COMSA: 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.
COMSA
Largest movements
- Tangible fixed assets -€14,867
down €14,867 (-8.4%), from €176,889 to €162,023
of which Land and buildings: -€13,013
- Receivables within one year +€14,185
up €14,185 (+20.5%), from €69,247 to €83,432
of which Trade receivables: +€18,558
- Cash +€11,314
up €11,314 (+19.6%), from €57,857 to €69,172
mainly Net result for the year (+€39,916) and Depreciation (+€16,519)
- Reserves +€31,391
up €31,391 (+28.2%), from €111,250 to €142,641
- Debts after one year -€22,667
down €22,667 (-26.7%), from €85,000 to €62,333
- Tax, wage and social debts +€16,184
up €16,184 (+49.6%), from €32,601 to €48,785
of which Remuneration and social security: +€12,019
- Trade debts -€9,827
down €9,827 (-25.5%), from €38,491 to €28,663
- Other debts -€6,781
down €6,781 (-21.3%), from €31,762 to €24,981
- Gross operating margin +€27,672
up €27,672 (+11.5%), from €241,333 to €269,005
- Taxes +€14,771
up €14,771 (+224%), from €6,600 to €21,370
- Depreciation -€14,294
down €14,294 (-46.4%), from €30,813 to €16,519
- Financial charges -€8,250
down €8,250 (-58.9%), from €14,003 to €5,752
- Staff costs +€6,265
up €6,265 (+3.6%), from €173,865 to €180,130
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.
Derived cash bridge
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 | €345,440 | €354,967 | +€9,527 | +2.8% |
| Fixed assets | 21/28 | €176,889 | €162,023 | -€14,867 | -8.4% |
| Tangible fixed assets | 22/27 | €176,889 | €162,023 | -€14,867 | -8.4% |
| Land and buildings | 22 | €170,780 | €157,768 | -€13,013 | -7.6% |
| Plant, machinery and equipment | 23 | €3,374 | €2,241 | -€1,133 | -33.6% |
| Furniture and vehicles | 24 | €2,735 | €2,014 | -€721 | -26.4% |
| Current assets | 29/58 | €168,550 | €192,944 | +€24,394 | +14.5% |
| Stocks and contracts in progress | 3 | €30,877 | €31,016 | +€139 | +0.5% |
| Stocks | 30/36 | €18,877 | €15,306 | -€3,571 | -18.9% |
| Contracts in progress | 37 | €12,000 | €15,710 | +€3,710 | +30.9% |
| Amounts receivable within one year | 40/41 | €69,247 | €83,432 | +€14,185 | +20.5% |
| Trade receivables | 40 | €56,326 | €74,884 | +€18,558 | +32.9% |
| Other amounts receivable | 41 | €12,921 | €8,548 | -€4,373 | -33.8% |
| Cash at bank and in hand | 54/58 | €57,857 | €69,172 | +€11,314 | +19.6% |
| Deferred charges and accrued income | 490/1 | €10,570 | €9,325 | -€1,245 | -11.8% |
| Total equity and liabilities | 10/49 | €345,440 | €354,967 | +€9,527 | +2.8% |
| Equity | 10/15 | €129,850 | €161,241 | +€31,391 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,250 | €142,641 | +€31,391 | +28.2% |
| Distributable reserves | 133 | €111,250 | €142,641 | +€31,391 | +28.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €215,590 | €193,726 | -€21,865 | -10.1% |
| Amounts payable after more than one year | 17 | €85,000 | €62,333 | -€22,667 | -26.7% |
| Financial debts | 170/4 | €85,000 | €62,333 | -€22,667 | -26.7% |
| Amounts payable within one year | 42/48 | €130,590 | €131,392 | +€802 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €22,667 | €22,667 | = | 0.0% |
| Financial debts | 43 | €5,070 | €6,296 | +€1,226 | +24.2% |
| Credit institutions | 430/8 | €5,070 | €6,296 | +€1,226 | +24.2% |
| Trade debts | 44 | €38,491 | €28,663 | -€9,827 | -25.5% |
| Suppliers | 440/4 | €38,491 | €28,663 | -€9,827 | -25.5% |
| Taxes, remuneration and social security | 45 | €32,601 | €48,785 | +€16,184 | +49.6% |
| Taxes | 450/3 | €12,561 | €16,726 | +€4,165 | +33.2% |
| Remuneration and social security | 454/9 | €20,040 | €32,059 | +€12,019 | +60.0% |
| Other amounts payable | 47/48 | €31,762 | €24,981 | -€6,781 | -21.3% |
| Non-recurring operating income | 76A | - | €5,249 | +€5,249 | |
| Remuneration, social security and pensions | 62 | €173,865 | €180,130 | +€6,265 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,813 | €16,519 | -€14,294 | -46.4% |
| Other operating charges | 640/8 | €5,992 | €5,982 | -€10 | -0.2% |
| Gross operating margin | 9900 | €241,333 | €269,005 | +€27,672 | +11.5% |
| Operating profit (loss) | 9901 | €30,663 | €66,374 | +€35,711 | +116% |
| Financial income | 75/76B | €184 | €664 | +€480 | +260% |
| Recurring financial income | 75 | €184 | €664 | +€480 | +260% |
| Financial charges | 65/66B | €14,003 | €5,752 | -€8,250 | -58.9% |
| Recurring financial charges | 65 | €14,003 | €5,752 | -€8,250 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | €16,845 | €61,286 | +€44,441 | +264% |
| Income taxes | 67/77 | €6,600 | €21,370 | +€14,771 | +224% |
| Profit (loss) for the period | 9904 | €10,245 | €39,916 | +€29,670 | +290% |
| Profit (loss) for the period to be appropriated | 9905 | €10,245 | €39,916 | +€29,670 | +290% |
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 17 October 2026 via checked.be.