KOPPEN.BE: what changed
What changed
KOPPEN.BE
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
€464,727
2024 · €496,850-€32,123
Equity
€2.2m
2024 · €1.7m+€461,995
Cash
€762,121
2024 · €844,417-€82,295
Balance sheet total
€2.5m
2024 · €2.3m+€195,800
Largest movements
Assets
- Stocks and contracts +€105,148
up €105,148 (+28.5%), from €369,453 to €474,601
of which Contracts in progress: +€56,400
- Receivables within one year +€91,378
up €91,378 (+10.4%), from €878,086 to €969,464
of which Trade receivables: +€90,149
- Current investments +€86,482
up €86,482 (+104%), from €83,330 to €169,812
- Cash -€82,295
down €82,295 (-9.7%), from €844,417 to €762,121
mainly Other debts (-€265,927) and Stocks and contracts (-€105,148)
Equity and liabilities
- Reserves +€494,618
up €494,618 (+37.3%), from €1.3m to €1.8m
of which Distributable reserves: +€347,268
- Other debts -€265,927
down €265,927 (-59.5%), from €447,246 to €181,318
- Trade debts +€70,587
up €70,587 (+110%), from €64,069 to €134,656
- Tax, wage and social debts -€64,573
down €64,573 (-58.3%), from €110,819 to €46,246
of which Remuneration and social security: -€59,134
- Profit (loss) carried forward -€32,623
down €32,623 (-89.6%), from €36,397 to €3,773
Income statement
- Staff costs +€109,187
up €109,187 (+9.1%), from €1.2m to €1.3m
- Gross operating margin +€44,503
up €44,503 (+2.3%), from €2.0m to €2.0m
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.
Result 2024
€496,850
Gross operating margin
+€44,503
Staff costs
-€109,187
Depreciation
+€5,125
Write-downs
-€2,001
Other operating charges
+€6,419
Financial income
+€7,562
Financial charges
+€1,867
Taxes
+€13,588
Result 2025
€464,727
raises the resultlowers the result
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.
From operations
+€63,687
Investment
-€136,969
Financing
-€9,013
Cash 2024
€844,417
From operations (derived)
+€63,687
Net result for the year
+€464,727
Depreciation
+€58,054
Stocks and contracts
-€105,148
Receivables within one year
-€91,378
Deferred charges and accrued income
-€2,654
Trade debts
+€70,587
Tax, wage and social debts
-€64,573
Other debts
-€265,927
Investment (derived)
-€136,969
Investment in fixed assets (net)
-€50,487
Current investments
-€86,482
Financing
-€9,013
Current portion of long-term debt
-€6,281
Contributions, distributions and other
-€2,732
Cash 2025
€762,121
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,338,944 | €2,534,743 | +€195,800 | +8.4% |
| Fixed assets | 21/28 | €149,906 | €142,339 | -€7,567 | -5.0% |
| Intangible fixed assets | 21 | €201 | €1,516 | +€1,315 | +655% |
| Tangible fixed assets | 22/27 | €134,445 | €132,993 | -€1,453 | -1.1% |
| Land and buildings | 22 | €3,975 | €2,650 | -€1,325 | -33.3% |
| Plant, machinery and equipment | 23 | €34,061 | €39,989 | +€5,928 | +17.4% |
| Furniture and vehicles | 24 | €96,409 | €90,354 | -€6,055 | -6.3% |
| Financial fixed assets | 28 | €15,260 | €7,831 | -€7,429 | -48.7% |
| Current assets | 29/58 | €2,189,037 | €2,392,404 | +€203,367 | +9.3% |
| Stocks and contracts in progress | 3 | €369,453 | €474,601 | +€105,148 | +28.5% |
| Stocks | 30/36 | €185,037 | €233,785 | +€48,748 | +26.3% |
| Contracts in progress | 37 | €184,416 | €240,816 | +€56,400 | +30.6% |
| Amounts receivable within one year | 40/41 | €878,086 | €969,464 | +€91,378 | +10.4% |
| Trade receivables | 40 | €670,133 | €760,282 | +€90,149 | +13.5% |
| Other amounts receivable | 41 | €207,953 | €209,182 | +€1,229 | +0.6% |
| Current investments | 50/53 | €83,330 | €169,812 | +€86,482 | +104% |
| Cash at bank and in hand | 54/58 | €844,417 | €762,121 | -€82,295 | -9.7% |
| Deferred charges and accrued income | 490/1 | €13,752 | €16,406 | +€2,654 | +19.3% |
| Total equity and liabilities | 10/49 | €2,338,944 | €2,534,743 | +€195,800 | +8.4% |
| Equity | 10/15 | €1,710,528 | €2,172,523 | +€461,995 | +27.0% |
| Contributions | 10/11 | €347,500 | €347,500 | = | 0.0% |
| Reserves | 13 | €1,326,632 | €1,821,250 | +€494,618 | +37.3% |
| Non-distributable reserves | 130/1 | €15,350 | €15,350 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,350 | €15,350 | = | 0.0% |
| Tax-exempt reserves | 132 | €332,590 | €479,940 | +€147,350 | +44.3% |
| Distributable reserves | 133 | €978,692 | €1,325,960 | +€347,268 | +35.5% |
| Profit (loss) carried forward | 14 | €36,397 | €3,773 | -€32,623 | -89.6% |
| Amounts payable | 17/49 | €628,415 | €362,220 | -€266,195 | -42.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €628,415 | €362,220 | -€266,195 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €6,281 | €0 | -€6,281 | -100% |
| Trade debts | 44 | €64,069 | €134,656 | +€70,587 | +110% |
| Suppliers | 440/4 | €64,069 | €134,656 | +€70,587 | +110% |
| Taxes, remuneration and social security | 45 | €110,819 | €46,246 | -€64,573 | -58.3% |
| Taxes | 450/3 | €8,841 | €3,402 | -€5,439 | -61.5% |
| Remuneration and social security | 454/9 | €101,978 | €42,843 | -€59,134 | -58.0% |
| Other amounts payable | 47/48 | €447,246 | €181,318 | -€265,927 | -59.5% |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100% |
| Remuneration, social security and pensions | 62 | €1,205,428 | €1,314,615 | +€109,187 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,179 | €58,054 | -€5,125 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €504 | €2,505 | +€2,001 | +397% |
| Other operating charges | 640/8 | €24,988 | €18,569 | -€6,419 | -25.7% |
| Gross operating margin | 9900 | €1,973,877 | €2,018,380 | +€44,503 | +2.3% |
| Operating profit (loss) | 9901 | €679,777 | €624,637 | -€55,140 | -8.1% |
| Financial income | 75/76B | €10,400 | €17,961 | +€7,562 | +72.7% |
| Recurring financial income | 75 | €10,400 | €17,961 | +€7,562 | +72.7% |
| Financial charges | 65/66B | €19,380 | €17,512 | -€1,867 | -9.6% |
| Recurring financial charges | 65 | €19,380 | €17,512 | -€1,867 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €670,797 | €625,086 | -€45,711 | -6.8% |
| Income taxes | 67/77 | €173,947 | €160,359 | -€13,588 | -7.8% |
| Profit (loss) for the period | 9904 | €496,850 | €464,727 | -€32,123 | -6.5% |
| Transfer to tax-exempt reserves | 689 | €147,350 | €147,350 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €349,500 | €317,377 | -€32,123 | -9.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.