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.
What changed
COMMA
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €1.7m-€65,015
Equity
€7.8m
2024 · €6.2m+€1.6m
Cash
€11,557
2024 · €15,870-€4,314
Balance sheet total
€16.3m
2024 · €17.1m-€838,102
Largest movements
Assets
- Receivables within one year -€881,565
down €881,565 (-45.1%), from €2.0m to €1.1m
of which Trade receivables: -€876,664
Equity and liabilities
- Other debts -€1.9m
down €1.9m (-99.9%), from €1.9m to €1,160
- Reserves +€1.6m
up €1.6m (+25.7%), from €6.2m to €7.8m
of which Distributable reserves: +€1.6m
- Trade debts -€920,725
down €920,725 (-63.2%), from €1.5m to €537,090
- Short-term financial debts +€507,072
up €507,072 (+64130.4%), from €791 to €507,863
Income statement
- Services and other goods +€237,845
up €237,845 (+26.2%), from €908,088 to €1.1m
- Staff costs -€190,340
down €190,340 (-13.6%), from €1.4m to €1.2m
- Financial income -€154,763
down €154,763 (-8.0%), from €1.9m to €1.8m
of which Financial income: -€213,565
- Turnover +€139,000
up €139,000 (+5.2%), from €2.7m to €2.8m
- Financial charges -€92,719
down €92,719 (-16.5%), from €561,112 to €468,394
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
€1.7m
Turnover
+€139,000
Other operating income
-€2,301
Services and other goods
-€237,845
Staff costs
+€190,340
Depreciation
-€89,655
Other operating charges
-€2,520
Other operating items
-€200
Financial income
-€154,763
Financial charges
+€92,719
Taxes
+€210
Result 2025
€1.6m
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
-€218,727
Investment
-€231,005
Financing
+€445,418
Cash 2024
€15,870
From operations (derived)
-€218,727
Net result for the year
+€1.6m
Depreciation
+€183,678
Receivables within one year
+€881,565
Deferred charges and accrued income
-€450
Trade debts
-€920,725
Tax, wage and social debts
-€97,580
Other debts
-€1.9m
Accrued charges and deferred income
-€4,810
Investment (derived)
-€231,005
Investment in fixed assets (net)
-€231,005
Financing
+€445,418
Debts after one year
-€46,503
Current portion of long-term debt
-€15,152
Short-term financial debts
+€507,072
Cash 2025
€11,557
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,106,711 | €16,268,609 | -€838,102 | -4.9% |
| Fixed assets | 21/28 | €15,135,402 | €15,182,729 | +€47,327 | +0.3% |
| Intangible fixed assets | 21 | €408,564 | €521,499 | +€112,935 | +27.6% |
| Tangible fixed assets | 22/27 | €201,363 | €135,755 | -€65,608 | -32.6% |
| Plant, machinery and equipment | 23 | €6,118 | €4,788 | -€1,330 | -21.7% |
| Furniture and vehicles | 24 | €2,570 | - | -€2,570 | |
| Leasing and similar rights | 25 | €192,675 | €130,967 | -€61,708 | -32.0% |
| Financial fixed assets | 28 | €14,525,476 | €14,525,476 | = | 0.0% |
| Affiliated companies | 280/1 | €14,525,476 | €14,525,476 | = | 0.0% |
| Participating interests | 280 | €14,525,476 | €14,525,476 | = | 0.0% |
| Current assets | 29/58 | €1,971,309 | €1,085,880 | -€885,429 | -44.9% |
| Amounts receivable within one year | 40/41 | €1,953,738 | €1,072,173 | -€881,565 | -45.1% |
| Trade receivables | 40 | €948,797 | €72,133 | -€876,664 | -92.4% |
| Other amounts receivable | 41 | €1,004,941 | €1,000,040 | -€4,901 | -0.5% |
| Cash at bank and in hand | 54/58 | €15,870 | €11,557 | -€4,314 | -27.2% |
| Deferred charges and accrued income | 490/1 | €1,700 | €2,150 | +€450 | +26.5% |
| Total equity and liabilities | 10/49 | €17,106,711 | €16,268,609 | -€838,102 | -4.9% |
