Eric Coppey: what changed
Eric Coppey
Largest movements
- Cash +€2.2m
up €2.2m (+4,499%), from €48,321 to €2.2m
mainly Net result for the year (+€1.9m) and Investment in fixed assets (net) (+€389,105)
- Financial fixed assets -€691,810
down €691,810 (-100%), from €691,810 to €0
- Tangible fixed assets +€294,588
up €294,588 (+1,175%), from €25,066 to €319,654
of which Land and buildings: +€299,909
- Reserves +€1.6m
up €1.6m (+226%), from €726,123 to €2.4m
of which Distributable reserves: +€1.6m
- Tax, wage and social debts +€186,979
up €186,979 (+2,193%), from €8,527 to €195,506
- Financial income +€2.1m
up €2.1m (+4,249%), from €49,968 to €2.2m
- Taxes +€175,684
up €175,684 (+904%), from €19,444 to €195,128
- Gross operating margin -€41,736
down €41,736 (-71.1%), from €58,708 to €16,972
- Other operating charges +€36,238
up €36,238 (+4,703%), from €771 to €37,009
- Financial charges -€979
down €979 (-78.3%), from €1,251 to €272
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €769,582 | €2,578,558 | +€1.8m | +235% |
| Fixed assets | 21/28 | €716,876 | €319,654 | -€397,222 | -55.4% |
| Tangible fixed assets | 22/27 | €25,066 | €319,654 | +€294,588 | +1,175% |
| Land and buildings | 22 | - | €299,909 | +€299,909 | |
| Furniture and vehicles | 24 | €25,066 | €19,745 | -€5,321 | -21.2% |
| Financial fixed assets | 28 | €691,810 | €0 | -€691,810 | -100% |
| Current assets | 29/58 | €52,706 | €2,258,904 | +€2.2m | +4,186% |
| Amounts receivable within one year | 40/41 | €3,540 | €17,343 | +€13,803 | +390% |
| Other amounts receivable | 41 | €3,540 | €17,343 | +€13,803 | +390% |
| Cash at bank and in hand | 54/58 | €48,321 | €2,222,222 | +€2.2m | +4,499% |
| Deferred charges and accrued income | 490/1 | €846 | €19,340 | +€18,494 | +2,187% |
| Total equity and liabilities | 10/49 | €769,582 | €2,578,558 | +€1.8m | +235% |
| Equity | 10/15 | €744,723 | €2,383,052 | +€1.6m | +220% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €726,123 | €2,364,452 | +€1.6m | +226% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €726,123 | €2,364,452 | +€1.6m | +226% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,859 | €195,506 | +€170,647 | +686% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €24,859 | €195,506 | +€170,647 | +686% |
| Current portion of amounts payable after more than one year | 42 | €15,208 | €0 | -€15,208 | -100% |
| Trade debts | 44 | €29 | €0 | -€29 | -100% |
| Suppliers | 440/4 | €29 | €0 | -€29 | -100% |
| Taxes, remuneration and social security | 45 | €8,527 | €195,506 | +€186,979 | +2,193% |
| Taxes | 450/3 | €8,527 | €195,506 | +€186,979 | +2,193% |
| Other amounts payable | 47/48 | €1,094 | €0 | -€1,094 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €7,200 | €0 | -€7,200 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,369 | €8,117 | +€748 | +10.2% |
| Other operating charges | 640/8 | €771 | €37,009 | +€36,238 | +4,703% |
| Gross operating margin | 9900 | €58,708 | €16,972 | -€41,736 | -71.1% |
| Operating profit (loss) | 9901 | €50,569 | -€28,153 | -€78,722 | |
| Financial income | 75/76B | €49,968 | €2,173,183 | +€2.1m | +4,249% |
| Recurring financial income | 75 | €49,968 | €2,173,183 | +€2.1m | +4,249% |
| Financial charges | 65/66B | €1,251 | €272 | -€979 | -78.3% |
| Recurring financial charges | 65 | €1,251 | €272 | -€979 | -78.3% |
| Profit (loss) for the period before taxes | 9903 | €99,286 | €2,144,758 | +€2.0m | +2,060% |
| Income taxes | 67/77 | €19,444 | €195,128 | +€175,684 | +904% |
| Profit (loss) for the period | 9904 | €79,841 | €1,949,630 | +€1.9m | +2,342% |
| Profit (loss) for the period to be appropriated | 9905 | €79,841 | €1,949,630 | +€1.9m | +2,342% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.