COMBICO: what changed
What changed
COMBICO
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€119,120
2024 · €42,288+€76,831
Equity
€59,580
2024 · €20,460+€39,120
Cash
€15,844
2024 · -+€15,844
Balance sheet total
€199,583
2024 · €142,493+€57,090
Largest movements
Assets
- Receivables within one year +€52,494
up €52,494 (+54.4%), from €96,408 to €148,902
of which Trade receivables: +€42,008
- Cash +€15,844
new in 2025: €15,844
mainly Net result for the year (+€119,120) and Other debts (+€36,814)
- Tangible fixed assets -€9,571
down €9,571 (-23.6%), from €40,625 to €31,055
Equity and liabilities
- Profit (loss) carried forward +€39,120
new in 2025: €39,120
- Other debts +€36,814
up €36,814 (+85.2%), from €43,186 to €80,000
- Tax, wage and social debts -€21,335
down €21,335 (-79.2%), from €26,928 to €5,593
of which Taxes: -€21,354
- Short-term financial debts +€15,480
up €15,480 (+204%), from €7,576 to €23,056
of which Other loans: +€16,657
- Debts after one year -€7,788
down €7,788 (-25.9%), from €30,053 to €22,265
Income statement
- Gross operating margin +€111,565
up €111,565 (+110%), from €101,229 to €212,794
- Taxes +€24,159
up €24,159 (+155%), from €15,558 to €39,716
- Depreciation +€5,488
up €5,488 (+134%), from €4,083 to €9,571
- Financial income -€4,993
down €4,993 (-96.8%), from €5,159 to €167
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€42,288
Gross operating margin
+€111,565
Staff costs
-€878
Depreciation
-€5,488
Other operating charges
+€1,300
Financial income
-€4,993
Financial charges
-€516
Taxes
-€24,159
Result 2025
€119,120
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€87,864
Investment
€0
Financing
-€72,019
Cash 2024
€0
From operations (derived)
+€87,864
Net result for the year
+€119,120
Depreciation
+€9,571
Receivables within one year
-€52,494
Deferred charges and accrued income
+€1,678
Trade debts
-€5,103
Tax, wage and social debts
-€21,335
Other debts
+€36,814
Accrued charges and deferred income
-€387
Financing
-€72,019
Debts after one year
-€7,788
Current portion of long-term debt
+€289
Short-term financial debts
+€15,480
Contributions, distributions and other
-€80,000
Cash 2025
€15,844
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,493 | €199,583 | +€57,090 | +40.1% |
| Fixed assets | 21/28 | €43,125 | €33,555 | -€9,571 | -22.2% |
| Tangible fixed assets | 22/27 | €40,625 | €31,055 | -€9,571 | -23.6% |
| Furniture and vehicles | 24 | €40,625 | €31,055 | -€9,571 | -23.6% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €99,368 | €166,029 | +€66,660 | +67.1% |
| Amounts receivable within one year | 40/41 | €96,408 | €148,902 | +€52,494 | +54.4% |
| Trade receivables | 40 | - | €42,008 | +€42,008 | |
| Other amounts receivable | 41 | €96,408 | €106,894 | +€10,486 | +10.9% |
| Cash at bank and in hand | 54/58 | - | €15,844 | +€15,844 | |
| Deferred charges and accrued income | 490/1 | €2,960 | €1,282 | -€1,678 | -56.7% |
| Total equity and liabilities | 10/49 | €142,493 | €199,583 | +€57,090 | +40.1% |
| Equity | 10/15 | €20,460 | €59,580 | +€39,120 | +191% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €39,120 | +€39,120 | |
| Amounts payable | 17/49 | €122,033 | €140,003 | +€17,970 | +14.7% |
| Amounts payable after more than one year | 17 | €30,053 | €22,265 | -€7,788 | -25.9% |
| Financial debts | 170/4 | €30,053 | €22,265 | -€7,788 | -25.9% |
| Amounts payable within one year | 42/48 | €91,593 | €117,738 | +€26,145 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €7,499 | €7,788 | +€289 | +3.8% |
| Financial debts | 43 | €7,576 | €23,056 | +€15,480 | +204% |
| Credit institutions | 430/8 | €1,177 | - | -€1,177 | |
| Other loans | 439 | €6,399 | €23,056 | +€16,657 | +260% |
| Trade debts | 44 | €6,403 | €1,301 | -€5,103 | -79.7% |
| Suppliers | 440/4 | €6,403 | €1,301 | -€5,103 | -79.7% |
| Taxes, remuneration and social security | 45 | €26,928 | €5,593 | -€21,335 | -79.2% |
| Taxes | 450/3 | €21,354 | - | -€21,354 | |
| Remuneration and social security | 454/9 | €5,574 | €5,593 | +€19 | +0.3% |
| Other amounts payable | 47/48 | €43,186 | €80,000 | +€36,814 | +85.2% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Remuneration, social security and pensions | 62 | €39,852 | €40,730 | +€878 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,083 | €9,571 | +€5,488 | +134% |
| Other operating charges | 640/8 | €1,769 | €470 | -€1,300 | -73.4% |
| Gross operating margin | 9900 | €101,229 | €212,794 | +€111,565 | +110% |
| Operating profit (loss) | 9901 | €55,525 | €162,023 | +€106,498 | +192% |
| Financial income | 75/76B | €5,159 | €167 | -€4,993 | -96.8% |
| Recurring financial income | 75 | €5,159 | €167 | -€4,993 | -96.8% |
| Financial charges | 65/66B | €2,838 | €3,354 | +€516 | +18.2% |
| Recurring financial charges | 65 | €2,838 | €3,354 | +€516 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €57,846 | €158,836 | +€100,990 | +175% |
| Income taxes | 67/77 | €15,558 | €39,716 | +€24,159 | +155% |
| Profit (loss) for the period | 9904 | €42,288 | €119,120 | +€76,831 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €42,288 | €119,120 | +€76,831 | +182% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.