COMEFIN: 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.
COMEFIN
Largest movements
- Current investments -€344,001
down €344,001 (-50.1%), from €687,120 to €343,120
- Tangible fixed assets -€54,854
down €54,854 (-4.4%), from €1.3m to €1.2m
- Cash -€43,834
down €43,834 (-64.3%), from €68,217 to €24,383
mainly Debts after one year (-€360,000) and Other debts (-€145,344)
- Debts after one year -€360,000
down €360,000 (-99.9%), from €360,200 to €200
- Other debts -€145,344
down €145,344 (-89.5%), from €162,361 to €17,017
- Reserves +€64,907
up €64,907 (+5.9%), from €1.1m to €1.2m
of which Distributable reserves: +€87,636
- Financial income +€56,482
up €56,482 (+1620.7%), from €3,485 to €59,967
- Gross operating margin -€15,504
down €15,504 (-14.7%), from €105,783 to €90,278
- Provisions +€11,000
no longer reported in 2025 (was -€11,000)
- Taxes +€1,654
up €1,654 (+6.2%), from €26,640 to €28,294
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 | €2,022,210 | €1,572,155 | -€450,054 | -22.3% |
| Fixed assets | 21/28 | €1,259,507 | €1,204,653 | -€54,854 | -4.4% |
| Tangible fixed assets | 22/27 | €1,259,507 | €1,204,653 | -€54,854 | -4.4% |
| Land and buildings | 22 | €1,259,507 | €1,204,653 | -€54,854 | -4.4% |
| Current assets | 29/58 | €762,703 | €367,503 | -€395,201 | -51.8% |
| Amounts receivable within one year | 40/41 | €7,366 | - | -€7,366 | |
| Trade receivables | 40 | €7,366 | - | -€7,366 | |
| Current investments | 50/53 | €687,120 | €343,120 | -€344,001 | -50.1% |
| Cash at bank and in hand | 54/58 | €68,217 | €24,383 | -€43,834 | -64.3% |
| Total equity and liabilities | 10/49 | €2,022,210 | €1,572,155 | -€450,054 | -22.3% |
| Equity | 10/15 | €1,310,028 | €1,374,935 | +€64,907 | +5.0% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €1,092,623 | €1,157,530 | +€64,907 | +5.9% |
| Non-distributable reserves | 130/1 | €38,500 | €38,500 | = | 0.0% |
| Legal reserve | 130 | €38,500 | €38,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €370,172 | €347,443 | -€22,729 | -6.1% |
| Distributable reserves | 133 | €683,950 | €771,587 | +€87,636 | +12.8% |
| Profit (loss) carried forward | 14 | €147,405 | €147,405 | = | 0.0% |
| Provisions and deferred taxes | 16 | €188,351 | €176,872 | -€11,479 | -6.1% |
| Deferred taxes | 168 | €188,351 | €176,872 | -€11,479 | -6.1% |
| Amounts payable | 17/49 | €523,831 | €20,349 | -€503,482 | -96.1% |
| Amounts payable after more than one year | 17 | €360,200 | €200 | -€360,000 | -99.9% |
| Other amounts payable | 178/9 | €360,200 | €200 | -€360,000 | -99.9% |
| Amounts payable within one year | 42/48 | €162,889 | €19,243 | -€143,646 | -88.2% |
| Trade debts | 44 | €30 | €498 | +€468 | +1558.4% |
| Suppliers | 440/4 | €30 | €498 | +€468 | +1558.4% |
| Taxes, remuneration and social security | 45 | €498 | €1,729 | +€1,231 | +247.3% |
| Taxes | 450/3 | €498 | €1,729 | +€1,231 | +247.3% |
| Other amounts payable | 47/48 | €162,361 | €17,017 | -€145,344 | -89.5% |
| Accrued charges and deferred income | 492/3 | €742 | €906 | +€164 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,854 | €54,854 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€11,000 | - | +€11,000 | |
| Other operating charges | 640/8 | €13,230 | €13,640 | +€410 | +3.1% |
| Gross operating margin | 9900 | €105,783 | €90,278 | -€15,504 | -14.7% |
| Operating profit (loss) | 9901 | €48,699 | €21,785 | -€26,915 | -55.3% |
| Financial income | 75/76B | €3,485 | €59,967 | +€56,482 | +1620.7% |
| Recurring financial income | 75 | €3,485 | €59,967 | +€56,482 | +1620.7% |
| Financial charges | 65/66B | €475 | €30 | -€445 | -93.7% |
| Recurring financial charges | 65 | €475 | €30 | -€445 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €51,709 | €81,722 | +€30,012 | +58.0% |
| Transfer from deferred taxes | 780 | €11,479 | €11,479 | = | 0.0% |
| Income taxes | 67/77 | €26,640 | €28,294 | +€1,654 | +6.2% |
| Profit (loss) for the period | 9904 | €36,549 | €64,907 | +€28,359 | +77.6% |
| Transfer from tax-exempt reserves | 789 | €22,729 | €22,729 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,278 | €87,636 | +€28,359 | +47.8% |
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.