| Equity | 10/15 | €6,239,583 | €7,829,456 | +€1.6m | +25.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,177,583 | €7,767,456 | +€1.6m | +25.7% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €448 | €448 | = | 0.0% |
| Distributable reserves | 133 | €6,159,135 | €7,749,008 | +€1.6m | +25.8% |
| Amounts payable | 17/49 | €10,867,128 | €8,439,153 | -€2.4m | -22.3% |
| Amounts payable after more than one year | 17 | €7,129,792 | €7,083,290 | -€46,503 | -0.7% |
| Financial debts | 170/4 | €7,129,792 | €7,083,290 | -€46,503 | -0.7% |
| Subordinated loans | 170 | €7,000,000 | €7,000,000 | = | 0.0% |
| Leasing and similar obligations | 172 | €129,792 | €83,290 | -€46,503 | -35.8% |
| Amounts payable within one year | 42/48 | €3,705,576 | €1,328,913 | -€2.4m | -64.1% |
| Current portion of amounts payable after more than one year | 42 | €61,655 | €46,503 | -€15,152 | -24.6% |
| Financial debts | 43 | €791 | €507,863 | +€507,072 | +64130.4% |
| Credit institutions | 430/8 | €791 | €507,863 | +€507,072 | +64130.4% |
| Trade debts | 44 | €1,457,815 | €537,090 | -€920,725 | -63.2% |
| Suppliers | 440/4 | €1,457,815 | €537,090 | -€920,725 | -63.2% |
| Taxes, remuneration and social security | 45 | €333,878 | €236,297 | -€97,580 | -29.2% |
| Taxes | 450/3 | €89,216 | €59,997 | -€29,219 | -32.8% |
| Remuneration and social security | 454/9 | €244,662 | €176,301 | -€68,361 | -27.9% |
| Other amounts payable | 47/48 | €1,851,438 | €1,160 | -€1.9m | -99.9% |
| Accrued charges and deferred income | 492/3 | €31,760 | €26,950 | -€4,810 | -15.1% |
| Operating income | 70/76A | €2,700,926 | €2,837,625 | +€136,699 | +5.1% |
| Turnover | 70 | €2,672,000 | €2,811,000 | +€139,000 | +5.2% |
| Other operating income | 74 | €28,926 | €26,625 | -€2,301 | -8.0% |
| Operating charges | 60/66A | €2,413,180 | €2,553,061 | +€139,881 | +5.8% |
| Services and other goods | 61 | €908,088 | €1,145,933 | +€237,845 | +26.2% |
| Remuneration, social security and pensions | 62 | €1,401,280 | €1,210,940 | -€190,340 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,023 | €183,678 | +€89,655 | +95.4% |
| Other operating charges | 640/8 | €9,789 | €12,310 | +€2,520 | +25.7% |
| Non-recurring operating charges | 66A | - | €200 | +€200 | |
| Operating profit (loss) | 9901 | €287,746 | €284,564 | -€3,182 | -1.1% |
| Financial income | 75/76B | €1,930,566 | €1,775,803 | -€154,763 | -8.0% |
| Recurring financial income | 75 | €1,930,566 | €1,717,001 | -€213,565 | -11.1% |
| Income from financial fixed assets | 750 | €1,912,750 | €1,717,000 | -€195,750 | -10.2% |
| Income from current assets | 751 | €17,815 | €1 | -€17,814 | -100.0% |
| Other financial income | 752/9 | €1 | - | -€1 | |
| Non-recurring financial income | 76B | - | €58,802 | +€58,802 | |
| Financial charges | 65/66B | €561,112 | €468,394 | -€92,719 | -16.5% |
| Recurring financial charges | 65 | €561,112 | €468,394 | -€92,719 | -16.5% |
| Debt charges | 650 | €557,744 | €467,939 | -€89,806 | -16.1% |
| Other financial charges | 652/9 | €3,368 | €455 | -€2,913 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | €1,657,199 | €1,591,974 | -€65,226 | -3.9% |
| Income taxes | 67/77 | €2,311 | €2,100 | -€210 | -9.1% |
| Taxes | 670/3 | €2,311 | €2,100 | -€210 | -9.1% |
| Profit (loss) for the period | 9904 | €1,654,889 | €1,589,873 | -€65,015 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,654,889 | €1,589,873 | -€65,015 | -3.9% |
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 2 October 2026 via checked.be.