Combi-Invest: 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.
Combi-Invest
Largest movements
- Receivables within one year +€27,778
up €27,778 (+38.4%), from €72,395 to €100,172
of which Trade receivables: +€39,545
- Cash -€1,766
down €1,766 (-75.4%), from €2,341 to €576
mainly Receivables within one year (-€27,778) and Trade debts (-€7,835)
- Other debts +€21,300
up €21,300 (+5.9%), from €358,084 to €379,383
- Profit (loss) carried forward +€8,601
up €8,601 (+2.6%), from -€334,289 to -€325,688
- Trade debts -€7,835
down €7,835 (-12.4%), from €63,120 to €55,285
- Tax, wage and social debts +€2,910
up €2,910 (+42.4%), from €6,863 to €9,774
of which Remuneration and social security: +€3,884
- Gross operating margin +€19,684
up €19,684 (+133%), from €14,768 to €34,452
- Other operating charges -€10,395
down €10,395 (-92.4%), from €11,244 to €849
- Financial income +€1,595
new in 2025: €1,595
- Staff costs -€842
down €842 (-3.2%), from €26,048 to €25,206
- Depreciation -€732
down €732 (-53.4%), from €1,370 to €639
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 | €114,058 | €139,034 | +€24,976 | +21.9% |
| Fixed assets | 21/28 | €1,019 | €380 | -€639 | -62.7% |
| Tangible fixed assets | 22/27 | €1,019 | €380 | -€639 | -62.7% |
| Plant, machinery and equipment | 23 | €786 | €368 | -€418 | -53.1% |
| Furniture and vehicles | 24 | €233 | €12 | -€221 | -95.0% |
| Current assets | 29/58 | €113,039 | €138,654 | +€25,615 | +22.7% |
| Stocks and contracts in progress | 3 | €37,352 | €37,352 | = | 0.0% |
| Stocks | 30/36 | €37,352 | €37,352 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €72,395 | €100,172 | +€27,778 | +38.4% |
| Trade receivables | 40 | €33,240 | €72,785 | +€39,545 | +119% |
| Other amounts receivable | 41 | €39,155 | €27,387 | -€11,768 | -30.1% |
| Cash at bank and in hand | 54/58 | €2,341 | €576 | -€1,766 | -75.4% |
| Deferred charges and accrued income | 490/1 | €951 | €554 | -€397 | -41.7% |
| Total equity and liabilities | 10/49 | €114,058 | €139,034 | +€24,976 | +21.9% |
| Equity | 10/15 | -€314,289 | -€305,688 | +€8,601 | +2.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€334,289 | -€325,688 | +€8,601 | +2.6% |
| Amounts payable | 17/49 | €428,347 | €444,722 | +€16,375 | +3.8% |
| Amounts payable within one year | 42/48 | €428,347 | €444,722 | +€16,375 | +3.8% |
| Financial debts | 43 | €280 | €280 | = | 0.0% |
| Credit institutions | 430/8 | €280 | €280 | = | 0.0% |
| Trade debts | 44 | €63,120 | €55,285 | -€7,835 | -12.4% |
| Suppliers | 440/4 | €63,120 | €55,285 | -€7,835 | -12.4% |
| Taxes, remuneration and social security | 45 | €6,863 | €9,774 | +€2,910 | +42.4% |
| Taxes | 450/3 | €1,499 | €525 | -€974 | -65.0% |
| Remuneration and social security | 454/9 | €5,364 | €9,249 | +€3,884 | +72.4% |
| Other amounts payable | 47/48 | €358,084 | €379,383 | +€21,300 | +5.9% |
| Remuneration, social security and pensions | 62 | €26,048 | €25,206 | -€842 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,370 | €639 | -€732 | -53.4% |
| Other operating charges | 640/8 | €11,244 | €849 | -€10,395 | -92.4% |
| Gross operating margin | 9900 | €14,768 | €34,452 | +€19,684 | +133% |
| Operating profit (loss) | 9901 | -€23,895 | €7,758 | +€31,653 | |
| Financial income | 75/76B | - | €1,595 | +€1,595 | |
| Recurring financial income | 75 | - | €1,595 | +€1,595 | |
| Financial charges | 65/66B | €1,083 | €752 | -€331 | -30.5% |
| Recurring financial charges | 65 | €1,083 | €752 | -€331 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | -€24,977 | €8,601 | +€33,579 | |
| Profit (loss) for the period | 9904 | -€24,977 | €8,601 | +€33,579 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,977 | €8,601 | +€33,579 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.