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
- Cash +€685,772
up €685,772 (+375.9%), from €182,441 to €868,212
mainly Contributions, distributions and other (+€389,930) and Provisions (+€124,829)
- Tangible fixed assets -€124,197
down €124,197 (-95.3%), from €130,372 to €6,175
of which Land and buildings: -€130,372
- Reserves +€426,143
up €426,143 (+632.0%), from €67,431 to €493,574
of which Tax-exempt reserves: +€389,930
- Provisions +€124,829
new in 2025: €124,829
- Gross operating margin +€553,439
up €553,439 (+3261.1%), from €16,971 to €570,410
- Taxes +€15,074
up €15,074 (+686.9%), from €2,195 to €17,269
- Depreciation -€8,970
down €8,970 (-92.7%), from €9,675 to €705
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 | €318,311 | €878,010 | +€559,699 | +175.8% |
| Fixed assets | 21/28 | €130,372 | €6,175 | -€124,197 | -95.3% |
| Tangible fixed assets | 22/27 | €130,372 | €6,175 | -€124,197 | -95.3% |
| Land and buildings | 22 | €130,372 | €0 | -€130,372 | -100.0% |
| Plant, machinery and equipment | 23 | - | €2,099 | +€2,099 | |
| Furniture and vehicles | 24 | - | €4,076 | +€4,076 | |
| Current assets | 29/58 | €187,939 | €871,835 | +€683,896 | +363.9% |
| Stocks and contracts in progress | 3 | €1,250 | €0 | -€1,250 | -100.0% |
| Stocks | 30/36 | €1,250 | €0 | -€1,250 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,765 | €2,386 | -€379 | -13.7% |
| Trade receivables | 40 | €176 | €473 | +€298 | +169.2% |
| Other amounts receivable | 41 | €2,589 | €1,913 | -€677 | -26.1% |
| Cash at bank and in hand | 54/58 | €182,441 | €868,212 | +€685,772 | +375.9% |
| Deferred charges and accrued income | 490/1 | €1,484 | €1,237 | -€247 | -16.6% |
| Total equity and liabilities | 10/49 | €318,311 | €878,010 | +€559,699 | +175.8% |
| Equity | 10/15 | €259,707 | €685,850 | +€426,143 | +164.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €67,431 | €493,574 | +€426,143 | +632.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,557 | €394,487 | +€389,930 | +8556.9% |
| Distributable reserves | 133 | €61,019 | €97,233 | +€36,213 | +59.3% |
| Profit (loss) carried forward | 14 | €173,726 | €173,726 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €124,829 | +€124,829 | |
| Deferred taxes | 168 | - | €124,829 | +€124,829 | |
| Amounts payable | 17/49 | €58,604 | €67,331 | +€8,727 | +14.9% |
| Amounts payable within one year | 42/48 | €58,604 | €67,331 | +€8,727 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €596 | €596 | = | 0.0% |
| Trade debts | 44 | €5,438 | €1,512 | -€3,927 | -72.2% |
| Suppliers | 440/4 | €5,438 | €1,512 | -€3,927 | -72.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €11,408 | €19,472 | +€8,064 | +70.7% |
| Taxes | 450/3 | €11,408 | €19,472 | +€8,064 | +70.7% |
| Other amounts payable | 47/48 | €41,162 | €45,752 | +€4,590 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,675 | €705 | -€8,970 | -92.7% |
| Other operating charges | 640/8 | €2,753 | €3,013 | +€260 | +9.4% |
| Gross operating margin | 9900 | €16,971 | €570,410 | +€553,439 | +3261.1% |
| Operating profit (loss) | 9901 | €4,543 | €566,692 | +€562,149 | +12373.2% |
| Financial income | 75/76B | €987 | €1,727 | +€739 | +74.9% |
| Recurring financial income | 75 | €987 | €1,727 | +€739 | +74.9% |
| Financial charges | 65/66B | €369 | €178 | -€191 | -51.8% |
| Recurring financial charges | 65 | €369 | €178 | -€191 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | €5,162 | €568,241 | +€563,079 | +10908.7% |
| Transfer from deferred taxes | 780 | €1,736 | €4,557 | +€2,821 | +162.6% |
| Transfer to deferred taxes | 680 | - | €519,316 | +€519,316 | |
| Income taxes | 67/77 | €2,195 | €17,269 | +€15,074 | +686.9% |
| Profit (loss) for the period | 9904 | €4,703 | €36,213 | +€31,511 | +670.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,703 | €36,213 | +€31,511 | +670.1% |
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 6 October 2026 via checked.be.