COMRAD ADVISORS: 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.
COMRAD ADVISORS
Largest movements
- Cash -€104,887
down €104,887 (-71.5%), from €146,776 to €41,889
mainly Contributions, distributions and other (-€90,000) and Current investments (-€79,800)
- Current investments +€79,800
up €79,800 (+530.7%), from €15,037 to €94,837
- Receivables within one year +€22,164
up €22,164 (+91.9%), from €24,105 to €46,270
of which Other amounts receivable: +€22,510
- Tangible fixed assets +€4,314
up €4,314 (+334.0%), from €1,292 to €5,605
- Other debts +€9,646
up €9,646 (+7.8%), from €123,334 to €132,980
- Profit (loss) carried forward -€7,922
down €7,922 (-31.5%), from €25,180 to €17,258
- Financial charges +€33,592
up €33,592 (+1269.2%), from €2,647 to €36,239
- Taxes -€8,946
down €8,946 (-28.1%), from €31,817 to €22,872
- Gross operating margin -€4,590
down €4,590 (-3.1%), from €146,029 to €141,440
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 | €189,405 | €191,023 | +€1,617 | +0.9% |
| Fixed assets | 21/28 | €1,391 | €5,705 | +€4,314 | +310.0% |
| Tangible fixed assets | 22/27 | €1,292 | €5,605 | +€4,314 | +334.0% |
| Furniture and vehicles | 24 | €1,292 | €5,605 | +€4,314 | +334.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €188,014 | €185,317 | -€2,696 | -1.4% |
| Amounts receivable within one year | 40/41 | €24,105 | €46,270 | +€22,164 | +91.9% |
| Trade receivables | 40 | €24,105 | €23,760 | -€345 | -1.4% |
| Other amounts receivable | 41 | - | €22,510 | +€22,510 | |
| Current investments | 50/53 | €15,037 | €94,837 | +€79,800 | +530.7% |
| Cash at bank and in hand | 54/58 | €146,776 | €41,889 | -€104,887 | -71.5% |
| Deferred charges and accrued income | 490/1 | €2,096 | €2,322 | +€226 | +10.8% |
| Total equity and liabilities | 10/49 | €189,405 | €191,023 | +€1,617 | +0.9% |
| Equity | 10/15 | €53,908 | €45,985 | -€7,922 | -14.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €22,727 | €22,727 | = | 0.0% |
| Distributable reserves | 133 | €22,727 | €22,727 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,180 | €17,258 | -€7,922 | -31.5% |
| Amounts payable | 17/49 | €135,497 | €145,037 | +€9,540 | +7.0% |
| Amounts payable within one year | 42/48 | €135,497 | €145,037 | +€9,540 | +7.0% |
| Trade debts | 44 | €1,720 | €1,572 | -€148 | -8.6% |
| Suppliers | 440/4 | €1,720 | €1,572 | -€148 | -8.6% |
| Advances received on contracts in progress | 46 | €342 | - | -€342 | |
| Taxes, remuneration and social security | 45 | €10,101 | €10,485 | +€384 | +3.8% |
| Taxes | 450/3 | €10,101 | €10,485 | +€384 | +3.8% |
| Other amounts payable | 47/48 | €123,334 | €132,980 | +€9,646 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €324 | €929 | +€605 | +186.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €146,029 | €141,440 | -€4,590 | -3.1% |
| Operating profit (loss) | 9901 | €145,318 | €140,111 | -€5,207 | -3.6% |
| Financial income | 75/76B | €318 | €1,077 | +€759 | +238.5% |
| Recurring financial income | 75 | €318 | €1,077 | +€759 | +238.5% |
| Financial charges | 65/66B | €2,647 | €36,239 | +€33,592 | +1269.2% |
| Recurring financial charges | 65 | €2,647 | €36,239 | +€33,592 | +1269.2% |
| Profit (loss) for the period before taxes | 9903 | €142,989 | €104,949 | -€38,040 | -26.6% |
| Income taxes | 67/77 | €31,817 | €22,872 | -€8,946 | -28.1% |
| Profit (loss) for the period | 9904 | €111,172 | €82,078 | -€29,094 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,172 | €82,078 | -€29,094 | -26.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.