Copandi VLB: 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.
Copandi VLB
Largest movements
- Cash -€36,547
down €36,547 (-83.2%), from €43,939 to €7,392
mainly Receivables within one year (-€31,929) and Investment in fixed assets (net) (-€26,675)
- Receivables within one year +€31,929
up €31,929 (+121.7%), from €26,243 to €58,173
of which Trade receivables: +€42,088
- Tangible fixed assets +€22,267
up €22,267 (+91.1%), from €24,439 to €46,706
of which Plant, machinery and equipment: +€24,727
- Deferred charges and accrued income +€4,541
up €4,541 (+2241.5%), from €203 to €4,744
- Other debts -€20,000
down €20,000 (-40.0%), from €50,000 to €30,000
- Debts after one year +€17,001
new in 2025: €17,001
- Reserves +€14,183
up €14,183 (+52.0%), from €27,290 to €41,473
- Trade debts +€9,132
up €9,132 (+552.7%), from €1,652 to €10,785
- Current portion of long-term debt +€4,718
new in 2025: €4,718
- Turnover +€191,307
up €191,307 (+70.7%), from €270,700 to €462,007
- Purchases and services +€155,554
up €155,554 (+66.7%), from €233,157 to €388,710
- Staff costs +€50,956
new in 2025: €50,956
- Gross operating margin +€36,974
up €36,974 (+98.5%), from €37,543 to €74,518
- Taxes -€4,725
down €4,725 (-72.8%), from €6,493 to €1,768
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 | €94,824 | €117,014 | +€22,190 | +23.4% |
| Fixed assets | 21/28 | €24,439 | €46,706 | +€22,267 | +91.1% |
| Tangible fixed assets | 22/27 | €24,439 | €46,706 | +€22,267 | +91.1% |
| Plant, machinery and equipment | 23 | €1,702 | €26,430 | +€24,727 | +1452.7% |
| Other tangible fixed assets | 26 | €22,737 | €20,276 | -€2,461 | -10.8% |
| Current assets | 29/58 | €70,385 | €70,309 | -€77 | -0.1% |
| Amounts receivable within one year | 40/41 | €26,243 | €58,173 | +€31,929 | +121.7% |
| Trade receivables | 40 | €1,210 | €43,298 | +€42,088 | +3478.3% |
| Other amounts receivable | 41 | €25,033 | €14,875 | -€10,159 | -40.6% |
| Cash at bank and in hand | 54/58 | €43,939 | €7,392 | -€36,547 | -83.2% |
| Deferred charges and accrued income | 490/1 | €203 | €4,744 | +€4,541 | +2241.5% |
| Total equity and liabilities | 10/49 | €94,824 | €117,014 | +€22,190 | +23.4% |
| Equity | 10/15 | €32,290 | €46,473 | +€14,183 | +43.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,290 | €41,473 | +€14,183 | +52.0% |
| Distributable reserves | 133 | €27,290 | €41,473 | +€14,183 | +52.0% |
| Amounts payable | 17/49 | €62,535 | €70,541 | +€8,007 | +12.8% |
| Amounts payable after more than one year | 17 | - | €17,001 | +€17,001 | |
| Financial debts | 170/4 | - | €17,001 | +€17,001 | |
| Amounts payable within one year | 42/48 | €62,535 | €53,540 | -€8,995 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,718 | +€4,718 | |
| Trade debts | 44 | €1,652 | €10,785 | +€9,132 | +552.7% |
| Suppliers | 440/4 | €1,652 | €10,785 | +€9,132 | +552.7% |
| Taxes, remuneration and social security | 45 | €10,882 | €8,038 | -€2,845 | -26.1% |
| Taxes | 450/3 | €10,882 | €1,768 | -€9,114 | -83.8% |
| Remuneration and social security | 454/9 | - | €6,270 | +€6,270 | |
| Other amounts payable | 47/48 | €50,000 | €30,000 | -€20,000 | -40.0% |
| Turnover | 70 | €270,700 | €462,007 | +€191,307 | +70.7% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €233,157 | €388,710 | +€155,554 | +66.7% |
| Remuneration, social security and pensions | 62 | - | €50,956 | +€50,956 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,247 | €4,408 | +€2,161 | +96.2% |
| Other operating charges | 640/8 | €1,482 | €1,452 | -€30 | -2.0% |
| Gross operating margin | 9900 | €37,543 | €74,518 | +€36,974 | +98.5% |
| Operating profit (loss) | 9901 | €33,814 | €17,701 | -€16,113 | -47.7% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €33 | €1,750 | +€1,717 | +5170.1% |
| Recurring financial charges | 65 | €33 | €1,750 | +€1,717 | +5170.1% |
| Profit (loss) for the period before taxes | 9903 | €33,783 | €15,951 | -€17,831 | -52.8% |
| Income taxes | 67/77 | €6,493 | €1,768 | -€4,725 | -72.8% |
| Profit (loss) for the period | 9904 | €27,290 | €14,183 | -€13,106 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,290 | €14,183 | -€13,106 | -48.0% |
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 11 October 2026 via checked.be.