I believe so. It might also strap on a tokenized script that is then interpreted by the already compiled portion of the exe.

An old compiler from my highschool days called 'Turing' used to do this whenever it 'compiled' one of your programs making an exe that was really just an interpreter for the code you made after it was turned into symbols that it would be able to use a little more efficiently.

Though having a pre-compiled EXE that uses modifiable data files would be the easier way.