Compelec: 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.
Compelec
Largest movements
- Current investments -€254,518
down €254,518 (-64.0%), from €397,953 to €143,435
- Cash +€139,580
up €139,580 (+557%), from €25,073 to €164,653
mainly Current investments (+€254,518) and Net result for the year (+€21,683)
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Other debts -€45,182
down €45,182 (-59.1%), from €76,498 to €31,317
- Profit (loss) carried forward +€21,683
up €21,683 (+30.9%), from -€70,194 to -€48,511
- Trade debts +€8,585
up €8,585 (+211%), from €4,060 to €12,645
- Financial income +€59,961
up €59,961 (+183%), from €32,683 to €92,644
- Financial charges +€16,167
up €16,167 (+82.5%), from €19,594 to €35,760
- Gross operating margin -€9,581
down €9,581 (-37.4%), from -€25,619 to -€35,201
- Other operating charges -€1,646
no longer reported in 2025 (was €1,646)
- Depreciation -€821
no longer reported in 2025 (was €821)
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 | €431,806 | €316,893 | -€114,914 | -26.6% |
| Current assets | 29/58 | €431,806 | €316,893 | -€114,914 | -26.6% |
| Amounts receivable within one year | 40/41 | €8,781 | €7,951 | -€830 | -9.4% |
| Other amounts receivable | 41 | €8,781 | €7,951 | -€830 | -9.4% |
| Current investments | 50/53 | €397,953 | €143,435 | -€254,518 | -64.0% |
| Cash at bank and in hand | 54/58 | €25,073 | €164,653 | +€139,580 | +557% |
| Deferred charges and accrued income | 490/1 | - | €854 | +€854 | |
| Total equity and liabilities | 10/49 | €431,806 | €316,893 | -€114,914 | -26.6% |
| Equity | 10/15 | €251,249 | €272,931 | +€21,683 | +8.6% |
| Contributions | 10/11 | €306,600 | €306,600 | = | 0.0% |
| Reserves | 13 | €14,842 | €14,842 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,982 | €12,982 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,194 | -€48,511 | +€21,683 | +30.9% |
| Amounts payable | 17/49 | €180,558 | €43,961 | -€136,597 | -75.7% |
| Amounts payable within one year | 42/48 | €180,558 | €43,961 | -€136,597 | -75.7% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Other loans | 439 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €4,060 | €12,645 | +€8,585 | +211% |
| Suppliers | 440/4 | €4,060 | €12,645 | +€8,585 | +211% |
| Other amounts payable | 47/48 | €76,498 | €31,317 | -€45,182 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €821 | - | -€821 | |
| Other operating charges | 640/8 | €1,646 | - | -€1,646 | |
| Gross operating margin | 9900 | -€25,619 | -€35,201 | -€9,581 | -37.4% |
| Operating profit (loss) | 9901 | -€28,087 | -€35,201 | -€7,114 | -25.3% |
| Financial income | 75/76B | €32,683 | €92,644 | +€59,961 | +183% |
| Recurring financial income | 75 | €32,683 | €92,644 | +€59,961 | +183% |
| Financial charges | 65/66B | €19,594 | €35,760 | +€16,167 | +82.5% |
| Recurring financial charges | 65 | €19,594 | €35,760 | +€16,167 | +82.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,998 | €21,683 | +€36,681 | |
| Profit (loss) for the period | 9904 | -€14,998 | €21,683 | +€36,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,998 | €21,683 | +€36,681 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.