Dr Florence COPPIN: 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.
Dr Florence COPPIN
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€91,417
down €91,417 (-43.0%), from €212,836 to €121,419
mainly Contributions, distributions and other (-€418,809) and Current investments (-€100,000)
- Tangible fixed assets +€21,940
up €21,940 (+3.1%), from €698,667 to €720,607
of which Plant, machinery and equipment: +€13,878
- Other debts +€315,874
up €315,874 (+9,494%), from €3,327 to €319,201
- Reserves -€288,278
down €288,278 (-44.1%), from €653,713 to €365,435
- Debts after one year -€25,737
down €25,737 (-27.6%), from €93,328 to €67,591
- Current portion of long-term debt +€13,574
up €13,574 (+18.7%), from €72,655 to €86,229
- Tax, wage and social debts +€9,716
up €9,716 (+19.5%), from €49,809 to €59,524
- Gross operating margin -€3,790
down €3,790 (-1.5%), from €260,396 to €256,606
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 | €926,814 | €951,797 | +€24,983 | +2.7% |
| Fixed assets | 21/28 | €698,667 | €720,607 | +€21,940 | +3.1% |
| Tangible fixed assets | 22/27 | €698,667 | €720,607 | +€21,940 | +3.1% |
| Land and buildings | 22 | €647,314 | €659,462 | +€12,148 | +1.9% |
| Plant, machinery and equipment | 23 | €17,420 | €31,298 | +€13,878 | +79.7% |
| Furniture and vehicles | 24 | €33,933 | €29,847 | -€4,086 | -12.0% |
| Current assets | 29/58 | €228,147 | €231,190 | +€3,043 | +1.3% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €212,836 | €121,419 | -€91,417 | -43.0% |
| Deferred charges and accrued income | 490/1 | €15,311 | €9,771 | -€5,539 | -36.2% |
| Total equity and liabilities | 10/49 | €926,814 | €951,797 | +€24,983 | +2.7% |
| Equity | 10/15 | €687,832 | €399,554 | -€288,278 | -41.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €653,713 | €365,435 | -€288,278 | -44.1% |
| Distributable reserves | 133 | €653,713 | €365,435 | -€288,278 | -44.1% |
| Profit (loss) carried forward | 14 | €13,659 | €13,659 | = | 0.0% |
| Provisions and deferred taxes | 16 | €12,216 | €12,216 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €12,216 | €12,216 | = | 0.0% |
| Environmental obligations | 163 | €12,216 | €12,216 | = | 0.0% |
| Amounts payable | 17/49 | €226,767 | €540,027 | +€313,261 | +138% |
| Amounts payable after more than one year | 17 | €93,328 | €67,591 | -€25,737 | -27.6% |
| Financial debts | 170/4 | €93,328 | €67,591 | -€25,737 | -27.6% |
| Amounts payable within one year | 42/48 | €130,229 | €469,252 | +€339,024 | +260% |
| Current portion of amounts payable after more than one year | 42 | €72,655 | €86,229 | +€13,574 | +18.7% |
| Trade debts | 44 | €4,438 | €4,298 | -€140 | -3.2% |
| Suppliers | 440/4 | €4,438 | €4,298 | -€140 | -3.2% |
| Taxes, remuneration and social security | 45 | €49,809 | €59,524 | +€9,716 | +19.5% |
| Taxes | 450/3 | €49,809 | €59,524 | +€9,716 | +19.5% |
| Other amounts payable | 47/48 | €3,327 | €319,201 | +€315,874 | +9,494% |
| Accrued charges and deferred income | 492/3 | €3,210 | €3,183 | -€26 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,345 | €50,596 | -€750 | -1.5% |
| Other operating charges | 640/8 | €3,378 | €4,591 | +€1,213 | +35.9% |
| Gross operating margin | 9900 | €260,396 | €256,606 | -€3,790 | -1.5% |
| Operating profit (loss) | 9901 | €205,672 | €201,420 | -€4,253 | -2.1% |
| Financial income | 75/76B | - | €102 | +€102 | |
| Recurring financial income | 75 | - | €102 | +€102 | |
| Financial charges | 65/66B | €6,203 | €5,889 | -€314 | -5.1% |
| Recurring financial charges | 65 | €6,203 | €5,889 | -€314 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €199,469 | €195,632 | -€3,837 | -1.9% |
| Income taxes | 67/77 | €65,913 | €65,101 | -€812 | -1.2% |
| Profit (loss) for the period | 9904 | €133,556 | €130,531 | -€3,025 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €133,556 | €130,531 | -€3,025 | -2.3% |
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 24 October 2026 via checked.be.