COMMA,: 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.
COMMA,
Largest movements
- Receivables within one year +€108,478
up €108,478 (+46.2%), from €234,838 to €343,316
of which Trade receivables: +€72,504
- Cash +€58,645
up €58,645 (+2015.4%), from €2,910 to €61,555
mainly Net result for the year (+€136,125) and Depreciation (+€97,768)
- Tangible fixed assets -€52,255
down €52,255 (-3.8%), from €1.4m to €1.3m
of which Land and buildings: -€47,577
- Deferred charges and accrued income -€28,345
down €28,345 (-95.7%), from €29,613 to €1,267
- Reserves +€136,570
up €136,570 (+36.8%), from €370,867 to €507,436
of which Distributable reserves: +€140,742
- Debts after one year -€100,006
down €100,006 (-12.4%), from €806,493 to €706,488
- Short-term financial debts +€59,005
up €59,005 (+161.4%), from €36,564 to €95,568
- Other debts -€49,562
down €49,562 (-99.9%), from €49,633 to €71
- Gross operating margin +€164,997
up €164,997 (+17.2%), from €958,343 to €1.1m
- Staff costs +€155,064
up €155,064 (+26.0%), from €597,500 to €752,565
- Depreciation -€11,439
down €11,439 (-10.5%), from €109,207 to €97,768
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 | €1,691,144 | €1,765,571 | +€74,427 | +4.4% |
| Fixed assets | 21/28 | €1,423,783 | €1,359,432 | -€64,350 | -4.5% |
| Intangible fixed assets | 21 | €38,640 | €26,544 | -€12,096 | -31.3% |
| Tangible fixed assets | 22/27 | €1,385,143 | €1,332,889 | -€52,255 | -3.8% |
| Land and buildings | 22 | €1,322,111 | €1,274,534 | -€47,577 | -3.6% |
| Plant, machinery and equipment | 23 | €43,672 | €38,016 | -€5,656 | -13.0% |
| Furniture and vehicles | 24 | €19,359 | €20,339 | +€979 | +5.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €267,361 | €406,139 | +€138,778 | +51.9% |
| Amounts receivable within one year | 40/41 | €234,838 | €343,316 | +€108,478 | +46.2% |
| Trade receivables | 40 | €234,417 | €306,921 | +€72,504 | +30.9% |
| Other amounts receivable | 41 | €421 | €36,396 | +€35,974 | +8537.0% |
| Cash at bank and in hand | 54/58 | €2,910 | €61,555 | +€58,645 | +2015.4% |
| Deferred charges and accrued income | 490/1 | €29,613 | €1,267 | -€28,345 | -95.7% |
| Total equity and liabilities | 10/49 | €1,691,144 | €1,765,571 | +€74,427 | +4.4% |
| Equity | 10/15 | €389,911 | €526,036 | +€136,125 | +34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €370,867 | €507,436 | +€136,570 | +36.8% |
| Tax-exempt reserves | 132 | €125,988 | €121,816 | -€4,172 | -3.3% |
| Distributable reserves | 133 | €244,879 | €385,621 | +€140,742 | +57.5% |
| Profit (loss) carried forward | 14 | €444 | €0 | -€444 | -100.0% |
| Provisions and deferred taxes | 16 | €32,914 | €31,524 | -€1,391 | -4.2% |
| Deferred taxes | 168 | €32,914 | €31,524 | -€1,391 | -4.2% |
| Amounts payable | 17/49 | €1,268,319 | €1,208,011 | -€60,307 | -4.8% |
| Amounts payable after more than one year | 17 | €806,493 | €706,488 | -€100,006 | -12.4% |
| Financial debts | 170/4 | €806,493 | €706,488 | -€100,006 | -12.4% |
| Amounts payable within one year | 42/48 | €441,323 | €481,538 | +€40,215 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €96,682 | €100,006 | +€3,324 | +3.4% |
| Financial debts | 43 | €36,564 | €95,568 | +€59,005 | +161.4% |
| Credit institutions | 430/8 | €36,564 | €95,568 | +€59,005 | +161.4% |
| Trade debts | 44 | €113,136 | €123,051 | +€9,916 | +8.8% |
| Suppliers | 440/4 | €113,136 | €123,051 | +€9,916 | +8.8% |
| Taxes, remuneration and social security | 45 | €145,308 | €162,841 | +€17,533 | +12.1% |
| Taxes | 450/3 | €102,079 | €83,712 | -€18,367 | -18.0% |
| Remuneration and social security | 454/9 | €43,230 | €79,129 | +€35,899 | +83.0% |
| Other amounts payable | 47/48 | €49,633 | €71 | -€49,562 | -99.9% |
| Accrued charges and deferred income | 492/3 | €20,503 | €19,986 | -€517 | -2.5% |
| Non-recurring operating income | 76A | €452 | €7,067 | +€6,614 | +1461.7% |
| Remuneration, social security and pensions | 62 | €597,500 | €752,565 | +€155,064 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,207 | €97,768 | -€11,439 | -10.5% |
| Other operating charges | 640/8 | €10,740 | €18,356 | +€7,616 | +70.9% |
| Non-recurring operating charges | 66A | €685 | €0 | -€685 | -100.0% |
| Gross operating margin | 9900 | €958,343 | €1,123,340 | +€164,997 | +17.2% |
| Operating profit (loss) | 9901 | €240,210 | €254,651 | +€14,441 | +6.0% |
| Financial income | 75/76B | €1,791 | €1,576 | -€215 | -12.0% |
| Recurring financial income | 75 | €1,791 | €1,576 | -€215 | -12.0% |
| Financial charges | 65/66B | €60,973 | €51,977 | -€8,996 | -14.8% |
| Recurring financial charges | 65 | €60,973 | €51,977 | -€8,996 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €181,029 | €204,250 | +€23,221 | +12.8% |
| Transfer from deferred taxes | 780 | €1,391 | €1,391 | = | 0.0% |
| Income taxes | 67/77 | €60,887 | €69,515 | +€8,629 | +14.2% |
| Profit (loss) for the period | 9904 | €121,533 | €136,125 | +€14,592 | +12.0% |
| Transfer from tax-exempt reserves | 789 | €4,172 | €4,172 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €125,705 | €140,298 | +€14,592 | +11.6% |
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.