COMETSAMBRE: 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.
What changed
COMETSAMBRE
NACE 38.210, Materials recovery from waste
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€12.4m
2024 · -€635,748-€11.8m
Equity
€23.6m
2024 · €36.1m-€12.5m
Cash
€1.6m
2024 · €6.0m-€4.4m
Balance sheet total
€91.0m
2024 · €126.9m-€35.9m
Largest movements
Assets
- Stocks and contracts -€26.6m
down €26.6m (-42.7%), from €62.3m to €35.7m
- Cash -€4.4m
down €4.4m (-73.4%), from €6.0m to €1.6m
mainly Short-term financial debts (-€19.5m) and Net result for the year (-€12.4m)
- Receivables within one year -€2.6m
down €2.6m (-9.4%), from €27.3m to €24.8m
of which Trade receivables: -€2.1m
- Tangible fixed assets -€1.6m
down €1.6m (-10.4%), from €15.3m to €13.7m
Equity and liabilities
- Short-term financial debts -€19.5m
down €19.5m (-36.5%), from €53.4m to €33.9m
of which Credit institutions: -€11.8m
- Profit (loss) carried forward -€12.3m
down €12.3m (-2181.0%), from -€565,409 to -€12.9m
- Trade debts -€2.6m
down €2.6m (-12.4%), from €21.1m to €18.4m
- Debts after one year -€1.4m
down €1.4m (-13.0%), from €10.9m to €9.5m
Income statement
- Goods and materials -€12.2m
down €12.2m (-5.8%), from €208.8m to €196.6m
of which Purchases: -€47.9m
- Turnover +€7.2m
up €7.2m (+3.0%), from €240.3m to €247.5m
- Financial charges +€6.2m
up €6.2m (+239.8%), from €2.6m to €8.8m
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.
Result 2024
-€635,748
Turnover
+€7.2m
Other operating income
-€743,738
Goods and materials
+€12.2m
Services and other goods
-€2.0m
Staff costs
-€370,969
Depreciation
-€32,800
Other operating charges
-€70,641
Other operating items
-€22.4m
Financial income
+€682,389
Financial charges
-€6.2m
Taxes
-€315
Deferred taxes and other
-€71
Result 2025
-€12.4m
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.
From operations
+€18.6m
Investment
-€2.2m
Financing
-€20.8m
Cash 2024
€6.0m
From operations (derived)
+€18.6m
Net result for the year
-€12.4m
Depreciation
+€3.8m
Stocks and contracts
+€26.6m
Receivables within one year
+€2.6m
Deferred charges and accrued income
+€689,552
Smaller working-capital items
-€61,896
Trade debts
-€2.6m
Advances received
+€260,797
Accrued charges and deferred income
-€246,941
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Financing
-€20.8m
Debts after one year
-€1.4m
Current portion of long-term debt
+€143,609
Short-term financial debts
-€19.5m
Contributions, distributions and other
-€61,352
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,872,335 | €90,964,893 | -€35.9m | -28.3% |
| Fixed assets | 21/28 | €22,092,324 | €20,479,431 | -€1.6m | -7.3% |
| Intangible fixed assets | 21 | €0 | €85,735 | +€85,735 | |
| Tangible fixed assets | 22/27 | €15,305,553 | €13,720,699 | -€1.6m | -10.4% |
| Land and buildings | 22 | €5,090,868 | €4,376,038 | -€714,830 | -14.0% |
| Plant, machinery and equipment | 23 | €4,987,286 | €4,855,684 | -€131,602 | -2.6% |
| Furniture and vehicles | 24 | €172,784 | €128,361 | -€44,422 | -25.7% |
| Leasing and similar rights | 25 | €4,235,945 | €3,522,955 | -€712,990 | -16.8% |
| Other tangible fixed assets | 26 | €535,301 | €672,575 | +€137,274 | +25.6% |
| Assets under construction and advance payments | 27 | €283,368 | €165,086 | -€118,282 | -41.7% |
