COPAGRO: 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.
What changed
COPAGRO
NACE 46.442, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€110,258
2024 · -€225,622+€335,880
Equity
€6.3m
2024 · €6.1m+€166,051
Cash
€294,994
2024 · €509,329-€214,335
Balance sheet total
€14.7m
2024 · €14.4m+€361,772
Largest movements
Assets
- Stocks and contracts +€827,484
up €827,484 (+14.4%), from €5.8m to €6.6m
- Tangible fixed assets -€549,097
down €549,097 (-9.7%), from €5.7m to €5.1m
of which Land and buildings: -€461,109
- Cash -€214,335
down €214,335 (-42.1%), from €509,329 to €294,994
mainly Stocks and contracts (-€827,484) and Trade debts (-€409,508)
- Deferred charges and accrued income +€177,033
up €177,033 (+598.7%), from €29,570 to €206,603
- Receivables after one year +€155,991
new in 2025: €155,991
of which Trade receivables: +€99,191
Equity and liabilities
- Other debts +€924,244
up €924,244 (+617.0%), from €149,791 to €1.1m
- Trade debts -€409,508
down €409,508 (-40.1%), from €1.0m to €612,063
- Debts after one year -€296,617
down €296,617 (-36.7%), from €807,404 to €510,787
- Current portion of long-term debt +€218,207
up €218,207 (+51.3%), from €425,345 to €643,552
- Reserves +€188,190
up €188,190 (+22.4%), from €839,734 to €1.0m
of which Distributable reserves: +€188,190
Income statement
- Goods and materials +€1.3m
up €1.3m (+4.1%), from €30.5m to €31.8m
of which Purchases: +€2.8m
- Turnover +€965,590
up €965,590 (+2.6%), from €36.9m to €37.9m
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.
Result 2024
-€225,622
Turnover
+€965,590
Other operating income
-€25,606
Goods and materials
-€1.3m
Services and other goods
+€34,320
Staff costs
+€76,496
Depreciation
+€67,593
Write-downs
+€50,060
Other operating charges
+€90,293
Other operating items
+€76,078
Financial income
+€4,393
Financial charges
+€368,596
Taxes
-€111,127
Result 2025
€110,258
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.
From operations
+€77,472
Investment
-€154,190
Financing
-€137,617
Cash 2024
€509,329
From operations (derived)
+€77,472
Net result for the year
+€110,258
Depreciation
+€713,964
Receivables after one year
-€155,991
Stocks and contracts
-€827,484
Receivables within one year
+€24,627
Deferred charges and accrued income
-€177,033
Provisions
-€62,730
Trade debts
-€409,508
Tax, wage and social debts
-€2,972
Other debts
+€924,244
Accrued charges and deferred income
-€59,903
Investment (derived)
-€154,190
Investment in fixed assets (net)
-€154,190
Financing
-€137,617
Debts after one year
-€296,617
Current portion of long-term debt
+€218,207
Short-term financial debts
-€115,000
Contributions, distributions and other
+€55,793
Cash 2025
€294,994
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,353,873 | €14,715,645 | +€361,772 | +2.5% |
| Fixed assets | 21/28 | €5,986,125 | €5,426,351 | -€559,774 | -9.4% |
| Intangible fixed assets | 21 | €73,222 | €62,545 | -€10,677 | -14.6% |
| Tangible fixed assets | 22/27 | €5,675,453 | €5,126,356 | -€549,097 | -9.7% |
| Land and buildings | 22 | €4,922,951 | €4,461,842 | -€461,109 | -9.4% |
| Plant, machinery and equipment | 23 | €408,410 | €403,899 | -€4,511 | -1.1% |
| Furniture and vehicles | 24 | €344,092 | €214,358 | -€129,734 | -37.7% |
| Other tangible fixed assets | 26 | - | €46,257 | +€46,257 | |
| Financial fixed assets | 28 | €237,450 | €237,450 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €237,145 | €237,145 | = | 0.0% |
| Participating interests | 282 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable | 283 | €57,145 | €57,145 | = | 0.0% |
| Other financial fixed assets | 284/8 | €305 | €305 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €8,367,748 | €9,289,294 | +€921,546 | +11.0% |
| Amounts receivable after more than one year | 29 | - | €155,991 | +€155,991 | |
| Trade receivables | 290 | - | €99,191 | +€99,191 | |
| Other amounts receivable | 291 | - | €56,800 | +€56,800 | |
| Stocks and contracts in progress | 3 | €5,761,430 | €6,588,914 | +€827,484 | +14.4% |
| Stocks | 30/36 | €5,761,430 | €6,588,914 | +€827,484 | +14.4% |
| Goods purchased for resale | 34 | €5,761,430 | €6,588,914 | +€827,484 | +14.4% |
| Amounts receivable within one year | 40/41 | €2,067,419 | €2,042,792 | -€24,627 | -1.2% |
| Trade receivables | 40 | €1,863,652 | €1,993,323 | +€129,671 | +7.0% |
| Other amounts receivable | 41 | €203,767 | €49,469 | -€154,298 | -75.7% |
| Cash at bank and in hand | 54/58 | €509,329 | €294,994 | -€214,335 | -42.1% |
