Copperman: 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.
Copperman
Largest movements
- Cash +€23,568
up €23,568 (+186.1%), from €12,664 to €36,232
mainly Net result for the year (+€27,155) and Receivables within one year (+€14,218)
- Tangible fixed assets +€22,193
up €22,193 (+429.7%), from €5,165 to €27,358
of which Other tangible fixed assets: +€12,869
- Receivables within one year -€14,218
no longer reported in 2025 (was €14,218)
- Deferred charges and accrued income -€1,139
down €1,139 (-48.0%), from €2,372 to €1,233
- Reserves +€27,000
up €27,000 (+900.0%), from €3,000 to €30,000
- Debts after one year +€8,002
new in 2025: €8,002
- Other debts -€4,448
down €4,448 (-42.0%), from €10,580 to €6,133
- Trade debts -€4,013
down €4,013 (-52.1%), from €7,704 to €3,691
- Current portion of long-term debt +€3,023
new in 2025: €3,023
- Gross operating margin +€33,243
up €33,243 (+489.2%), from €6,796 to €40,039
- Taxes +€6,650
up €6,650 (+443.3%), from €1,500 to €8,150
- Depreciation +€3,152
up €3,152 (+573.5%), from €550 to €3,702
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 | €34,419 | €64,823 | +€30,404 | +88.3% |
| Fixed assets | 21/28 | €5,165 | €27,358 | +€22,193 | +429.7% |
| Tangible fixed assets | 22/27 | €5,165 | €27,358 | +€22,193 | +429.7% |
| Plant, machinery and equipment | 23 | €2,599 | €3,013 | +€414 | +15.9% |
| Furniture and vehicles | 24 | €2,566 | €11,476 | +€8,910 | +347.2% |
| Other tangible fixed assets | 26 | - | €12,869 | +€12,869 | |
| Current assets | 29/58 | €29,254 | €37,465 | +€8,211 | +28.1% |
| Amounts receivable within one year | 40/41 | €14,218 | - | -€14,218 | |
| Trade receivables | 40 | €14,218 | - | -€14,218 | |
| Cash at bank and in hand | 54/58 | €12,664 | €36,232 | +€23,568 | +186.1% |
| Deferred charges and accrued income | 490/1 | €2,372 | €1,233 | -€1,139 | -48.0% |
| Total equity and liabilities | 10/49 | €34,419 | €64,823 | +€30,404 | +88.3% |
| Equity | 10/15 | €5,796 | €32,951 | +€27,155 | +468.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €3,000 | €30,000 | +€27,000 | +900.0% |
| Distributable reserves | 133 | €3,000 | €30,000 | +€27,000 | +900.0% |
| Profit (loss) carried forward | 14 | €296 | €451 | +€155 | +52.5% |
| Amounts payable | 17/49 | €28,623 | €31,871 | +€3,248 | +11.3% |
| Amounts payable after more than one year | 17 | - | €8,002 | +€8,002 | |
| Financial debts | 170/4 | - | €8,002 | +€8,002 | |
| Amounts payable within one year | 42/48 | €28,623 | €23,869 | -€4,754 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | - | €3,023 | +€3,023 | |
| Trade debts | 44 | €7,704 | €3,691 | -€4,013 | -52.1% |
| Suppliers | 440/4 | €7,704 | €3,691 | -€4,013 | -52.1% |
| Taxes, remuneration and social security | 45 | €10,339 | €11,023 | +€684 | +6.6% |
| Taxes | 450/3 | €7,839 | €8,523 | +€684 | +8.7% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €10,580 | €6,133 | -€4,448 | -42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €550 | €3,702 | +€3,152 | +573.5% |
| Other operating charges | 640/8 | €427 | €266 | -€162 | -37.8% |
| Gross operating margin | 9900 | €6,796 | €40,039 | +€33,243 | +489.2% |
| Operating profit (loss) | 9901 | €5,819 | €36,072 | +€30,253 | +519.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,023 | €767 | -€256 | -25.0% |
| Recurring financial charges | 65 | €1,023 | €767 | -€256 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €4,796 | €35,305 | +€30,509 | +636.1% |
| Income taxes | 67/77 | €1,500 | €8,150 | +€6,650 | +443.3% |
| Profit (loss) for the period | 9904 | €3,296 | €27,155 | +€23,859 | +723.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,296 | €27,155 | +€23,859 | +723.9% |
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.