COPEM GROUP: 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.
COPEM GROUP
Largest movements
- Receivables within one year -€1.3m
down €1.3m (-54.4%), from €2.4m to €1.1m
of which Trade receivables: -€1.3m
- Stocks and contracts -€853,755
down €853,755 (-85.1%), from €1.0m to €149,229
- Cash +€415,288
up €415,288 (+54.5%), from €762,014 to €1.2m
mainly Receivables within one year (+€1.3m) and Stocks and contracts (+€853,755)
- Trade debts -€1.6m
down €1.6m (-54.7%), from €2.8m to €1.3m
- Reserves -€156,840
down €156,840 (-57.6%), from €272,488 to €115,649
- Taxes -€5,089
down €5,089 (-30.8%), from €16,512 to €11,423
- Financial charges -€3,379
down €3,379 (-4.5%), from €74,903 to €71,524
- Gross operating margin +€1,547
up €1,547 (+2.1%), from -€73,935 to -€72,388
- Other operating charges -€903
down €903 (-39.5%), from €2,285 to €1,381
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 | €4,136,049 | €2,411,007 | -€1.7m | -41.7% |
| Fixed assets | 21/28 | €4,000 | €4,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €4,132,049 | €2,407,007 | -€1.7m | -41.7% |
| Stocks and contracts in progress | 3 | €1,002,984 | €149,229 | -€853,755 | -85.1% |
| Stocks | 30/36 | €1,002,984 | €149,229 | -€853,755 | -85.1% |
| Amounts receivable within one year | 40/41 | €2,365,243 | €1,079,252 | -€1.3m | -54.4% |
| Trade receivables | 40 | €2,360,494 | €1,075,753 | -€1.3m | -54.4% |
| Other amounts receivable | 41 | €4,749 | €3,499 | -€1,250 | -26.3% |
| Cash at bank and in hand | 54/58 | €762,014 | €1,177,302 | +€415,288 | +54.5% |
| Deferred charges and accrued income | 490/1 | €1,808 | €1,223 | -€585 | -32.3% |
| Total equity and liabilities | 10/49 | €4,136,049 | €2,411,007 | -€1.7m | -41.7% |
| Equity | 10/15 | €291,088 | €134,249 | -€156,840 | -53.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €272,488 | €115,649 | -€156,840 | -57.6% |
| Distributable reserves | 133 | €272,488 | €115,649 | -€156,840 | -57.6% |
| Amounts payable | 17/49 | €3,844,960 | €2,276,758 | -€1.6m | -40.8% |
| Amounts payable within one year | 42/48 | €3,844,786 | €2,276,758 | -€1.6m | -40.8% |
| Trade debts | 44 | €2,840,364 | €1,286,452 | -€1.6m | -54.7% |
| Suppliers | 440/4 | €2,840,364 | €1,286,452 | -€1.6m | -54.7% |
| Taxes, remuneration and social security | 45 | €20,265 | €6,149 | -€14,116 | -69.7% |
| Taxes | 450/3 | €20,265 | €6,149 | -€14,116 | -69.7% |
| Other amounts payable | 47/48 | €984,157 | €984,157 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €174 | - | -€174 | |
| Remuneration, social security and pensions | 62 | - | €408 | +€408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €299 | - | -€299 | |
| Other operating charges | 640/8 | €2,285 | €1,381 | -€903 | -39.5% |
| Gross operating margin | 9900 | -€73,935 | -€72,388 | +€1,547 | +2.1% |
| Operating profit (loss) | 9901 | -€76,518 | -€74,178 | +€2,341 | +3.1% |
| Financial income | 75/76B | €103 | €285 | +€182 | +176.7% |
| Recurring financial income | 75 | €103 | €285 | +€182 | +176.7% |
| Financial charges | 65/66B | €74,903 | €71,524 | -€3,379 | -4.5% |
| Recurring financial charges | 65 | €74,903 | €71,524 | -€3,379 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€151,318 | -€145,417 | +€5,901 | +3.9% |
| Income taxes | 67/77 | €16,512 | €11,423 | -€5,089 | -30.8% |
| Profit (loss) for the period | 9904 | -€167,830 | -€156,840 | +€10,990 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€167,830 | -€156,840 | +€10,990 | +6.5% |
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.