COPUS GROUP: 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.
What changed
COPUS GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€858,117
2024 · -€93,750+€951,867
Equity
€94.5m
2024 · €93.6m+€858,117
Cash
€235,705
2024 · €2.3m-€2.1m
Balance sheet total
€183.1m
2024 · €167.9m+€15.2m
Largest movements
Assets
- Financial fixed assets +€16.1m
up €16.1m (+10.2%), from €157.4m to €173.5m
- Cash -€2.1m
down €2.1m (-89.7%), from €2.3m to €235,705
mainly Investment in fixed assets (net) (-€16.1m) and Receivables within one year (-€1.4m)
Equity and liabilities
- Debts after one year +€14.4m
up €14.4m (+21.0%), from €68.4m to €82.8m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
-€93,750
Depreciation
+€125
Other operating charges
-€33
Other operating items
+€102,752
Financial income
+€1.2m
Financial charges
-€370,328
Taxes
+€36,397
Result 2025
€858,117
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.0m
Investment
-€16.1m
Financing
+€15.1m
Cash 2024
€2.3m
From operations (derived)
-€1.0m
Net result for the year
+€858,117
Depreciation
+€1,109
Receivables within one year
-€1.4m
Deferred charges and accrued income
+€216,755
Smaller working-capital items
+€6,258
Tax, wage and social debts
+€60,639
Other debts
-€803,585
Investment (derived)
-€16.1m
Investment in fixed assets (net)
-€16.1m
Financing
+€15.1m
Debts after one year
+€14.4m
Current portion of long-term debt
+€675,000
Cash 2025
€235,705
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €167,907,061 | €183,089,965 | +€15.2m | +9.0% |
| Fixed assets | 21/28 | €157,403,716 | €173,503,145 | +€16.1m | +10.2% |
| Intangible fixed assets | 21 | €1,266 | €157 | -€1,109 | -87.6% |
| Financial fixed assets | 28 | €157,402,449 | €173,502,988 | +€16.1m | +10.2% |
| Affiliated companies | 280/1 | €157,402,449 | €173,502,988 | +€16.1m | +10.2% |
| Participating interests | 280 | €92,610,229 | €94,707,055 | +€2.1m | +2.3% |
| Amounts receivable | 281 | €64,792,221 | €78,795,933 | +€14.0m | +21.6% |
| Current assets | 29/58 | €10,503,345 | €9,586,819 | -€916,526 | -8.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €7,981,668 | €9,333,099 | +€1.4m | +16.9% |
| Trade receivables | 40 | €197 | - | -€197 | |
| Other amounts receivable | 41 | €7,981,471 | €9,333,099 | +€1.4m | +16.9% |
| Cash at bank and in hand | 54/58 | €2,286,906 | €235,705 | -€2.1m | -89.7% |
| Deferred charges and accrued income | 490/1 | €234,771 | €18,016 | -€216,755 | -92.3% |
| Total equity and liabilities | 10/49 | €167,907,061 | €183,089,965 | +€15.2m | +9.0% |
| Equity | 10/15 | €93,642,917 | €94,501,034 | +€858,117 | +0.9% |
| Contributions | 10/11 | €34,460,000 | €34,460,000 | = | 0.0% |
| Capital | 10 | €32,800,000 | €32,800,000 | = | 0.0% |
| Issued capital | 100 | €32,800,000 | €32,800,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,660,000 | €1,660,000 | = | 0.0% |
| Share premium | 1100/10 | €1,660,000 | €1,660,000 | = | 0.0% |
| Reserves | 13 | €3,280,000 | €3,280,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,280,000 | €3,280,000 | = | 0.0% |
| Legal reserve | 130 | €3,280,000 | €3,280,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,902,917 | €56,761,034 | +€858,117 | +1.5% |
| Amounts payable | 17/49 | €74,264,144 | €88,588,931 | +€14.3m | +19.3% |
| Amounts payable after more than one year | 17 | €68,438,219 | €82,824,695 | +€14.4m | +21.0% |
| Financial debts | 170/4 | €68,438,219 | €82,824,695 | +€14.4m | +21.0% |
| Subordinated loans | 170 | €31,233,281 | €39,036,464 | +€7.8m | +25.0% |
| Credit institutions | 173 | €37,204,938 | €43,788,231 | +€6.6m | +17.7% |
| Amounts payable within one year | 42/48 | €5,393,597 | €5,321,086 | -€72,511 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €3,541,708 | €4,216,708 | +€675,000 | +19.1% |
| Trade debts | 44 | €72,519 | €67,955 | -€4,564 | -6.3% |
| Suppliers | 440/4 | €72,519 | €67,955 | -€4,564 | -6.3% |
| Taxes, remuneration and social security | 45 | €13,415 | €74,054 | +€60,639 | +452% |
| Taxes | 450/3 | €13,415 | €74,054 | +€60,639 | +452% |
| Other amounts payable | 47/48 | €1,765,956 | €962,370 | -€803,585 | -45.5% |
| Accrued charges and deferred income | 492/3 | €432,328 | €443,150 | +€10,822 | +2.5% |
| Operating charges | 60/66A | €275,702 | €172,858 | -€102,844 | -37.3% |
| Services and other goods | 61 | €273,383 | €170,630 | -€102,752 | -37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,234 | €1,109 | -€125 | -10.1% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Operating profit (loss) | 9901 | -€275,702 | -€172,858 | +€102,844 | +37.3% |
| Financial income | 75/76B | €6,785,071 | €7,968,024 | +€1.2m | +17.4% |
| Recurring financial income | 75 | €6,785,071 | €6,155,277 | -€629,794 | -9.3% |
| Income from financial fixed assets | 750 | €1,200,000 | €1,400,000 | +€200,000 | +16.7% |
| Income from current assets | 751 | €5,301,938 | €4,696,391 | -€605,546 | -11.4% |
| Other financial income | 752/9 | €283,133 | €58,886 | -€224,247 | -79.2% |
| Non-recurring financial income | 76B | €0 | €1,812,747 | +€1.8m | |
| Financial charges | 65/66B | €6,556,048 | €6,926,377 | +€370,328 | +5.6% |
| Recurring financial charges | 65 | €6,556,048 | €6,141,377 | -€414,672 | -6.3% |
| Debt charges | 650 | €6,173,334 | €5,713,277 | -€460,057 | -7.5% |
| Other financial charges | 652/9 | €382,714 | €428,100 | +€45,386 | +11.9% |
| Non-recurring financial charges | 66B | €0 | €785,000 | +€785,000 | |
| Profit (loss) for the period before taxes | 9903 | -€46,680 | €868,790 | +€915,469 | |
| Income taxes | 67/77 | €47,071 | €10,673 | -€36,397 | -77.3% |
| Taxes | 670/3 | €100,317 | €10,673 | -€89,644 | -89.4% |
| Tax adjustments and reversals of tax provisions | 77 | €53,246 | - | -€53,246 | |
| Profit (loss) for the period | 9904 | -€93,750 | €858,117 | +€951,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€93,750 | €858,117 | +€951,867 |
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 27 October 2026 via checked.be.