DW Copper: 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.
DW Copper
Largest movements
- Stocks and contracts -€1.3m
down €1.3m (-23.7%), from €5.5m to €4.2m
- Receivables after one year +€200,000
up €200,000 (+200%), from €100,000 to €300,000
- Current investments -€200,000
down €200,000 (-40.0%), from €500,000 to €300,000
- Tangible fixed assets -€136,892
down €136,892 (-9.6%), from €1.4m to €1.3m
of which Furniture and vehicles: -€69,976
- Cash +€115,330
up €115,330 (+23.3%), from €494,348 to €609,678
mainly Stocks and contracts (+€1.3m) and Short-term financial debts (+€1.0m)
- Trade debts -€1.7m
down €1.7m (-64.2%), from €2.6m to €945,812
- Debts after one year -€1.6m
down €1.6m (-70.7%), from €2.3m to €675,044
of which Other amounts payable: -€1.5m
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Reserves +€767,135
up €767,135 (+16.1%), from €4.8m to €5.5m
of which Distributable reserves: +€885,015
- Tax, wage and social debts +€169,592
up €169,592 (+404%), from €41,932 to €211,525
of which Taxes: +€173,186
- Gross operating margin -€84,358
down €84,358 (-4.7%), from €1.8m to €1.7m
- Financial income +€32,649
up €32,649 (+261%), from €12,499 to €45,148
- Staff costs +€26,057
up €26,057 (+12.2%), from €213,911 to €239,968
- Taxes +€20,351
up €20,351 (+5.8%), from €351,661 to €372,013
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 | €9,991,814 | €8,610,911 | -€1.4m | -13.8% |
| Fixed assets | 21/28 | €1,591,879 | €1,527,088 | -€64,791 | -4.1% |
| Tangible fixed assets | 22/27 | €1,431,525 | €1,294,633 | -€136,892 | -9.6% |
| Land and buildings | 22 | €1,121,090 | €1,061,347 | -€59,743 | -5.3% |
| Plant, machinery and equipment | 23 | €28,957 | €21,784 | -€7,173 | -24.8% |
| Furniture and vehicles | 24 | €266,478 | €196,502 | -€69,976 | -26.3% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €15,000 | €15,000 | = | 0.0% |
| Financial fixed assets | 28 | €160,354 | €232,455 | +€72,101 | +45.0% |
| Current assets | 29/58 | €8,399,935 | €7,083,823 | -€1.3m | -15.7% |
| Amounts receivable after more than one year | 29 | €100,000 | €300,000 | +€200,000 | +200% |
| Other amounts receivable | 291 | €100,000 | €300,000 | +€200,000 | +200% |
| Stocks and contracts in progress | 3 | €5,535,631 | €4,220,926 | -€1.3m | -23.7% |
| Stocks | 30/36 | €5,535,631 | €4,220,926 | -€1.3m | -23.7% |
| Amounts receivable within one year | 40/41 | €1,763,947 | €1,649,005 | -€114,941 | -6.5% |
| Trade receivables | 40 | €1,488,417 | €1,640,939 | +€152,522 | +10.2% |
| Other amounts receivable | 41 | €275,529 | €8,066 | -€267,463 | -97.1% |
| Current investments | 50/53 | €500,000 | €300,000 | -€200,000 | -40.0% |
| Cash at bank and in hand | 54/58 | €494,348 | €609,678 | +€115,330 | +23.3% |
| Deferred charges and accrued income | 490/1 | €6,009 | €4,213 | -€1,796 | -29.9% |
| Total equity and liabilities | 10/49 | €9,991,814 | €8,610,911 | -€1.4m | -13.8% |
| Equity | 10/15 | €4,885,586 | €5,652,722 | +€767,135 | +15.7% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €4,766,986 | €5,534,122 | +€767,135 | +16.1% |
| Tax-exempt reserves | 132 | €663,075 | €545,195 | -€117,880 | -17.8% |
| Distributable reserves | 133 | €4,103,911 | €4,988,927 | +€885,015 | +21.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €5,106,228 | €2,958,189 | -€2.1m | -42.1% |
| Amounts payable after more than one year | 17 | €2,300,852 | €675,044 | -€1.6m | -70.7% |
| Financial debts | 170/4 | €800,852 | €675,044 | -€125,808 | -15.7% |
| Other amounts payable | 178/9 | €1,500,000 | €0 | -€1.5m | -100% |
| Amounts payable within one year | 42/48 | €2,805,376 | €2,283,145 | -€522,230 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €123,861 | €125,808 | +€1,947 | +1.6% |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Other loans | 439 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €2,639,582 | €945,812 | -€1.7m | -64.2% |
| Suppliers | 440/4 | €2,639,582 | €945,812 | -€1.7m | -64.2% |
| Taxes, remuneration and social security | 45 | €41,932 | €211,525 | +€169,592 | +404% |
| Taxes | 450/3 | €8,941 | €182,127 | +€173,186 | +1,937% |
| Remuneration and social security | 454/9 | €32,991 | €29,398 | -€3,593 | -10.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €5,783 | €0 | -€5,783 | -100% |
| Remuneration, social security and pensions | 62 | €213,911 | €239,968 | +€26,057 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,802 | €145,555 | +€10,753 | +8.0% |
| Other operating charges | 640/8 | €12,676 | €12,815 | +€139 | +1.1% |
| Non-recurring operating charges | 66A | €12,883 | €14,470 | +€1,587 | +12.3% |
| Gross operating margin | 9900 | €1,783,922 | €1,699,563 | -€84,358 | -4.7% |
| Operating profit (loss) | 9901 | €1,409,650 | €1,286,756 | -€122,895 | -8.7% |
| Financial income | 75/76B | €12,499 | €45,148 | +€32,649 | +261% |
| Recurring financial income | 75 | €12,499 | €45,148 | +€32,649 | +261% |
| Financial charges | 65/66B | €184,901 | €192,755 | +€7,854 | +4.2% |
| Recurring financial charges | 65 | €184,901 | €192,755 | +€7,854 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €1,237,248 | €1,139,148 | -€98,099 | -7.9% |
| Income taxes | 67/77 | €351,661 | €372,013 | +€20,351 | +5.8% |
| Profit (loss) for the period | 9904 | €885,586 | €767,135 | -€118,451 | -13.4% |
| Transfer from tax-exempt reserves | 789 | €0 | €117,880 | +€117,880 | |
| Transfer to tax-exempt reserves | 689 | €410,475 | €0 | -€410,475 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €475,111 | €885,015 | +€409,904 | +86.3% |
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 27 October 2026 via checked.be.