957 | +€657,582 | +13.8% |
| Trade receivables | 40 | - | €1,283 | +€1,283 | |
| Other amounts receivable | 41 | €4,755,374 | €5,411,673 | +€656,299 | +13.8% |
| Current investments | 50/53 | €83,725 | €51,586 | -€32,139 | -38.4% |
| Cash at bank and in hand | 54/58 | €158,128 | €61,028 | -€97,101 | -61.4% |
| Deferred charges and accrued income | 490/1 | €54,423 | €68,621 | +€14,197 | +26.1% |
| Total equity and liabilities | 10/49 | €18,250,474 | €18,196,854 | -€53,620 | -0.3% |
| Equity | 10/15 | €9,124,302 | €9,189,129 | +€64,827 | +0.7% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €9,472,591 | €9,433,419 | -€39,173 | -0.4% |
| Tax-exempt reserves | 132 | €342,077 | €302,905 | -€39,173 | -11.5% |
| Distributable reserves | 133 | €9,130,514 | €9,130,514 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€370,289 | -€266,289 | +€104,000 | +28.1% |
| Provisions and deferred taxes | 16 | €114,026 | €100,968 | -€13,058 | -11.5% |
| Deferred taxes | 168 | €114,026 | €100,968 | -€13,058 | -11.5% |
| Amounts payable | 17/49 | €9,012,146 | €8,906,757 | -€105,390 | -1.2% |
| Amounts payable after more than one year | 17 | €7,917,523 | €7,917,194 | -€328 | 0.0% |
| Financial debts | 170/4 | €7,917,523 | €7,917,194 | -€328 | 0.0% |
| Amounts payable within one year | 42/48 | €1,074,711 | €969,523 | -€105,188 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €609,717 | €559,161 | -€50,556 | -8.3% |
| Trade debts | 44 | €20,301 | €3,689 | -€16,612 | -81.8% |
| Suppliers | 440/4 | €20,301 | €3,689 | -€16,612 | -81.8% |
| Taxes, remuneration and social security | 45 | €298,649 | €9,932 | -€288,717 | -96.7% |
| Taxes | 450/3 | €292,509 | €3,590 | -€288,919 | -98.8% |
| Remuneration and social security | 454/9 | €6,141 | €6,342 | +€201 | +3.3% |
| Other amounts payable | 47/48 | €146,044 | €396,741 | +€250,697 | +171.7% |
| Accrued charges and deferred income | 492/3 | €19,913 | €20,039 | +€126 | +0.6% |
| Non-recurring operating income | 76A | €72,868 | - | -€72,868 | |
| Remuneration, social security and pensions | 62 | €51,028 | €52,779 | +€1,752 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387,200 | €317,075 | -€70,125 | -18.1% |
| Other operating charges | 640/8 | €54,248 | €106,379 | +€52,130 | +96.1% |
| Gross operating margin | 9900 | €266,706 | €646,259 | +€379,552 | +142.3% |
| Operating profit (loss) | 9901 | -€225,770 | €170,025 | +€395,796 | |
| Financial income | 75/76B | €285,239 | €243,514 | -€41,726 | -14.6% |
| Recurring financial income | 75 | €285,239 | €243,514 | -€41,726 | -14.6% |
| Financial charges | 65/66B | €463,272 | €361,354 | -€101,918 | -22.0% |
| Recurring financial charges | 65 | €463,272 | €361,354 | -€101,918 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€403,803 | €52,185 | +€455,988 | |
| Transfer from deferred taxes | 780 | €13,058 | €13,058 | = | 0.0% |
| Income taxes | 67/77 | €18,716 | €415 | -€18,301 | -97.8% |
| Profit (loss) for the period | 9904 | -€409,462 | €64,827 | +€474,289 | |
| Transfer from tax-exempt reserves | 789 | €39,173 | €39,173 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€370,289 | €104,000 | +€474,289 |
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 6 October 2026 via checked.be.