COPIA: 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.
COPIA
Largest movements
- Tangible fixed assets -€66,932
down €66,932 (-28.3%), from €236,379 to €169,447
of which Furniture and vehicles: -€65,061
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€100,478
up €100,478, from -€63,515 to €36,964
- Financial income +€35,508
up €35,508 (+56.1%), from €63,283 to €98,792
- Financial charges +€23,714
up €23,714 (+174.2%), from €13,616 to €37,330
- Taxes +€1,650
up €1,650 (+70.5%), from €2,341 to €3,991
- Other operating charges -€1,560
down €1,560 (-20.5%), from €7,595 to €6,035
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 | €4,144,697 | €4,119,478 | -€25,219 | -0.6% |
| Fixed assets | 21/28 | €236,379 | €169,447 | -€66,932 | -28.3% |
| Tangible fixed assets | 22/27 | €236,379 | €169,447 | -€66,932 | -28.3% |
| Plant, machinery and equipment | 23 | €3,569 | €2,562 | -€1,007 | -28.2% |
| Furniture and vehicles | 24 | €225,252 | €160,191 | -€65,061 | -28.9% |
| Other tangible fixed assets | 26 | €7,558 | €6,694 | -€864 | -11.4% |
| Current assets | 29/58 | €3,908,318 | €3,950,031 | +€41,713 | +1.1% |
| Amounts receivable within one year | 40/41 | €29,246 | €16,797 | -€12,449 | -42.6% |
| Trade receivables | 40 | €14,144 | €0 | -€14,144 | -100.0% |
| Other amounts receivable | 41 | €15,103 | €16,797 | +€1,694 | +11.2% |
| Current investments | 50/53 | €3,453,864 | €3,487,332 | +€33,468 | +1.0% |
| Cash at bank and in hand | 54/58 | €425,208 | €441,855 | +€16,647 | +3.9% |
| Deferred charges and accrued income | 490/1 | - | €4,047 | +€4,047 | |
| Total equity and liabilities | 10/49 | €4,144,697 | €4,119,478 | -€25,219 | -0.6% |
| Equity | 10/15 | €3,925,431 | €3,946,900 | +€21,468 | +0.5% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €3,816,953 | €3,838,421 | +€21,468 | +0.6% |
| Non-distributable reserves | 130/1 | €74,020 | €74,020 | = | 0.0% |
| Legal reserve | 130 | €74,020 | €74,020 | = | 0.0% |
| Distributable reserves | 133 | €3,742,933 | €3,764,401 | +€21,468 | +0.6% |
| Profit (loss) carried forward | 14 | -€66,521 | -€66,521 | = | 0.0% |
| Amounts payable | 17/49 | €219,266 | €172,578 | -€46,687 | -21.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €219,266 | €172,578 | -€46,687 | -21.3% |
| Trade debts | 44 | €19,145 | €10,789 | -€8,356 | -43.6% |
| Suppliers | 440/4 | €19,145 | €10,789 | -€8,356 | -43.6% |
| Taxes, remuneration and social security | 45 | €1,006 | €0 | -€1,006 | -100.0% |
| Taxes | 450/3 | €1,006 | €0 | -€1,006 | -100.0% |
| Other amounts payable | 47/48 | €199,115 | €161,790 | -€37,325 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,932 | €66,932 | = | 0.0% |
| Other operating charges | 640/8 | €7,595 | €6,035 | -€1,560 | -20.5% |
| Gross operating margin | 9900 | -€63,515 | €36,964 | +€100,478 | |
| Operating profit (loss) | 9901 | -€138,041 | -€36,002 | +€102,039 | +73.9% |
| Financial income | 75/76B | €63,283 | €98,792 | +€35,508 | +56.1% |
| Recurring financial income | 75 | €63,283 | €98,792 | +€35,508 | +56.1% |
| Financial charges | 65/66B | €13,616 | €37,330 | +€23,714 | +174.2% |
| Recurring financial charges | 65 | €13,616 | €37,330 | +€23,714 | +174.2% |
| Profit (loss) for the period before taxes | 9903 | -€88,374 | €25,459 | +€113,833 | |
| Income taxes | 67/77 | €2,341 | €3,991 | +€1,650 | +70.5% |
| Profit (loss) for the period | 9904 | -€90,715 | €21,468 | +€112,183 | |
| Profit (loss) for the period to be appropriated | 9905 | -€90,715 | €21,468 | +€112,183 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.