COMAX: 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.
COMAX
Largest movements
- Receivables within one year +€339,270
up €339,270 (+82.7%), from €410,012 to €749,282
of which Other amounts receivable: +€244,684
- Tangible fixed assets +€123,067
up €123,067 (+101.9%), from €120,724 to €243,791
of which Furniture and vehicles: +€124,158
- Cash +€26,031
up €26,031 (+10.6%), from €244,575 to €270,606
mainly Accrued charges and deferred income (+€267,381) and Net result for the year (+€219,727)
- Accrued charges and deferred income +€267,381
up €267,381 (+58.8%), from €455,000 to €722,381
- Profit (loss) carried forward +€218,055
up €218,055 (+83.8%), from -€260,147 to -€42,092
- Tax, wage and social debts +€110,478
up €110,478 (+34.1%), from €324,252 to €434,730
of which Taxes: +€141,826
- Trade debts -€58,454
down €58,454 (-28.7%), from €203,620 to €145,166
- Other debts -€51,374
down €51,374 (-100.0%), from €51,374 to €0
- Staff costs -€361,409
down €361,409 (-26.2%), from €1.4m to €1.0m
- Gross operating margin -€353,715
down €353,715 (-20.5%), from €1.7m to €1.4m
- Write-downs -€32,422
down €32,422 (-100.0%), from €32,422 to €0
- Financial income -€17,343
down €17,343 (-65.2%), from €26,591 to €9,248
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 | €794,643 | €1,292,374 | +€497,731 | +62.6% |
| Fixed assets | 21/28 | €120,724 | €249,959 | +€129,235 | +107.0% |
| Intangible fixed assets | 21 | - | €3,918 | +€3,918 | |
| Tangible fixed assets | 22/27 | €120,724 | €243,791 | +€123,067 | +101.9% |
| Plant, machinery and equipment | 23 | €5,234 | €5,902 | +€668 | +12.8% |
| Furniture and vehicles | 24 | €101,179 | €225,337 | +€124,158 | +122.7% |
| Other tangible fixed assets | 26 | €14,311 | €12,552 | -€1,759 | -12.3% |
| Financial fixed assets | 28 | - | €2,250 | +€2,250 | |
| Current assets | 29/58 | €673,919 | €1,042,415 | +€368,496 | +54.7% |
| Amounts receivable within one year | 40/41 | €410,012 | €749,282 | +€339,270 | +82.7% |
| Trade receivables | 40 | €332,200 | €426,786 | +€94,586 | +28.5% |
| Other amounts receivable | 41 | €77,812 | €322,495 | +€244,684 | +314.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €244,575 | €270,606 | +€26,031 | +10.6% |
| Deferred charges and accrued income | 490/1 | €19,332 | €22,527 | +€3,195 | +16.5% |
| Total equity and liabilities | 10/49 | €794,643 | €1,292,374 | +€497,731 | +62.6% |
| Equity | 10/15 | -€239,603 | -€21,548 | +€218,055 | +91.0% |
| Contributions | 10/11 | €3,947 | €3,947 | = | 0.0% |
| Reserves | 13 | €16,598 | €16,598 | = | 0.0% |
| Distributable reserves | 133 | €16,598 | €16,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€260,147 | -€42,092 | +€218,055 | +83.8% |
| Amounts payable | 17/49 | €1,034,246 | €1,313,922 | +€279,676 | +27.0% |
| Amounts payable within one year | 42/48 | €579,246 | €591,541 | +€12,295 | +2.1% |
| Financial debts | 43 | €0 | €11,645 | +€11,645 | |
| Credit institutions | 430/8 | €0 | €11,645 | +€11,645 | |
| Trade debts | 44 | €203,620 | €145,166 | -€58,454 | -28.7% |
| Suppliers | 440/4 | €203,620 | €145,166 | -€58,454 | -28.7% |
| Taxes, remuneration and social security | 45 | €324,252 | €434,730 | +€110,478 | +34.1% |
| Taxes | 450/3 | €7,273 | €149,099 | +€141,826 | +1950.0% |
| Remuneration and social security | 454/9 | €316,979 | €285,630 | -€31,348 | -9.9% |
| Other amounts payable | 47/48 | €51,374 | €0 | -€51,374 | -100.0% |
| Accrued charges and deferred income | 492/3 | €455,000 | €722,381 | +€267,381 | +58.8% |
| Non-recurring operating income | 76A | €8 | €63 | +€54 | +643.6% |
| Remuneration, social security and pensions | 62 | €1,379,363 | €1,017,954 | -€361,409 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,987 | €47,589 | +€8,602 | +22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,422 | €0 | -€32,422 | -100.0% |
| Other operating charges | 640/8 | €2,327 | €1,375 | -€953 | -40.9% |
| Non-recurring operating charges | 66A | €14,160 | €3,915 | -€10,245 | -72.4% |
| Gross operating margin | 9900 | €1,723,476 | €1,369,761 | -€353,715 | -20.5% |
| Operating profit (loss) | 9901 | €256,216 | €298,928 | +€42,712 | +16.7% |
| Financial income | 75/76B | €26,591 | €9,248 | -€17,343 | -65.2% |
| Recurring financial income | 75 | €26,591 | €9,248 | -€17,343 | -65.2% |
| Financial charges | 65/66B | €2,837 | €1,464 | -€1,373 | -48.4% |
| Recurring financial charges | 65 | €2,837 | €1,464 | -€1,373 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | €279,970 | €306,712 | +€26,742 | +9.6% |
| Income taxes | 67/77 | €85,117 | €86,985 | +€1,867 | +2.2% |
| Profit (loss) for the period | 9904 | €194,853 | €219,727 | +€24,875 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €194,853 | €219,727 | +€24,875 | +12.8% |
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.