COMED: 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.
COMED
Largest movements
- Cash +€75,694
up €75,694 (+20.5%), from €369,164 to €444,858
mainly Net result for the year (+€121,223) and Other debts (+€107,000)
- Tangible fixed assets +€18,784
up €18,784 (+23.1%), from €81,287 to €100,071
of which Other tangible fixed assets: +€18,678
- Other debts +€107,000
new in 2025: €107,000
- Debts after one year -€27,013
down €27,013 (-36.3%), from €74,431 to €47,418
- Reserves +€14,200
up €14,200 (+3.4%), from €415,810 to €430,010
- Tax, wage and social debts +€6,423
up €6,423 (+316%), from €2,035 to €8,457
of which Taxes: +€3,274
- Gross operating margin +€29,972
up €29,972 (+14.3%), from €210,003 to €239,975
- Staff costs +€15,176
up €15,176 (+51.1%), from €29,725 to €44,901
- Depreciation -€9,946
down €9,946 (-31.9%), from €31,148 to €21,202
- Taxes +€9,607
up €9,607 (+22.0%), from €43,667 to €53,274
- Financial income +€5,829
up €5,829 (+641%), from €909 to €6,738
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 | €542,102 | €637,194 | +€95,092 | +17.5% |
| Fixed assets | 21/28 | €81,287 | €100,071 | +€18,784 | +23.1% |
| Tangible fixed assets | 22/27 | €81,287 | €100,071 | +€18,784 | +23.1% |
| Plant, machinery and equipment | 23 | €1,593 | €2,925 | +€1,332 | +83.6% |
| Furniture and vehicles | 24 | €54,665 | €53,439 | -€1,226 | -2.2% |
| Other tangible fixed assets | 26 | €25,029 | €43,707 | +€18,678 | +74.6% |
| Current assets | 29/58 | €460,815 | €537,123 | +€76,308 | +16.6% |
| Amounts receivable within one year | 40/41 | €86,588 | €85,631 | -€957 | -1.1% |
| Other amounts receivable | 41 | €86,588 | €85,631 | -€957 | -1.1% |
| Cash at bank and in hand | 54/58 | €369,164 | €444,858 | +€75,694 | +20.5% |
| Deferred charges and accrued income | 490/1 | €5,063 | €6,635 | +€1,571 | +31.0% |
| Total equity and liabilities | 10/49 | €542,102 | €637,194 | +€95,092 | +17.5% |
| Equity | 10/15 | €430,108 | €444,332 | +€14,223 | +3.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €415,810 | €430,010 | +€14,200 | +3.4% |
| Distributable reserves | 133 | €415,810 | €430,010 | +€14,200 | +3.4% |
| Profit (loss) carried forward | 14 | €1,898 | €1,922 | +€23 | +1.2% |
| Amounts payable | 17/49 | €111,994 | €192,863 | +€80,869 | +72.2% |
| Amounts payable after more than one year | 17 | €74,431 | €47,418 | -€27,013 | -36.3% |
| Financial debts | 170/4 | €74,431 | €47,418 | -€27,013 | -36.3% |
| Amounts payable within one year | 42/48 | €37,562 | €145,444 | +€107,882 | +287% |
| Current portion of amounts payable after more than one year | 42 | €26,360 | €27,013 | +€653 | +2.5% |
| Trade debts | 44 | €9,168 | €2,974 | -€6,193 | -67.6% |
| Suppliers | 440/4 | €9,168 | €2,974 | -€6,193 | -67.6% |
| Taxes, remuneration and social security | 45 | €2,035 | €8,457 | +€6,423 | +316% |
| Taxes | 450/3 | - | €3,274 | +€3,274 | |
| Remuneration and social security | 454/9 | €2,035 | €5,183 | +€3,148 | +155% |
| Other amounts payable | 47/48 | - | €107,000 | +€107,000 | |
| Non-recurring operating income | 76A | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €29,725 | €44,901 | +€15,176 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,148 | €21,202 | -€9,946 | -31.9% |
| Other operating charges | 640/8 | €2,914 | €3,676 | +€761 | +26.1% |
| Gross operating margin | 9900 | €210,003 | €239,975 | +€29,972 | +14.3% |
| Operating profit (loss) | 9901 | €146,215 | €170,196 | +€23,980 | +16.4% |
| Financial income | 75/76B | €909 | €6,738 | +€5,829 | +641% |
| Recurring financial income | 75 | €909 | €6,738 | +€5,829 | +641% |
| Financial charges | 65/66B | €1,980 | €2,436 | +€456 | +23.0% |
| Recurring financial charges | 65 | €1,980 | €2,436 | +€456 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €145,145 | €174,497 | +€29,353 | +20.2% |
| Income taxes | 67/77 | €43,667 | €53,274 | +€9,607 | +22.0% |
| Profit (loss) for the period | 9904 | €101,477 | €121,223 | +€19,746 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €101,477 | €121,223 | +€19,746 | +19.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.