COPHAREM: 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.
COPHAREM
Largest movements
- Cash -€171,226
down €171,226 (-56.2%), from €304,786 to €133,560
mainly Receivables within one year (-€162,258) and Stocks and contracts (-€86,680)
- Receivables within one year +€162,258
up €162,258 (+20.9%), from €776,203 to €938,461
of which Trade receivables: +€91,762
- Stocks and contracts +€86,680
up €86,680 (+346%), from €25,052 to €111,732
- Tangible fixed assets -€20,592
down €20,592 (-25.7%), from €80,132 to €59,540
of which Other tangible fixed assets: -€14,184
- Current portion of long-term debt -€73,178
down €73,178 (-82.2%), from €89,032 to €15,854
- Trade debts +€68,830
up €68,830 (+19.4%), from €354,150 to €422,980
of which Bills of exchange payable: +€145,403
- Profit (loss) carried forward +€39,413
up €39,413 (+7.0%), from €565,739 to €605,152
- Tax, wage and social debts +€21,936
up €21,936 (+20.7%), from €106,028 to €127,964
of which Remuneration and social security: +€52,322
- Purchases and services -€252,680
down €252,680 (-15.1%), from €1.7m to €1.4m
- Turnover -€206,457
down €206,457 (-10.8%), from €1.9m to €1.7m
- Staff costs +€98,963
up €98,963 (+66.1%), from €149,757 to €248,720
- Gross operating margin +€66,568
up €66,568 (+23.3%), from €286,167 to €352,735
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,186,708 | €1,243,710 | +€57,001 | +4.8% |
| Fixed assets | 21/28 | €80,195 | €59,603 | -€20,592 | -25.7% |
| Tangible fixed assets | 22/27 | €80,132 | €59,540 | -€20,592 | -25.7% |
| Land and buildings | 22 | €1,983 | €1,983 | = | 0.0% |
| Furniture and vehicles | 24 | €9,449 | €11,567 | +€2,119 | +22.4% |
| Leasing and similar rights | 25 | €8,527 | - | -€8,527 | |
| Other tangible fixed assets | 26 | €60,173 | €45,989 | -€14,184 | -23.6% |
| Financial fixed assets | 28 | €63 | €63 | = | 0.0% |
| Current assets | 29/58 | €1,106,513 | €1,184,106 | +€77,593 | +7.0% |
| Stocks and contracts in progress | 3 | €25,052 | €111,732 | +€86,680 | +346% |
| Stocks | 30/36 | €25,052 | €111,732 | +€86,680 | +346% |
| Amounts receivable within one year | 40/41 | €776,203 | €938,461 | +€162,258 | +20.9% |
| Trade receivables | 40 | €178,913 | €270,675 | +€91,762 | +51.3% |
| Other amounts receivable | 41 | €597,290 | €667,786 | +€70,496 | +11.8% |
| Cash at bank and in hand | 54/58 | €304,786 | €133,560 | -€171,226 | -56.2% |
| Deferred charges and accrued income | 490/1 | €472 | €353 | -€119 | -25.1% |
| Total equity and liabilities | 10/49 | €1,186,708 | €1,243,710 | +€57,001 | +4.8% |
| Equity | 10/15 | €587,499 | €626,912 | +€39,413 | +6.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,168 | €3,168 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,309 | €1,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | €565,739 | €605,152 | +€39,413 | +7.0% |
| Amounts payable | 17/49 | €599,210 | €616,798 | +€17,588 | +2.9% |
| Amounts payable within one year | 42/48 | €599,210 | €616,798 | +€17,588 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €89,032 | €15,854 | -€73,178 | -82.2% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €354,150 | €422,980 | +€68,830 | +19.4% |
| Suppliers | 440/4 | €354,150 | €277,578 | -€76,572 | -21.6% |
| Bills of exchange payable | 441 | - | €145,403 | +€145,403 | |
| Taxes, remuneration and social security | 45 | €106,028 | €127,964 | +€21,936 | +20.7% |
| Taxes | 450/3 | €93,688 | €63,301 | -€30,386 | -32.4% |
| Remuneration and social security | 454/9 | €12,341 | €64,662 | +€52,322 | +424% |
| Turnover | 70 | €1,917,186 | €1,710,729 | -€206,457 | -10.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,670,621 | €1,417,941 | -€252,680 | -15.1% |
| Remuneration, social security and pensions | 62 | €149,757 | €248,720 | +€98,963 | +66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,916 | €28,051 | +€3,135 | +12.6% |
| Other operating charges | 640/8 | €2,466 | €2,624 | +€158 | +6.4% |
| Gross operating margin | 9900 | €286,167 | €352,735 | +€66,568 | +23.3% |
| Operating profit (loss) | 9901 | €109,028 | €73,340 | -€35,687 | -32.7% |
| Financial income | 75/76B | €9,026 | €2,323 | -€6,703 | -74.3% |
| Recurring financial income | 75 | €280 | €12 | -€268 | -95.7% |
| Non-recurring financial income | 76B | €8,746 | €2,311 | -€6,435 | -73.6% |
| Financial charges | 65/66B | €15,899 | €20,469 | +€4,570 | +28.7% |
| Recurring financial charges | 65 | €15,899 | €20,469 | +€4,570 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €102,155 | €55,194 | -€46,961 | -46.0% |
| Income taxes | 67/77 | €31,159 | €15,781 | -€15,378 | -49.4% |
| Profit (loss) for the period | 9904 | €70,996 | €39,413 | -€31,583 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,996 | €39,413 | -€31,583 | -44.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.