COMBUVESDRE: 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.
COMBUVESDRE
Largest movements
- Receivables within one year +€462,129
up €462,129 (+891.2%), from €51,854 to €513,983
of which Other amounts receivable: +€458,805
- Current investments -€279,004
down €279,004 (-21.1%), from €1.3m to €1.0m
- Tangible fixed assets -€149,318
down €149,318 (-25.0%), from €597,123 to €447,805
of which Furniture and vehicles: -€99,390
- Stocks and contracts +€128,409
up €128,409 (+72.0%), from €178,406 to €306,815
- Cash +€35,195
up €35,195 (+5.0%), from €707,332 to €742,527
mainly Net result for the year (+€533,982) and Current investments (+€279,004)
- Trade debts -€187,289
down €187,289 (-24.4%), from €767,795 to €580,506
- Other debts +€150,000
up €150,000 (+49.5%), from €303,010 to €453,010
- Advances received +€131,007
up €131,007 (+204.3%), from €64,117 to €195,124
- Profit (loss) carried forward +€83,982
up €83,982 (+27.6%), from €304,140 to €388,122
- Gross operating margin +€191,961
up €191,961 (+20.2%), from €949,817 to €1.1m
- Staff costs -€52,303
down €52,303 (-12.7%), from €410,841 to €358,538
- Depreciation +€45,728
up €45,728 (+42.2%), from €108,484 to €154,212
- Other operating charges -€30,049
down €30,049 (-39.8%), from €75,542 to €45,494
- Write-downs +€26,496
no longer reported in 2025 (was -€26,496)
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 | €2,965,236 | €3,169,163 | +€203,927 | +6.9% |
| Fixed assets | 21/28 | €607,143 | €458,825 | -€148,318 | -24.4% |
| Tangible fixed assets | 22/27 | €597,123 | €447,805 | -€149,318 | -25.0% |
| Land and buildings | 22 | €92,415 | €75,832 | -€16,583 | -17.9% |
| Plant, machinery and equipment | 23 | €92,150 | €58,806 | -€33,345 | -36.2% |
| Furniture and vehicles | 24 | €412,558 | €313,168 | -€99,390 | -24.1% |
| Financial fixed assets | 28 | €10,020 | €11,020 | +€1,000 | +10.0% |
| Current assets | 29/58 | €2,358,093 | €2,710,338 | +€352,245 | +14.9% |
| Amounts receivable after more than one year | 29 | €65,000 | €65,000 | = | 0.0% |
| Other amounts receivable | 291 | €65,000 | €65,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €178,406 | €306,815 | +€128,409 | +72.0% |
| Stocks | 30/36 | €178,406 | €306,815 | +€128,409 | +72.0% |
| Amounts receivable within one year | 40/41 | €51,854 | €513,983 | +€462,129 | +891.2% |
| Trade receivables | 40 | €22,585 | €25,910 | +€3,325 | +14.7% |
| Other amounts receivable | 41 | €29,268 | €488,073 | +€458,805 | +1567.6% |
| Current investments | 50/53 | €1,319,949 | €1,040,945 | -€279,004 | -21.1% |
| Cash at bank and in hand | 54/58 | €707,332 | €742,527 | +€35,195 | +5.0% |
| Deferred charges and accrued income | 490/1 | €35,552 | €41,068 | +€5,516 | +15.5% |
| Total equity and liabilities | 10/49 | €2,965,236 | €3,169,163 | +€203,927 | +6.9% |
| Equity | 10/15 | €1,512,200 | €1,593,231 | +€81,032 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,174,710 | €1,174,710 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,927 | €70,927 | = | 0.0% |
| Distributable reserves | 133 | €1,103,782 | €1,103,782 | = | 0.0% |
| Profit (loss) carried forward | 14 | €304,140 | €388,122 | +€83,982 | +27.6% |
| Investment grants | 15 | €14,750 | €11,800 | -€2,950 | -20.0% |
| Amounts payable | 17/49 | €1,453,036 | €1,575,932 | +€122,895 | +8.5% |
| Amounts payable after more than one year | 17 | €258,674 | €271,675 | +€13,001 | +5.0% |
| Other amounts payable | 178/9 | €258,674 | €271,675 | +€13,001 | +5.0% |
| Amounts payable within one year | 42/48 | €1,180,366 | €1,296,896 | +€116,530 | +9.9% |
| Trade debts | 44 | €767,795 | €580,506 | -€187,289 | -24.4% |
| Suppliers | 440/4 | €767,795 | €580,506 | -€187,289 | -24.4% |
| Advances received on contracts in progress | 46 | €64,117 | €195,124 | +€131,007 | +204.3% |
| Taxes, remuneration and social security | 45 | €45,444 | €68,256 | +€22,812 | +50.2% |
| Taxes | 450/3 | €7,572 | €19,604 | +€12,032 | +158.9% |
| Remuneration and social security | 454/9 | €37,872 | €48,652 | +€10,780 | +28.5% |
| Other amounts payable | 47/48 | €303,010 | €453,010 | +€150,000 | +49.5% |
| Accrued charges and deferred income | 492/3 | €13,996 | €7,361 | -€6,636 | -47.4% |
| Remuneration, social security and pensions | 62 | €410,841 | €358,538 | -€52,303 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,484 | €154,212 | +€45,728 | +42.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,496 | - | +€26,496 | |
| Other operating charges | 640/8 | €75,542 | €45,494 | -€30,049 | -39.8% |
| Gross operating margin | 9900 | €949,817 | €1,141,778 | +€191,961 | +20.2% |
| Operating profit (loss) | 9901 | €381,445 | €583,534 | +€202,089 | +53.0% |
| Financial income | 75/76B | €22,374 | €26,105 | +€3,731 | +16.7% |
| Recurring financial income | 75 | €22,374 | €26,105 | +€3,731 | +16.7% |
| Financial charges | 65/66B | €30,770 | €47,283 | +€16,513 | +53.7% |
| Recurring financial charges | 65 | €30,770 | €37,543 | +€6,773 | +22.0% |
| Non-recurring financial charges | 66B | - | €9,740 | +€9,740 | |
| Profit (loss) for the period before taxes | 9903 | €373,050 | €562,356 | +€189,306 | +50.7% |
| Income taxes | 67/77 | €13,674 | €28,374 | +€14,700 | +107.5% |
| Profit (loss) for the period | 9904 | €359,375 | €533,982 | +€174,607 | +48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €359,375 | €533,982 | +€174,607 | +48.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.