COPA: what changed
Two fiscal 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.
COPA
Largest movements
- Tangible fixed assets -€2,730
down €2,730 (-25.4%), from €10,761 to €8,032
of which Leasing and similar rights: -€2,530
- Debts after one year -€2,633
no longer reported in 2025 (was €2,633)
- Other debts +€2,551
up €2,551 (+6.2%), from €41,095 to €43,646
- Profit (loss) carried forward -€2,094
down €2,094 (-2.1%), from -€99,094 to -€101,189
- Trade debts -€448
down €448 (-39.6%), from €1,132 to €684
- Current portion of long-term debt -€119
down €119 (-4.3%), from €2,752 to €2,633
- Gross operating margin +€505
up €505 (+42.1%), from €1,200 to €1,705
- Financial charges -€208
down €208 (-33.2%), from €626 to €418
- Other operating charges -€168
down €168 (-20.5%), from €819 to €651
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.
Cash bridge derived
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 | €11,018 | €8,274 | -€2,744 | -24.9% |
| Fixed assets | 21/28 | €10,761 | €8,032 | -€2,730 | -25.4% |
| Tangible fixed assets | 22/27 | €10,761 | €8,032 | -€2,730 | -25.4% |
| Land and buildings | 22 | €6,197 | €6,197 | = | 0.0% |
| Plant, machinery and equipment | 23 | €364 | €164 | -€200 | -55.0% |
| Leasing and similar rights | 25 | €4,200 | €1,670 | -€2,530 | -60.2% |
| Current assets | 29/58 | €257 | €243 | -€14 | -5.3% |
| Cash at bank and in hand | 54/58 | €257 | €243 | -€14 | -5.3% |
| Total equity and liabilities | 10/49 | €11,018 | €8,274 | -€2,744 | -24.9% |
| Equity | 10/15 | -€36,594 | -€38,689 | -€2,094 | -5.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,094 | -€101,189 | -€2,094 | -2.1% |
| Amounts payable | 17/49 | €47,612 | €46,963 | -€649 | -1.4% |
| Amounts payable after more than one year | 17 | €2,633 | - | -€2,633 | |
| Financial debts | 170/4 | €2,633 | - | -€2,633 | |
| Amounts payable within one year | 42/48 | €44,979 | €46,963 | +€1,984 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €2,752 | €2,633 | -€119 | -4.3% |
| Trade debts | 44 | €1,132 | €684 | -€448 | -39.6% |
| Suppliers | 440/4 | €1,132 | €684 | -€448 | -39.6% |
| Other amounts payable | 47/48 | €41,095 | €43,646 | +€2,551 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,730 | €2,730 | = | 0.0% |
| Other operating charges | 640/8 | €819 | €651 | -€168 | -20.5% |
| Gross operating margin | 9900 | €1,200 | €1,705 | +€505 | +42.1% |
| Operating profit (loss) | 9901 | -€2,349 | -€1,676 | +€673 | +28.7% |
| Financial charges | 65/66B | €626 | €418 | -€208 | -33.2% |
| Recurring financial charges | 65 | €626 | €418 | -€208 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,975 | -€2,094 | +€881 | +29.6% |
| Profit (loss) for the period | 9904 | -€2,975 | -€2,094 | +€881 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,975 | -€2,094 | +€881 | +29.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.