COPALCO: 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.
COPALCO
Largest movements
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash +€91,321
up €91,321 (+265.4%), from €34,410 to €125,731
mainly Current investments (+€100,000) and Net result for the year (+€21,460)
- Tangible fixed assets -€4,255
down €4,255 (-2.4%), from €173,684 to €169,429
of which Land and buildings: -€5,106
- Debts after one year -€33,833
down €33,833 (-40.6%), from €83,302 to €49,469
- Reserves +€21,460
up €21,460 (+10.7%), from €200,994 to €222,454
- Gross operating margin +€2,131
up €2,131 (+4.4%), from €48,039 to €50,170
- Financial income +€1,363
new in 2025: €1,363
- Financial charges -€1,171
down €1,171 (-17.0%), from €6,904 to €5,734
- Other operating charges +€978
up €978 (+13.7%), from €7,141 to €8,119
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 | €310,063 | €299,971 | -€10,092 | -3.3% |
| Fixed assets | 21/28 | €173,697 | €169,442 | -€4,255 | -2.4% |
| Tangible fixed assets | 22/27 | €173,684 | €169,429 | -€4,255 | -2.4% |
| Land and buildings | 22 | €173,223 | €168,117 | -€5,106 | -2.9% |
| Furniture and vehicles | 24 | €461 | €1,312 | +€851 | +184.6% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €136,366 | €130,529 | -€5,837 | -4.3% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €34,410 | €125,731 | +€91,321 | +265.4% |
| Deferred charges and accrued income | 490/1 | €1,956 | €4,797 | +€2,841 | +145.3% |
| Total equity and liabilities | 10/49 | €310,063 | €299,971 | -€10,092 | -3.3% |
| Equity | 10/15 | €219,594 | €241,054 | +€21,460 | +9.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €200,994 | €222,454 | +€21,460 | +10.7% |
| Distributable reserves | 133 | €200,994 | €222,454 | +€21,460 | +10.7% |
| Amounts payable | 17/49 | €90,469 | €58,917 | -€31,552 | -34.9% |
| Amounts payable after more than one year | 17 | €83,302 | €49,469 | -€33,833 | -40.6% |
| Other amounts payable | 178/9 | €83,302 | €49,469 | -€33,833 | -40.6% |
| Amounts payable within one year | 42/48 | €7,167 | €7,643 | +€475 | +6.6% |
| Trade debts | 44 | - | €135 | +€135 | |
| Suppliers | 440/4 | - | €135 | +€135 | |
| Taxes, remuneration and social security | 45 | €4,667 | €5,007 | +€340 | +7.3% |
| Taxes | 450/3 | €4,667 | €5,007 | +€340 | +7.3% |
| Other amounts payable | 47/48 | €2,500 | €2,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,805 | +€1,805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,209 | €5,507 | +€298 | +5.7% |
| Other operating charges | 640/8 | €7,141 | €8,119 | +€978 | +13.7% |
| Gross operating margin | 9900 | €48,039 | €50,170 | +€2,131 | +4.4% |
| Operating profit (loss) | 9901 | €35,690 | €36,545 | +€855 | +2.4% |
| Financial income | 75/76B | - | €1,363 | +€1,363 | |
| Recurring financial income | 75 | - | €1,363 | +€1,363 | |
| Financial charges | 65/66B | €6,904 | €5,734 | -€1,171 | -17.0% |
| Recurring financial charges | 65 | €6,904 | €5,734 | -€1,171 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €28,785 | €32,173 | +€3,388 | +11.8% |
| Income taxes | 67/77 | €10,270 | €10,713 | +€444 | +4.3% |
| Profit (loss) for the period | 9904 | €18,516 | €21,460 | +€2,945 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,516 | €21,460 | +€2,945 | +15.9% |
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 5 October 2026 via checked.be.