COPINI: 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.
COPINI
Largest movements
- Tangible fixed assets -€11,392
down €11,392 (-18.3%), from €62,227 to €50,835
of which Land and buildings: -€8,434
- Receivables within one year +€9,367
up €9,367 (+235.6%), from €3,976 to €13,343
of which Other amounts receivable: +€9,917
- Cash -€8,485
down €8,485 (-12.1%), from €70,340 to €61,855
mainly Receivables within one year (-€9,367) and Debts after one year (-€5,975)
- Stocks and contracts +€3,939
up €3,939 (+17.3%), from €22,735 to €26,674
- Debts after one year -€5,975
down €5,975 (-24.4%), from €24,469 to €18,494
of which Financial debts: -€5,332
- Trade debts -€2,237
down €2,237 (-89.2%), from €2,509 to €272
- Gross operating margin +€14,379
up €14,379 (+1024.1%), from €1,404 to €15,783
- Financial charges -€274
down €274 (-31.0%), from €883 to €609
- Other operating charges -€165
down €165 (-27.8%), from €594 to €429
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 | €159,278 | €152,707 | -€6,571 | -4.1% |
| Fixed assets | 21/28 | €62,227 | €50,835 | -€11,392 | -18.3% |
| Tangible fixed assets | 22/27 | €62,227 | €50,835 | -€11,392 | -18.3% |
| Land and buildings | 22 | €42,169 | €33,735 | -€8,434 | -20.0% |
| Plant, machinery and equipment | 23 | €18,235 | €15,950 | -€2,285 | -12.5% |
| Furniture and vehicles | 24 | €1,823 | €1,150 | -€673 | -36.9% |
| Current assets | 29/58 | €97,051 | €101,872 | +€4,821 | +5.0% |
| Stocks and contracts in progress | 3 | €22,735 | €26,674 | +€3,939 | +17.3% |
| Stocks | 30/36 | €22,735 | €26,674 | +€3,939 | +17.3% |
| Amounts receivable within one year | 40/41 | €3,976 | €13,343 | +€9,367 | +235.6% |
| Trade receivables | 40 | €550 | - | -€550 | |
| Other amounts receivable | 41 | €3,426 | €13,343 | +€9,917 | +289.5% |
| Cash at bank and in hand | 54/58 | €70,340 | €61,855 | -€8,485 | -12.1% |
| Total equity and liabilities | 10/49 | €159,278 | €152,707 | -€6,571 | -4.1% |
| Equity | 10/15 | €126,066 | €127,574 | +€1,508 | +1.2% |
| Contributions | 10/11 | €122,100 | €122,100 | = | 0.0% |
| Capital | 10 | €122,100 | €122,100 | = | 0.0% |
| Issued capital | 100 | €122,100 | €122,100 | = | 0.0% |
| Reserves | 13 | €3,966 | €5,474 | +€1,508 | +38.0% |
| Distributable reserves | 133 | €3,966 | €5,474 | +€1,508 | +38.0% |
| Amounts payable | 17/49 | €33,212 | €25,133 | -€8,079 | -24.3% |
| Amounts payable after more than one year | 17 | €24,469 | €18,494 | -€5,975 | -24.4% |
| Financial debts | 170/4 | €23,826 | €18,494 | -€5,332 | -22.4% |
| Other amounts payable | 178/9 | €643 | - | -€643 | |
| Amounts payable within one year | 42/48 | €8,743 | €6,639 | -€2,104 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €5,236 | €5,332 | +€96 | +1.8% |
| Trade debts | 44 | €2,509 | €272 | -€2,237 | -89.2% |
| Suppliers | 440/4 | €2,509 | €272 | -€2,237 | -89.2% |
| Taxes, remuneration and social security | 45 | €998 | €1,035 | +€37 | +3.7% |
| Taxes | 450/3 | €998 | €1,035 | +€37 | +3.7% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,649 | €13,569 | -€80 | -0.6% |
| Other operating charges | 640/8 | €594 | €429 | -€165 | -27.8% |
| Gross operating margin | 9900 | €1,404 | €15,783 | +€14,379 | +1024.1% |
| Operating profit (loss) | 9901 | -€12,839 | €1,785 | +€14,624 | |
| Financial income | 75/76B | €452 | €333 | -€119 | -26.3% |
| Recurring financial income | 75 | €452 | €333 | -€119 | -26.3% |
| Financial charges | 65/66B | €883 | €609 | -€274 | -31.0% |
| Recurring financial charges | 65 | €883 | €609 | -€274 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,270 | €1,509 | +€14,779 | |
| Income taxes | 67/77 | €77 | - | -€77 | |
| Profit (loss) for the period | 9904 | -€13,347 | €1,509 | +€14,856 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,347 | €1,509 | +€14,856 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.