COPAWIN: 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.
What changed
COPAWIN
NACE 70.100, Activities of head offices
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€581,413
2024 · -€632,113+€50,700
Equity
€45.6m
2024 · €46.2m-€581,413
Cash
€56,138
2024 · €32,910+€23,228
Balance sheet total
€51.7m
2024 · €52.0m-€382,581
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€581,413
down €581,413 (-32.4%), from €1.8m to €1.2m
Income statement
No income-statement line moved by more than 1% of the activity.
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
-€632,113
Staff costs
+€212
Depreciation
+€72,661
Other operating charges
+€347
Other operating items
+€16,755
Financial income
-€0
Financial charges
-€158,453
Taxes
+€119,178
Result 2025
-€581,413
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
+€76,468
Investment
-€53,240
Financing
€0
Cash 2024
€32,910
From operations (derived)
+€76,468
Net result for the year
-€581,413
Depreciation
+€257,814
Receivables within one year
+€205,400
Deferred charges and accrued income
-€4,165
Trade debts
+€91,879
Tax, wage and social debts
-€23,628
Other debts
+€130,581
Investment (derived)
-€53,240
Investment in fixed assets (net)
-€53,240
Cash 2025
€56,138
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,048,682 | €51,666,101 | -€382,581 | -0.7% |
| Formation expenses | 20 | €256,039 | €0 | -€256,039 | -100.0% |
| Fixed assets | 21/28 | €51,500,003 | €51,551,469 | +€51,465 | +0.1% |
| Intangible fixed assets | 21 | €3 | €51,469 | +€51,465 | +1504834.5% |
| Financial fixed assets | 28 | €51,500,000 | €51,500,000 | = | 0.0% |
| Affiliated companies | 280/1 | €51,500,000 | €51,500,000 | = | 0.0% |
| Participating interests | 280 | €51,500,000 | €51,500,000 | = | 0.0% |
| Current assets | 29/58 | €292,639 | €114,632 | -€178,007 | -60.8% |
| Amounts receivable within one year | 40/41 | €239,298 | €33,897 | -€205,400 | -85.8% |
| Trade receivables | 40 | €239,140 | €32,019 | -€207,122 | -86.6% |
| Other amounts receivable | 41 | €157 | €1,879 | +€1,722 | +1093.8% |
| Cash at bank and in hand | 54/58 | €32,910 | €56,138 | +€23,228 | +70.6% |
| Deferred charges and accrued income | 490/1 | €20,431 | €24,596 | +€4,165 | +20.4% |
| Total equity and liabilities | 10/49 | €52,048,682 | €51,666,101 | -€382,581 | -0.7% |
| Equity | 10/15 | €46,166,453 | €45,585,040 | -€581,413 | -1.3% |
| Contributions | 10/11 | €44,200,000 | €44,200,000 | = | 0.0% |
| Capital | 10 | €44,200,000 | €44,200,000 | = | 0.0% |
| Issued capital | 100 | €44,200,000 | €44,200,000 | = | 0.0% |
| Reserves | 13 | €170,188 | €170,188 | = | 0.0% |
| Non-distributable reserves | 130/1 | €170,188 | €170,188 | = | 0.0% |
| Legal reserve | 130 | €170,188 | €170,188 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,796,265 | €1,214,852 | -€581,413 | -32.4% |
| Amounts payable | 17/49 | €5,882,229 | €6,081,061 | +€198,832 | +3.4% |
| Amounts payable after more than one year | 17 | €4,900,000 | €4,900,000 | = | 0.0% |
| Financial debts | 170/4 | €4,900,000 | €4,900,000 | = | 0.0% |
| Subordinated loans | 170 | €4,900,000 | €4,900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €982,229 | €1,181,061 | +€198,832 | +20.2% |
| Trade debts | 44 | €154,666 | €246,546 | +€91,879 | +59.4% |
| Suppliers | 440/4 | €154,666 | €246,546 | +€91,879 | +59.4% |
| Taxes, remuneration and social security | 45 | €23,628 | - | -€23,628 | |
| Taxes | 450/3 | €10,970 | - | -€10,970 | |
| Remuneration and social security | 454/9 | €12,658 | - | -€12,658 | |
| Other amounts payable | 47/48 | €803,934 | €934,515 | +€130,581 | +16.2% |
| Operating income | 70/76A | €927,713 | €836,609 | -€91,104 | -9.8% |
| Other operating income | 74 | €814,954 | €836,609 | +€21,655 | +2.7% |
| Non-recurring operating income | 76A | €112,759 | - | -€112,759 | |
| Operating charges | 60/66A | €1,130,578 | €949,498 | -€181,080 | -16.0% |
| Services and other goods | 61 | €474,323 | €518,415 | +€44,092 | +9.3% |
| Remuneration, social security and pensions | 62 | €5,627 | €5,415 | -€212 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,475 | €257,814 | -€72,661 | -22.0% |
| Other operating charges | 640/8 | €417 | €70 | -€347 | -83.2% |
| Non-recurring operating charges | 66A | €319,735 | €167,784 | -€151,951 | -47.5% |
| Operating profit (loss) | 9901 | -€202,865 | -€112,889 | +€89,976 | +44.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €429,249 | €587,702 | +€158,453 | +36.9% |
| Recurring financial charges | 65 | €429,249 | €587,702 | +€158,453 | +36.9% |
| Debt charges | 650 | €426,561 | €585,747 | +€159,186 | +37.3% |
| Other financial charges | 652/9 | €2,688 | €1,955 | -€733 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | -€632,113 | -€700,591 | -€68,478 | -10.8% |
| Income taxes | 67/77 | - | -€119,178 | -€119,178 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €119,178 | +€119,178 | |
| Profit (loss) for the period | 9904 | -€632,113 | -€581,413 | +€50,700 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€632,113 | -€581,413 | +€50,700 | +8.0% |
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 10 October 2026 via checked.be.