COPPELEC: 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.
COPPELEC
Largest movements
- Receivables within one year +€50,734
up €50,734 (+31.8%), from €159,366 to €210,101
of which Other amounts receivable: +€33,655
- Cash +€20,420
up €20,420 (+10859.0%), from €188 to €20,608
mainly Accrued charges and deferred income (+€105,000) and Net result for the year (+€23,186)
- Stocks and contracts +€16,000
up €16,000 (+78.0%), from €20,500 to €36,500
of which Stocks: +€16,000
- Tangible fixed assets -€7,213
down €7,213 (-14.6%), from €49,513 to €42,300
of which Furniture and vehicles: -€7,939
- Deferred charges and accrued income +€6,503
up €6,503 (+253.6%), from €2,564 to €9,067
- Accrued charges and deferred income +€105,000
new in 2025: €105,000
- Other debts -€28,439
down €28,439 (-100.0%), from €28,439 to €0
- Reserves +€23,186
up €23,186 (+21.3%), from €108,629 to €131,815
- Trade debts +€17,044
up €17,044 (+111.8%), from €15,239 to €32,284
- Debts after one year -€14,385
down €14,385 (-43.2%), from €33,297 to €18,912
- Gross operating margin -€9,102
down €9,102 (-12.3%), from €73,822 to €64,720
- Taxes +€3,566
up €3,566 (+46.3%), from €7,698 to €11,264
- Financial charges +€1,717
up €1,717 (+24.9%), from €6,897 to €8,614
- Depreciation +€1,041
up €1,041 (+6.0%), from €17,325 to €18,366
- Financial income +€767
up €767 (+333487.0%), from €0 to €767
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 | €232,486 | €318,585 | +€86,099 | +37.0% |
| Formation expenses | 20 | €355 | €9 | -€346 | -97.5% |
| Fixed assets | 21/28 | €49,513 | €42,300 | -€7,213 | -14.6% |
| Tangible fixed assets | 22/27 | €49,513 | €42,300 | -€7,213 | -14.6% |
| Plant, machinery and equipment | 23 | €5,472 | €6,198 | +€726 | +13.3% |
| Furniture and vehicles | 24 | €44,041 | €36,102 | -€7,939 | -18.0% |
| Current assets | 29/58 | €182,618 | €276,276 | +€93,658 | +51.3% |
| Stocks and contracts in progress | 3 | €20,500 | €36,500 | +€16,000 | +78.0% |
| Stocks | 30/36 | €5,500 | €21,500 | +€16,000 | +290.9% |
| Contracts in progress | 37 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €159,366 | €210,101 | +€50,734 | +31.8% |
| Trade receivables | 40 | €61,518 | €78,597 | +€17,079 | +27.8% |
| Other amounts receivable | 41 | €97,848 | €131,503 | +€33,655 | +34.4% |
| Cash at bank and in hand | 54/58 | €188 | €20,608 | +€20,420 | +10859.0% |
| Deferred charges and accrued income | 490/1 | €2,564 | €9,067 | +€6,503 | +253.6% |
| Total equity and liabilities | 10/49 | €232,486 | €318,585 | +€86,099 | +37.0% |
| Equity | 10/15 | €116,629 | €139,815 | +€23,186 | +19.9% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €108,629 | €131,815 | +€23,186 | +21.3% |
| Distributable reserves | 133 | €108,629 | €131,815 | +€23,186 | +21.3% |
| Amounts payable | 17/49 | €115,857 | €178,770 | +€62,913 | +54.3% |
| Amounts payable after more than one year | 17 | €33,297 | €18,912 | -€14,385 | -43.2% |
| Financial debts | 170/4 | €33,297 | €18,912 | -€14,385 | -43.2% |
| Amounts payable within one year | 42/48 | €82,560 | €54,859 | -€27,702 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €27,151 | €14,385 | -€12,766 | -47.0% |
| Financial debts | 43 | €5,889 | €5,876 | -€13 | -0.2% |
| Credit institutions | 430/8 | €5,889 | €5,876 | -€13 | -0.2% |
| Trade debts | 44 | €15,239 | €32,284 | +€17,044 | +111.8% |
| Suppliers | 440/4 | €15,239 | €32,284 | +€17,044 | +111.8% |
| Taxes, remuneration and social security | 45 | €5,843 | €2,314 | -€3,529 | -60.4% |
| Taxes | 450/3 | €4,343 | €2,314 | -€2,029 | -46.7% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100.0% |
| Other amounts payable | 47/48 | €28,439 | €0 | -€28,439 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €105,000 | +€105,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,325 | €18,366 | +€1,041 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,202 | €2,202 | = | 0.0% |
| Other operating charges | 640/8 | €1,512 | €1,855 | +€343 | +22.7% |
| Non-recurring operating charges | 66A | €54 | €0 | -€54 | -100.0% |
| Gross operating margin | 9900 | €73,822 | €64,720 | -€9,102 | -12.3% |
| Operating profit (loss) | 9901 | €52,729 | €42,297 | -€10,432 | -19.8% |
| Financial income | 75/76B | €0 | €767 | +€767 | +333487.0% |
| Recurring financial income | 75 | €0 | €767 | +€767 | +333487.0% |
| Financial charges | 65/66B | €6,897 | €8,614 | +€1,717 | +24.9% |
| Recurring financial charges | 65 | €6,897 | €8,614 | +€1,717 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €45,832 | €34,450 | -€11,382 | -24.8% |
| Income taxes | 67/77 | €7,698 | €11,264 | +€3,566 | +46.3% |
| Profit (loss) for the period | 9904 | €38,134 | €23,186 | -€14,947 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,134 | €23,186 | -€14,947 | -39.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.