KOPJE COPY: 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.
KOPJE COPY
Largest movements
- Current investments +€117,241
new in 2025: €117,241
- Tangible fixed assets -€103,399
down €103,399 (-99.4%), from €103,998 to €599
of which Land and buildings: -€102,787
- Cash +€43,081
up €43,081 (+524%), from €8,218 to €51,299
mainly Investment in fixed assets (net) (+€102,787) and Net result for the year (+€67,388)
- Receivables within one year +€7,997
up €7,997 (+67.7%), from €11,808 to €19,805
of which Other amounts receivable: +€10,350
- Reserves +€67,388
up €67,388 (+250%), from €26,975 to €94,363
of which Distributable reserves: +€67,388
- Gross operating margin +€59,728
up €59,728 (+325%), from €18,389 to €78,117
- Depreciation -€2,889
down €2,889 (-82.5%), from €3,501 to €612
- Other operating charges +€1,741
up €1,741 (+74.0%), from €2,351 to €4,092
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 | €136,381 | €201,635 | +€65,254 | +47.8% |
| Fixed assets | 21/28 | €103,998 | €599 | -€103,399 | -99.4% |
| Tangible fixed assets | 22/27 | €103,998 | €599 | -€103,399 | -99.4% |
| Land and buildings | 22 | €102,787 | €0 | -€102,787 | -100% |
| Plant, machinery and equipment | 23 | €463 | €346 | -€117 | -25.3% |
| Furniture and vehicles | 24 | €749 | €253 | -€495 | -66.2% |
| Current assets | 29/58 | €32,383 | €201,036 | +€168,654 | +521% |
| Amounts receivable after more than one year | 29 | €9,000 | €9,000 | = | 0.0% |
| Other amounts receivable | 291 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,808 | €19,805 | +€7,997 | +67.7% |
| Trade receivables | 40 | €4,428 | €2,076 | -€2,352 | -53.1% |
| Other amounts receivable | 41 | €7,379 | €17,729 | +€10,350 | +140% |
| Current investments | 50/53 | - | €117,241 | +€117,241 | |
| Cash at bank and in hand | 54/58 | €8,218 | €51,299 | +€43,081 | +524% |
| Deferred charges and accrued income | 490/1 | €3,357 | €3,691 | +€334 | +9.9% |
| Total equity and liabilities | 10/49 | €136,381 | €201,635 | +€65,254 | +47.8% |
| Equity | 10/15 | €45,575 | €112,963 | +€67,388 | +148% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,975 | €94,363 | +€67,388 | +250% |
| Tax-exempt reserves | 132 | €4,037 | €4,037 | = | 0.0% |
| Distributable reserves | 133 | €22,938 | €90,326 | +€67,388 | +294% |
| Provisions and deferred taxes | 16 | €80,135 | €80,135 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €80,135 | €80,135 | = | 0.0% |
| Pensions and similar obligations | 160 | €80,135 | €80,135 | = | 0.0% |
| Amounts payable | 17/49 | €10,671 | €8,537 | -€2,134 | -20.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €10,560 | €8,434 | -€2,126 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,705 | €0 | -€1,705 | -100% |
| Credit institutions | 430/8 | €1,705 | €0 | -€1,705 | -100% |
| Trade debts | 44 | €2,655 | €3,081 | +€426 | +16.1% |
| Suppliers | 440/4 | €2,655 | €3,081 | +€426 | +16.1% |
| Taxes, remuneration and social security | 45 | €6,200 | €5,353 | -€847 | -13.7% |
| Taxes | 450/3 | €6,200 | €5,353 | -€847 | -13.7% |
| Accrued charges and deferred income | 492/3 | €111 | €103 | -€8 | -7.0% |
| Non-recurring operating income | 76A | - | €92,213 | +€92,213 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,501 | €612 | -€2,889 | -82.5% |
| Other operating charges | 640/8 | €2,351 | €4,092 | +€1,741 | +74.0% |
| Non-recurring operating charges | 66A | €1,344 | €0 | -€1,344 | -100% |
| Gross operating margin | 9900 | €18,389 | €78,117 | +€59,728 | +325% |
| Operating profit (loss) | 9901 | €11,192 | €73,412 | +€62,220 | +556% |
| Financial income | 75/76B | €709 | €1,088 | +€379 | +53.5% |
| Recurring financial income | 75 | €709 | €1,088 | +€379 | +53.5% |
| Financial charges | 65/66B | €334 | €208 | -€126 | -37.6% |
| Recurring financial charges | 65 | €334 | €208 | -€126 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €11,567 | €74,292 | +€62,725 | +542% |
| Income taxes | 67/77 | €6,582 | €6,904 | +€322 | +4.9% |
| Profit (loss) for the period | 9904 | €4,985 | €67,388 | +€62,403 | +1,252% |
| Profit (loss) for the period to be appropriated | 9905 | €4,985 | €67,388 | +€62,403 | +1,252% |
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 1 November 2026 via checked.be.