COMBULEC: 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.
COMBULEC
Largest movements
- Cash +€154
up €154 (+129.4%), from €119 to €273
mainly Other debts (+€2,814) and Current portion of long-term debt (+€500)
- Profit (loss) carried forward -€2,897
down €2,897 (-1.5%), from -€192,440 to -€195,337
- Other debts +€2,814
up €2,814 (+2.4%), from €115,068 to €117,882
- Current portion of long-term debt +€500
new in 2025: €500
- Trade debts -€250
down €250 (-31.4%), from €795 to €545
- Gross operating margin +€1,797
up €1,797 (+41.0%), from -€4,383 to -€2,586
- Purchases and services -€511
down €511 (-2.5%), from €20,213 to €19,702
- Taxes -€103
no longer reported in 2025 (was €103)
- Financial charges -€79
down €79 (-20.3%), from €390 to €311
- Other operating charges -€64
no longer reported in 2025 (was €64)
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 | €6,693 | €6,860 | +€167 | +2.5% |
| Current assets | 29/58 | €6,693 | €6,860 | +€167 | +2.5% |
| Amounts receivable within one year | 40/41 | €6,574 | €6,587 | +€13 | +0.2% |
| Other amounts receivable | 41 | €6,574 | €6,587 | +€13 | +0.2% |
| Cash at bank and in hand | 54/58 | €119 | €273 | +€154 | +129.4% |
| Total equity and liabilities | 10/49 | €6,693 | €6,860 | +€167 | +2.5% |
| Equity | 10/15 | -€121,336 | -€124,233 | -€2,897 | -2.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €9,131 | €9,131 | = | 0.0% |
| Non-distributable reserves | 130/1 | €221 | €221 | = | 0.0% |
| Legal reserve | 130 | €221 | €221 | = | 0.0% |
| Distributable reserves | 133 | €8,910 | €8,910 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,440 | -€195,337 | -€2,897 | -1.5% |
| Amounts payable | 17/49 | €128,029 | €131,093 | +€3,064 | +2.4% |
| Amounts payable after more than one year | 17 | €12,166 | €12,166 | = | 0.0% |
| Financial debts | 170/4 | €12,166 | €12,166 | = | 0.0% |
| Amounts payable within one year | 42/48 | €115,863 | €118,927 | +€3,064 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | - | €500 | +€500 | |
| Trade debts | 44 | €795 | €545 | -€250 | -31.4% |
| Suppliers | 440/4 | €795 | €545 | -€250 | -31.4% |
| Other amounts payable | 47/48 | €115,068 | €117,882 | +€2,814 | +2.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €20,213 | €19,702 | -€511 | -2.5% |
| Other operating charges | 640/8 | €64 | - | -€64 | |
| Gross operating margin | 9900 | -€4,383 | -€2,586 | +€1,797 | +41.0% |
| Operating profit (loss) | 9901 | -€4,447 | -€2,586 | +€1,861 | +41.8% |
| Financial charges | 65/66B | €390 | €311 | -€79 | -20.3% |
| Recurring financial charges | 65 | €390 | €311 | -€79 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,837 | -€2,897 | +€1,940 | +40.1% |
| Income taxes | 67/77 | €103 | - | -€103 | |
| Profit (loss) for the period | 9904 | -€4,940 | -€2,897 | +€2,043 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,940 | -€2,897 | +€2,043 | +41.4% |
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 6 October 2026 via checked.be.