COMARDEN: 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
COMARDEN
NACE 46.831, Wholesale of construction materials, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€112,308
2024 · €228,894-€116,586
Equity
€6.0m
2024 · €5.9m+€108,690
Cash
€1.2m
2024 · €821,141+€409,272
Balance sheet total
€8.9m
2024 · €8.8m+€127,469
Largest movements
Assets
- Cash +€409,272
up €409,272 (+49.8%), from €821,141 to €1.2m
mainly Depreciation (+€249,422) and Receivables within one year (+€182,515)
- Tangible fixed assets -€190,475
down €190,475 (-27.0%), from €705,427 to €514,951
- Receivables within one year -€182,515
down €182,515 (-11.8%), from €1.5m to €1.4m
of which Other amounts receivable: -€316,574
- Current investments +€141,788
up €141,788 (+55.8%), from €253,875 to €395,663
Equity and liabilities
- Trade debts +€173,004
up €173,004 (+44.2%), from €391,020 to €564,024
- Reserves +€112,308
up €112,308 (+1.9%), from €5.8m to €5.9m
of which Distributable reserves: +€217,558
Income statement
- Goods and materials +€1.8m
up €1.8m (+13.8%), from €12.9m to €14.7m
of which Purchases: +€1.5m
- Turnover +€1.5m
up €1.5m (+9.0%), from €16.7m to €18.2m
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
€228,894
Turnover
+€1.5m
Other operating income
+€12,299
Goods and materials
-€1.8m
Services and other goods
-€57,379
Staff costs
+€169,447
Depreciation
+€15,358
Write-downs
+€122,883
Other operating charges
-€109,152
Financial income
-€5,952
Financial charges
-€22,284
Taxes
+€33,466
Result 2025
€112,308
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
+€715,870
Investment
-€200,735
Financing
-€105,864
Cash 2024
€821,141
From operations (derived)
+€715,870
Net result for the year
+€112,308
Depreciation
+€249,422
Stocks and contracts
+€59,435
Receivables within one year
+€182,515
Deferred charges and accrued income
-€8,835
Trade debts
+€173,004
Tax, wage and social debts
-€7,984
Advances received
+€11,878
Other debts
-€56,603
Accrued charges and deferred income
+€731
Investment (derived)
-€200,735
Investment in fixed assets (net)
-€58,947
Current investments
-€141,788
Financing
-€105,864
Debts after one year
-€21,475
Current portion of long-term debt
-€36,422
Short-term financial debts
-€44,349
Contributions, distributions and other
-€3,617
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,807,493 | €8,934,962 | +€127,469 | +1.4% |
| Fixed assets | 21/28 | €708,057 | €517,582 | -€190,475 | -26.9% |
| Tangible fixed assets | 22/27 | €705,427 | €514,951 | -€190,475 | -27.0% |
| Land and buildings | 22 | €194,346 | €178,025 | -€16,322 | -8.4% |
| Plant, machinery and equipment | 23 | €159,801 | €102,733 | -€57,068 | -35.7% |
| Furniture and vehicles | 24 | €192,788 | €104,823 | -€87,966 | -45.6% |
| Leasing and similar rights | 25 | €155,085 | €129,371 | -€25,713 | -16.6% |
| Assets under construction and advance payments | 27 | €3,407 | €0 | -€3,407 | -100.0% |
| Financial fixed assets | 28 | €2,631 | €2,631 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,631 | €2,631 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,631 | €2,631 | = | 0.0% |
| Current assets | 29/58 | €8,099,436 | €8,417,380 | +€317,945 | +3.9% |
| Stocks and contracts in progress | 3 | €5,424,687 | €5,365,253 | -€59,435 | -1.1% |
| Stocks | 30/36 | €5,424,687 | €5,365,253 | -€59,435 | -1.1% |
| Goods purchased for resale | 34 | €5,424,687 | €5,365,253 | -€59,435 | -1.1% |
| Amounts receivable within one year | 40/41 | €1,541,542 | €1,359,027 | -€182,515 | -11.8% |
| Trade receivables | 40 | €1,181,027 | €1,315,085 | +€134,059 | +11.4% |
| Other amounts receivable | 41 | €360,515 | €43,941 | -€316,574 | -87.8% |
| Current investments | 50/53 | €253,875 | €395,663 | +€141,788 | +55.8% |
| Other investments | 51/53 | €253,875 | €395,663 | +€141,788 | +55.8% |
| Cash at bank and in hand | 54/58 | €821,141 | €1,230,413 | +€409,272 | +49.8% |
| Deferred charges and accrued income | 490/1 | €58,191 | €67,026 | +€8,835 | +15.2% |
| Total equity and liabilities | 10/49 | €8,807,493 | €8,934,962 | +€127,469 | +1.4% |
