COPERFIN: 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.
What changed
COPERFIN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€97,655
2024 · €29,530+€68,125
Equity
€1.4m
2024 · €1.3m+€97,655
Cash
€101,744
2024 · €116,436-€14,692
Balance sheet total
€2.5m
2024 · €2.5m+€17,869
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€100,979
up €100,979 (+9.2%), from €1.1m to €1.2m
of which Distributable reserves: +€128,000
- Debts after one year -€75,000
no longer reported in 2025 (was €75,000)
Income statement
- Gross operating margin +€41,573
up €41,573 (+6.5%), from €637,870 to €679,443
- Staff costs -€22,830
down €22,830 (-5.8%), from €396,464 to €373,634
- Taxes +€8,615
up €8,615 (+43.0%), from €20,050 to €28,665
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
€29,530
Gross operating margin
+€41,573
Staff costs
+€22,830
Depreciation
+€5,612
Other operating charges
+€5,110
Financial income
+€314
Financial charges
+€1,301
Taxes
-€8,615
Result 2025
€97,655
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
+€204,463
Investment
-€144,155
Financing
-€75,000
Cash 2024
€116,436
From operations (derived)
+€204,463
Net result for the year
+€97,655
Depreciation
+€121,086
Receivables within one year
-€4,563
Deferred charges and accrued income
-€4,929
Trade debts
-€13,087
Tax, wage and social debts
+€12,360
Other debts
-€4,059
Investment (derived)
-€144,155
Investment in fixed assets (net)
-€144,155
Financing
-€75,000
Debts after one year
-€75,000
Cash 2025
€101,744
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,472,614 | €2,490,483 | +€17,869 | +0.7% |
| Fixed assets | 21/28 | €2,000,155 | €2,023,224 | +€23,069 | +1.2% |
| Tangible fixed assets | 22/27 | €2,000,155 | €2,023,224 | +€23,069 | +1.2% |
| Land and buildings | 22 | €1,993,697 | €1,978,270 | -€15,427 | -0.8% |
| Plant, machinery and equipment | 23 | - | €873 | +€873 | |
| Furniture and vehicles | 24 | €6,458 | €44,081 | +€37,623 | +582.6% |
| Current assets | 29/58 | €472,459 | €467,259 | -€5,200 | -1.1% |
| Amounts receivable within one year | 40/41 | €106,023 | €110,586 | +€4,563 | +4.3% |
| Trade receivables | 40 | €99,510 | €101,073 | +€1,563 | +1.6% |
| Other amounts receivable | 41 | €6,513 | €9,513 | +€3,000 | +46.1% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €116,436 | €101,744 | -€14,692 | -12.6% |
| Deferred charges and accrued income | 490/1 | - | €4,929 | +€4,929 | |
| Total equity and liabilities | 10/49 | €2,472,614 | €2,490,483 | +€17,869 | +0.7% |
| Equity | 10/15 | €1,277,652 | €1,375,307 | +€97,655 | +7.6% |
| Contributions | 10/11 | €174,500 | €174,500 | = | 0.0% |
| Capital | 10 | €174,500 | €174,500 | = | 0.0% |
| Issued capital | 100 | €174,500 | €174,500 | = | 0.0% |
| Reserves | 13 | €1,099,769 | €1,200,748 | +€100,979 | +9.2% |
| Non-distributable reserves | 130/1 | €18,614 | €18,614 | = | 0.0% |
| Legal reserve | 130 | €17,450 | €17,450 | = | 0.0% |
| Other | 1319 | €1,164 | €1,164 | = | 0.0% |
| Tax-exempt reserves | 132 | €521,276 | €494,255 | -€27,021 | -5.2% |
| Distributable reserves | 133 | €559,879 | €687,879 | +€128,000 | +22.9% |
| Profit (loss) carried forward | 14 | €3,383 | €59 | -€3,324 | -98.3% |
| Amounts payable | 17/49 | €1,194,962 | €1,115,176 | -€79,786 | -6.7% |
| Amounts payable after more than one year | 17 | €75,000 | - | -€75,000 | |
| Financial debts | 170/4 | €75,000 | - | -€75,000 | |
| Amounts payable within one year | 42/48 | €1,119,962 | €1,115,176 | -€4,786 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €62,500 | €62,500 | = | 0.0% |
| Trade debts | 44 | €35,897 | €22,810 | -€13,087 | -36.5% |
| Suppliers | 440/4 | €35,897 | €22,810 | -€13,087 | -36.5% |
| Taxes, remuneration and social security | 45 | €69,288 | €81,648 | +€12,360 | +17.8% |
| Taxes | 450/3 | €42,556 | €48,596 | +€6,040 | +14.2% |
| Remuneration and social security | 454/9 | €26,732 | €33,052 | +€6,320 | +23.6% |
| Other amounts payable | 47/48 | €952,277 | €948,218 | -€4,059 | -0.4% |
| Remuneration, social security and pensions | 62 | €396,464 | €373,634 | -€22,830 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,698 | €121,086 | -€5,612 | -4.4% |
| Other operating charges | 640/8 | €14,869 | €9,759 | -€5,110 | -34.4% |
| Gross operating margin | 9900 | €637,870 | €679,443 | +€41,573 | +6.5% |
| Operating profit (loss) | 9901 | €99,839 | €174,964 | +€75,125 | +75.2% |
| Financial income | 75/76B | €5,236 | €5,550 | +€314 | +6.0% |
| Recurring financial income | 75 | €5,236 | €5,550 | +€314 | +6.0% |
| Financial charges | 65/66B | €55,495 | €54,194 | -€1,301 | -2.3% |
| Recurring financial charges | 65 | €55,495 | €54,194 | -€1,301 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €49,580 | €126,320 | +€76,740 | +154.8% |
| Income taxes | 67/77 | €20,050 | €28,665 | +€8,615 | +43.0% |
| Profit (loss) for the period | 9904 | €29,530 | €97,655 | +€68,125 | +230.7% |
| Transfer from tax-exempt reserves | 789 | €43,703 | €27,021 | -€16,682 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €73,233 | €124,676 | +€51,443 | +70.2% |
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 29 September 2026 via checked.be.