| Financial fixed assets | 28 | €6,786,771 | €6,672,996 | -€113,775 | -1.7% |
| Affiliated companies | 280/1 | €6,707,171 | €6,593,396 | -€113,775 | -1.7% |
| Participating interests | 280 | €5,375,171 | €5,375,171 | = | 0.0% |
| Amounts receivable | 281 | €1,332,000 | €1,218,225 | -€113,775 | -8.5% |
| Other financial fixed assets | 284/8 | €79,600 | €79,600 | = | 0.0% |
| Shares | 284 | €29,491 | €29,491 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €50,109 | €50,109 | = | 0.0% |
| Current assets | 29/58 | €104,780,011 | €70,485,462 | -€34.3m | -32.7% |
| Stocks and contracts in progress | 3 | €62,335,596 | €35,713,608 | -€26.6m | -42.7% |
| Stocks | 30/36 | €62,335,596 | €35,713,608 | -€26.6m | -42.7% |
| Raw materials and consumables | 30/31 | €2,202,058 | €877,135 | -€1.3m | -60.2% |
| Finished goods | 33 | €23,142,472 | €10,696,569 | -€12.4m | -53.8% |
| Goods purchased for resale | 34 | €36,991,066 | €24,139,903 | -€12.9m | -34.7% |
| Amounts receivable within one year | 40/41 | €27,341,399 | €24,767,726 | -€2.6m | -9.4% |
| Trade receivables | 40 | €25,903,271 | €23,851,774 | -€2.1m | -7.9% |
| Other amounts receivable | 41 | €1,438,129 | €915,952 | -€522,176 | -36.3% |
| Current investments | 50/53 | €8,000,000 | €8,000,000 | = | 0.0% |
| Own shares | 50 | €8,000,000 | €8,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,003,329 | €1,593,994 | -€4.4m | -73.4% |
| Deferred charges and accrued income | 490/1 | €1,099,687 | €410,134 | -€689,552 | -62.7% |
| Total equity and liabilities | 10/49 | €126,872,335 | €90,964,893 | -€35.9m | -28.3% |
| Equity | 10/15 | €36,089,654 | €23,626,441 | -€12.5m | -34.5% |
| Contributions | 10/11 | €9,000,000 | €9,000,000 | = | 0.0% |
| Capital | 10 | €9,000,000 | €9,000,000 | = | 0.0% |
| Issued capital | 100 | €9,000,000 | €9,000,000 | = | 0.0% |
| Reserves | 13 | €27,372,756 | €27,302,631 | -€70,126 | -0.3% |
| Non-distributable reserves | 130/1 | €8,900,000 | €8,900,000 | = | 0.0% |
| Legal reserve | 130 | €900,000 | €900,000 | = | 0.0% |
| Own shares acquired | 1312 | €8,000,000 | €8,000,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €661,694 | €591,569 | -€70,126 | -10.6% |
| Distributable reserves | 133 | €17,811,062 | €17,811,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€565,409 | -€12,897,145 | -€12.3m | -2181.0% |
| Investment grants | 15 | €282,308 | €220,956 | -€61,352 | -21.7% |
| Provisions and deferred taxes | 16 | €220,565 | €197,190 | -€23,375 | -10.6% |
| Deferred taxes | 168 | €220,565 | €197,190 | -€23,375 | -10.6% |
| Amounts payable | 17/49 | €90,562,115 | €67,141,262 | -€23.4m | -25.9% |
| Amounts payable after more than one year | 17 | €10,947,935 | €9,522,247 | -€1.4m | -13.0% |
| Financial debts | 170/4 | €10,947,935 | €9,522,247 | -€1.4m | -13.0% |
| Leasing and similar obligations | 172 | €2,995,731 | €2,408,354 | -€587,377 | -19.6% |
| Credit institutions | 173 | €7,952,204 | €7,113,893 | -€838,311 | -10.5% |
| Amounts payable within one year | 42/48 | €79,198,489 | €57,450,264 | -€21.7m | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €3,243,947 | €3,387,556 | +€143,609 | +4.4% |
| Financial debts | 43 | €53,399,934 | €33,900,000 | -€19.5m | -36.5% |
