How does compounding work with super fees? A little lost on my superannuation.

I counted all the contributions, it adds up to $70,197.67 however my current balance is $62,264.16

I noticed since I started super that when for eg $5000 was put in, it’ll go down to $4700 etc.

Do I just need to wait longer for super to compound compared to the contributions (employer contributes + my salary sacrifice)?

My insurance cover is $5.07 per week. My core strategy is high risk. I’m using rest super.

Thank you I’d appreciate all help because I’m lost on this one.