Cophar: 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.
Cophar
Largest movements
- Receivables within one year -€656,563
down €656,563 (-94.2%), from €697,150 to €40,587
of which Trade receivables: -€654,966
- Cash -€155,594
down €155,594 (-94.9%), from €163,927 to €8,333
mainly Other debts (-€1.2m) and Contributions, distributions and other (-€680,000)
- Deferred charges and accrued income +€36,700
up €36,700 (+1,112%), from €3,300 to €40,000
- Other debts -€1.2m
down €1.2m (-96.6%), from €1.3m to €43,099
- Profit (loss) carried forward +€448,657
up €448,657 (+1,354%), from €33,133 to €481,789
- Financial income +€343,094
up €343,094 (+44.0%), from €780,000 to €1.1m
of which Financial income: +€443,094
- Financial charges -€24,351
down €24,351 (-99.4%), from €24,506 to €155
- Gross operating margin -€17,491
down €17,491 (-55.8%), from €31,371 to €13,880
- Depreciation +€3,130
up €3,130 (+199%), from €1,572 to €4,701
- Taxes +€2,011
up €2,011, from €0 to €2,011
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 | €2,846,091 | €2,051,133 | -€794,959 | -27.9% |
| Fixed assets | 21/28 | €1,981,714 | €1,962,212 | -€19,502 | -1.0% |
| Tangible fixed assets | 22/27 | €21,714 | €2,212 | -€19,502 | -89.8% |
| Plant, machinery and equipment | 23 | €2,604 | €2,212 | -€392 | -15.0% |
| Furniture and vehicles | 24 | €19,110 | €0 | -€19,110 | -100% |
| Financial fixed assets | 28 | €1,960,000 | €1,960,000 | = | 0.0% |
| Current assets | 29/58 | €864,377 | €88,920 | -€775,457 | -89.7% |
| Amounts receivable within one year | 40/41 | €697,150 | €40,587 | -€656,563 | -94.2% |
| Trade receivables | 40 | €695,554 | €40,587 | -€654,966 | -94.2% |
| Other amounts receivable | 41 | €1,597 | €0 | -€1,597 | -100% |
| Cash at bank and in hand | 54/58 | €163,927 | €8,333 | -€155,594 | -94.9% |
| Deferred charges and accrued income | 490/1 | €3,300 | €40,000 | +€36,700 | +1,112% |
| Total equity and liabilities | 10/49 | €2,846,091 | €2,051,133 | -€794,959 | -27.9% |
| Equity | 10/15 | €1,553,133 | €2,001,789 | +€448,657 | +28.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,270,000 | €1,270,000 | = | 0.0% |
| Distributable reserves | 133 | €1,270,000 | €1,270,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,133 | €481,789 | +€448,657 | +1,354% |
| Amounts payable | 17/49 | €1,292,959 | €49,343 | -€1.2m | -96.2% |
| Amounts payable within one year | 42/48 | €1,268,606 | €49,343 | -€1.2m | -96.1% |
| Trade debts | 44 | €4,871 | €3,960 | -€911 | -18.7% |
| Suppliers | 440/4 | €4,871 | €3,960 | -€911 | -18.7% |
| Taxes, remuneration and social security | 45 | - | €2,284 | +€2,284 | |
| Taxes | 450/3 | - | €2,284 | +€2,284 | |
| Other amounts payable | 47/48 | €1,263,735 | €43,099 | -€1.2m | -96.6% |
| Accrued charges and deferred income | 492/3 | €24,353 | €0 | -€24,353 | -100% |
| Non-recurring operating income | 76A | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,572 | €4,701 | +€3,130 | +199% |
| Other operating charges | 640/8 | €1,519 | €1,449 | -€70 | -4.6% |
| Gross operating margin | 9900 | €31,371 | €13,880 | -€17,491 | -55.8% |
| Operating profit (loss) | 9901 | €28,280 | €7,729 | -€20,551 | -72.7% |
| Financial income | 75/76B | €780,000 | €1,123,094 | +€343,094 | +44.0% |
| Recurring financial income | 75 | €680,000 | €1,123,094 | +€443,094 | +65.2% |
| Non-recurring financial income | 76B | €100,000 | €0 | -€100,000 | -100% |
| Financial charges | 65/66B | €24,506 | €155 | -€24,351 | -99.4% |
| Recurring financial charges | 65 | €24,506 | €155 | -€24,351 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | €783,774 | €1,130,668 | +€346,895 | +44.3% |
| Income taxes | 67/77 | €0 | €2,011 | +€2,011 | |
| Profit (loss) for the period | 9904 | €783,774 | €1,128,657 | +€344,883 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €783,774 | €1,128,657 | +€344,883 | +44.0% |
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 28 October 2026 via checked.be.