COPPENS FREDERIK: 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.
COPPENS FREDERIK
Largest movements
- Stocks and contracts +€98,503
up €98,503 (+15.1%), from €651,074 to €749,576
- Receivables within one year +€37,096
up €37,096 (+54.4%), from €68,233 to €105,329
of which Trade receivables: +€25,180
- Cash +€28,539
up €28,539 (+48.1%), from €59,281 to €87,820
mainly Short-term financial debts (+€123,582) and Depreciation (+€41,829)
- Tangible fixed assets +€26,327
up €26,327 (+10.8%), from €243,349 to €269,677
of which Furniture and vehicles: +€46,204
- Short-term financial debts +€123,582
up €123,582 (+33.7%), from €366,418 to €490,000
- Advances received +€20,718
new in 2025: €20,718
- Debts after one year +€20,528
up €20,528 (+28.3%), from €72,580 to €93,108
- Current portion of long-term debt +€15,077
up €15,077 (+60.7%), from €24,821 to €39,898
- Gross operating margin +€31,748
up €31,748 (+68.0%), from €46,721 to €78,469
- Depreciation +€15,159
up €15,159 (+56.8%), from €26,670 to €41,829
- Financial charges +€7,392
up €7,392 (+51.1%), from €14,458 to €21,850
- Other operating charges -€2,111
down €2,111 (-35.6%), from €5,936 to €3,825
- Taxes +€1,863
up €1,863 (+183%), from €1,020 to €2,883
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.
Derived cash bridge
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 | €1,025,857 | €1,214,695 | +€188,838 | +18.4% |
| Fixed assets | 21/28 | €243,349 | €269,677 | +€26,327 | +10.8% |
| Tangible fixed assets | 22/27 | €243,349 | €269,677 | +€26,327 | +10.8% |
| Land and buildings | 22 | €209,019 | €193,754 | -€15,265 | -7.3% |
| Plant, machinery and equipment | 23 | €11,958 | €7,346 | -€4,612 | -38.6% |
| Furniture and vehicles | 24 | €22,372 | €68,576 | +€46,204 | +207% |
| Current assets | 29/58 | €782,508 | €945,018 | +€162,510 | +20.8% |
| Stocks and contracts in progress | 3 | €651,074 | €749,576 | +€98,503 | +15.1% |
| Stocks | 30/36 | €651,074 | €749,576 | +€98,503 | +15.1% |
| Amounts receivable within one year | 40/41 | €68,233 | €105,329 | +€37,096 | +54.4% |
| Trade receivables | 40 | €23,469 | €48,649 | +€25,180 | +107% |
| Other amounts receivable | 41 | €44,764 | €56,680 | +€11,916 | +26.6% |
| Cash at bank and in hand | 54/58 | €59,281 | €87,820 | +€28,539 | +48.1% |
| Deferred charges and accrued income | 490/1 | €3,920 | €2,293 | -€1,628 | -41.5% |
| Total equity and liabilities | 10/49 | €1,025,857 | €1,214,695 | +€188,838 | +18.4% |
| Equity | 10/15 | €490,718 | €500,822 | +€10,104 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €472,118 | €482,222 | +€10,104 | +2.1% |
| Distributable reserves | 133 | €472,118 | €482,222 | +€10,104 | +2.1% |
| Amounts payable | 17/49 | €535,139 | €713,873 | +€178,734 | +33.4% |
| Amounts payable after more than one year | 17 | €72,580 | €93,108 | +€20,528 | +28.3% |
| Financial debts | 170/4 | €72,580 | €93,108 | +€20,528 | +28.3% |
| Amounts payable within one year | 42/48 | €462,560 | €620,605 | +€158,045 | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €24,821 | €39,898 | +€15,077 | +60.7% |
| Financial debts | 43 | €366,418 | €490,000 | +€123,582 | +33.7% |
| Credit institutions | 430/8 | €366,418 | €490,000 | +€123,582 | +33.7% |
| Trade debts | 44 | €66,854 | €64,134 | -€2,720 | -4.1% |
| Suppliers | 440/4 | €66,854 | €64,134 | -€2,720 | -4.1% |
| Advances received on contracts in progress | 46 | - | €20,718 | +€20,718 | |
| Taxes, remuneration and social security | 45 | €1,020 | €2,831 | +€1,811 | +178% |
| Taxes | 450/3 | €1,020 | €2,831 | +€1,811 | +178% |
| Other amounts payable | 47/48 | €3,447 | €3,023 | -€423 | -12.3% |
| Accrued charges and deferred income | 492/3 | €0 | €160 | +€160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,670 | €41,829 | +€15,159 | +56.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,936 | €3,825 | -€2,111 | -35.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €46,721 | €78,469 | +€31,748 | +68.0% |
| Operating profit (loss) | 9901 | €14,115 | €32,815 | +€18,700 | +132% |
| Financial income | 75/76B | €1,306 | €2,022 | +€716 | +54.8% |
| Recurring financial income | 75 | €1,306 | €2,022 | +€716 | +54.8% |
| Financial charges | 65/66B | €14,458 | €21,850 | +€7,392 | +51.1% |
| Recurring financial charges | 65 | €14,458 | €21,850 | +€7,392 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | €963 | €12,987 | +€12,024 | +1,249% |
| Income taxes | 67/77 | €1,020 | €2,883 | +€1,863 | +183% |
| Profit (loss) for the period | 9904 | -€57 | €10,104 | +€10,161 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57 | €10,104 | +€10,161 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.