COPA BAK: 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.
COPA BAK
Largest movements
- Cash +€54,778
up €54,778 (+22.0%), from €249,020 to €303,798
mainly Net result for the year (+€114,134) and Other debts (+€53,412)
- Tangible fixed assets -€13,347
down €13,347 (-9.1%), from €146,426 to €133,079
of which Plant, machinery and equipment: -€9,948
- Receivables within one year +€9,629
up €9,629 (+35.7%), from €26,991 to €36,620
of which Other amounts receivable: +€13,527
- Other debts +€53,412
up €53,412 (+106%), from €50,319 to €103,732
- Reserves +€14,134
up €14,134 (+5.8%), from €241,893 to €256,027
of which Distributable reserves: +€14,134
- Trade debts -€11,336
down €11,336 (-31.3%), from €36,250 to €24,914
- Gross operating margin +€50,372
up €50,372 (+20.2%), from €249,136 to €299,508
- Depreciation -€17,976
down €17,976 (-40.4%), from €44,446 to €26,470
- Staff costs +€7,548
up €7,548 (+5.5%), from €137,219 to €144,767
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 | €445,106 | €501,084 | +€55,978 | +12.6% |
| Fixed assets | 21/28 | €146,426 | €133,079 | -€13,347 | -9.1% |
| Tangible fixed assets | 22/27 | €146,426 | €133,079 | -€13,347 | -9.1% |
| Land and buildings | 22 | €107,132 | €104,022 | -€3,110 | -2.9% |
| Plant, machinery and equipment | 23 | €36,365 | €26,417 | -€9,948 | -27.4% |
| Furniture and vehicles | 24 | €2,929 | €2,639 | -€290 | -9.9% |
| Current assets | 29/58 | €298,680 | €368,005 | +€69,325 | +23.2% |
| Stocks and contracts in progress | 3 | €10,985 | €12,159 | +€1,173 | +10.7% |
| Stocks | 30/36 | €10,985 | €12,159 | +€1,173 | +10.7% |
| Amounts receivable within one year | 40/41 | €26,991 | €36,620 | +€9,629 | +35.7% |
| Trade receivables | 40 | €11,360 | €7,463 | -€3,898 | -34.3% |
| Other amounts receivable | 41 | €15,630 | €29,157 | +€13,527 | +86.5% |
| Cash at bank and in hand | 54/58 | €249,020 | €303,798 | +€54,778 | +22.0% |
| Deferred charges and accrued income | 490/1 | €11,684 | €15,429 | +€3,744 | +32.0% |
| Total equity and liabilities | 10/49 | €445,106 | €501,084 | +€55,978 | +12.6% |
| Equity | 10/15 | €331,030 | €345,164 | +€14,134 | +4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €241,893 | €256,027 | +€14,134 | +5.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €235,693 | €249,827 | +€14,134 | +6.0% |
| Profit (loss) carried forward | 14 | €27,137 | €27,137 | = | 0.0% |
| Amounts payable | 17/49 | €114,076 | €155,920 | +€41,844 | +36.7% |
| Amounts payable within one year | 42/48 | €114,076 | €155,920 | +€41,844 | +36.7% |
| Trade debts | 44 | €36,250 | €24,914 | -€11,336 | -31.3% |
| Suppliers | 440/4 | €36,250 | €24,914 | -€11,336 | -31.3% |
| Taxes, remuneration and social security | 45 | €27,507 | €27,274 | -€233 | -0.8% |
| Taxes | 450/3 | €570 | €385 | -€185 | -32.4% |
| Remuneration and social security | 454/9 | €26,937 | €26,889 | -€48 | -0.2% |
| Other amounts payable | 47/48 | €50,319 | €103,732 | +€53,412 | +106% |
| Remuneration, social security and pensions | 62 | €137,219 | €144,767 | +€7,548 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,446 | €26,470 | -€17,976 | -40.4% |
| Other operating charges | 640/8 | €4,082 | €4,206 | +€124 | +3.0% |
| Gross operating margin | 9900 | €249,136 | €299,508 | +€50,372 | +20.2% |
| Operating profit (loss) | 9901 | €63,388 | €124,064 | +€60,676 | +95.7% |
| Financial income | 75/76B | €355 | €76 | -€279 | -78.7% |
| Recurring financial income | 75 | €355 | €76 | -€279 | -78.7% |
| Financial charges | 65/66B | €6,815 | €8,060 | +€1,245 | +18.3% |
| Recurring financial charges | 65 | €6,815 | €8,060 | +€1,245 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €56,928 | €116,079 | +€59,151 | +104% |
| Income taxes | 67/77 | €116 | €1,946 | +€1,830 | +1,580% |
| Profit (loss) for the period | 9904 | €56,812 | €114,134 | +€57,322 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €56,812 | €114,134 | +€57,322 | +101% |
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 14 October 2026 via checked.be.