COMPELEK: 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.
COMPELEK
Largest movements
- Cash +€321,974
up €321,974 (+206.9%), from €155,583 to €477,557
mainly Debts after one year (+€252,763) and Other debts (+€87,142)
- Tangible fixed assets +€81,248
up €81,248 (+18.6%), from €437,574 to €518,822
of which Land and buildings: +€84,856
- Stocks and contracts +€25,881
up €25,881 (+12.8%), from €202,980 to €228,861
- Receivables within one year -€15,876
down €15,876 (-6.7%), from €237,522 to €221,646
of which Trade receivables: -€36,212
- Debts after one year +€252,763
up €252,763 (+112.8%), from €224,046 to €476,809
- Other debts +€87,142
new in 2025: €87,142
- Reserves +€73,805
up €73,805 (+9.9%), from €745,196 to €819,001
of which Distributable reserves: +€73,805
- Gross operating margin +€61,577
up €61,577 (+58.3%), from €105,606 to €167,183
- Taxes +€24,951
up €24,951 (+364.2%), from €6,851 to €31,802
- Staff costs -€21,989
down €21,989 (-75.6%), from €29,069 to €7,080
- Depreciation -€10,732
down €10,732 (-30.9%), from €34,727 to €23,995
- Financial charges +€7,407
up €7,407 (+42.2%), from €17,567 to €24,975
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 | €1,059,213 | €1,472,440 | +€413,227 | +39.0% |
| Fixed assets | 21/28 | €463,129 | €544,377 | +€81,248 | +17.5% |
| Tangible fixed assets | 22/27 | €437,574 | €518,822 | +€81,248 | +18.6% |
| Land and buildings | 22 | €391,705 | €476,561 | +€84,856 | +21.7% |
| Plant, machinery and equipment | 23 | €15,282 | €8,336 | -€6,946 | -45.5% |
| Furniture and vehicles | 24 | €15,426 | €14,808 | -€617 | -4.0% |
| Other tangible fixed assets | 26 | €15,161 | €19,116 | +€3,955 | +26.1% |
| Financial fixed assets | 28 | €25,555 | €25,555 | = | 0.0% |
| Current assets | 29/58 | €596,085 | €928,064 | +€331,979 | +55.7% |
| Stocks and contracts in progress | 3 | €202,980 | €228,861 | +€25,881 | +12.8% |
| Stocks | 30/36 | €202,980 | €228,861 | +€25,881 | +12.8% |
| Amounts receivable within one year | 40/41 | €237,522 | €221,646 | -€15,876 | -6.7% |
| Trade receivables | 40 | €140,002 | €103,790 | -€36,212 | -25.9% |
| Other amounts receivable | 41 | €97,519 | €117,855 | +€20,336 | +20.9% |
| Cash at bank and in hand | 54/58 | €155,583 | €477,557 | +€321,974 | +206.9% |
| Total equity and liabilities | 10/49 | €1,059,213 | €1,472,440 | +€413,227 | +39.0% |
| Equity | 10/15 | €751,396 | €825,201 | +€73,805 | +9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €745,196 | €819,001 | +€73,805 | +9.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €745,196 | €819,001 | +€73,805 | +9.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €307,817 | €647,239 | +€339,422 | +110.3% |
| Amounts payable after more than one year | 17 | €224,046 | €476,809 | +€252,763 | +112.8% |
| Financial debts | 170/4 | €224,046 | €476,809 | +€252,763 | +112.8% |
| Amounts payable within one year | 42/48 | €83,771 | €170,430 | +€86,659 | +103.4% |
| Current portion of amounts payable after more than one year | 42 | €21,438 | €32,250 | +€10,812 | +50.4% |
| Financial debts | 43 | €6,007 | €4,215 | -€1,792 | -29.8% |
| Credit institutions | 430/8 | €6,007 | €4,215 | -€1,792 | -29.8% |
| Trade debts | 44 | €47,834 | €35,282 | -€12,552 | -26.2% |
| Suppliers | 440/4 | €47,834 | €35,282 | -€12,552 | -26.2% |
| Taxes, remuneration and social security | 45 | €8,492 | €11,542 | +€3,050 | +35.9% |
| Taxes | 450/3 | €6,308 | €11,052 | +€4,744 | +75.2% |
| Remuneration and social security | 454/9 | €2,184 | €490 | -€1,694 | -77.6% |
| Other amounts payable | 47/48 | - | €87,142 | +€87,142 | |
| Non-recurring operating income | 76A | €11,985 | €95,540 | +€83,556 | +697.2% |
| Remuneration, social security and pensions | 62 | €29,069 | €7,080 | -€21,989 | -75.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,727 | €23,995 | -€10,732 | -30.9% |
| Other operating charges | 640/8 | €4,824 | €6,140 | +€1,316 | +27.3% |
| Non-recurring operating charges | 66A | €558 | €0 | -€558 | -100.0% |
| Gross operating margin | 9900 | €105,606 | €167,183 | +€61,577 | +58.3% |
| Operating profit (loss) | 9901 | €36,428 | €129,969 | +€93,540 | +256.8% |
| Financial income | 75/76B | €965 | €612 | -€353 | -36.5% |
| Recurring financial income | 75 | €965 | €612 | -€353 | -36.5% |
| Financial charges | 65/66B | €17,567 | €24,975 | +€7,407 | +42.2% |
| Recurring financial charges | 65 | €17,567 | €24,975 | +€7,407 | +42.2% |
| Profit (loss) for the period before taxes | 9903 | €19,826 | €105,607 | +€85,780 | +432.7% |
| Income taxes | 67/77 | €6,851 | €31,802 | +€24,951 | +364.2% |
| Profit (loss) for the period | 9904 | €12,976 | €73,805 | +€60,829 | +468.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,976 | €73,805 | +€60,829 | +468.8% |
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 1 October 2026 via checked.be.