COPINE: 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.
COPINE
Largest movements
- Tangible fixed assets +€99,111
up €99,111 (+27.8%), from €356,297 to €455,408
of which Plant, machinery and equipment: +€266,902
- Receivables within one year +€55,209
up €55,209 (+34.1%), from €161,998 to €217,207
of which Trade receivables: +€30,284
- Deferred charges and accrued income -€47,070
no longer reported in 2023 (was €47,070)
- Cash -€14,229
down €14,229 (-35.5%), from €40,034 to €25,805
mainly Investment in fixed assets (net) (-€194,895) and Receivables within one year (-€55,209)
- Stocks and contracts -€9,907
down €9,907 (-19.5%), from €50,787 to €40,880
- Debts after one year +€78,783
up €78,783 (+78.5%), from €100,343 to €179,126
- Current portion of long-term debt +€22,998
up €22,998 (+30.5%), from €75,506 to €98,504
- Tax, wage and social debts -€11,001
down €11,001 (-46.6%), from €23,586 to €12,585
of which Remuneration and social security: -€5,693
- Reserves -€10,600
down €10,600 (-6.9%), from €153,253 to €142,653
of which Tax-exempt reserves: -€10,600
- Gross operating margin -€63,002
down €63,002 (-20.7%), from €304,685 to €241,683
- Staff costs -€28,718
down €28,718 (-17.5%), from €163,642 to €134,924
- Financial income +€24,114
up €24,114 (+524.7%), from €4,596 to €28,710
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €656,186 | €739,300 | +€83,114 | +12.7% |
| Fixed assets | 21/28 | €356,297 | €455,408 | +€99,111 | +27.8% |
| Tangible fixed assets | 22/27 | €356,297 | €455,408 | +€99,111 | +27.8% |
| Land and buildings | 22 | €212,479 | €188,506 | -€23,973 | -11.3% |
| Plant, machinery and equipment | 23 | - | €266,902 | +€266,902 | |
| Furniture and vehicles | 24 | €143,818 | - | -€143,818 | |
| Current assets | 29/58 | €299,889 | €283,892 | -€15,997 | -5.3% |
| Stocks and contracts in progress | 3 | €50,787 | €40,880 | -€9,907 | -19.5% |
| Stocks | 30/36 | €50,787 | €40,880 | -€9,907 | -19.5% |
| Amounts receivable within one year | 40/41 | €161,998 | €217,207 | +€55,209 | +34.1% |
| Trade receivables | 40 | €158,754 | €189,038 | +€30,284 | +19.1% |
| Other amounts receivable | 41 | €3,244 | €28,169 | +€24,925 | +768.3% |
| Cash at bank and in hand | 54/58 | €40,034 | €25,805 | -€14,229 | -35.5% |
| Deferred charges and accrued income | 490/1 | €47,070 | - | -€47,070 | |
| Total equity and liabilities | 10/49 | €656,186 | €739,300 | +€83,114 | +12.7% |
| Equity | 10/15 | €364,628 | €358,306 | -€6,322 | -1.7% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €153,253 | €142,653 | -€10,600 | -6.9% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €85,858 | €75,258 | -€10,600 | -12.3% |
| Distributable reserves | 133 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,658 | €58,769 | +€5,111 | +9.5% |
| Investment grants | 15 | €33,770 | €32,937 | -€833 | -2.5% |
| Amounts payable | 17/49 | €291,558 | €380,994 | +€89,436 | +30.7% |
| Amounts payable after more than one year | 17 | €100,343 | €179,126 | +€78,783 | +78.5% |
| Financial debts | 170/4 | €100,343 | €179,126 | +€78,783 | +78.5% |
| Amounts payable within one year | 42/48 | €191,215 | €201,118 | +€9,903 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €75,506 | €98,504 | +€22,998 | +30.5% |
| Trade debts | 44 | €92,123 | €90,029 | -€2,094 | -2.3% |
| Suppliers | 440/4 | €92,123 | €90,029 | -€2,094 | -2.3% |
| Taxes, remuneration and social security | 45 | €23,586 | €12,585 | -€11,001 | -46.6% |
| Taxes | 450/3 | €14,868 | €9,560 | -€5,308 | -35.7% |
| Remuneration and social security | 454/9 | €8,718 | €3,025 | -€5,693 | -65.3% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Remuneration, social security and pensions | 62 | €163,642 | €134,924 | -€28,718 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,520 | €95,784 | -€2,736 | -2.8% |
| Other operating charges | 640/8 | €34,132 | €33,009 | -€1,123 | -3.3% |
| Gross operating margin | 9900 | €304,685 | €241,683 | -€63,002 | -20.7% |
| Operating profit (loss) | 9901 | €8,391 | -€22,034 | -€30,425 | |
| Financial income | 75/76B | €4,596 | €28,710 | +€24,114 | +524.7% |
| Recurring financial income | 75 | €4,596 | €28,710 | +€24,114 | +524.7% |
| Financial charges | 65/66B | €4,663 | €7,165 | +€2,502 | +53.7% |
| Recurring financial charges | 65 | €4,663 | €7,165 | +€2,502 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €8,324 | -€489 | -€8,813 | |
| Income taxes | 67/77 | €6,352 | €5,000 | -€1,352 | -21.3% |
| Profit (loss) for the period | 9904 | €1,972 | -€5,489 | -€7,461 | |
| Transfer from tax-exempt reserves | 789 | €10,600 | €10,600 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,572 | €5,111 | -€7,461 | -59.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.