Immo Copernicus: what changed
Two fiscal 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.
Immo Copernicus
Largest movements
- Tangible fixed assets -€1.2m
down €1.2m (-3.5%), from €34.6m to €33.4m
- Receivables within one year -€559,363
down €559,363 (-38.0%), from €1.5m to €912,764
- Short-term financial debts +€1.3m
up €1.3m (+20.0%), from €6.5m to €7.8m
of which Other loans: +€7.8m
- Debts after one year -€1.1m
down €1.1m (-5.4%), from €20.3m to €19.2m
- Other debts -€915,005
down €915,005 (-49.9%), from €1.8m to €919,085
- Profit (loss) carried forward -€875,892
down €875,892 (-88.8%), from -€986,559 to -€1.9m
- Trade debts -€567,932
down €567,932 (-54.3%), from €1.0m to €478,006
- Gross operating margin -€1.8m
down €1.8m (-43.9%), from €4.2m to €2.3m
- Financial charges -€866,114
down €866,114 (-43.4%), from €2.0m to €1.1m
- Depreciation -€715,702
down €715,702 (-37.3%), from €1.9m to €1.2m
- Other operating charges -€361,380
down €361,380 (-29.1%), from €1.2m to €879,397
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.
Cash bridge derived
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 | €38,126,837 | €36,157,332 | -€2.0m | -5.2% |
| Fixed assets | 21/28 | €34,560,250 | €33,356,418 | -€1.2m | -3.5% |
| Tangible fixed assets | 22/27 | €34,560,250 | €33,356,418 | -€1.2m | -3.5% |
| Land and buildings | 22 | €34,560,250 | €33,356,418 | -€1.2m | -3.5% |
| Current assets | 29/58 | €3,566,588 | €2,800,914 | -€765,674 | -21.5% |
| Amounts receivable within one year | 40/41 | €1,472,127 | €912,764 | -€559,363 | -38.0% |
| Trade receivables | 40 | €1,472,127 | €912,764 | -€559,363 | -38.0% |
| Cash at bank and in hand | 54/58 | €629,478 | €674,405 | +€44,926 | +7.1% |
| Deferred charges and accrued income | 490/1 | €1,464,982 | €1,213,746 | -€251,237 | -17.1% |
| Total equity and liabilities | 10/49 | €38,126,837 | €36,157,332 | -€2.0m | -5.2% |
| Equity | 10/15 | €6,513,441 | €5,637,549 | -€875,892 | -13.4% |
| Contributions | 10/11 | €7,500,000 | €7,500,000 | = | 0.0% |
| Capital | 10 | €7,500,000 | €7,500,000 | = | 0.0% |
| Issued capital | 100 | €7,500,000 | €7,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€986,559 | -€1,862,451 | -€875,892 | -88.8% |
| Amounts payable | 17/49 | €31,613,396 | €30,519,783 | -€1.1m | -3.5% |
| Amounts payable after more than one year | 17 | €20,324,402 | €19,217,258 | -€1.1m | -5.4% |
| Financial debts | 170/4 | €20,324,402 | €19,217,258 | -€1.1m | -5.4% |
| Amounts payable within one year | 42/48 | €10,692,453 | €10,511,813 | -€180,639 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €1,107,144 | €1,107,144 | = | 0.0% |
| Financial debts | 43 | €6,518,790 | €7,821,087 | +€1.3m | +20.0% |
| Credit institutions | 430/8 | €6,518,790 | - | -€6.5m | |
| Other loans | 439 | - | €7,821,087 | +€7.8m | |
| Trade debts | 44 | €1,045,938 | €478,006 | -€567,932 | -54.3% |
| Suppliers | 440/4 | €1,045,938 | €478,006 | -€567,932 | -54.3% |
| Advances received on contracts in progress | 46 | €186,491 | €186,491 | = | 0.0% |
| Other amounts payable | 47/48 | €1,834,090 | €919,085 | -€915,005 | -49.9% |
| Accrued charges and deferred income | 492/3 | €596,541 | €790,712 | +€194,170 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,919,534 | €1,203,831 | -€715,702 | -37.3% |
| Other operating charges | 640/8 | €1,240,777 | €879,397 | -€361,380 | -29.1% |
| Gross operating margin | 9900 | €4,170,816 | €2,338,287 | -€1.8m | -43.9% |
| Operating profit (loss) | 9901 | €1,010,505 | €255,058 | -€755,447 | -74.8% |
| Financial charges | 65/66B | €1,997,064 | €1,130,950 | -€866,114 | -43.4% |
| Recurring financial charges | 65 | €1,997,064 | €1,130,950 | -€866,114 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | -€986,559 | -€875,892 | +€110,667 | +11.2% |
| Profit (loss) for the period | 9904 | -€986,559 | -€875,892 | +€110,667 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€986,559 | -€875,892 | +€110,667 | +11.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.