Coepon: 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.
Coepon
Largest movements
- Receivables within one year +€69,844
up €69,844 (+116%), from €60,117 to €129,961
of which Other amounts receivable: +€67,289
- Tangible fixed assets -€16,422
down €16,422 (-4.7%), from €349,202 to €332,780
of which Land and buildings: -€14,300
- Cash -€5,962
down €5,962 (-53.9%), from €11,066 to €5,104
mainly Receivables within one year (-€69,844) and Debts after one year (-€16,856)
- Reserves +€56,803
up €56,803 (+77.3%), from €73,478 to €130,281
of which Distributable reserves: +€56,803
- Debts after one year -€16,856
down €16,856 (-5.5%), from €306,676 to €289,819
- Tax, wage and social debts +€5,907
up €5,907 (+110%), from €5,366 to €11,273
- Gross operating margin +€42,968
up €42,968 (+76.5%), from €56,172 to €99,139
- Taxes +€8,709
up €8,709 (+156%), from €5,590 to €14,299
- Depreciation +€5,568
up €5,568 (+51.3%), from €10,854 to €16,422
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 | €423,053 | €469,420 | +€46,367 | +11.0% |
| Fixed assets | 21/28 | €349,202 | €332,780 | -€16,422 | -4.7% |
| Tangible fixed assets | 22/27 | €349,202 | €332,780 | -€16,422 | -4.7% |
| Land and buildings | 22 | €332,105 | €317,805 | -€14,300 | -4.3% |
| Plant, machinery and equipment | 23 | €475 | €397 | -€79 | -16.6% |
| Furniture and vehicles | 24 | €985 | €331 | -€655 | -66.5% |
| Other tangible fixed assets | 26 | €15,636 | €14,248 | -€1,388 | -8.9% |
| Current assets | 29/58 | €73,851 | €136,640 | +€62,788 | +85.0% |
| Amounts receivable within one year | 40/41 | €60,117 | €129,961 | +€69,844 | +116% |
| Trade receivables | 40 | €240 | €2,795 | +€2,555 | +1,066% |
| Other amounts receivable | 41 | €59,877 | €127,167 | +€67,289 | +112% |
| Cash at bank and in hand | 54/58 | €11,066 | €5,104 | -€5,962 | -53.9% |
| Deferred charges and accrued income | 490/1 | €2,668 | €1,574 | -€1,094 | -41.0% |
| Total equity and liabilities | 10/49 | €423,053 | €469,420 | +€46,367 | +11.0% |
| Equity | 10/15 | €92,078 | €148,881 | +€56,803 | +61.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,478 | €130,281 | +€56,803 | +77.3% |
| Non-distributable reserves | 130/1 | €886 | €886 | = | 0.0% |
| Reserves not available under the articles | 1311 | €886 | €886 | = | 0.0% |
| Distributable reserves | 133 | €72,591 | €129,395 | +€56,803 | +78.3% |
| Amounts payable | 17/49 | €330,976 | €320,539 | -€10,437 | -3.2% |
| Amounts payable after more than one year | 17 | €306,676 | €289,819 | -€16,856 | -5.5% |
| Financial debts | 170/4 | €306,676 | €289,819 | -€16,856 | -5.5% |
| Amounts payable within one year | 42/48 | €24,300 | €30,720 | +€6,419 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | €16,271 | €16,856 | +€585 | +3.6% |
| Trade debts | 44 | €2,664 | €2,591 | -€73 | -2.7% |
| Suppliers | 440/4 | €2,664 | €2,591 | -€73 | -2.7% |
| Taxes, remuneration and social security | 45 | €5,366 | €11,273 | +€5,907 | +110% |
| Taxes | 450/3 | €5,366 | €11,273 | +€5,907 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,854 | €16,422 | +€5,568 | +51.3% |
| Other operating charges | 640/8 | €1,339 | €1,817 | +€477 | +35.7% |
| Gross operating margin | 9900 | €56,172 | €99,139 | +€42,968 | +76.5% |
| Operating profit (loss) | 9901 | €43,978 | €80,901 | +€36,923 | +84.0% |
| Financial income | 75/76B | €1,391 | €1,641 | +€250 | +17.9% |
| Recurring financial income | 75 | €1,391 | €1,641 | +€250 | +17.9% |
| Financial charges | 65/66B | €11,945 | €11,439 | -€505 | -4.2% |
| Recurring financial charges | 65 | €11,945 | €11,439 | -€505 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €33,425 | €71,103 | +€37,678 | +113% |
| Income taxes | 67/77 | €5,590 | €14,299 | +€8,709 | +156% |
| Profit (loss) for the period | 9904 | €27,835 | €56,803 | +€28,969 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €27,835 | €56,803 | +€28,969 | +104% |
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 20 October 2026 via checked.be.