Kopuur: 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.
What changed
Kopuur
NACE 38.210, Materials recovery from waste
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€260,836
2024 · €253,569+€7,267
Equity
€1.3m
2024 · €1.1m+€260,836
Cash
€287,599
2024 · €275,699+€11,900
Balance sheet total
€3.4m
2024 · €2.6m+€838,559
Largest movements
Assets
- Stocks and contracts +€955,498
up €955,498 (+77.2%), from €1.2m to €2.2m
- Tangible fixed assets -€205,671
down €205,671 (-26.5%), from €777,193 to €571,522
of which Furniture and vehicles: -€289,445
- Receivables within one year +€71,140
up €71,140 (+23.5%), from €302,397 to €373,536
of which Trade receivables: +€76,573
Equity and liabilities
- Trade debts +€434,181
up €434,181 (+107%), from €406,697 to €840,878
- Profit (loss) carried forward +€260,836
up €260,836 (+150%), from €173,397 to €434,233
- Short-term financial debts +€200,000
new in 2025: €200,000
- Other debts +€121,182
up €121,182 (+16.2%), from €747,800 to €868,982
- Debts after one year -€69,320
down €69,320 (-39.4%), from €175,766 to €106,446
Income statement
- Taxes -€30,747
down €30,747 (-26.6%), from €115,477 to €84,730
- Gross operating margin -€26,381
down €26,381 (-2.5%), from €1.1m to €1.0m
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.
Result 2024
€253,569
Gross operating margin
-€26,381
Staff costs
-€3,579
Depreciation
+€10,302
Other operating charges
-€1,990
Financial income
-€9,333
Financial charges
+€7,500
Taxes
+€30,747
Result 2025
€260,836
raises the resultlowers the result
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.
From operations
+€19,927
Investment
-€76,621
Financing
+€68,594
Cash 2024
€275,699
From operations (derived)
+€19,927
Net result for the year
+€260,836
Depreciation
+€282,291
Stocks and contracts
-€955,498
Receivables within one year
-€71,140
Deferred charges and accrued income
-€5,692
Trade debts
+€434,181
Tax, wage and social debts
-€46,234
Other debts
+€121,182
Investment (derived)
-€76,621
Investment in fixed assets (net)
-€76,621
Financing
+€68,594
Debts after one year
-€69,320
Current portion of long-term debt
-€62,086
Short-term financial debts
+€200,000
Cash 2025
€287,599
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,610,497 | €3,449,056 | +€838,559 | +32.1% |
| Fixed assets | 21/28 | €777,733 | €572,062 | -€205,671 | -26.4% |
| Tangible fixed assets | 22/27 | €777,193 | €571,522 | -€205,671 | -26.5% |
| Plant, machinery and equipment | 23 | €241,606 | €212,470 | -€29,136 | -12.1% |
| Furniture and vehicles | 24 | €485,028 | €195,583 | -€289,445 | -59.7% |
| Leasing and similar rights | 25 | €50,559 | €163,469 | +€112,911 | +223% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €1,832,765 | €2,876,994 | +€1.0m | +57.0% |
| Stocks and contracts in progress | 3 | €1,238,353 | €2,193,851 | +€955,498 | +77.2% |
| Stocks | 30/36 | €1,238,353 | €2,193,851 | +€955,498 | +77.2% |
| Amounts receivable within one year | 40/41 | €302,397 | €373,536 | +€71,140 | +23.5% |
| Trade receivables | 40 | €236,049 | €312,623 | +€76,573 | +32.4% |
| Other amounts receivable | 41 | €66,348 | €60,914 | -€5,434 | -8.2% |
| Cash at bank and in hand | 54/58 | €275,699 | €287,599 | +€11,900 | +4.3% |
| Deferred charges and accrued income | 490/1 | €16,316 | €22,008 | +€5,692 | +34.9% |
| Total equity and liabilities | 10/49 | €2,610,497 | €3,449,056 | +€838,559 | +32.1% |
| Equity | 10/15 | €1,067,294 | €1,328,130 | +€260,836 | +24.4% |
| Contributions | 10/11 | €28,608 | €28,608 | = | 0.0% |
| Reserves | 13 | €865,289 | €865,289 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,903 | €1,903 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,903 | €1,903 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,559 | €2,559 | = | 0.0% |
| Distributable reserves | 133 | €860,827 | €860,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,397 | €434,233 | +€260,836 | +150% |
| Amounts payable | 17/49 | €1,543,203 | €2,120,926 | +€577,723 | +37.4% |
| Amounts payable after more than one year | 17 | €175,766 | €106,446 | -€69,320 | -39.4% |
| Financial debts | 170/4 | €175,766 | €106,446 | -€69,320 | -39.4% |
| Amounts payable within one year | 42/48 | €1,367,437 | €2,014,480 | +€647,043 | +47.3% |
| Current portion of amounts payable after more than one year | 42 | €131,406 | €69,320 | -€62,086 | -47.2% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €406,697 | €840,878 | +€434,181 | +107% |
| Suppliers | 440/4 | €406,697 | €840,878 | +€434,181 | +107% |
| Taxes, remuneration and social security | 45 | €81,533 | €35,300 | -€46,234 | -56.7% |
| Taxes | 450/3 | €47,359 | €18,663 | -€28,696 | -60.6% |
| Remuneration and social security | 454/9 | €34,174 | €16,637 | -€17,537 | -51.3% |
| Other amounts payable | 47/48 | €747,800 | €868,982 | +€121,182 | +16.2% |
| Remuneration, social security and pensions | 62 | €349,954 | €353,533 | +€3,579 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292,593 | €282,291 | -€10,302 | -3.5% |
| Other operating charges | 640/8 | €1,948 | €3,938 | +€1,990 | +102% |
| Gross operating margin | 9900 | €1,056,763 | €1,030,382 | -€26,381 | -2.5% |
| Operating profit (loss) | 9901 | €412,267 | €390,619 | -€21,648 | -5.3% |
| Financial income | 75/76B | €9,334 | €1 | -€9,333 | -100.0% |
| Recurring financial income | 75 | €9,334 | €1 | -€9,333 | -100.0% |
| Financial charges | 65/66B | €52,555 | €45,055 | -€7,500 | -14.3% |
| Recurring financial charges | 65 | €52,555 | €45,055 | -€7,500 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €369,046 | €345,565 | -€23,480 | -6.4% |
| Income taxes | 67/77 | €115,477 | €84,730 | -€30,747 | -26.6% |
| Profit (loss) for the period | 9904 | €253,569 | €260,836 | +€7,267 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €253,569 | €260,836 | +€7,267 | +2.9% |
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 23 October 2026 via checked.be.