COPERTIZ: 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.
COPERTIZ
Largest movements
- Stocks and contracts +€2.6m
up €2.6m (+187.1%), from €1.4m to €4.0m
- Current investments -€985,224
down €985,224 (-96.9%), from €1.0m to €31,598
- Tangible fixed assets +€391,905
up €391,905 (+79.3%), from €493,919 to €885,824
of which Plant, machinery and equipment: +€353,016
- Cash -€137,749
down €137,749 (-14.2%), from €967,471 to €829,723
mainly Stocks and contracts (-€2.6m) and Investment in fixed assets (net) (-€539,954)
- Reserves +€1.6m
up €1.6m (+43.0%), from €3.7m to €5.3m
- Short-term financial debts +€400,000
new in 2025: €400,000
- Trade debts +€373,808
up €373,808 (+64.1%), from €583,126 to €956,934
- Tax, wage and social debts -€367,599
down €367,599 (-73.4%), from €500,590 to €132,991
of which Taxes: -€379,907
- Debts after one year -€71,810
down €71,810 (-41.1%), from €174,526 to €102,716
- Gross operating margin +€638,165
up €638,165 (+31.2%), from €2.0m to €2.7m
- Staff costs +€91,911
up €91,911 (+35.4%), from €259,708 to €351,619
- Taxes +€87,410
up €87,410 (+20.1%), from €434,108 to €521,518
- Financial charges +€54,487
up €54,487 (+85.4%), from €63,812 to €118,299
- Financial income -€49,788
down €49,788 (-43.6%), from €114,209 to €64,421
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 | €5,072,477 | €7,029,527 | +€2.0m | +38.6% |
| Fixed assets | 21/28 | €494,155 | €886,061 | +€391,905 | +79.3% |
| Tangible fixed assets | 22/27 | €493,919 | €885,824 | +€391,905 | +79.3% |
| Plant, machinery and equipment | 23 | €117,573 | €470,589 | +€353,016 | +300.3% |
| Furniture and vehicles | 24 | €35,169 | €29,130 | -€6,039 | -17.2% |
| Leasing and similar rights | 25 | €288,573 | €203,242 | -€85,332 | -29.6% |
| Other tangible fixed assets | 26 | €52,603 | €182,863 | +€130,260 | +247.6% |
| Financial fixed assets | 28 | €236 | €236 | = | 0.0% |
| Current assets | 29/58 | €4,578,322 | €6,143,466 | +€1.6m | +34.2% |
| Stocks and contracts in progress | 3 | €1,403,903 | €4,029,934 | +€2.6m | +187.1% |
| Stocks | 30/36 | €1,403,903 | €4,029,934 | +€2.6m | +187.1% |
| Amounts receivable within one year | 40/41 | €1,186,232 | €1,246,286 | +€60,054 | +5.1% |
| Trade receivables | 40 | €978,601 | €1,046,995 | +€68,395 | +7.0% |
| Other amounts receivable | 41 | €207,631 | €199,290 | -€8,341 | -4.0% |
| Current investments | 50/53 | €1,016,822 | €31,598 | -€985,224 | -96.9% |
| Cash at bank and in hand | 54/58 | €967,471 | €829,723 | -€137,749 | -14.2% |
| Deferred charges and accrued income | 490/1 | €3,894 | €5,926 | +€2,032 | +52.2% |
| Total equity and liabilities | 10/49 | €5,072,477 | €7,029,527 | +€2.0m | +38.6% |
| Equity | 10/15 | €3,730,999 | €5,328,393 | +€1.6m | +42.8% |
| Contributions | 10/11 | €12,428 | €12,428 | = | 0.0% |
| Reserves | 13 | €3,718,570 | €5,315,964 | +€1.6m | +43.0% |
| Distributable reserves | 133 | €3,718,570 | €5,315,964 | +€1.6m | +43.0% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,326,478 | €1,686,134 | +€359,656 | +27.1% |
| Amounts payable after more than one year | 17 | €174,526 | €102,716 | -€71,810 | -41.1% |
| Financial debts | 170/4 | €174,526 | €102,716 | -€71,810 | -41.1% |
| Amounts payable within one year | 42/48 | €1,149,597 | €1,558,316 | +€408,719 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €65,881 | €68,353 | +€2,471 | +3.8% |
| Financial debts | 43 | - | €400,000 | +€400,000 | |
| Credit institutions | 430/8 | - | €400,000 | +€400,000 | |
| Trade debts | 44 | €583,126 | €956,934 | +€373,808 | +64.1% |
| Suppliers | 440/4 | €583,126 | €956,934 | +€373,808 | +64.1% |
| Taxes, remuneration and social security | 45 | €500,590 | €132,991 | -€367,599 | -73.4% |
| Taxes | 450/3 | €475,720 | €95,813 | -€379,907 | -79.9% |
| Remuneration and social security | 454/9 | €24,871 | €37,179 | +€12,308 | +49.5% |
| Other amounts payable | 47/48 | - | €38 | +€38 | |
| Accrued charges and deferred income | 492/3 | €2,355 | €25,102 | +€22,747 | +966.0% |
| Non-recurring operating income | 76A | €7,000 | €21,848 | +€14,848 | +212.1% |
| Remuneration, social security and pensions | 62 | €259,708 | €351,619 | +€91,911 | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,711 | €148,048 | +€42,338 | +40.1% |
| Other operating charges | 640/8 | €27,629 | €13,451 | -€14,178 | -51.3% |
| Non-recurring operating charges | 66A | - | €150 | +€150 | |
| Gross operating margin | 9900 | €2,047,894 | €2,686,059 | +€638,165 | +31.2% |
| Operating profit (loss) | 9901 | €1,654,846 | €2,172,790 | +€517,944 | +31.3% |
| Financial income | 75/76B | €114,209 | €64,421 | -€49,788 | -43.6% |
| Recurring financial income | 75 | €114,209 | €64,421 | -€49,788 | -43.6% |
| Financial charges | 65/66B | €63,812 | €118,299 | +€54,487 | +85.4% |
| Recurring financial charges | 65 | €63,812 | €118,299 | +€54,487 | +85.4% |
| Profit (loss) for the period before taxes | 9903 | €1,705,243 | €2,118,912 | +€413,669 | +24.3% |
| Income taxes | 67/77 | €434,108 | €521,518 | +€87,410 | +20.1% |
| Profit (loss) for the period | 9904 | €1,271,135 | €1,597,394 | +€326,259 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,271,135 | €1,597,394 | +€326,259 | +25.7% |
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 3 October 2026 via checked.be.