COMSA: what changed
COMSA
Largest movements
- Cash -€26,324
down €26,324 (-45.8%), from €57,462 to €31,138
mainly Debts after one year (-€23,136) and Receivables within one year (-€18,928)
- Receivables within one year +€18,928
up €18,928 (+80.2%), from €23,600 to €42,528
of which Other amounts receivable: +€17,733
- Deferred charges and accrued income -€3,972
down €3,972 (-75.5%), from €5,259 to €1,287
- Profit (loss) carried forward +€24,932
up €24,932 (+13.8%), from €180,655 to €205,587
- Debts after one year -€23,136
down €23,136 (-17.1%), from €135,057 to €111,921
- Other debts -€7,708
down €7,708 (-32.3%), from €23,868 to €16,160
- Tax, wage and social debts -€5,847
down €5,847 (-31.4%), from €18,639 to €12,792
of which Taxes: -€5,847
- Gross operating margin -€48,605
down €48,605 (-56.1%), from €86,616 to €38,011
- Taxes -€10,985
down €10,985 (-57.8%), from €19,010 to €8,025
- Financial income -€2,643
down €2,643 (-31.2%), from €8,471 to €5,828
of which Non-recurring financial income: -€4,441
- Financial charges +€1,259
up €1,259 (+16.4%), from €7,680 to €8,939
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €383,159 | €371,753 | -€11,406 | -3.0% |
| Fixed assets | 21/28 | €296,838 | €296,800 | -€38 | 0.0% |
| Tangible fixed assets | 22/27 | €38 | €0 | -€38 | -100% |
| Plant, machinery and equipment | 23 | €38 | €0 | -€38 | -100% |
| Financial fixed assets | 28 | €296,800 | €296,800 | = | 0.0% |
| Current assets | 29/58 | €86,321 | €74,953 | -€11,368 | -13.2% |
| Amounts receivable within one year | 40/41 | €23,600 | €42,528 | +€18,928 | +80.2% |
| Trade receivables | 40 | €19,610 | €20,805 | +€1,196 | +6.1% |
| Other amounts receivable | 41 | €3,990 | €21,723 | +€17,733 | +444% |
| Cash at bank and in hand | 54/58 | €57,462 | €31,138 | -€26,324 | -45.8% |
| Deferred charges and accrued income | 490/1 | €5,259 | €1,287 | -€3,972 | -75.5% |
| Total equity and liabilities | 10/49 | €383,159 | €371,753 | -€11,406 | -3.0% |
| Equity | 10/15 | €181,655 | €206,587 | +€24,932 | +13.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,655 | €205,587 | +€24,932 | +13.8% |
| Amounts payable | 17/49 | €201,504 | €165,166 | -€36,338 | -18.0% |
| Amounts payable after more than one year | 17 | €135,057 | €111,921 | -€23,136 | -17.1% |
| Financial debts | 170/4 | €135,057 | €111,921 | -€23,136 | -17.1% |
| Amounts payable within one year | 42/48 | €66,447 | €53,245 | -€13,202 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €22,185 | €23,136 | +€951 | +4.3% |
| Trade debts | 44 | €1,755 | €1,157 | -€599 | -34.1% |
| Suppliers | 440/4 | €1,755 | €1,157 | -€599 | -34.1% |
| Taxes, remuneration and social security | 45 | €18,639 | €12,792 | -€5,847 | -31.4% |
| Taxes | 450/3 | €13,639 | €7,792 | -€5,847 | -42.9% |
| Remuneration and social security | 454/9 | €5,000 | €5,000 | = | 0.0% |
| Other amounts payable | 47/48 | €23,868 | €16,160 | -€7,708 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €616 | €38 | -€578 | -93.8% |
| Other operating charges | 640/8 | €1,431 | €1,905 | +€474 | +33.1% |
| Gross operating margin | 9900 | €86,616 | €38,011 | -€48,605 | -56.1% |
| Operating profit (loss) | 9901 | €84,568 | €36,069 | -€48,500 | -57.3% |
| Financial income | 75/76B | €8,471 | €5,828 | -€2,643 | -31.2% |
| Recurring financial income | 75 | €4,030 | €5,828 | +€1,798 | +44.6% |
| Non-recurring financial income | 76B | €4,441 | - | -€4,441 | |
| Financial charges | 65/66B | €7,680 | €8,939 | +€1,259 | +16.4% |
| Recurring financial charges | 65 | €7,680 | €8,939 | +€1,259 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €85,360 | €32,957 | -€52,403 | -61.4% |
| Income taxes | 67/77 | €19,010 | €8,025 | -€10,985 | -57.8% |
| Profit (loss) for the period | 9904 | €66,350 | €24,932 | -€41,418 | -62.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,350 | €24,932 | -€41,418 | -62.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.