Cophana: 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.
What changed
Cophana
NACE 46.460, Wholesale of pharmaceutical and medical goods
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2025 · €1.2m+€40,213
Equity
€334,417
2025 · -€884,415+€1.2m
Cash
€12,252
2025 · -+€12,252
Balance sheet total
€29.1m
2025 · €24.6m+€4.5m
Largest movements
Assets
- Receivables within one year +€3.7m
up €3.7m (+17.5%), from €21.3m to €25.0m
of which Trade receivables: +€2.9m
- Stocks and contracts +€879,134
up €879,134 (+80.5%), from €1.1m to €2.0m
Equity and liabilities
- Trade debts +€3.2m
up €3.2m (+12.8%), from €24.9m to €28.1m
- Profit (loss) carried forward +€1.2m
up €1.2m, from -€1.2m to €26,718
Income statement
- Turnover +€12.0m
up €12.0m (+6.5%), from €184.2m to €196.2m
- Goods and materials +€11.8m
up €11.8m (+6.4%), from €184.1m to €195.9m
of which Purchases: +€12.1m
- Other operating income +€2.5m
up €2.5m (+19.3%), from €13.1m to €15.6m
- Services and other goods +€2.1m
up €2.1m (+24.2%), from €8.6m to €10.7m
From the 2025 result to the 2026 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 2025
€1.2m
Turnover
+€12.0m
Other operating income
+€2.5m
Goods and materials
-€11.8m
Services and other goods
-€2.1m
Staff costs
-€547,605
Depreciation
+€45,815
Write-downs
-€182,999
Provisions
+€88,181
Other operating charges
+€24,086
Other operating items
+€3,740
Financial income
-€39,588
Financial charges
-€34,779
Taxes
+€51,085
Result 2026
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€369,733
Investment
-€357,482
Financing
+€1
Cash 2025
€0
From operations (derived)
+€369,733
Net result for the year
+€1.2m
Depreciation
+€501,268
Stocks and contracts
-€879,134
Receivables within one year
-€3.7m
Deferred charges and accrued income
-€38,951
Provisions
+€45,819
Trade debts
+€3.2m
Tax, wage and social debts
+€53,634
Accrued charges and deferred income
+€12,530
Investment (derived)
-€357,482
Investment in fixed assets (net)
-€357,482
Financing
+€1
Contributions, distributions and other
+€1
Cash 2026
€12,252
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,591,419 | €29,108,456 | +€4.5m | +18.4% |
| Fixed assets | 21/28 | €1,943,268 | €1,799,482 | -€143,786 | -7.4% |
| Intangible fixed assets | 21 | €148,386 | €12,073 | -€136,313 | -91.9% |
| Tangible fixed assets | 22/27 | €1,794,882 | €1,787,409 | -€7,473 | -0.4% |
| Plant, machinery and equipment | 23 | €1,676,162 | €1,577,017 | -€99,145 | -5.9% |
| Furniture and vehicles | 24 | €96,811 | €209,165 | +€112,354 | +116% |
| Other tangible fixed assets | 26 | €21,909 | €1,227 | -€20,682 | -94.4% |
| Current assets | 29/58 | €22,648,151 | €27,308,974 | +€4.7m | +20.6% |
| Stocks and contracts in progress | 3 | €1,091,608 | €1,970,742 | +€879,134 | +80.5% |
| Stocks | 30/36 | €1,091,608 | €1,970,742 | +€879,134 | +80.5% |
| Goods purchased for resale | 34 | €1,091,608 | €1,970,742 | +€879,134 | +80.5% |
| Amounts receivable within one year | 40/41 | €21,279,837 | €25,010,323 | +€3.7m | +17.5% |
| Trade receivables | 40 | €19,566,773 | €22,455,887 | +€2.9m | +14.8% |
| Other amounts receivable | 41 | €1,713,064 | €2,554,436 | +€841,372 | +49.1% |
| Cash at bank and in hand | 54/58 | - | €12,252 | +€12,252 | |
| Deferred charges and accrued income | 490/1 | €276,706 | €315,657 | +€38,951 | +14.1% |
| Total equity and liabilities | 10/49 | €24,591,419 | €29,108,456 | +€4.5m | +18.4% |
| Equity | 10/15 | -€884,415 | €334,417 | +€1.2m | |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €57,699 | €57,699 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,084 | €27,084 | = | 0.0% |