| Credit institutions | 430/8 | €45,700,000 | €33,900,000 | -€11.8m | -25.8% |
| Other loans | 439 | €7,699,934 | - | -€7.7m | |
| Trade debts | 44 | €21,051,944 | €18,437,768 | -€2.6m | -12.4% |
| Suppliers | 440/4 | €21,051,944 | €18,437,768 | -€2.6m | -12.4% |
| Advances received on contracts in progress | 46 | €205,902 | €466,699 | +€260,797 | +126.7% |
| Taxes, remuneration and social security | 45 | €1,296,762 | €1,258,241 | -€38,521 | -3.0% |
| Taxes | 450/3 | €333,981 | €376,632 | +€42,650 | +12.8% |
| Remuneration and social security | 454/9 | €962,781 | €881,609 | -€81,172 | -8.4% |
| Accrued charges and deferred income | 492/3 | €415,692 | €168,751 | -€246,941 | -59.4% |
| Operating income | 70/76A | €256,168,379 | €240,592,642 | -€15.6m | -6.1% |
| Turnover | 70 | €240,298,640 | €247,500,101 | +€7.2m | +3.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €9,698,992 | -€12,445,903 | -€22.1m | |
| Other operating income | 74 | €6,111,082 | €5,367,343 | -€743,738 | -12.2% |
| Non-recurring operating income | 76A | €59,665 | €171,100 | +€111,435 | +186.8% |
| Operating charges | 60/66A | €256,690,351 | €247,331,877 | -€9.4m | -3.6% |
| Goods for resale, raw materials and consumables | 60 | €208,784,454 | €196,613,890 | -€12.2m | -5.8% |
| Purchases | 600/8 | €230,344,382 | €182,437,805 | -€47.9m | -20.8% |
| Change in stocks: decrease (increase) | 609 | -€21,559,927 | €14,176,085 | +€35.7m | |
| Services and other goods | 61 | €38,166,549 | €40,127,941 | +€2.0m | +5.1% |
| Remuneration, social security and pensions | 62 | €5,757,111 | €6,128,080 | +€370,969 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,747,383 | €3,780,183 | +€32,800 | +0.9% |
| Other operating charges | 640/8 | €217,006 | €287,647 | +€70,641 | +32.6% |
| Non-recurring operating charges | 66A | €17,848 | €394,137 | +€376,289 | +2108.4% |
| Operating profit (loss) | 9901 | -€521,972 | -€6,739,236 | -€6.2m | -1191.1% |
| Financial income | 75/76B | €2,467,858 | €3,150,247 | +€682,389 | +27.7% |
| Recurring financial income | 75 | €2,467,858 | €3,150,247 | +€682,389 | +27.7% |
| Income from financial fixed assets | 750 | €1,136,296 | €1,193,099 | +€56,803 | +5.0% |
| Income from current assets | 751 | €278 | €56,841 | +€56,563 | +20351.5% |
| Other financial income | 752/9 | €1,331,284 | €1,900,307 | +€569,023 | +42.7% |
| Financial charges | 65/66B | €2,598,002 | €8,828,855 | +€6.2m | +239.8% |
| Recurring financial charges | 65 | €2,598,002 | €8,828,855 | +€6.2m | +239.8% |
| Debt charges | 650 | €1,576,102 | €1,665,679 | +€89,577 | +5.7% |
| Other financial charges | 652/9 | €1,021,900 | €7,163,176 | +€6.1m | +601.0% |
| Profit (loss) for the period before taxes | 9903 | -€652,117 | -€12,417,844 | -€11.8m | -1804.2% |
| Transfer from deferred taxes | 780 | €23,446 | €23,375 | -€71 | -0.3% |
| Income taxes | 67/77 | €7,077 | €7,392 | +€315 | +4.5% |
| Taxes | 670/3 | €7,077 | €7,392 | +€315 | +4.5% |
| Profit (loss) for the period | 9904 | -€635,748 | -€12,401,861 | -€11.8m | -1850.8% |
| Transfer from tax-exempt reserves | 789 | €70,338 | €70,126 | -€213 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€565,409 | -€12,331,735 | -€11.8m | -2081.0% |
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 3 October 2026 via checked.be.