COMERCIO: 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.
COMERCIO
Largest movements
- Stocks and contracts -€126,718
down €126,718 (-100.0%), from €126,718 to €0
- Tangible fixed assets +€106,689
up €106,689 (+2.5%), from €4.3m to €4.4m
of which Assets under construction and advance payments: +€229,682
- Cash -€67,485
down €67,485 (-93.4%), from €72,262 to €4,777
mainly Debts after one year (-€253,592) and Advances received (-€230,000)
- Debts after one year -€253,592
down €253,592 (-10.7%), from €2.4m to €2.1m
- Advances received -€230,000
down €230,000 (-100.0%), from €230,000 to €0
- Other debts +€228,004
up €228,004 (+22.9%), from €997,107 to €1.2m
- Trade debts +€124,337
up €124,337, from €0 to €124,337
- Reserves +€65,970
up €65,970 (+24.4%), from €270,332 to €336,303
- Depreciation -€32,018
down €32,018 (-21.5%), from €148,835 to €116,817
- Other operating charges +€14,978
up €14,978 (+36.4%), from €41,105 to €56,083
- Financial charges +€13,246
up €13,246 (+9.5%), from €138,778 to €152,025
- Financial income -€6,138
down €6,138 (-32.7%), from €18,770 to €12,632
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 | €5,363,987 | €5,284,418 | -€79,569 | -1.5% |
| Fixed assets | 21/28 | €4,257,577 | €4,362,766 | +€105,189 | +2.5% |
| Tangible fixed assets | 22/27 | €4,252,070 | €4,358,759 | +€106,689 | +2.5% |
| Land and buildings | 22 | €3,293,742 | €3,175,243 | -€118,499 | -3.6% |
| Plant, machinery and equipment | 23 | €4,103 | €1,782 | -€2,321 | -56.6% |
| Furniture and vehicles | 24 | €9,933 | €13,089 | +€3,157 | +31.8% |
| Other tangible fixed assets | 26 | €28,128 | €22,799 | -€5,329 | -18.9% |
| Assets under construction and advance payments | 27 | €916,164 | €1,145,845 | +€229,682 | +25.1% |
| Financial fixed assets | 28 | €5,508 | €4,008 | -€1,500 | -27.2% |
| Current assets | 29/58 | €1,106,409 | €921,651 | -€184,758 | -16.7% |
| Stocks and contracts in progress | 3 | €126,718 | €0 | -€126,718 | -100.0% |
| Contracts in progress | 37 | €126,718 | €0 | -€126,718 | -100.0% |
| Amounts receivable within one year | 40/41 | €64,609 | €117,585 | +€52,976 | +82.0% |
| Trade receivables | 40 | €64,600 | €117,548 | +€52,948 | +82.0% |
| Other amounts receivable | 41 | €9 | €36 | +€28 | +326.9% |
| Current investments | 50/53 | €835,552 | €796,146 | -€39,407 | -4.7% |
| Cash at bank and in hand | 54/58 | €72,262 | €4,777 | -€67,485 | -93.4% |
| Deferred charges and accrued income | 490/1 | €7,267 | €3,144 | -€4,124 | -56.7% |
| Total equity and liabilities | 10/49 | €5,363,987 | €5,284,418 | -€79,569 | -1.5% |
| Equity | 10/15 | €1,119,138 | €1,159,993 | +€40,855 | +3.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €828,806 | €803,691 | -€25,115 | -3.0% |
| Reserves | 13 | €270,332 | €336,303 | +€65,970 | +24.4% |
| Distributable reserves | 133 | €270,332 | €336,303 | +€65,970 | +24.4% |
| Amounts payable | 17/49 | €4,244,849 | €4,124,424 | -€120,424 | -2.8% |
| Amounts payable after more than one year | 17 | €2,365,223 | €2,111,631 | -€253,592 | -10.7% |
| Financial debts | 170/4 | €2,365,223 | €2,111,631 | -€253,592 | -10.7% |
| Amounts payable within one year | 42/48 | €1,824,018 | €1,948,575 | +€124,557 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €251,547 | €254,867 | +€3,320 | +1.3% |
| Financial debts | 43 | €330,000 | €330,012 | +€12 | 0.0% |
| Credit institutions | 430/8 | €330,000 | €330,012 | +€12 | 0.0% |
| Trade debts | 44 | €0 | €124,337 | +€124,337 | |
| Suppliers | 440/4 | €0 | €124,337 | +€124,337 | |
| Advances received on contracts in progress | 46 | €230,000 | €0 | -€230,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,364 | €14,247 | -€1,117 | -7.3% |
| Taxes | 450/3 | €12,088 | €10,940 | -€1,147 | -9.5% |
| Remuneration and social security | 454/9 | €3,276 | €3,307 | +€31 | +0.9% |
| Other amounts payable | 47/48 | €997,107 | €1,225,111 | +€228,004 | +22.9% |
| Accrued charges and deferred income | 492/3 | €55,607 | €64,219 | +€8,612 | +15.5% |
| Non-recurring operating income | 76A | €193,115 | €0 | -€193,115 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,835 | €116,817 | -€32,018 | -21.5% |
| Other operating charges | 640/8 | €41,105 | €56,083 | +€14,978 | +36.4% |
| Gross operating margin | 9900 | €370,325 | €370,974 | +€650 | +0.2% |
| Operating profit (loss) | 9901 | €180,384 | €198,075 | +€17,690 | +9.8% |
| Financial income | 75/76B | €18,770 | €12,632 | -€6,138 | -32.7% |
| Recurring financial income | 75 | €18,770 | €12,632 | -€6,138 | -32.7% |
| Financial charges | 65/66B | €138,778 | €152,025 | +€13,246 | +9.5% |
| Recurring financial charges | 65 | €138,778 | €152,025 | +€13,246 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €60,376 | €58,682 | -€1,694 | -2.8% |
| Income taxes | 67/77 | €14,142 | €17,827 | +€3,684 | +26.1% |
| Profit (loss) for the period | 9904 | €46,234 | €40,855 | -€5,379 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,234 | €40,855 | -€5,379 | -11.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.