COMESA: 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.
COMESA
Largest movements
- Cash -€9,208
down €9,208 (-12.6%), from €73,347 to €64,139
mainly Investment in fixed assets (net) (-€19,000) and Debts after one year (-€9,391)
- Receivables within one year -€8,377
down €8,377 (-36.0%), from €23,263 to €14,886
of which Trade receivables: -€8,571
- Tangible fixed assets +€3,875
up €3,875 (+3.9%), from €98,588 to €102,463
of which Plant, machinery and equipment: +€6,039
- Debts after one year -€9,391
down €9,391 (-65.9%), from €14,248 to €4,857
- Profit (loss) carried forward +€5,667
up €5,667 (+5.0%), from €113,737 to €119,403
- Tax, wage and social debts -€5,399
down €5,399 (-64.7%), from €8,342 to €2,944
of which Taxes: -€6,685
- Trade debts -€4,648
down €4,648 (-57.8%), from €8,046 to €3,398
- Gross operating margin -€30,592
down €30,592 (-54.2%), from €56,443 to €25,852
- Taxes -€5,837
down €5,837 (-78.6%), from €7,425 to €1,588
- Staff costs +€1,978
up €1,978 (+582.2%), from €340 to €2,318
- Depreciation +€1,846
up €1,846 (+13.9%), from €13,279 to €15,125
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 | €195,198 | €181,488 | -€13,710 | -7.0% |
| Fixed assets | 21/28 | €98,588 | €102,463 | +€3,875 | +3.9% |
| Tangible fixed assets | 22/27 | €98,588 | €102,463 | +€3,875 | +3.9% |
| Land and buildings | 22 | €11,957 | €9,794 | -€2,163 | -18.1% |
| Plant, machinery and equipment | 23 | €86,631 | €92,670 | +€6,039 | +7.0% |
| Current assets | 29/58 | €96,611 | €79,025 | -€17,585 | -18.2% |
| Amounts receivable within one year | 40/41 | €23,263 | €14,886 | -€8,377 | -36.0% |
| Trade receivables | 40 | €21,467 | €12,896 | -€8,571 | -39.9% |
| Other amounts receivable | 41 | €1,796 | €1,990 | +€194 | +10.8% |
| Cash at bank and in hand | 54/58 | €73,347 | €64,139 | -€9,208 | -12.6% |
| Total equity and liabilities | 10/49 | €195,198 | €181,488 | -€13,710 | -7.0% |
| Equity | 10/15 | €135,006 | €140,672 | +€5,667 | +4.2% |
| Contributions | 10/11 | €19,336 | €19,336 | = | 0.0% |
| Reserves | 13 | €1,934 | €1,934 | = | 0.0% |
| Distributable reserves | 133 | €1,934 | €1,934 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,737 | €119,403 | +€5,667 | +5.0% |
| Amounts payable | 17/49 | €60,192 | €40,816 | -€19,376 | -32.2% |
| Amounts payable after more than one year | 17 | €14,248 | €4,857 | -€9,391 | -65.9% |
| Financial debts | 170/4 | €14,248 | €4,857 | -€9,391 | -65.9% |
| Amounts payable within one year | 42/48 | €45,944 | €35,959 | -€9,985 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €9,109 | €9,170 | +€61 | +0.7% |
| Trade debts | 44 | €8,046 | €3,398 | -€4,648 | -57.8% |
| Suppliers | 440/4 | €8,046 | €3,398 | -€4,648 | -57.8% |
| Taxes, remuneration and social security | 45 | €8,342 | €2,944 | -€5,399 | -64.7% |
| Taxes | 450/3 | €8,273 | €1,588 | -€6,685 | -80.8% |
| Remuneration and social security | 454/9 | €69 | €1,355 | +€1,286 | +1870.6% |
| Other amounts payable | 47/48 | €20,448 | €20,448 | = | 0.0% |
| Non-recurring operating income | 76A | €18,500 | - | -€18,500 | |
| Remuneration, social security and pensions | 62 | €340 | €2,318 | +€1,978 | +582.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,279 | €15,125 | +€1,846 | +13.9% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €56,443 | €25,852 | -€30,592 | -54.2% |
| Operating profit (loss) | 9901 | €42,762 | €8,347 | -€34,415 | -80.5% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,041 | €1,094 | +€54 | +5.1% |
| Recurring financial charges | 65 | €1,041 | €1,094 | +€54 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €41,722 | €7,255 | -€34,467 | -82.6% |
| Income taxes | 67/77 | €7,425 | €1,588 | -€5,837 | -78.6% |
| Profit (loss) for the period | 9904 | €34,297 | €5,667 | -€28,630 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,297 | €5,667 | -€28,630 | -83.5% |
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 30 September 2026 via checked.be.