COMAGINA: 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.
COMAGINA
Largest movements
- Cash -€542,965
down €542,965 (-87.7%), from €619,003 to €76,038
mainly Other debts (-€227,690) and Contributions, distributions and other (-€164,037)
- Receivables within one year +€123,540
up €123,540 (+1,814%), from €6,809 to €130,350
- Tangible fixed assets -€16,507
down €16,507 (-9.1%), from €181,962 to €165,455
of which Land and buildings: -€12,465
- Other debts -€227,690
down €227,690 (-98.9%), from €230,234 to €2,544
- Reserves -€187,625
down €187,625 (-39.1%), from €479,543 to €291,918
- Debts after one year -€17,913
down €17,913 (-12.8%), from €140,353 to €122,440
- Gross operating margin -€20,100
down €20,100 (-18.4%), from €109,082 to €88,982
- Financial charges -€17,727
down €17,727 (-73.6%), from €24,100 to €6,373
- Financial income +€2,760
up €2,760 (+51.8%), from €5,333 to €8,093
- Other operating charges +€2,695
up €2,695 (+70.7%), from €3,814 to €6,508
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 | €935,693 | €497,519 | -€438,174 | -46.8% |
| Fixed assets | 21/28 | €181,962 | €165,455 | -€16,507 | -9.1% |
| Tangible fixed assets | 22/27 | €181,962 | €165,455 | -€16,507 | -9.1% |
| Land and buildings | 22 | €168,495 | €156,030 | -€12,465 | -7.4% |
| Furniture and vehicles | 24 | €13,467 | €6,486 | -€6,981 | -51.8% |
| Other tangible fixed assets | 26 | - | €2,939 | +€2,939 | |
| Current assets | 29/58 | €753,731 | €332,064 | -€421,667 | -55.9% |
| Stocks and contracts in progress | 3 | €125,064 | €122,064 | -€3,000 | -2.4% |
| Stocks | 30/36 | €125,064 | €122,064 | -€3,000 | -2.4% |
| Amounts receivable within one year | 40/41 | €6,809 | €130,350 | +€123,540 | +1,814% |
| Other amounts receivable | 41 | €6,809 | €130,350 | +€123,540 | +1,814% |
| Cash at bank and in hand | 54/58 | €619,003 | €76,038 | -€542,965 | -87.7% |
| Deferred charges and accrued income | 490/1 | €2,855 | €3,613 | +€758 | +26.6% |
| Total equity and liabilities | 10/49 | €935,693 | €497,519 | -€438,174 | -46.8% |
| Equity | 10/15 | €499,543 | €311,918 | -€187,625 | -37.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €479,543 | €291,918 | -€187,625 | -39.1% |
| Distributable reserves | 133 | €479,543 | €291,918 | -€187,625 | -39.1% |
| Amounts payable | 17/49 | €436,149 | €185,601 | -€250,548 | -57.4% |
| Amounts payable after more than one year | 17 | €140,353 | €122,440 | -€17,913 | -12.8% |
| Financial debts | 170/4 | €140,353 | €122,440 | -€17,913 | -12.8% |
| Amounts payable within one year | 42/48 | €295,796 | €63,161 | -€232,635 | -78.6% |
| Current portion of amounts payable after more than one year | 42 | €17,268 | €18,186 | +€918 | +5.3% |
| Trade debts | 44 | €6,923 | €7,717 | +€794 | +11.5% |
| Suppliers | 440/4 | €6,923 | €7,717 | +€794 | +11.5% |
| Taxes, remuneration and social security | 45 | €41,371 | €34,715 | -€6,656 | -16.1% |
| Taxes | 450/3 | €16,038 | €10,649 | -€5,389 | -33.6% |
| Remuneration and social security | 454/9 | €25,333 | €24,066 | -€1,267 | -5.0% |
| Other amounts payable | 47/48 | €230,234 | €2,544 | -€227,690 | -98.9% |
| Remuneration, social security and pensions | 62 | €88,665 | €87,755 | -€910 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,339 | €19,488 | +€149 | +0.8% |
| Other operating charges | 640/8 | €3,814 | €6,508 | +€2,695 | +70.7% |
| Gross operating margin | 9900 | €109,082 | €88,982 | -€20,100 | -18.4% |
| Operating profit (loss) | 9901 | -€2,735 | -€24,769 | -€22,034 | -806% |
| Financial income | 75/76B | €5,333 | €8,093 | +€2,760 | +51.8% |
| Recurring financial income | 75 | €5,333 | €8,093 | +€2,760 | +51.8% |
| Financial charges | 65/66B | €24,100 | €6,373 | -€17,727 | -73.6% |
| Recurring financial charges | 65 | €24,100 | €6,373 | -€17,727 | -73.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,502 | -€23,048 | -€1,546 | -7.2% |
| Income taxes | 67/77 | €235 | €540 | +€305 | +129% |
| Profit (loss) for the period | 9904 | -€21,737 | -€23,588 | -€1,851 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,737 | -€23,588 | -€1,851 | -8.5% |
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.