| Legal reserve | 130 | €27,084 | €27,084 | = | 0.0% |
| Distributable reserves | 133 | €30,615 | €30,615 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,192,114 | €26,718 | +€1.2m | |
| Provisions and deferred taxes | 16 | €134,000 | €179,819 | +€45,819 | +34.2% |
| Provisions for liabilities and charges | 160/5 | €134,000 | €179,819 | +€45,819 | +34.2% |
| Other liabilities and charges | 164/5 | €134,000 | €179,819 | +€45,819 | +34.2% |
| Amounts payable | 17/49 | €25,341,834 | €28,594,220 | +€3.3m | +12.8% |
| Amounts payable within one year | 42/48 | €25,341,834 | €28,581,690 | +€3.2m | +12.8% |
| Trade debts | 44 | €24,884,078 | €28,070,300 | +€3.2m | +12.8% |
| Suppliers | 440/4 | €24,884,078 | €28,070,300 | +€3.2m | +12.8% |
| Taxes, remuneration and social security | 45 | €457,756 | €511,390 | +€53,634 | +11.7% |
| Taxes | 450/3 | €57,220 | €63,355 | +€6,135 | +10.7% |
| Remuneration and social security | 454/9 | €400,536 | €448,035 | +€47,499 | +11.9% |
| Accrued charges and deferred income | 492/3 | - | €12,530 | +€12,530 | |
| Operating income | 70/76A | €197,267,816 | €211,817,829 | +€14.6m | +7.4% |
| Turnover | 70 | €184,156,004 | €196,169,433 | +€12.0m | +6.5% |
| Other operating income | 74 | €13,095,316 | €15,625,605 | +€2.5m | +19.3% |
| Non-recurring operating income | 76A | €16,496 | €22,791 | +€6,295 | +38.2% |
| Operating charges | 60/66A | €196,314,819 | €210,801,337 | +€14.5m | +7.4% |
| Goods for resale, raw materials and consumables | 60 | €184,107,204 | €195,924,351 | +€11.8m | +6.4% |
| Purchases | 600/8 | €184,642,748 | €196,754,202 | +€12.1m | +6.6% |
| Change in stocks: decrease (increase) | 609 | -€535,544 | -€829,851 | -€294,307 | -55.0% |
| Services and other goods | 61 | €8,644,062 | €10,738,356 | +€2.1m | +24.2% |
| Remuneration, social security and pensions | 62 | €2,917,626 | €3,465,231 | +€547,605 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €547,083 | €501,268 | -€45,815 | -8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€135,313 | €47,686 | +€182,999 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €134,000 | €45,819 | -€88,181 | -65.8% |
| Other operating charges | 640/8 | €85,461 | €61,375 | -€24,086 | -28.2% |
| Non-recurring operating charges | 66A | €14,696 | €17,251 | +€2,555 | +17.4% |
| Operating profit (loss) | 9901 | €952,997 | €1,016,492 | +€63,495 | +6.7% |
| Financial income | 75/76B | €286,912 | €247,324 | -€39,588 | -13.8% |
| Recurring financial income | 75 | €286,543 | €247,243 | -€39,300 | -13.7% |
| Income from financial fixed assets | 750 | - | €83,810 | +€83,810 | |
| Other financial income | 752/9 | €286,543 | €163,433 | -€123,110 | -43.0% |
| Non-recurring financial income | 76B | €369 | €81 | -€288 | -78.0% |
| Financial charges | 65/66B | €4,071 | €38,850 | +€34,779 | +854% |
| Recurring financial charges | 65 | €3,932 | €38,483 | +€34,551 | +879% |
| Debt charges | 650 | €3,932 | - | -€3,932 | |
| Other financial charges | 652/9 | - | €38,483 | +€38,483 | |
| Non-recurring financial charges | 66B | €139 | €367 | +€228 | +164% |
| Profit (loss) for the period before taxes | 9903 | €1,235,838 | €1,224,966 | -€10,872 | -0.9% |
| Income taxes | 67/77 | €57,220 | €6,135 | -€51,085 | -89.3% |
| Taxes | 670/3 | €57,220 | €6,135 | -€51,085 | -89.3% |
| Profit (loss) for the period | 9904 | €1,178,618 | €1,218,831 | +€40,213 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,178,618 | €1,218,831 | +€40,213 | +3.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.