COMODELL: what changed
Two financial 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.
COMODELL
Largest movements
- Stocks and contracts -€1.2m
no longer reported in 2025 (was €1.2m)
- Current investments -€750,000
no longer reported in 2025 (was €750,000)
- Deferred charges and accrued income +€140,225
up €140,225 (+479.3%), from €29,253 to €169,479
- Tangible fixed assets +€99,138
up €99,138 (+2.7%), from €3.6m to €3.7m
of which Assets under construction and advance payments: +€201,007
- Provisions -€823,336
no longer reported in 2025 (was €823,336)
- Trade debts -€590,551
down €590,551 (-71.4%), from €827,650 to €237,099
- Debts after one year +€413,438
up €413,438 (+40.5%), from €1.0m to €1.4m
of which Other amounts payable: +€511,063
- Tax, wage and social debts -€358,233
down €358,233 (-97.4%), from €367,805 to €9,572
of which Remuneration and social security: -€305,657
- Reserves -€196,893
down €196,893 (-7.5%), from €2.6m to €2.4m
of which Non-distributable reserves: -€115,158
- Gross operating margin -€1.5m
down €1.5m (-82.7%), from €1.8m to €319,182
- Staff costs -€1.5m
down €1.5m (-99.4%), from €1.5m to €8,910
- Financial charges -€65,975
down €65,975 (-73.9%), from €89,331 to €23,356
- Depreciation -€51,551
down €51,551 (-15.6%), from €330,821 to €279,271
- Other operating charges -€39,152
down €39,152 (-71.7%), from €54,618 to €15,465
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 | €6,228,926 | €4,524,333 | -€1.7m | -27.4% |
| Formation expenses | 20 | - | €35,493 | +€35,493 | |
| Fixed assets | 21/28 | €3,619,870 | €3,717,786 | +€97,916 | +2.7% |
| Intangible fixed assets | 21 | €1,223 | - | -€1,223 | |
| Tangible fixed assets | 22/27 | €3,618,648 | €3,717,786 | +€99,138 | +2.7% |
| Land and buildings | 22 | €1,716,617 | €1,594,335 | -€122,283 | -7.1% |
| Plant, machinery and equipment | 23 | €101,765 | €32,540 | -€69,224 | -68.0% |
| Furniture and vehicles | 24 | €2,449 | €92,088 | +€89,639 | +3659.8% |
| Assets under construction and advance payments | 27 | €1,797,817 | €1,998,824 | +€201,007 | +11.2% |
| Current assets | 29/58 | €2,609,055 | €771,053 | -€1.8m | -70.4% |
| Stocks and contracts in progress | 3 | €1,153,225 | - | -€1.2m | |
| Stocks | 30/36 | €1,153,225 | - | -€1.2m | |
| Amounts receivable within one year | 40/41 | €235,072 | €203,543 | -€31,530 | -13.4% |
| Trade receivables | 40 | €182,277 | €149,199 | -€33,078 | -18.1% |
| Other amounts receivable | 41 | €52,795 | €54,344 | +€1,549 | +2.9% |
| Current investments | 50/53 | €750,000 | - | -€750,000 | |
| Cash at bank and in hand | 54/58 | €441,504 | €398,032 | -€43,473 | -9.8% |
| Deferred charges and accrued income | 490/1 | €29,253 | €169,479 | +€140,225 | +479.3% |
| Total equity and liabilities | 10/49 | €6,228,926 | €4,524,333 | -€1.7m | -27.4% |
| Equity | 10/15 | €2,918,757 | €2,706,052 | -€212,705 | -7.3% |
| Contributions | 10/11 | €290,313 | €268,566 | -€21,747 | -7.5% |
| Capital | 10 | €204,086 | €188,798 | -€15,288 | -7.5% |
| Issued capital | 100 | €204,086 | €188,798 | -€15,288 | -7.5% |
