Combi 2000: 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
Combi 2000
NACE 46.832, Wholesale of timber
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€468,290
2024 · €634,129-€165,839
Equity
€6.3m
2024 · €6.0m+€236,711
Cash
€618,765
2024 · €232,703+€386,062
Balance sheet total
€7.3m
2024 · €7.0m+€281,606
Largest movements
Assets
- Cash +€386,062
up €386,062 (+165.9%), from €232,703 to €618,765
mainly Net result for the year (+€468,290) and Trade debts (+€217,394)
- Tangible fixed assets -€114,311
down €114,311 (-4.1%), from €2.8m to €2.7m
of which Land and buildings: -€98,657
- Current investments -€86,661
down €86,661 (-26.8%), from €323,134 to €236,473
Equity and liabilities
- Reserves +€236,711
up €236,711 (+4.2%), from €5.6m to €5.9m
of which Distributable reserves: +€236,711
- Trade debts +€217,394
up €217,394 (+267.6%), from €81,251 to €298,645
- Debts after one year -€153,786
down €153,786 (-28.6%), from €538,252 to €384,466
Income statement
- Gross operating margin -€120,842
down €120,842 (-6.0%), from €2.0m to €1.9m
- Other operating charges +€70,076
up €70,076 (+87.2%), from €80,321 to €150,397
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
€634,129
Gross operating margin
-€120,842
Staff costs
+€10,145
Depreciation
+€7,148
Other operating charges
-€70,076
Financial income
-€79
Financial charges
-€6,467
Taxes
+€14,332
Result 2025
€468,290
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
+€787,477
Investment
+€51,476
Financing
-€452,890
Cash 2024
€232,703
From operations (derived)
+€787,477
Net result for the year
+€468,290
Depreciation
+€145,737
Stocks and contracts
-€59,767
Receivables within one year
-€22,308
Deferred charges and accrued income
-€10,681
Trade debts
+€217,394
Tax, wage and social debts
+€48,813
Investment (derived)
+€51,476
Investment in fixed assets (net)
-€35,186
Current investments
+€86,661
Financing
-€452,890
Debts after one year
-€153,786
Short-term financial debts
-€67,525
Contributions, distributions and other
-€231,579
Cash 2025
€618,765
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,022,900 | €7,304,506 | +€281,606 | +4.0% |
| Fixed assets | 21/28 | €3,576,687 | €3,466,136 | -€110,551 | -3.1% |
| Tangible fixed assets | 22/27 | €2,784,239 | €2,669,928 | -€114,311 | -4.1% |
| Land and buildings | 22 | €2,590,431 | €2,491,774 | -€98,657 | -3.8% |
| Plant, machinery and equipment | 23 | €184,986 | €165,030 | -€19,956 | -10.8% |
| Furniture and vehicles | 24 | €8,823 | €13,124 | +€4,301 | +48.8% |
| Financial fixed assets | 28 | €792,448 | €796,208 | +€3,760 | +0.5% |
| Current assets | 29/58 | €3,446,212 | €3,838,370 | +€392,158 | +11.4% |
| Stocks and contracts in progress | 3 | €2,271,646 | €2,331,413 | +€59,767 | +2.6% |
| Stocks | 30/36 | €2,271,646 | €2,331,413 | +€59,767 | +2.6% |
| Amounts receivable within one year | 40/41 | €612,978 | €635,286 | +€22,308 | +3.6% |
| Trade receivables | 40 | €45,327 | €48,379 | +€3,052 | +6.7% |
| Other amounts receivable | 41 | €567,651 | €586,907 | +€19,256 | +3.4% |
| Current investments | 50/53 | €323,134 | €236,473 | -€86,661 | -26.8% |
| Cash at bank and in hand | 54/58 | €232,703 | €618,765 | +€386,062 | +165.9% |
| Deferred charges and accrued income | 490/1 | €5,751 | €16,433 | +€10,681 | +185.7% |
| Total equity and liabilities | 10/49 | €7,022,900 | €7,304,506 | +€281,606 | +4.0% |
| Equity | 10/15 | €6,018,886 | €6,255,597 | +€236,711 | +3.9% |
| Contributions | 10/11 | €380,920 | €380,920 | = | 0.0% |
| Capital | 10 | €380,920 | €380,920 | = | 0.0% |
| Issued capital | 100 | €380,920 | €380,920 | = | 0.0% |
| Reserves | 13 | €5,637,966 | €5,874,677 | +€236,711 | +4.2% |
| Non-distributable reserves | 130/1 | €38,092 | €38,092 | = | 0.0% |
| Legal reserve | 130 | €38,092 | €38,092 | = | 0.0% |
| Distributable reserves | 133 | €5,599,874 | €5,836,585 | +€236,711 | +4.2% |
| Amounts payable | 17/49 | €1,004,014 | €1,048,909 | +€44,895 | +4.5% |
| Amounts payable after more than one year | 17 | €538,252 | €384,466 | -€153,786 | -28.6% |
| Financial debts | 170/4 | €538,252 | €384,466 | -€153,786 | -28.6% |
| Amounts payable within one year | 42/48 | €465,761 | €664,443 | +€198,682 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €153,786 | €153,786 | = | 0.0% |
| Financial debts | 43 | €67,525 | - | -€67,525 | |
| Credit institutions | 430/8 | €67,525 | - | -€67,525 | |
| Trade debts | 44 | €81,251 | €298,645 | +€217,394 | +267.6% |
| Suppliers | 440/4 | €81,251 | €298,645 | +€217,394 | +267.6% |
| Taxes, remuneration and social security | 45 | €163,179 | €211,991 | +€48,813 | +29.9% |
| Taxes | 450/3 | €75,044 | €127,548 | +€52,504 | +70.0% |
| Remuneration and social security | 454/9 | €88,135 | €84,443 | -€3,691 | -4.2% |
| Other amounts payable | 47/48 | €20 | €20 | = | 0.0% |
| Non-recurring operating income | 76A | €17,826 | - | -€17,826 | |
| Remuneration, social security and pensions | 62 | €877,852 | €867,707 | -€10,145 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,885 | €145,737 | -€7,148 | -4.7% |
| Other operating charges | 640/8 | €80,321 | €150,397 | +€70,076 | +87.2% |
| Gross operating margin | 9900 | €2,024,436 | €1,903,594 | -€120,842 | -6.0% |
| Operating profit (loss) | 9901 | €913,378 | €739,752 | -€173,625 | -19.0% |
| Financial income | 75/76B | €3,716 | €3,637 | -€79 | -2.1% |
| Recurring financial income | 75 | €3,716 | €3,637 | -€79 | -2.1% |
| Financial charges | 65/66B | €26,673 | €33,140 | +€6,467 | +24.2% |
| Recurring financial charges | 65 | €26,673 | €33,140 | +€6,467 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €890,420 | €710,249 | -€180,171 | -20.2% |
| Income taxes | 67/77 | €256,291 | €241,959 | -€14,332 | -5.6% |
| Profit (loss) for the period | 9904 | €634,129 | €468,290 | -€165,839 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €634,129 | €468,290 | -€165,839 | -26.2% |
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 30 September 2026 via checked.be.