| Deferred charges and accrued income | 490/1 | €29,570 | €206,603 | +€177,033 | +598.7% |
| Total equity and liabilities | 10/49 | €14,353,873 | €14,715,645 | +€361,772 | +2.5% |
| Equity | 10/15 | €6,112,665 | €6,278,716 | +€166,051 | +2.7% |
| Contributions | 10/11 | €3,606,653 | €3,772,703 | +€166,050 | +4.6% |
| Revaluation surpluses | 12 | €1,666,278 | €1,478,089 | -€188,189 | -11.3% |
| Reserves | 13 | €839,734 | €1,027,924 | +€188,190 | +22.4% |
| Non-distributable reserves | 130/1 | €4,710 | €4,710 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,710 | €4,710 | = | 0.0% |
| Distributable reserves | 133 | €835,024 | €1,023,214 | +€188,190 | +22.5% |
| Provisions and deferred taxes | 16 | €555,425 | €492,695 | -€62,730 | -11.3% |
| Deferred taxes | 168 | €555,425 | €492,695 | -€62,730 | -11.3% |
| Amounts payable | 17/49 | €7,685,783 | €7,944,234 | +€258,451 | +3.4% |
| Amounts payable after more than one year | 17 | €807,404 | €510,787 | -€296,617 | -36.7% |
| Financial debts | 170/4 | €807,404 | €510,787 | -€296,617 | -36.7% |
| Credit institutions | 173 | €807,404 | €510,787 | -€296,617 | -36.7% |
| Amounts payable within one year | 42/48 | €6,788,479 | €7,403,450 | +€614,971 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €425,345 | €643,552 | +€218,207 | +51.3% |
| Financial debts | 43 | €4,675,000 | €4,560,000 | -€115,000 | -2.5% |
| Credit institutions | 430/8 | €4,675,000 | €4,560,000 | -€115,000 | -2.5% |
| Trade debts | 44 | €1,021,571 | €612,063 | -€409,508 | -40.1% |
| Suppliers | 440/4 | €1,021,571 | €612,063 | -€409,508 | -40.1% |
| Taxes, remuneration and social security | 45 | €516,772 | €513,800 | -€2,972 | -0.6% |
| Taxes | 450/3 | €122,490 | €86,645 | -€35,845 | -29.3% |
| Remuneration and social security | 454/9 | €394,282 | €427,155 | +€32,873 | +8.3% |
| Other amounts payable | 47/48 | €149,791 | €1,074,035 | +€924,244 | +617.0% |
| Accrued charges and deferred income | 492/3 | €89,900 | €29,997 | -€59,903 | -66.6% |
| Operating income | 70/76A | €38,089,210 | €39,004,457 | +€915,247 | +2.4% |
| Turnover | 70 | €36,915,135 | €37,880,725 | +€965,590 | +2.6% |
| Other operating income | 74 | €1,143,703 | €1,118,097 | -€25,606 | -2.2% |
| Non-recurring operating income | 76A | €30,372 | €5,635 | -€24,737 | -81.4% |
| Operating charges | 60/66A | €37,734,530 | €38,575,759 | +€841,229 | +2.2% |
| Goods for resale, raw materials and consumables | 60 | €30,497,775 | €31,758,581 | +€1.3m | +4.1% |
| Purchases | 600/8 | €29,821,036 | €32,574,019 | +€2.8m | +9.2% |
| Change in stocks: decrease (increase) | 609 | €676,739 | -€815,438 | -€1.5m | |
| Services and other goods | 61 | €2,725,495 | €2,691,175 | -€34,320 | -1.3% |
| Remuneration, social security and pensions | 62 | €3,481,472 | €3,404,976 | -€76,496 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €781,557 | €713,964 | -€67,593 | -8.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,041 | -€53,101 | -€50,060 | -1646.2% |
| Other operating charges | 640/8 | €150,457 | €60,164 | -€90,293 | -60.0% |
| Non-recurring operating charges | 66A | €100,815 | - | -€100,815 | |
| Operating profit (loss) | 9901 | €354,680 | €428,698 | +€74,018 | +20.9% |
| Financial income | 75/76B | €765,672 | €770,065 | +€4,393 | +0.6% |
| Recurring financial income | 75 | €765,672 | €770,065 | +€4,393 | +0.6% |
| Income from financial fixed assets | 750 | €100,080 | €64,000 | -€36,080 | -36.1% |
| Other financial income | 752/9 | €665,592 | €706,065 | +€40,473 | +6.1% |
| Financial charges | 65/66B | €1,345,043 | €976,447 | -€368,596 | -27.4% |
| Recurring financial charges | 65 | €995,923 | €976,447 | -€19,476 | -2.0% |
| Debt charges | 650 | €258,675 | €209,319 | -€49,356 | -19.1% |
| Other financial charges | 652/9 | €737,248 | €767,128 | +€29,880 | +4.1% |
| Non-recurring financial charges | 66B | €349,120 | - | -€349,120 | |
| Profit (loss) for the period before taxes | 9903 | -€224,691 | €222,316 | +€447,007 | |
| Transfer from deferred taxes | 780 | €62,730 | €62,730 | = | 0.0% |
| Income taxes | 67/77 | €63,661 | €174,788 | +€111,127 | +174.6% |
| Taxes | 670/3 | €63,661 | €174,788 | +€111,127 | +174.6% |
| Profit (loss) for the period | 9904 | -€225,622 | €110,258 | +€335,880 | |
| Profit (loss) for the period to be appropriated | 9905 | -€225,622 | €110,258 | +€335,880 |
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 2 October 2026 via checked.be.