Compelec: what changed
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)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it 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 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.