| Equity | 10/15 | €5,866,871 | €5,975,561 | +€108,690 | +1.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,834,462 | €5,946,770 | +€112,308 | +1.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €608,240 | €502,990 | -€105,250 | -17.3% |
| Distributable reserves | 133 | €5,224,222 | €5,441,780 | +€217,558 | +4.2% |
| Investment grants | 15 | €12,409 | €8,791 | -€3,617 | -29.2% |
| Amounts payable | 17/49 | €2,940,622 | €2,959,402 | +€18,779 | +0.6% |
| Amounts payable after more than one year | 17 | €1,121,475 | €1,100,000 | -€21,475 | -1.9% |
| Financial debts | 170/4 | €21,475 | €0 | -€21,475 | -100.0% |
| Leasing and similar obligations | 172 | €6,847 | €0 | -€6,847 | -100.0% |
| Credit institutions | 173 | €14,628 | €0 | -€14,628 | -100.0% |
| Other amounts payable | 178/9 | €1,100,000 | €1,100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,812,412 | €1,851,935 | +€39,523 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €57,897 | €21,475 | -€36,422 | -62.9% |
| Financial debts | 43 | €63,347 | €18,998 | -€44,349 | -70.0% |
| Other loans | 439 | €63,347 | €18,998 | -€44,349 | -70.0% |
| Trade debts | 44 | €391,020 | €564,024 | +€173,004 | +44.2% |
| Suppliers | 440/4 | €391,020 | €564,024 | +€173,004 | +44.2% |
| Advances received on contracts in progress | 46 | €20,369 | €32,246 | +€11,878 | +58.3% |
| Taxes, remuneration and social security | 45 | €348,915 | €340,930 | -€7,984 | -2.3% |
| Taxes | 450/3 | €169,501 | €182,413 | +€12,913 | +7.6% |
| Remuneration and social security | 454/9 | €179,414 | €158,517 | -€20,897 | -11.6% |
| Other amounts payable | 47/48 | €930,865 | €874,262 | -€56,603 | -6.1% |
| Accrued charges and deferred income | 492/3 | €6,735 | €7,467 | +€731 | +10.9% |
| Operating income | 70/76A | €16,837,876 | €18,353,594 | +€1.5m | +9.0% |
| Turnover | 70 | €16,732,357 | €18,235,776 | +€1.5m | +9.0% |
| Other operating income | 74 | €105,519 | €117,818 | +€12,299 | +11.7% |
| Operating charges | 60/66A | €16,498,936 | €18,136,470 | +€1.6m | +9.9% |
| Goods for resale, raw materials and consumables | 60 | €12,920,619 | €14,699,311 | +€1.8m | +13.8% |
| Purchases | 600/8 | €13,108,572 | €14,639,876 | +€1.5m | +11.7% |
| Change in stocks: decrease (increase) | 609 | -€187,953 | €59,435 | +€247,388 | |
| Services and other goods | 61 | €1,024,375 | €1,081,754 | +€57,379 | +5.6% |
| Remuneration, social security and pensions | 62 | €2,217,286 | €2,047,839 | -€169,447 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264,781 | €249,422 | -€15,358 | -5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,098 | -€109,784 | -€122,883 | |
| Other operating charges | 640/8 | €58,777 | €167,928 | +€109,152 | +185.7% |
| Operating profit (loss) | 9901 | €338,940 | €217,124 | -€121,816 | -35.9% |
| Financial income | 75/76B | €189,613 | €183,661 | -€5,952 | -3.1% |
| Recurring financial income | 75 | €189,613 | €183,661 | -€5,952 | -3.1% |
| Income from current assets | 751 | €184,903 | €180,037 | -€4,865 | -2.6% |
| Other financial income | 752/9 | €4,711 | €3,624 | -€1,087 | -23.1% |
| Financial charges | 65/66B | €192,449 | €214,733 | +€22,284 | +11.6% |
| Recurring financial charges | 65 | €192,449 | €214,733 | +€22,284 | +11.6% |
| Debt charges | 650 | €20,066 | €20,453 | +€387 | +1.9% |
| Other financial charges | 652/9 | €172,383 | €194,280 | +€21,897 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €336,104 | €186,052 | -€150,052 | -44.6% |
| Income taxes | 67/77 | €107,211 | €73,745 | -€33,466 | -31.2% |
| Taxes | 670/3 | €109,271 | €73,745 | -€35,526 | -32.5% |
| Tax adjustments and reversals of tax provisions | 77 | €2,060 | €0 | -€2,060 | -100.0% |
| Profit (loss) for the period | 9904 | €228,894 | €112,308 | -€116,586 | -50.9% |
| Transfer from tax-exempt reserves | 789 | €105,250 | €105,250 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €334,144 | €217,558 | -€116,586 | -34.9% |
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 4 October 2026 via checked.be.