| Contributions outside capital | 11 | €86,227 | €79,768 | -€6,459 | -7.5% |
| Share premium | 1100/10 | €86,227 | €79,768 | -€6,459 | -7.5% |
| Reserves | 13 | €2,628,444 | €2,431,551 | -€196,893 | -7.5% |
| Non-distributable reserves | 130/1 | €1,537,308 | €1,422,151 | -€115,158 | -7.5% |
| Legal reserve | 130 | €28,634 | €26,489 | -€2,145 | -7.5% |
| Reserves not available under the articles | 1311 | €1,508,674 | €1,395,661 | -€113,013 | -7.5% |
| Tax-exempt reserves | 132 | €36,512 | €33,777 | -€2,735 | -7.5% |
| Distributable reserves | 133 | €1,054,623 | €975,623 | -€79,000 | -7.5% |
| Profit (loss) carried forward | 14 | - | €5,935 | +€5,935 | |
| Provisions and deferred taxes | 16 | €823,336 | - | -€823,336 | |
| Provisions for liabilities and charges | 160/5 | €823,336 | - | -€823,336 | |
| Environmental obligations | 163 | €823,336 | - | -€823,336 | |
| Amounts payable | 17/49 | €2,486,834 | €1,818,281 | -€668,553 | -26.9% |
| Amounts payable after more than one year | 17 | €1,020,270 | €1,433,708 | +€413,438 | +40.5% |
| Financial debts | 170/4 | €1,020,270 | €922,645 | -€97,625 | -9.6% |
| Other amounts payable | 178/9 | - | €511,063 | +€511,063 | |
| Amounts payable within one year | 42/48 | €1,421,236 | €345,586 | -€1.1m | -75.7% |
| Current portion of amounts payable after more than one year | 42 | €133,741 | €97,625 | -€36,115 | -27.0% |
| Trade debts | 44 | €827,650 | €237,099 | -€590,551 | -71.4% |
| Suppliers | 440/4 | €827,650 | €237,099 | -€590,551 | -71.4% |
| Taxes, remuneration and social security | 45 | €367,805 | €9,572 | -€358,233 | -97.4% |
| Taxes | 450/3 | €60,771 | €8,194 | -€52,577 | -86.5% |
| Remuneration and social security | 454/9 | €307,034 | €1,377 | -€305,657 | -99.6% |
| Other amounts payable | 47/48 | €92,041 | €1,291 | -€90,750 | -98.6% |
| Accrued charges and deferred income | 492/3 | €45,327 | €38,986 | -€6,341 | -14.0% |
| Remuneration, social security and pensions | 62 | €1,503,965 | €8,910 | -€1.5m | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,821 | €279,271 | -€51,551 | -15.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,183 | - | +€2,183 | |
| Other operating charges | 640/8 | €54,618 | €15,465 | -€39,152 | -71.7% |
| Gross operating margin | 9900 | €1,840,687 | €319,182 | -€1.5m | -82.7% |
| Operating profit (loss) | 9901 | -€46,534 | €15,536 | +€62,070 | |
| Financial income | 75/76B | €40,106 | €13,755 | -€26,350 | -65.7% |
| Recurring financial income | 75 | €40,106 | €13,755 | -€26,350 | -65.7% |
| Financial charges | 65/66B | €89,331 | €23,356 | -€65,975 | -73.9% |
| Recurring financial charges | 65 | €89,331 | €23,356 | -€65,975 | -73.9% |
| Profit (loss) for the period before taxes | 9903 | -€95,760 | €5,935 | +€101,695 | |
| Transfer from deferred taxes | 780 | €2,616 | - | -€2,616 | |
| Profit (loss) for the period | 9904 | -€93,143 | €5,935 | +€99,079 | |
| Transfer from tax-exempt reserves | 789 | €5,081 | - | -€5,081 | |
| Profit (loss) for the period to be appropriated | 9905 | -€88,062 | €5,935 | +€93,997 |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.