COM'CERT: 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.
COM'CERT
Largest movements
- Receivables within one year +€90,356
up €90,356 (+125.4%), from €72,062 to €162,417
of which Trade receivables: +€96,338
- Cash -€77,743
down €77,743 (-97.6%), from €79,668 to €1,925
mainly Receivables within one year (-€90,356) and Investment in fixed assets (net) (-€69,458)
- Receivables after one year -€19,349
down €19,349 (-10.1%), from €191,507 to €172,158
- Tangible fixed assets +€15,310
up €15,310 (+13.0%), from €117,499 to €132,809
of which Land and buildings: +€27,619
- Trade debts +€16,850
up €16,850 (+72.5%), from €23,238 to €40,087
- Debts after one year -€9,352
down €9,352 (-59.8%), from €15,652 to €6,300
- Reserves -€9,188
down €9,188 (-2.7%), from €334,558 to €325,370
- Short-term financial debts +€4,886
new in 2025: €4,886
- Current portion of long-term debt +€4,863
up €4,863 (+16.6%), from €29,237 to €34,100
- Gross operating margin +€26,462
up €26,462 (+13.8%), from €191,845 to €218,307
- Taxes +€4,839
up €4,839 (+41.3%), from €11,716 to €16,555
- Depreciation +€4,512
up €4,512 (+9.1%), from €49,636 to €54,148
- Staff costs +€2,432
up €2,432 (+2.4%), from €101,972 to €104,405
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 | €460,961 | €469,579 | +€8,618 | +1.9% |
| Fixed assets | 21/28 | €117,499 | €132,809 | +€15,310 | +13.0% |
| Tangible fixed assets | 22/27 | €117,499 | €132,809 | +€15,310 | +13.0% |
| Land and buildings | 22 | €14,197 | €41,816 | +€27,619 | +194.5% |
| Plant, machinery and equipment | 23 | €10,962 | €6,915 | -€4,048 | -36.9% |
| Furniture and vehicles | 24 | €92,340 | €84,079 | -€8,261 | -8.9% |
| Current assets | 29/58 | €343,462 | €336,770 | -€6,692 | -1.9% |
| Amounts receivable after more than one year | 29 | €191,507 | €172,158 | -€19,349 | -10.1% |
| Other amounts receivable | 291 | €191,507 | €172,158 | -€19,349 | -10.1% |
| Amounts receivable within one year | 40/41 | €72,062 | €162,417 | +€90,356 | +125.4% |
| Trade receivables | 40 | €47,632 | €143,970 | +€96,338 | +202.3% |
| Other amounts receivable | 41 | €24,430 | €18,447 | -€5,983 | -24.5% |
| Cash at bank and in hand | 54/58 | €79,668 | €1,925 | -€77,743 | -97.6% |
| Deferred charges and accrued income | 490/1 | €226 | €270 | +€44 | +19.6% |
| Total equity and liabilities | 10/49 | €460,961 | €469,579 | +€8,618 | +1.9% |
| Equity | 10/15 | €340,758 | €331,570 | -€9,188 | -2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €334,558 | €325,370 | -€9,188 | -2.7% |
| Distributable reserves | 133 | €334,558 | €325,370 | -€9,188 | -2.7% |
| Amounts payable | 17/49 | €120,203 | €138,010 | +€17,806 | +14.8% |
| Amounts payable after more than one year | 17 | €15,652 | €6,300 | -€9,352 | -59.8% |
| Financial debts | 170/4 | €15,652 | €6,300 | -€9,352 | -59.8% |
| Amounts payable within one year | 42/48 | €104,551 | €131,579 | +€27,028 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €29,237 | €34,100 | +€4,863 | +16.6% |
| Financial debts | 43 | - | €4,886 | +€4,886 | |
| Credit institutions | 430/8 | - | €4,886 | +€4,886 | |
| Trade debts | 44 | €23,238 | €40,087 | +€16,850 | +72.5% |
| Suppliers | 440/4 | €23,238 | €40,087 | +€16,850 | +72.5% |
| Advances received on contracts in progress | 46 | €24,200 | €24,200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €27,877 | €24,063 | -€3,814 | -13.7% |
| Taxes | 450/3 | €22,285 | €18,471 | -€3,814 | -17.1% |
| Remuneration and social security | 454/9 | €5,592 | €5,592 | = | 0.0% |
| Other amounts payable | 47/48 | - | €4,243 | +€4,243 | |
| Accrued charges and deferred income | 492/3 | - | €131 | +€131 | |
| Remuneration, social security and pensions | 62 | €101,972 | €104,405 | +€2,432 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,636 | €54,148 | +€4,512 | +9.1% |
| Other operating charges | 640/8 | €515 | €531 | +€16 | +3.1% |
| Gross operating margin | 9900 | €191,845 | €218,307 | +€26,462 | +13.8% |
| Operating profit (loss) | 9901 | €39,721 | €59,223 | +€19,502 | +49.1% |
| Financial income | 75/76B | €3,924 | €3,416 | -€508 | -12.9% |
| Recurring financial income | 75 | €3,924 | €3,416 | -€508 | -12.9% |
| Financial charges | 65/66B | €1,567 | €1,050 | -€517 | -33.0% |
| Recurring financial charges | 65 | €1,567 | €1,050 | -€517 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €42,078 | €61,589 | +€19,511 | +46.4% |
| Income taxes | 67/77 | €11,716 | €16,555 | +€4,839 | +41.3% |
| Profit (loss) for the period | 9904 | €30,362 | €45,034 | +€14,672 | +48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,362 | €45,034 | +€14,672 | +48.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.