IVAN COPPENS: 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.
IVAN COPPENS
Largest movements
- Cash +€133,058
up €133,058 (+38.9%), from €341,817 to €474,875
mainly Net result for the year (+€184,412) and Current investments (+€117,658)
- Current investments -€117,658
down €117,658 (-26.9%), from €437,657 to €319,999
- Receivables after one year -€101,696
down €101,696 (-100.0%), from €101,696 to €0
- Tangible fixed assets +€101,148
up €101,148 (+15.3%), from €662,071 to €763,219
of which Land and buildings: +€75,066
- Receivables within one year +€96,153
up €96,153 (+66.0%), from €145,726 to €241,879
of which Trade receivables: +€110,147
- Other debts +€35,372
up €35,372 (+456.8%), from €7,743 to €43,115
- Reserves +€30,000
up €30,000 (+1.9%), from €1.6m to €1.6m
of which Distributable reserves: +€30,000
- Tax, wage and social debts +€24,847
up €24,847 (+52.3%), from €47,476 to €72,323
of which Taxes: +€22,048
- Trade debts +€18,297
up €18,297 (+383.1%), from €4,776 to €23,073
- Gross operating margin +€141,595
up €141,595 (+65.2%), from €217,184 to €358,779
- Financial income +€35,705
up €35,705 (+318.8%), from €11,199 to €46,904
- Taxes +€32,027
up €32,027 (+74.1%), from €43,198 to €75,225
- Other operating charges -€22,513
down €22,513 (-86.3%), from €26,089 to €3,576
- Staff costs +€6,289
up €6,289 (+9.7%), from €65,110 to €71,399
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 | €1,690,773 | €1,800,201 | +€109,428 | +6.5% |
| Fixed assets | 21/28 | €662,071 | €763,219 | +€101,148 | +15.3% |
| Tangible fixed assets | 22/27 | €662,071 | €763,219 | +€101,148 | +15.3% |
| Land and buildings | 22 | €645,247 | €720,313 | +€75,066 | +11.6% |
| Plant, machinery and equipment | 23 | €2,365 | €1,396 | -€969 | -41.0% |
| Furniture and vehicles | 24 | €1,265 | €316 | -€949 | -75.0% |
| Other tangible fixed assets | 26 | €13,194 | €41,194 | +€28,000 | +212.2% |
| Current assets | 29/58 | €1,028,702 | €1,036,982 | +€8,280 | +0.8% |
| Amounts receivable after more than one year | 29 | €101,696 | €0 | -€101,696 | -100.0% |
| Other amounts receivable | 291 | €101,696 | €0 | -€101,696 | -100.0% |
| Amounts receivable within one year | 40/41 | €145,726 | €241,879 | +€96,153 | +66.0% |
| Trade receivables | 40 | €121,688 | €231,834 | +€110,147 | +90.5% |
| Other amounts receivable | 41 | €24,038 | €10,045 | -€13,994 | -58.2% |
| Current investments | 50/53 | €437,657 | €319,999 | -€117,658 | -26.9% |
| Cash at bank and in hand | 54/58 | €341,817 | €474,875 | +€133,058 | +38.9% |
| Deferred charges and accrued income | 490/1 | €1,806 | €228 | -€1,577 | -87.4% |
| Total equity and liabilities | 10/49 | €1,690,773 | €1,800,201 | +€109,428 | +6.5% |
| Equity | 10/15 | €1,630,777 | €1,661,689 | +€30,912 | +1.9% |
| Contributions | 10/11 | €12,397 | €12,397 | = | 0.0% |
| Reserves | 13 | €1,617,046 | €1,647,046 | +€30,000 | +1.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,187 | €22,187 | = | 0.0% |
| Distributable reserves | 133 | €1,593,000 | €1,623,000 | +€30,000 | +1.9% |
| Profit (loss) carried forward | 14 | €1,334 | €2,245 | +€912 | +68.4% |
| Amounts payable | 17/49 | €59,995 | €138,512 | +€78,516 | +130.9% |
| Amounts payable within one year | 42/48 | €59,995 | €138,512 | +€78,516 | +130.9% |
| Trade debts | 44 | €4,776 | €23,073 | +€18,297 | +383.1% |
| Suppliers | 440/4 | €4,776 | €23,073 | +€18,297 | +383.1% |
| Taxes, remuneration and social security | 45 | €47,476 | €72,323 | +€24,847 | +52.3% |
| Taxes | 450/3 | €37,869 | €59,917 | +€22,048 | +58.2% |
| Remuneration and social security | 454/9 | €9,607 | €12,406 | +€2,800 | +29.1% |
| Other amounts payable | 47/48 | €7,743 | €43,115 | +€35,372 | +456.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €65,110 | €71,399 | +€6,289 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,081 | €70,867 | -€5,215 | -6.9% |
| Other operating charges | 640/8 | €26,089 | €3,576 | -€22,513 | -86.3% |
| Gross operating margin | 9900 | €217,184 | €358,779 | +€141,595 | +65.2% |
| Operating profit (loss) | 9901 | €49,904 | €212,938 | +€163,034 | +326.7% |
| Financial income | 75/76B | €11,199 | €46,904 | +€35,705 | +318.8% |
| Recurring financial income | 75 | €11,199 | €46,904 | +€35,705 | +318.8% |
| Financial charges | 65/66B | €320 | €205 | -€115 | -35.9% |
| Recurring financial charges | 65 | €320 | €205 | -€115 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €60,783 | €259,637 | +€198,853 | +327.2% |
| Income taxes | 67/77 | €43,198 | €75,225 | +€32,027 | +74.1% |
| Profit (loss) for the period | 9904 | €17,585 | €184,412 | +€166,827 | +948.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,585 | €184,412 | +€166,827 | +948.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.