COMARCO: 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.
COMARCO
Largest movements
- Receivables within one year -€44,653
down €44,653 (-21.2%), from €210,253 to €165,600
- Tangible fixed assets -€35,109
down €35,109 (-7.1%), from €493,347 to €458,238
of which Land and buildings: -€30,343
- Cash -€8,410
down €8,410 (-98.9%), from €8,501 to €91
mainly Net result for the year (-€55,997) and Tax, wage and social debts (-€10,553)
- Profit (loss) carried forward -€55,997
down €55,997 (-20.0%), from €279,466 to €223,469
- Tax, wage and social debts -€10,553
no longer reported in 2025 (was €10,553)
- Short-term financial debts -€9,801
down €9,801 (-95.0%), from €10,313 to €512
- Debts after one year -€8,212
down €8,212 (-10.7%), from €76,581 to €68,369
- Gross operating margin +€25,827
up €25,827 (+56.8%), from -€45,454 to -€19,627
- Depreciation -€2,394
down €2,394 (-5.6%), from €43,068 to €40,674
- Financial income -€1,783
down €1,783 (-14.2%), from €12,550 to €10,767
- Financial charges -€1,751
down €1,751 (-33.8%), from €5,177 to €3,426
- Other operating charges -€513
down €513 (-14.5%), from €3,545 to €3,032
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 | €713,176 | €624,992 | -€88,184 | -12.4% |
| Fixed assets | 21/28 | €494,347 | €459,238 | -€35,109 | -7.1% |
| Tangible fixed assets | 22/27 | €493,347 | €458,238 | -€35,109 | -7.1% |
| Land and buildings | 22 | €463,220 | €432,878 | -€30,343 | -6.6% |
| Plant, machinery and equipment | 23 | €28,015 | €24,486 | -€3,529 | -12.6% |
| Furniture and vehicles | 24 | €2,112 | €875 | -€1,237 | -58.6% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €218,829 | €165,754 | -€53,075 | -24.3% |
| Amounts receivable within one year | 40/41 | €210,253 | €165,600 | -€44,653 | -21.2% |
| Other amounts receivable | 41 | €210,253 | €165,600 | -€44,653 | -21.2% |
| Cash at bank and in hand | 54/58 | €8,501 | €91 | -€8,410 | -98.9% |
| Deferred charges and accrued income | 490/1 | €75 | €63 | -€13 | -16.7% |
| Total equity and liabilities | 10/49 | €713,176 | €624,992 | -€88,184 | -12.4% |
| Equity | 10/15 | €602,987 | €546,990 | -€55,997 | -9.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €304,971 | €304,971 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,971 | €4,971 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,971 | €4,971 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €279,466 | €223,469 | -€55,997 | -20.0% |
| Amounts payable | 17/49 | €110,189 | €78,002 | -€32,187 | -29.2% |
| Amounts payable after more than one year | 17 | €76,581 | €68,369 | -€8,212 | -10.7% |
| Financial debts | 170/4 | €76,581 | €68,369 | -€8,212 | -10.7% |
| Amounts payable within one year | 42/48 | €32,498 | €9,633 | -€22,865 | -70.4% |
| Current portion of amounts payable after more than one year | 42 | €8,080 | €8,212 | +€132 | +1.6% |
| Financial debts | 43 | €10,313 | €512 | -€9,801 | -95.0% |
| Credit institutions | 430/8 | €10,313 | €512 | -€9,801 | -95.0% |
| Trade debts | 44 | €3,552 | €909 | -€2,643 | -74.4% |
| Suppliers | 440/4 | €3,552 | €909 | -€2,643 | -74.4% |
| Taxes, remuneration and social security | 45 | €10,553 | - | -€10,553 | |
| Taxes | 450/3 | €10,553 | - | -€10,553 | |
| Accrued charges and deferred income | 492/3 | €1,110 | - | -€1,110 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,068 | €40,674 | -€2,394 | -5.6% |
| Other operating charges | 640/8 | €3,545 | €3,032 | -€513 | -14.5% |
| Gross operating margin | 9900 | -€45,454 | -€19,627 | +€25,827 | +56.8% |
| Operating profit (loss) | 9901 | -€92,068 | -€63,333 | +€28,734 | +31.2% |
| Financial income | 75/76B | €12,550 | €10,767 | -€1,783 | -14.2% |
| Recurring financial income | 75 | €12,550 | €10,767 | -€1,783 | -14.2% |
| Financial charges | 65/66B | €5,177 | €3,426 | -€1,751 | -33.8% |
| Recurring financial charges | 65 | €5,177 | €3,426 | -€1,751 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | -€84,695 | -€55,992 | +€28,703 | +33.9% |
| Income taxes | 67/77 | €284 | €5 | -€279 | -98.3% |
| Profit (loss) for the period | 9904 | -€84,979 | -€55,997 | +€28,982 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,979 | -€55,997 | +€28,982 | +34.1% |
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 9 October 2026 via checked.be.