COMPOBEL: 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.
COMPOBEL
Largest movements
- Receivables within one year +€548,822
up €548,822 (+158.5%), from €346,232 to €895,054
of which Other amounts receivable: +€554,594
- Cash -€329,147
down €329,147 (-61.1%), from €539,096 to €209,949
mainly Contributions, distributions and other (-€650,000) and Receivables within one year (-€548,822)
- Current investments +€300,000
new in 2025: €300,000
- Tangible fixed assets +€128,354
up €128,354 (+20.9%), from €613,288 to €741,643
of which Other tangible fixed assets: +€126,396
- Other debts +€499,561
up €499,561 (+332.1%), from €150,439 to €650,000
- Debts after one year +€68,333
new in 2025: €68,333
- Reserves +€62,464
up €62,464 (+5.5%), from €1.1m to €1.2m
of which Distributable reserves: +€62,464
- Current portion of long-term debt +€41,000
new in 2025: €41,000
- Tax, wage and social debts -€24,127
down €24,127 (-71.3%), from €33,840 to €9,713
of which Taxes: -€21,544
- Gross operating margin +€213,303
up €213,303 (+26.6%), from €802,712 to €1.0m
- Taxes -€28,284
down €28,284 (-26.1%), from €108,206 to €79,922
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 | €1,503,980 | €2,153,125 | +€649,145 | +43.2% |
| Fixed assets | 21/28 | €613,288 | €741,643 | +€128,354 | +20.9% |
| Tangible fixed assets | 22/27 | €613,288 | €741,643 | +€128,354 | +20.9% |
| Land and buildings | 22 | €349,816 | €313,218 | -€36,598 | -10.5% |
| Plant, machinery and equipment | 23 | €225,712 | €245,162 | +€19,451 | +8.6% |
| Furniture and vehicles | 24 | €37,761 | €56,866 | +€19,105 | +50.6% |
| Other tangible fixed assets | 26 | - | €126,396 | +€126,396 | |
| Current assets | 29/58 | €890,692 | €1,411,482 | +€520,790 | +58.5% |
| Amounts receivable within one year | 40/41 | €346,232 | €895,054 | +€548,822 | +158.5% |
| Trade receivables | 40 | €146,230 | €140,458 | -€5,772 | -3.9% |
| Other amounts receivable | 41 | €200,001 | €754,596 | +€554,594 | +277.3% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €539,096 | €209,949 | -€329,147 | -61.1% |
| Deferred charges and accrued income | 490/1 | €5,365 | €6,480 | +€1,115 | +20.8% |
| Total equity and liabilities | 10/49 | €1,503,980 | €2,153,125 | +€649,145 | +43.2% |
| Equity | 10/15 | €1,252,930 | €1,315,394 | +€62,464 | +5.0% |
| Contributions | 10/11 | €109,337 | €109,337 | = | 0.0% |
| Reserves | 13 | €1,143,593 | €1,206,057 | +€62,464 | +5.5% |
| Non-distributable reserves | 130/1 | €9,424 | €9,424 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,424 | €9,424 | = | 0.0% |
| Distributable reserves | 133 | €1,134,169 | €1,196,633 | +€62,464 | +5.5% |
| Amounts payable | 17/49 | €251,051 | €837,731 | +€586,681 | +233.7% |
| Amounts payable after more than one year | 17 | - | €68,333 | +€68,333 | |
| Financial debts | 170/4 | - | €68,333 | +€68,333 | |
| Amounts payable within one year | 42/48 | €239,302 | €768,798 | +€529,496 | +221.3% |
| Current portion of amounts payable after more than one year | 42 | - | €41,000 | +€41,000 | |
| Trade debts | 44 | €55,023 | €68,085 | +€13,062 | +23.7% |
| Suppliers | 440/4 | €55,023 | €68,085 | +€13,062 | +23.7% |
| Taxes, remuneration and social security | 45 | €33,840 | €9,713 | -€24,127 | -71.3% |
| Taxes | 450/3 | €27,762 | €6,218 | -€21,544 | -77.6% |
| Remuneration and social security | 454/9 | €6,078 | €3,495 | -€2,583 | -42.5% |
| Other amounts payable | 47/48 | €150,439 | €650,000 | +€499,561 | +332.1% |
| Accrued charges and deferred income | 492/3 | €11,749 | €600 | -€11,148 | -94.9% |
| Remuneration, social security and pensions | 62 | €48,915 | €52,915 | +€4,000 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,279 | €161,974 | +€2,695 | +1.7% |
| Other operating charges | 640/8 | €12,237 | €9,064 | -€3,173 | -25.9% |
| Non-recurring operating charges | 66A | - | €0 | +€0 | |
| Gross operating margin | 9900 | €802,712 | €1,016,015 | +€213,303 | +26.6% |
| Operating profit (loss) | 9901 | €582,280 | €792,062 | +€209,782 | +36.0% |
| Financial income | 75/76B | €2,210 | €3,122 | +€912 | +41.2% |
| Recurring financial income | 75 | €2,210 | €3,122 | +€912 | +41.2% |
| Financial charges | 65/66B | €111 | €2,797 | +€2,686 | +2410.9% |
| Recurring financial charges | 65 | €111 | €1,197 | +€1,086 | +974.5% |
| Non-recurring financial charges | 66B | - | €1,600 | +€1,600 | |
| Profit (loss) for the period before taxes | 9903 | €584,379 | €792,387 | +€208,008 | +35.6% |
| Income taxes | 67/77 | €108,206 | €79,922 | -€28,284 | -26.1% |
| Profit (loss) for the period | 9904 | €476,172 | €712,464 | +€236,292 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €476,172 | €712,464 | +€236,292 | +49.6% |
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 11 October 2026 via checked.be.