HEDWIG COPPE: what changed
HEDWIG COPPE
Largest movements
- Cash +€16,327
up €16,327 (+25.9%), from €62,952 to €79,279
mainly Advances received (+€6,853) and Net result for the year (+€5,751)
- Stocks and contracts +€3,972
up €3,972 (+15.4%), from €25,853 to €29,825
- Tangible fixed assets -€2,842
down €2,842 (-9.6%), from €29,737 to €26,895
of which Other tangible fixed assets: -€2,335
- Receivables within one year +€2,392
up €2,392 (+234%), from €1,023 to €3,416
of which Other amounts receivable: +€2,881
- Advances received +€6,853
new in 2025: €6,853
- Reserves +€5,751
up €5,751 (+22.1%), from €26,020 to €31,771
- Trade debts +€3,416
up €3,416 (+130%), from €2,635 to €6,050
- Tax, wage and social debts +€2,510
up €2,510 (+29.7%), from €8,460 to €10,969
of which Taxes: +€3,304
- Other debts +€1,472
up €1,472 (+6.8%), from €21,768 to €23,240
- Gross operating margin -€6,457
down €6,457 (-10.8%), from €59,526 to €53,069
- Taxes -€1,686
down €1,686 (-30.9%), from €5,458 to €3,772
- Depreciation -€910
down €910 (-15.4%), from €5,900 to €4,991
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 | €120,382 | €140,383 | +€20,002 | +16.6% |
| Fixed assets | 21/28 | €29,737 | €26,895 | -€2,842 | -9.6% |
| Tangible fixed assets | 22/27 | €29,737 | €26,895 | -€2,842 | -9.6% |
| Land and buildings | 22 | €8,176 | €6,757 | -€1,419 | -17.4% |
| Plant, machinery and equipment | 23 | €1,236 | €1,021 | -€214 | -17.3% |
| Furniture and vehicles | 24 | - | €1,126 | +€1,126 | |
| Other tangible fixed assets | 26 | €20,326 | €17,991 | -€2,335 | -11.5% |
| Current assets | 29/58 | €90,645 | €113,488 | +€22,844 | +25.2% |
| Stocks and contracts in progress | 3 | €25,853 | €29,825 | +€3,972 | +15.4% |
| Stocks | 30/36 | €25,853 | €29,825 | +€3,972 | +15.4% |
| Amounts receivable within one year | 40/41 | €1,023 | €3,416 | +€2,392 | +234% |
| Trade receivables | 40 | €488 | - | -€488 | |
| Other amounts receivable | 41 | €535 | €3,416 | +€2,881 | +539% |
| Cash at bank and in hand | 54/58 | €62,952 | €79,279 | +€16,327 | +25.9% |
| Deferred charges and accrued income | 490/1 | €816 | €969 | +€153 | +18.7% |
| Total equity and liabilities | 10/49 | €120,382 | €140,383 | +€20,002 | +16.6% |
| Equity | 10/15 | €87,519 | €93,270 | +€5,751 | +6.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €26,020 | €31,771 | +€5,751 | +22.1% |
| Distributable reserves | 133 | €26,020 | €31,771 | +€5,751 | +22.1% |
| Profit (loss) carried forward | 14 | €42,907 | €42,907 | = | 0.0% |
| Amounts payable | 17/49 | €32,862 | €47,113 | +€14,251 | +43.4% |
| Amounts payable within one year | 42/48 | €32,862 | €47,113 | +€14,251 | +43.4% |
| Trade debts | 44 | €2,635 | €6,050 | +€3,416 | +130% |
| Suppliers | 440/4 | €2,635 | €6,050 | +€3,416 | +130% |
| Advances received on contracts in progress | 46 | - | €6,853 | +€6,853 | |
| Taxes, remuneration and social security | 45 | €8,460 | €10,969 | +€2,510 | +29.7% |
| Taxes | 450/3 | €2,587 | €5,891 | +€3,304 | +128% |
| Remuneration and social security | 454/9 | €5,873 | €5,078 | -€795 | -13.5% |
| Other amounts payable | 47/48 | €21,768 | €23,240 | +€1,472 | +6.8% |
| Remuneration, social security and pensions | 62 | €37,164 | €37,222 | +€58 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,900 | €4,991 | -€910 | -15.4% |
| Other operating charges | 640/8 | €482 | €709 | +€228 | +47.3% |
| Gross operating margin | 9900 | €59,526 | €53,069 | -€6,457 | -10.8% |
| Operating profit (loss) | 9901 | €15,980 | €10,147 | -€5,833 | -36.5% |
| Financial income | 75/76B | €590 | €488 | -€102 | -17.2% |
| Recurring financial income | 75 | €590 | €488 | -€102 | -17.2% |
| Financial charges | 65/66B | €1,187 | €1,113 | -€74 | -6.2% |
| Recurring financial charges | 65 | €1,187 | €1,113 | -€74 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €15,383 | €9,523 | -€5,861 | -38.1% |
| Income taxes | 67/77 | €5,458 | €3,772 | -€1,686 | -30.9% |
| Profit (loss) for the period | 9904 | €9,926 | €5,751 | -€4,175 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,926 | €5,751 | -€4,175 | -42.1% |
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.