Copenco: 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.
Copenco
Largest movements
- Receivables within one year +€14,792
up €14,792 (+314.8%), from €4,698 to €19,491
of which Trade receivables: +€14,997
- Deferred charges and accrued income -€9,857
no longer reported in 2025 (was €9,857)
- Tangible fixed assets -€9,666
down €9,666 (-28.7%), from €33,713 to €24,047
- Cash +€4,380
up €4,380 (+5.2%), from €84,501 to €88,881
mainly Net result for the year (+€15,729) and Deferred charges and accrued income (+€9,857)
- Other debts +€7,311
up €7,311 (+52.0%), from €14,064 to €21,374
- Reserves -€5,646
down €5,646 (-5.3%), from €106,402 to €100,756
of which Distributable reserves: -€5,646
- Tax, wage and social debts -€2,791
down €2,791 (-76.7%), from €3,638 to €848
- Gross operating margin -€2,773
down €2,773 (-7.3%), from €38,085 to €35,312
- Taxes -€897
down €897 (-9.5%), from €9,445 to €8,548
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 | €132,809 | €132,419 | -€390 | -0.3% |
| Fixed assets | 21/28 | €33,753 | €24,047 | -€9,706 | -28.8% |
| Tangible fixed assets | 22/27 | €33,713 | €24,047 | -€9,666 | -28.7% |
| Furniture and vehicles | 24 | €33,713 | €24,047 | -€9,666 | -28.7% |
| Financial fixed assets | 28 | €40 | - | -€40 | |
| Current assets | 29/58 | €99,056 | €108,372 | +€9,316 | +9.4% |
| Amounts receivable within one year | 40/41 | €4,698 | €19,491 | +€14,792 | +314.8% |
| Trade receivables | 40 | €4,271 | €19,267 | +€14,997 | +351.1% |
| Other amounts receivable | 41 | €427 | €223 | -€204 | -47.8% |
| Cash at bank and in hand | 54/58 | €84,501 | €88,881 | +€4,380 | +5.2% |
| Deferred charges and accrued income | 490/1 | €9,857 | - | -€9,857 | |
| Total equity and liabilities | 10/49 | €132,809 | €132,419 | -€390 | -0.3% |
| Equity | 10/15 | €112,602 | €106,956 | -€5,646 | -5.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €106,402 | €100,756 | -€5,646 | -5.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €104,542 | €98,896 | -€5,646 | -5.4% |
| Amounts payable | 17/49 | €20,207 | €25,462 | +€5,255 | +26.0% |
| Amounts payable within one year | 42/48 | €20,207 | €25,462 | +€5,255 | +26.0% |
| Trade debts | 44 | €2,505 | €3,240 | +€735 | +29.3% |
| Suppliers | 440/4 | €2,505 | €3,240 | +€735 | +29.3% |
| Taxes, remuneration and social security | 45 | €3,638 | €848 | -€2,791 | -76.7% |
| Taxes | 450/3 | €3,638 | €848 | -€2,791 | -76.7% |
| Other amounts payable | 47/48 | €14,064 | €21,374 | +€7,311 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,666 | €9,666 | = | 0.0% |
| Other operating charges | 640/8 | €1,471 | €1,495 | +€24 | +1.6% |
| Gross operating margin | 9900 | €38,085 | €35,312 | -€2,773 | -7.3% |
| Operating profit (loss) | 9901 | €26,947 | €24,150 | -€2,797 | -10.4% |
| Financial income | 75/76B | €237 | €471 | +€234 | +98.6% |
| Recurring financial income | 75 | €237 | €471 | +€234 | +98.6% |
| Financial charges | 65/66B | €348 | €345 | -€3 | -0.9% |
| Recurring financial charges | 65 | €348 | €345 | -€3 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €26,837 | €24,276 | -€2,560 | -9.5% |
| Income taxes | 67/77 | €9,445 | €8,548 | -€897 | -9.5% |
| Profit (loss) for the period | 9904 | €17,392 | €15,729 | -€1,663 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,392 | €15,729 | -€1,663 | -9.6% |
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.