KOPEGHY: 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.
KOPEGHY
Largest movements
- Tangible fixed assets -€18,225
down €18,225 (-2.9%), from €620,032 to €601,807
of which Land and buildings: -€18,025
- Cash -€14,211
down €14,211 (-47.2%), from €30,106 to €15,896
mainly Contributions, distributions and other (-€18,592) and Other debts (-€8,836)
- Receivables within one year -€8,848
no longer reported in 2025 (was €8,848)
- Contributions -€13,117
down €13,117 (-7.5%), from €174,765 to €161,648
- Reserves -€11,394
down €11,394 (-9.0%), from €125,945 to €114,551
of which Tax-exempt reserves: -€9,259
- Other debts -€8,836
down €8,836 (-3.1%), from €286,125 to €277,289
- Gross operating margin +€21,435
up €21,435, from -€10,599 to €10,836
- Depreciation -€4,129
down €4,129 (-25.7%), from €16,081 to €11,952
- Taxes +€1,456
new in 2025: €1,456
- Other operating charges +€329
up €329 (+5.0%), from €6,564 to €6,893
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 | €694,284 | €652,092 | -€42,192 | -6.1% |
| Fixed assets | 21/28 | €620,032 | €601,807 | -€18,225 | -2.9% |
| Tangible fixed assets | 22/27 | €620,032 | €601,807 | -€18,225 | -2.9% |
| Land and buildings | 22 | €619,090 | €601,065 | -€18,025 | -2.9% |
| Furniture and vehicles | 24 | €943 | €743 | -€200 | -21.2% |
| Current assets | 29/58 | €74,252 | €50,285 | -€23,967 | -32.3% |
| Stocks and contracts in progress | 3 | €33,176 | €33,176 | = | 0.0% |
| Stocks | 30/36 | €33,176 | €33,176 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,848 | - | -€8,848 | |
| Other amounts receivable | 41 | €8,848 | - | -€8,848 | |
| Cash at bank and in hand | 54/58 | €30,106 | €15,896 | -€14,211 | -47.2% |
| Deferred charges and accrued income | 490/1 | €2,122 | €1,213 | -€909 | -42.8% |
| Total equity and liabilities | 10/49 | €694,284 | €652,092 | -€42,192 | -6.1% |
| Equity | 10/15 | €345,217 | €321,827 | -€23,389 | -6.8% |
| Contributions | 10/11 | €174,765 | €161,648 | -€13,117 | -7.5% |
| Capital | 10 | €174,765 | €161,648 | -€13,117 | -7.5% |
| Issued capital | 100 | €174,765 | €161,648 | -€13,117 | -7.5% |
| Reserves | 13 | €125,945 | €114,551 | -€11,394 | -9.0% |
| Non-distributable reserves | 130/1 | €17,476 | €16,165 | -€1,312 | -7.5% |
| Legal reserve | 130 | €17,476 | €16,165 | -€1,312 | -7.5% |
| Tax-exempt reserves | 132 | €97,502 | €88,243 | -€9,259 | -9.5% |
| Distributable reserves | 133 | €10,967 | €10,144 | -€823 | -7.5% |
| Profit (loss) carried forward | 14 | €44,507 | €45,628 | +€1,121 | +2.5% |
| Provisions and deferred taxes | 16 | €50,222 | €45,453 | -€4,769 | -9.5% |
| Deferred taxes | 168 | €50,222 | €45,453 | -€4,769 | -9.5% |
| Amounts payable | 17/49 | €298,845 | €284,812 | -€14,033 | -4.7% |
| Amounts payable after more than one year | 17 | €7,065 | €7,065 | = | 0.0% |
| Other amounts payable | 178/9 | €7,065 | €7,065 | = | 0.0% |
| Amounts payable within one year | 42/48 | €291,780 | €277,747 | -€14,033 | -4.8% |
| Trade debts | 44 | €5,655 | €458 | -€5,197 | -91.9% |
| Suppliers | 440/4 | €5,655 | €458 | -€5,197 | -91.9% |
| Other amounts payable | 47/48 | €286,125 | €277,289 | -€8,836 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,081 | €11,952 | -€4,129 | -25.7% |
| Other operating charges | 640/8 | €6,564 | €6,893 | +€329 | +5.0% |
| Gross operating margin | 9900 | -€10,599 | €10,836 | +€21,435 | |
| Operating profit (loss) | 9901 | -€33,245 | -€8,010 | +€25,235 | +75.9% |
| Financial income | 75/76B | €2 | €3 | +€1 | +54.0% |
| Recurring financial income | 75 | €2 | €3 | +€1 | +54.0% |
| Financial charges | 65/66B | €106 | €103 | -€2 | -1.9% |
| Recurring financial charges | 65 | €106 | €103 | -€2 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | -€33,348 | -€8,111 | +€25,238 | +75.7% |
| Transfer from deferred taxes | 780 | - | €4,769 | +€4,769 | |
| Income taxes | 67/77 | - | €1,456 | +€1,456 | |
| Profit (loss) for the period | 9904 | -€33,348 | -€4,797 | +€28,551 | +85.6% |
| Transfer from tax-exempt reserves | 789 | - | €9,259 | +€9,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,348 | €4,462 | +€37,810 |
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 29 October 2026 via checked.be.