CONADCOM: 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.
CONADCOM
Largest movements
- Tangible fixed assets -€34,890
down €34,890 (-11.7%), from €297,789 to €262,899
of which Land and buildings: -€34,524
- Cash +€24,518
up €24,518 (+70.3%), from €34,890 to €59,408
mainly Depreciation (+€34,890) and Other debts (+€6,980)
- Investment grants -€12,691
down €12,691 (-10.3%), from €122,972 to €110,281
- Other debts +€6,980
up €6,980 (+6.2%), from €113,430 to €120,410
- Profit (loss) carried forward -€5,928
down €5,928 (-3.8%), from -€157,156 to -€163,085
- Depreciation -€11,790
down €11,790 (-25.3%), from €46,680 to €34,890
- Gross operating margin -€9,705
down €9,705 (-33.7%), from €28,807 to €19,102
- Financial charges -€3,592
down €3,592 (-98.4%), from €3,648 to €57
of which Non-recurring financial charges: -€3,477
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 | €333,725 | €322,321 | -€11,403 | -3.4% |
| Fixed assets | 21/28 | €297,789 | €262,899 | -€34,890 | -11.7% |
| Tangible fixed assets | 22/27 | €297,789 | €262,899 | -€34,890 | -11.7% |
| Land and buildings | 22 | €296,692 | €262,168 | -€34,524 | -11.6% |
| Plant, machinery and equipment | 23 | €1,097 | €731 | -€366 | -33.3% |
| Current assets | 29/58 | €35,936 | €59,422 | +€23,486 | +65.4% |
| Amounts receivable within one year | 40/41 | €1,045 | €14 | -€1,031 | -98.7% |
| Trade receivables | 40 | €846 | €14 | -€831 | -98.3% |
| Other amounts receivable | 41 | €200 | - | -€200 | |
| Cash at bank and in hand | 54/58 | €34,890 | €59,408 | +€24,518 | +70.3% |
| Total equity and liabilities | 10/49 | €333,725 | €322,321 | -€11,403 | -3.4% |
| Equity | 10/15 | €219,219 | €200,599 | -€18,619 | -8.5% |
| Contributions | 10/11 | €228,600 | €228,600 | = | 0.0% |
| Reserves | 13 | €24,803 | €24,803 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,044 | €22,044 | = | 0.0% |
| Distributable reserves | 133 | €2,759 | €2,759 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,156 | -€163,085 | -€5,928 | -3.8% |
| Investment grants | 15 | €122,972 | €110,281 | -€12,691 | -10.3% |
| Amounts payable | 17/49 | €114,506 | €121,722 | +€7,216 | +6.3% |
| Amounts payable within one year | 42/48 | €114,506 | €121,722 | +€7,216 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €600 | €800 | +€200 | +33.3% |
| Trade debts | 44 | €476 | €88 | -€388 | -81.6% |
| Suppliers | 440/4 | €476 | €88 | -€388 | -81.6% |
| Taxes, remuneration and social security | 45 | - | €425 | +€425 | |
| Taxes | 450/3 | - | €425 | +€425 | |
| Other amounts payable | 47/48 | €113,430 | €120,410 | +€6,980 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,680 | €34,890 | -€11,790 | -25.3% |
| Other operating charges | 640/8 | €2,713 | €2,785 | +€72 | +2.6% |
| Gross operating margin | 9900 | €28,807 | €19,102 | -€9,705 | -33.7% |
| Operating profit (loss) | 9901 | -€20,587 | -€18,573 | +€2,014 | +9.8% |
| Financial income | 75/76B | €12,711 | €12,701 | -€10 | -0.1% |
| Recurring financial income | 75 | €12,691 | €12,691 | = | 0.0% |
| Non-recurring financial income | 76B | €20 | €10 | -€10 | -50.0% |
| Financial charges | 65/66B | €3,648 | €57 | -€3,592 | -98.4% |
| Recurring financial charges | 65 | €171 | €57 | -€115 | -67.0% |
| Non-recurring financial charges | 66B | €3,477 | - | -€3,477 | |
| Profit (loss) for the period before taxes | 9903 | -€11,524 | -€5,928 | +€5,596 | +48.6% |
| Profit (loss) for the period | 9904 | -€11,524 | -€5,928 | +€5,596 | +48.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,524 | -€5,928 | +€5,596 | +48.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.