Combiform: 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.
What changed
Combiform
NACE 46.831, Wholesale of construction materials, general range
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3,334
2024 · -€4,536+€1,202
Equity
€882,411
2024 · €885,745-€3,334
Cash
€729,815
2024 · €279,009+€450,806
Balance sheet total
€6.1m
2024 · €5.9m+€173,697
Largest movements
Assets
- Cash +€450,806
up €450,806 (+161.6%), from €279,009 to €729,815
mainly Other debts (+€255,020) and Depreciation (+€217,963)
- Tangible fixed assets -€152,116
down €152,116 (-14.6%), from €1.0m to €890,426
of which Plant, machinery and equipment: -€84,589
- Stocks and contracts -€131,993
down €131,993 (-3.3%), from €4.0m to €3.8m
Equity and liabilities
- Other debts +€255,020
up €255,020 (+7.9%), from €3.2m to €3.5m
- Trade debts +€187,934
up €187,934 (+33.2%), from €566,266 to €754,200
- Current portion of long-term debt -€156,435
down €156,435 (-64.4%), from €242,979 to €86,544
- Debts after one year -€86,544
down €86,544 (-16.2%), from €534,861 to €448,317
Income statement
- Goods and materials -€257,437
down €257,437 (-3.9%), from €6.7m to €6.4m
of which Change in stocks: decrease (increase): -€462,260
- Services and other goods +€181,758
up €181,758 (+7.6%), from €2.4m to €2.6m
- Other operating income -€132,349
down €132,349 (-86.3%), from €153,383 to €21,034
- Turnover -€119,579
down €119,579 (-1.1%), from €11.2m to €11.0m
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
-€4,536
Turnover
-€119,579
Other operating income
-€132,349
Goods and materials
+€257,437
Services and other goods
-€181,758
Staff costs
+€87,878
Depreciation
+€10,169
Write-downs
+€45,049
Other operating charges
-€6,517
Other operating items
+€50
Financial income
+€3,252
Financial charges
+€39,523
Taxes
-€1,953
Result 2025
-€3,334
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
+€729,632
Investment
-€35,847
Financing
-€242,979
Cash 2024
€279,009
From operations (derived)
+€729,632
Net result for the year
-€3,334
Depreciation
+€217,963
Stocks and contracts
+€131,993
Receivables within one year
-€31,320
Deferred charges and accrued income
-€5,679
Trade debts
+€187,934
Tax, wage and social debts
-€37,915
Advances received
+€409
Other debts
+€255,020
Accrued charges and deferred income
+€14,561
Investment (derived)
-€35,847
Investment in fixed assets (net)
-€35,847
Financing
-€242,979
Debts after one year
-€86,544
Current portion of long-term debt
-€156,435
Cash 2025
€729,815
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,933,006 | €6,106,702 | +€173,697 | +2.9% |
| Fixed assets | 21/28 | €1,248,722 | €1,066,606 | -€182,116 | -14.6% |
| Intangible fixed assets | 21 | €202,417 | €172,417 | -€30,000 | -14.8% |
| Tangible fixed assets | 22/27 | €1,042,542 | €890,426 | -€152,116 | -14.6% |
| Land and buildings | 22 | €615,498 | €562,495 | -€53,003 | -8.6% |
| Plant, machinery and equipment | 23 | €331,590 | €247,001 | -€84,589 | -25.5% |
| Furniture and vehicles | 24 | €95,454 | €80,930 | -€14,524 | -15.2% |
| Financial fixed assets | 28 | €3,763 | €3,763 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,763 | €3,763 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,763 | €3,763 | = | 0.0% |
| Current assets | 29/58 | €4,684,284 | €5,040,096 | +€355,812 | +7.6% |
| Stocks and contracts in progress | 3 | €3,968,823 | €3,836,830 | -€131,993 | -3.3% |
| Stocks | 30/36 | €3,968,823 | €3,836,830 | -€131,993 | -3.3% |
| Goods purchased for resale | 34 | €3,968,823 | €3,836,830 | -€131,993 | -3.3% |
| Amounts receivable within one year | 40/41 | €398,602 | €429,922 | +€31,320 | +7.9% |
| Trade receivables | 40 | €334,646 | €373,823 | +€39,176 | +11.7% |
| Other amounts receivable | 41 | €63,955 | €56,099 | -€7,856 | -12.3% |
| Cash at bank and in hand | 54/58 | €279,009 | €729,815 | +€450,806 | +161.6% |
| Deferred charges and accrued income | 490/1 | €37,850 | €43,529 | +€5,679 | +15.0% |
