COMED: 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.
COMED
Largest movements
- Cash -€54,883
down €54,883 (-49.5%), from €110,971 to €56,088
mainly Net result for the year (-€57,010) and Debts after one year (-€13,697)
- Tangible fixed assets -€11,340
down €11,340 (-28.8%), from €39,401 to €28,061
of which Furniture and vehicles: -€11,929
- Receivables within one year -€8,696
down €8,696 (-10.9%), from €79,942 to €71,246
of which Other amounts receivable: -€8,731
- Profit (loss) carried forward -€57,010
down €57,010 (-47.8%), from €119,391 to €62,381
- Debts after one year -€13,697
no longer reported in 2025 (was €13,697)
- Tax, wage and social debts +€5,780
up €5,780 (+17.0%), from €33,980 to €39,760
of which Remuneration and social security: +€5,348
- Other debts -€5,682
down €5,682 (-43.8%), from €12,959 to €7,277
- Trade debts -€2,705
down €2,705 (-22.7%), from €11,924 to €9,219
- Gross operating margin -€38,831
down €38,831 (-29.2%), from €132,890 to €94,059
- Staff costs +€26,678
up €26,678 (+25.1%), from €106,086 to €132,764
- Taxes -€3,133
down €3,133 (-93.3%), from €3,359 to €226
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 | €233,356 | €159,149 | -€74,207 | -31.8% |
| Fixed assets | 21/28 | €41,801 | €30,461 | -€11,340 | -27.1% |
| Tangible fixed assets | 22/27 | €39,401 | €28,061 | -€11,340 | -28.8% |
| Plant, machinery and equipment | 23 | €285 | €874 | +€589 | +206.7% |
| Furniture and vehicles | 24 | €39,116 | €27,187 | -€11,929 | -30.5% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €191,555 | €128,688 | -€62,867 | -32.8% |
| Amounts receivable within one year | 40/41 | €79,942 | €71,246 | -€8,696 | -10.9% |
| Trade receivables | 40 | €23,237 | €23,272 | +€35 | +0.2% |
| Other amounts receivable | 41 | €56,705 | €47,974 | -€8,731 | -15.4% |
| Cash at bank and in hand | 54/58 | €110,971 | €56,088 | -€54,883 | -49.5% |
| Deferred charges and accrued income | 490/1 | €642 | €1,354 | +€712 | +110.9% |
| Total equity and liabilities | 10/49 | €233,356 | €159,149 | -€74,207 | -31.8% |
| Equity | 10/15 | €146,206 | €89,196 | -€57,010 | -39.0% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,391 | €62,381 | -€57,010 | -47.8% |
| Amounts payable | 17/49 | €87,150 | €69,953 | -€17,197 | -19.7% |
| Amounts payable after more than one year | 17 | €13,697 | - | -€13,697 | |
| Financial debts | 170/4 | €13,697 | - | -€13,697 | |
| Amounts payable within one year | 42/48 | €73,453 | €69,953 | -€3,500 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €14,590 | €13,697 | -€893 | -6.1% |
| Trade debts | 44 | €11,924 | €9,219 | -€2,705 | -22.7% |
| Suppliers | 440/4 | €11,924 | €9,219 | -€2,705 | -22.7% |
| Taxes, remuneration and social security | 45 | €33,980 | €39,760 | +€5,780 | +17.0% |
| Taxes | 450/3 | €17,457 | €17,889 | +€432 | +2.5% |
| Remuneration and social security | 454/9 | €16,523 | €21,871 | +€5,348 | +32.4% |
| Other amounts payable | 47/48 | €12,959 | €7,277 | -€5,682 | -43.8% |
| Remuneration, social security and pensions | 62 | €106,086 | €132,764 | +€26,678 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,037 | €15,484 | +€447 | +3.0% |
| Other operating charges | 640/8 | €1,357 | €1,613 | +€256 | +18.9% |
| Gross operating margin | 9900 | €132,890 | €94,059 | -€38,831 | -29.2% |
| Operating profit (loss) | 9901 | €10,410 | -€55,802 | -€66,212 | |
| Financial income | 75/76B | €274 | €176 | -€98 | -35.8% |
| Recurring financial income | 75 | €274 | €176 | -€98 | -35.8% |
| Financial charges | 65/66B | €1,861 | €1,158 | -€703 | -37.8% |
| Recurring financial charges | 65 | €1,861 | €1,158 | -€703 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €8,823 | -€56,784 | -€65,607 | |
| Income taxes | 67/77 | €3,359 | €226 | -€3,133 | -93.3% |
| Profit (loss) for the period | 9904 | €5,464 | -€57,010 | -€62,474 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,464 | -€57,010 | -€62,474 |
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 6 October 2026 via checked.be.