CoApCo: 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.
CoApCo
Largest movements
- Tangible fixed assets +€42,240
up €42,240 (+80.8%), from €52,263 to €94,503
of which Furniture and vehicles: +€50,595
- Financial fixed assets -€26,200
down €26,200 (-34.4%), from €76,200 to €50,000
- Cash +€22,713
up €22,713 (+116%), from €19,626 to €42,339
mainly Other debts (+€49,149) and Debts after one year (+€39,187)
- Receivables within one year -€8,019
down €8,019 (-18.1%), from €44,278 to €36,260
of which Trade receivables: -€12,380
- Profit (loss) carried forward -€65,574
new in 2025: -€65,574
- Other debts +€49,149
up €49,149 (+48.8%), from €100,707 to €149,856
- Debts after one year +€39,187
up €39,187 (+636%), from €6,166 to €45,353
- Current portion of long-term debt +€8,115
up €8,115 (+161%), from €5,053 to €13,167
- Financial charges +€76,548
up €76,548 (+9,648%), from €793 to €77,341
of which Non-recurring financial charges: +€76,200
- Gross operating margin +€20,770
up €20,770 (+133%), from €15,675 to €36,445
- Depreciation +€4,853
up €4,853 (+34.8%), from €13,959 to €18,812
- Other operating charges +€2,886
up €2,886 (+263%), from €1,099 to €3,986
- Taxes +€1,479
up €1,479 (+130%), from €1,142 to €2,621
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.
Derived cash bridge
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 | €192,643 | €223,337 | +€30,694 | +15.9% |
| Fixed assets | 21/28 | €128,463 | €144,503 | +€16,040 | +12.5% |
| Tangible fixed assets | 22/27 | €52,263 | €94,503 | +€42,240 | +80.8% |
| Land and buildings | 22 | €15,738 | €10,069 | -€5,668 | -36.0% |
| Plant, machinery and equipment | 23 | €1,335 | €1,335 | = | 0.0% |
| Furniture and vehicles | 24 | €14,718 | €65,313 | +€50,595 | +344% |
| Other tangible fixed assets | 26 | €20,472 | €17,785 | -€2,687 | -13.1% |
| Financial fixed assets | 28 | €76,200 | €50,000 | -€26,200 | -34.4% |
| Current assets | 29/58 | €64,180 | €78,834 | +€14,654 | +22.8% |
| Amounts receivable within one year | 40/41 | €44,278 | €36,260 | -€8,019 | -18.1% |
| Trade receivables | 40 | €27,067 | €14,687 | -€12,380 | -45.7% |
| Other amounts receivable | 41 | €17,212 | €21,573 | +€4,361 | +25.3% |
| Cash at bank and in hand | 54/58 | €19,626 | €42,339 | +€22,713 | +116% |
| Deferred charges and accrued income | 490/1 | €276 | €235 | -€41 | -14.7% |
| Total equity and liabilities | 10/49 | €192,643 | €223,337 | +€30,694 | +15.9% |
| Equity | 10/15 | €77,187 | €10,991 | -€66,196 | -85.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €70,987 | €70,365 | -€622 | -0.9% |
| Distributable reserves | 133 | €70,987 | €70,365 | -€622 | -0.9% |
| Profit (loss) carried forward | 14 | - | -€65,574 | -€65,574 | |
| Amounts payable | 17/49 | €115,456 | €212,345 | +€96,890 | +83.9% |
| Amounts payable after more than one year | 17 | €6,166 | €45,353 | +€39,187 | +636% |
| Financial debts | 170/4 | €6,166 | €45,353 | +€39,187 | +636% |
| Amounts payable within one year | 42/48 | €107,790 | €165,493 | +€57,703 | +53.5% |
| Current portion of amounts payable after more than one year | 42 | €5,053 | €13,167 | +€8,115 | +161% |
| Trade debts | 44 | €516 | €955 | +€439 | +85.1% |
| Suppliers | 440/4 | €516 | €955 | +€439 | +85.1% |
| Taxes, remuneration and social security | 45 | €1,515 | €1,515 | = | 0.0% |
| Taxes | 450/3 | €1,515 | €1,515 | = | 0.0% |
| Other amounts payable | 47/48 | €100,707 | €149,856 | +€49,149 | +48.8% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,338 | +€9,338 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,959 | €18,812 | +€4,853 | +34.8% |
| Other operating charges | 640/8 | €1,099 | €3,986 | +€2,886 | +263% |
| Gross operating margin | 9900 | €15,675 | €36,445 | +€20,770 | +133% |
| Operating profit (loss) | 9901 | €617 | €13,647 | +€13,031 | +2,114% |
| Financial income | 75/76B | €81 | €119 | +€38 | +46.9% |
| Recurring financial income | 75 | €81 | €119 | +€38 | +46.9% |
| Financial charges | 65/66B | €793 | €77,341 | +€76,548 | +9,648% |
| Recurring financial charges | 65 | €793 | €1,141 | +€348 | +43.9% |
| Non-recurring financial charges | 66B | - | €76,200 | +€76,200 | |
| Profit (loss) for the period before taxes | 9903 | -€96 | -€63,575 | -€63,479 | -66,110% |
| Income taxes | 67/77 | €1,142 | €2,621 | +€1,479 | +130% |
| Profit (loss) for the period | 9904 | -€1,238 | -€66,196 | -€64,958 | -5,248% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,238 | -€66,196 | -€64,958 | -5,248% |
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 27 October 2026 via checked.be.