| Total equity and liabilities | 10/49 | €5,933,006 | €6,106,702 | +€173,697 | +2.9% |
| Equity | 10/15 | €885,745 | €882,411 | -€3,334 | -0.4% |
| Contributions | 10/11 | €555,202 | €555,202 | = | 0.0% |
| Capital | 10 | €555,202 | €555,202 | = | 0.0% |
| Issued capital | 100 | €555,202 | €555,202 | = | 0.0% |
| Reserves | 13 | €57,544 | €57,544 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,176 | €14,176 | = | 0.0% |
| Legal reserve | 130 | €14,176 | €14,176 | = | 0.0% |
| Distributable reserves | 133 | €43,368 | €43,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | €272,999 | €269,665 | -€3,334 | -1.2% |
| Amounts payable | 17/49 | €5,047,260 | €5,224,291 | +€177,031 | +3.5% |
| Amounts payable after more than one year | 17 | €534,861 | €448,317 | -€86,544 | -16.2% |
| Financial debts | 170/4 | €534,861 | €448,317 | -€86,544 | -16.2% |
| Subordinated loans | 170 | €90,000 | €90,000 | = | 0.0% |
| Credit institutions | 173 | €444,861 | €358,317 | -€86,544 | -19.5% |
| Amounts payable within one year | 42/48 | €4,451,333 | €4,700,347 | +€249,014 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €242,979 | €86,544 | -€156,435 | -64.4% |
| Trade debts | 44 | €566,266 | €754,200 | +€187,934 | +33.2% |
| Suppliers | 440/4 | €566,266 | €754,200 | +€187,934 | +33.2% |
| Advances received on contracts in progress | 46 | €4,994 | €5,403 | +€409 | +8.2% |
| Taxes, remuneration and social security | 45 | €410,340 | €372,425 | -€37,915 | -9.2% |
| Taxes | 450/3 | €201,680 | €171,469 | -€30,210 | -15.0% |
| Remuneration and social security | 454/9 | €208,661 | €200,956 | -€7,705 | -3.7% |
| Other amounts payable | 47/48 | €3,226,754 | €3,481,774 | +€255,020 | +7.9% |
| Accrued charges and deferred income | 492/3 | €61,067 | €75,627 | +€14,561 | +23.8% |
| Operating income | 70/76A | €11,319,987 | €11,068,059 | -€251,928 | -2.2% |
| Turnover | 70 | €11,166,604 | €11,047,024 | -€119,579 | -1.1% |
| Other operating income | 74 | €153,383 | €21,034 | -€132,349 | -86.3% |
| Operating charges | 60/66A | €11,172,846 | €10,960,538 | -€212,308 | -1.9% |
| Goods for resale, raw materials and consumables | 60 | €6,653,850 | €6,396,413 | -€257,437 | -3.9% |
| Purchases | 600/8 | €6,074,937 | €6,279,761 | +€204,823 | +3.4% |
| Change in stocks: decrease (increase) | 609 | €578,913 | €116,652 | -€462,260 | -79.8% |
| Services and other goods | 61 | €2,384,317 | €2,566,075 | +€181,758 | +7.6% |
| Remuneration, social security and pensions | 62 | €1,685,637 | €1,597,759 | -€87,878 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,131 | €217,963 | -€10,169 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,390 | €15,341 | -€45,049 | -74.6% |
| Other operating charges | 640/8 | €160,470 | €166,987 | +€6,517 | +4.1% |
| Non-recurring operating charges | 66A | €50 | €0 | -€50 | -100.0% |
| Operating profit (loss) | 9901 | €147,141 | €107,521 | -€39,620 | -26.9% |
| Financial income | 75/76B | €65,383 | €68,635 | +€3,252 | +5.0% |
| Recurring financial income | 75 | €65,383 | €68,635 | +€3,252 | +5.0% |
| Other financial income | 752/9 | €65,383 | €68,635 | +€3,252 | +5.0% |
| Financial charges | 65/66B | €215,081 | €175,558 | -€39,523 | -18.4% |
| Recurring financial charges | 65 | €215,081 | €175,558 | -€39,523 | -18.4% |
| Debt charges | 650 | €168,600 | €126,431 | -€42,170 | -25.0% |
| Other financial charges | 652/9 | €46,480 | €49,127 | +€2,646 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,557 | €598 | +€3,155 | |
| Income taxes | 67/77 | €1,979 | €3,932 | +€1,953 | +98.7% |
| Taxes | 670/3 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Tax adjustments and reversals of tax provisions | 77 | €21 | €68 | +€47 | +225.2% |
| Profit (loss) for the period | 9904 | -€4,536 | -€3,334 | +€1,202 | +26.5% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,536 | -€3,334 | +€1,202 | +26.5% |
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 11 October 2026 via checked.be.