COPEB: 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.
COPEB
Largest movements
- Cash +€25,658
up €25,658 (+65.2%), from €39,360 to €65,018
mainly Net result for the year (+€50,861) and Tax, wage and social debts (+€2,817)
- Receivables within one year +€9,747
up €9,747 (+10.5%), from €92,459 to €102,206
of which Trade receivables: +€10,747
- Tangible fixed assets +€7,825
up €7,825 (+80.5%), from €9,720 to €17,545
of which Other tangible fixed assets: +€7,166
- Reserves +€50,028
up €50,028 (+94.8%), from €52,753 to €102,781
- Accrued charges and deferred income -€9,098
down €9,098 (-93.1%), from €9,769 to €671
- Tax, wage and social debts +€2,817
up €2,817 (+10.0%), from €28,303 to €31,120
of which Taxes: +€14,661
- Gross operating margin +€51,216
up €51,216 (+189.0%), from €27,104 to €78,319
- Staff costs -€20,568
down €20,568 (-57.0%), from €36,065 to €15,498
- Taxes +€8,974
up €8,974 (+6431.8%), from €140 to €9,113
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 | €144,093 | €187,468 | +€43,375 | +30.1% |
| Fixed assets | 21/28 | €9,920 | €17,745 | +€7,825 | +78.9% |
| Tangible fixed assets | 22/27 | €9,720 | €17,545 | +€7,825 | +80.5% |
| Plant, machinery and equipment | 23 | €4,947 | €4,331 | -€616 | -12.5% |
| Furniture and vehicles | 24 | - | €1,276 | +€1,276 | |
| Other tangible fixed assets | 26 | €4,773 | €11,938 | +€7,166 | +150.1% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €134,173 | €169,723 | +€35,550 | +26.5% |
| Amounts receivable within one year | 40/41 | €92,459 | €102,206 | +€9,747 | +10.5% |
| Trade receivables | 40 | €91,459 | €102,206 | +€10,747 | +11.8% |
| Other amounts receivable | 41 | €1,000 | €0 | -€1,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €39,360 | €65,018 | +€25,658 | +65.2% |
| Deferred charges and accrued income | 490/1 | €2,354 | €2,499 | +€145 | +6.2% |
| Total equity and liabilities | 10/49 | €144,093 | €187,468 | +€43,375 | +30.1% |
| Equity | 10/15 | €65,153 | €115,181 | +€50,028 | +76.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €52,753 | €102,781 | +€50,028 | +94.8% |
| Distributable reserves | 133 | €52,753 | €102,781 | +€50,028 | +94.8% |
| Amounts payable | 17/49 | €78,940 | €72,287 | -€6,653 | -8.4% |
| Amounts payable within one year | 42/48 | €69,170 | €71,616 | +€2,446 | +3.5% |
| Financial debts | 43 | €39 | €462 | +€423 | +1091.6% |
| Credit institutions | 430/8 | €39 | €462 | +€423 | +1091.6% |
| Trade debts | 44 | €26,068 | €25,951 | -€118 | -0.5% |
| Suppliers | 440/4 | €26,068 | €25,951 | -€118 | -0.5% |
| Taxes, remuneration and social security | 45 | €28,303 | €31,120 | +€2,817 | +10.0% |
| Taxes | 450/3 | €6,224 | €20,886 | +€14,661 | +235.5% |
| Remuneration and social security | 454/9 | €22,079 | €10,235 | -€11,844 | -53.6% |
| Other amounts payable | 47/48 | €14,760 | €14,083 | -€677 | -4.6% |
| Accrued charges and deferred income | 492/3 | €9,769 | €671 | -€9,098 | -93.1% |
| Remuneration, social security and pensions | 62 | €36,065 | €15,498 | -€20,568 | -57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,071 | €1,750 | +€679 | +63.4% |
| Other operating charges | 640/8 | €1,238 | €922 | -€316 | -25.5% |
| Gross operating margin | 9900 | €27,104 | €78,319 | +€51,216 | +189.0% |
| Operating profit (loss) | 9901 | -€11,271 | €60,149 | +€71,420 | |
| Financial income | 75/76B | €20 | €19 | -€1 | -6.2% |
| Recurring financial income | 75 | €20 | €19 | -€1 | -6.2% |
| Financial charges | 65/66B | €191 | €194 | +€3 | +1.7% |
| Recurring financial charges | 65 | €191 | €194 | +€3 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,441 | €59,974 | +€71,416 | |
| Income taxes | 67/77 | €140 | €9,113 | +€8,974 | +6431.8% |
| Profit (loss) for the period | 9904 | -€11,581 | €50,861 | +€62,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,581 | €50,861 | +€62,442 |
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 7 October 2026 via checked.be.