COPPENS STEFAN: 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 STEFAN
Largest movements
- Current investments +€98,563
new in 2025: €98,563
- Cash -€56,695
down €56,695 (-46.9%), from €120,980 to €64,285
mainly Current investments (-€98,563) and Tax, wage and social debts (-€973)
- Stocks and contracts -€5,900
down €5,900 (-28.4%), from €20,800 to €14,900
of which Contracts in progress: -€7,000
- Receivables within one year -€1,940
down €1,940 (-23.1%), from €8,414 to €6,474
of which Trade receivables: -€2,942
- Reserves +€31,840
up €31,840 (+25.0%), from €127,382 to €159,222
- Trade debts +€3,317
up €3,317 (+79.6%), from €4,167 to €7,484
- Gross operating margin +€26,354
up €26,354 (+135%), from €19,588 to €45,942
- Taxes +€6,707
up €6,707 (+124%), from €5,420 to €12,127
- Financial charges +€1,391
up €1,391 (+611%), from €228 to €1,619
- Financial income -€578
down €578 (-63.6%), from €909 to €331
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 | €155,145 | €188,526 | +€33,381 | +21.5% |
| Fixed assets | 21/28 | €1,357 | €1,065 | -€292 | -21.5% |
| Tangible fixed assets | 22/27 | €1,157 | €865 | -€292 | -25.2% |
| Plant, machinery and equipment | 23 | €1,157 | €865 | -€292 | -25.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €153,788 | €187,461 | +€33,673 | +21.9% |
| Stocks and contracts in progress | 3 | €20,800 | €14,900 | -€5,900 | -28.4% |
| Stocks | 30/36 | €2,800 | €3,900 | +€1,100 | +39.3% |
| Contracts in progress | 37 | €18,000 | €11,000 | -€7,000 | -38.9% |
| Amounts receivable within one year | 40/41 | €8,414 | €6,474 | -€1,940 | -23.1% |
| Trade receivables | 40 | €2,942 | €0 | -€2,942 | -100% |
| Other amounts receivable | 41 | €5,472 | €6,474 | +€1,002 | +18.3% |
| Current investments | 50/53 | - | €98,563 | +€98,563 | |
| Cash at bank and in hand | 54/58 | €120,980 | €64,285 | -€56,695 | -46.9% |
| Deferred charges and accrued income | 490/1 | €3,595 | €3,239 | -€356 | -9.9% |
| Total equity and liabilities | 10/49 | €155,145 | €188,526 | +€33,381 | +21.5% |
| Equity | 10/15 | €139,782 | €171,622 | +€31,840 | +22.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €127,382 | €159,222 | +€31,840 | +25.0% |
| Distributable reserves | 133 | €127,382 | €159,222 | +€31,840 | +25.0% |
| Amounts payable | 17/49 | €15,363 | €16,905 | +€1,541 | +10.0% |
| Amounts payable within one year | 42/48 | €15,363 | €16,905 | +€1,541 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,167 | €7,484 | +€3,317 | +79.6% |
| Suppliers | 440/4 | €4,167 | €7,484 | +€3,317 | +79.6% |
| Taxes, remuneration and social security | 45 | €10,133 | €9,160 | -€973 | -9.6% |
| Taxes | 450/3 | €7,159 | €3,184 | -€3,975 | -55.5% |
| Remuneration and social security | 454/9 | €2,974 | €5,976 | +€3,002 | +101% |
| Other amounts payable | 47/48 | €1,064 | €261 | -€803 | -75.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €473 | €292 | -€181 | -38.2% |
| Other operating charges | 640/8 | €324 | €395 | +€71 | +22.0% |
| Gross operating margin | 9900 | €19,588 | €45,942 | +€26,354 | +135% |
| Operating profit (loss) | 9901 | €18,792 | €45,255 | +€26,463 | +141% |
| Financial income | 75/76B | €909 | €331 | -€578 | -63.6% |
| Recurring financial income | 75 | €909 | €331 | -€578 | -63.6% |
| Financial charges | 65/66B | €228 | €1,619 | +€1,391 | +611% |
| Recurring financial charges | 65 | €228 | €1,619 | +€1,391 | +611% |
| Profit (loss) for the period before taxes | 9903 | €19,473 | €43,967 | +€24,494 | +126% |
| Income taxes | 67/77 | €5,420 | €12,127 | +€6,707 | +124% |
| Profit (loss) for the period | 9904 | €14,053 | €31,840 | +€17,787 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €14,053 | €31,840 | +€17,787 | +127% |
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 22 October 2026 via checked.be.