COPEVA: 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.
COPEVA
Largest movements
- Tangible fixed assets +€205,729
up €205,729 (+5.2%), from €3.9m to €4.1m
of which Land and buildings: +€220,675
- Debts after one year +€145,358
up €145,358 (+4.3%), from €3.4m to €3.6m
- Reserves -€76,145
down €76,145 (-26.2%), from €291,078 to €214,933
- Profit (loss) carried forward +€70,226
no longer reported in 2025 (was -€70,226)
- Other operating charges -€100,952
down €100,952 (-56.8%), from €177,850 to €76,898
- Financial charges +€43,078
up €43,078 (+56.0%), from €76,963 to €120,042
- Gross operating margin +€28,233
up €28,233 (+8.0%), from €354,235 to €382,468
- Depreciation +€21,800
up €21,800 (+12.9%), from €169,647 to €191,448
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.
Derived cash bridge
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 | €4,007,582 | €4,196,294 | +€188,712 | +4.7% |
| Fixed assets | 21/28 | €3,934,834 | €4,140,563 | +€205,729 | +5.2% |
| Tangible fixed assets | 22/27 | €3,934,834 | €4,140,563 | +€205,729 | +5.2% |
| Land and buildings | 22 | €3,810,948 | €4,031,623 | +€220,675 | +5.8% |
| Plant, machinery and equipment | 23 | €123,886 | €108,940 | -€14,946 | -12.1% |
| Current assets | 29/58 | €72,748 | €55,731 | -€17,017 | -23.4% |
| Amounts receivable within one year | 40/41 | €12,816 | €34,752 | +€21,936 | +171% |
| Trade receivables | 40 | €8,990 | €34,752 | +€25,763 | +287% |
| Other amounts receivable | 41 | €3,827 | - | -€3,827 | |
| Cash at bank and in hand | 54/58 | €59,931 | €20,807 | -€39,124 | -65.3% |
| Deferred charges and accrued income | 490/1 | - | €172 | +€172 | |
| Total equity and liabilities | 10/49 | €4,007,582 | €4,196,294 | +€188,712 | +4.7% |
| Equity | 10/15 | €231,921 | €226,002 | -€5,919 | -2.6% |
| Contributions | 10/11 | €11,069 | €11,069 | = | 0.0% |
| Reserves | 13 | €291,078 | €214,933 | -€76,145 | -26.2% |
| Distributable reserves | 133 | €291,078 | €214,933 | -€76,145 | -26.2% |
| Profit (loss) carried forward | 14 | -€70,226 | - | +€70,226 | |
| Amounts payable | 17/49 | €3,775,661 | €3,970,292 | +€194,631 | +5.2% |
| Amounts payable after more than one year | 17 | €3,419,273 | €3,564,632 | +€145,358 | +4.3% |
| Financial debts | 170/4 | €3,419,273 | €3,564,632 | +€145,358 | +4.3% |
| Amounts payable within one year | 42/48 | €356,387 | €405,660 | +€49,273 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €204,750 | €230,940 | +€26,190 | +12.8% |
| Trade debts | 44 | €7,342 | €3,663 | -€3,679 | -50.1% |
| Suppliers | 440/4 | €7,342 | €3,663 | -€3,679 | -50.1% |
| Taxes, remuneration and social security | 45 | €7,151 | €12,873 | +€5,722 | +80.0% |
| Taxes | 450/3 | €7,151 | €12,873 | +€5,722 | +80.0% |
| Other amounts payable | 47/48 | €137,144 | €158,184 | +€21,040 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,647 | €191,448 | +€21,800 | +12.9% |
| Other operating charges | 640/8 | €177,850 | €76,898 | -€100,952 | -56.8% |
| Gross operating margin | 9900 | €354,235 | €382,468 | +€28,233 | +8.0% |
| Operating profit (loss) | 9901 | €6,738 | €114,123 | +€107,385 | +1,594% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €76,963 | €120,042 | +€43,078 | +56.0% |
| Recurring financial charges | 65 | €76,963 | €120,042 | +€43,078 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | -€70,226 | -€5,919 | +€64,307 | +91.6% |
| Profit (loss) for the period | 9904 | -€70,226 | -€5,919 | +€64,307 | +91.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,226 | -€5,919 | +€64,307 | +91.6% |
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 14 October 2026 via checked.be.