CombiNet: 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.
CombiNet
Largest movements
- Cash +€100,458
up €100,458 (+237.4%), from €42,317 to €142,775
mainly Net result for the year (+€94,234) and Receivables within one year (+€54,912)
- Receivables within one year -€54,912
down €54,912 (-68.4%), from €80,255 to €25,343
of which Trade receivables: -€56,599
- Current investments -€20,000
down €20,000 (-20.0%), from €100,000 to €80,000
- Reserves +€38,762
up €38,762 (+22.1%), from €175,200 to €213,962
- Tax, wage and social debts -€12,450
down €12,450 (-25.2%), from €49,386 to €36,936
of which Taxes: -€12,473
- Gross operating margin -€22,019
down €22,019 (-15.0%), from €147,030 to €125,011
- Taxes -€11,146
down €11,146 (-30.0%), from €37,146 to €26,000
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 | €228,623 | €255,145 | +€26,522 | +11.6% |
| Fixed assets | 21/28 | €3,430 | €4,879 | +€1,449 | +42.3% |
| Tangible fixed assets | 22/27 | €3,430 | €4,879 | +€1,449 | +42.3% |
| Plant, machinery and equipment | 23 | €3,430 | €2,075 | -€1,355 | -39.5% |
| Furniture and vehicles | 24 | - | €2,804 | +€2,804 | |
| Current assets | 29/58 | €225,193 | €250,266 | +€25,073 | +11.1% |
| Amounts receivable within one year | 40/41 | €80,255 | €25,343 | -€54,912 | -68.4% |
| Trade receivables | 40 | €80,255 | €23,655 | -€56,599 | -70.5% |
| Other amounts receivable | 41 | - | €1,687 | +€1,687 | |
| Current investments | 50/53 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €42,317 | €142,775 | +€100,458 | +237.4% |
| Deferred charges and accrued income | 490/1 | €2,621 | €2,149 | -€473 | -18.0% |
| Total equity and liabilities | 10/49 | €228,623 | €255,145 | +€26,522 | +11.6% |
| Equity | 10/15 | €178,728 | €216,962 | +€38,234 | +21.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €175,200 | €213,962 | +€38,762 | +22.1% |
| Distributable reserves | 133 | €175,200 | €213,962 | +€38,762 | +22.1% |
| Profit (loss) carried forward | 14 | €528 | €0 | -€528 | -100.0% |
| Amounts payable | 17/49 | €49,895 | €38,183 | -€11,711 | -23.5% |
| Amounts payable within one year | 42/48 | €49,895 | €38,183 | -€11,711 | -23.5% |
| Trade debts | 44 | €0 | €127 | +€127 | |
| Suppliers | 440/4 | €0 | €127 | +€127 | |
| Taxes, remuneration and social security | 45 | €49,386 | €36,936 | -€12,450 | -25.2% |
| Taxes | 450/3 | €46,319 | €33,846 | -€12,473 | -26.9% |
| Remuneration and social security | 454/9 | €3,066 | €3,090 | +€24 | +0.8% |
| Other amounts payable | 47/48 | €509 | €1,120 | +€612 | +120.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,355 | €1,773 | +€418 | +30.9% |
| Other operating charges | 640/8 | €862 | €585 | -€278 | -32.2% |
| Gross operating margin | 9900 | €147,030 | €125,011 | -€22,019 | -15.0% |
| Operating profit (loss) | 9901 | €144,813 | €122,653 | -€22,160 | -15.3% |
| Financial income | 75/76B | €1,816 | €408 | -€1,408 | -77.5% |
| Recurring financial income | 75 | €1,816 | €408 | -€1,408 | -77.5% |
| Financial charges | 65/66B | €2,990 | €2,827 | -€163 | -5.4% |
| Recurring financial charges | 65 | €2,990 | €2,827 | -€163 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €143,639 | €120,234 | -€23,405 | -16.3% |
| Income taxes | 67/77 | €37,146 | €26,000 | -€11,146 | -30.0% |
| Profit (loss) for the period | 9904 | €106,493 | €94,234 | -€12,259 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €106,493 | €94,234 | -€12,259 | -11.5% |
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 2 October 2026 via checked.be.