MED. D COPIN: 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.
MED. D COPIN
Largest movements
- Receivables after one year -€195,000
no longer reported in 2025 (was €195,000)
- Cash +€37,924
up €37,924 (+25.5%), from €148,618 to €186,542
mainly Receivables after one year (+€195,000) and Net result for the year (+€108,842)
- Current investments +€24,943
up €24,943 (+4.3%), from €573,672 to €598,615
- Tangible fixed assets -€16,454
down €16,454 (-82.9%), from €19,847 to €3,392
of which Land and buildings: -€17,480
- Other debts -€118,689
down €118,689 (-46.4%), from €255,648 to €136,959
- Debts after one year -€21,194
no longer reported in 2025 (was €21,194)
- Gross operating margin -€22,228
down €22,228 (-11.2%), from €199,003 to €176,775
- Taxes -€6,286
down €6,286 (-12.0%), from €52,571 to €46,284
- Financial charges -€3,959
down €3,959 (-35.2%), from €11,238 to €7,279
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 | €945,879 | €795,822 | -€150,057 | -15.9% |
| Fixed assets | 21/28 | €19,847 | €3,392 | -€16,454 | -82.9% |
| Tangible fixed assets | 22/27 | €19,847 | €3,392 | -€16,454 | -82.9% |
| Land and buildings | 22 | €19,051 | €1,571 | -€17,480 | -91.8% |
| Plant, machinery and equipment | 23 | €795 | €213 | -€583 | -73.2% |
| Other tangible fixed assets | 26 | - | €1,608 | +€1,608 | |
| Current assets | 29/58 | €926,033 | €792,430 | -€133,603 | -14.4% |
| Amounts receivable after more than one year | 29 | €195,000 | - | -€195,000 | |
| Other amounts receivable | 291 | €195,000 | - | -€195,000 | |
| Amounts receivable within one year | 40/41 | €4,691 | €5,367 | +€675 | +14.4% |
| Trade receivables | 40 | €581 | - | -€581 | |
| Other amounts receivable | 41 | €4,111 | €5,367 | +€1,256 | +30.6% |
| Current investments | 50/53 | €573,672 | €598,615 | +€24,943 | +4.3% |
| Cash at bank and in hand | 54/58 | €148,618 | €186,542 | +€37,924 | +25.5% |
| Deferred charges and accrued income | 490/1 | €4,051 | €1,906 | -€2,145 | -53.0% |
| Total equity and liabilities | 10/49 | €945,879 | €795,822 | -€150,057 | -15.9% |
| Equity | 10/15 | €573,250 | €572,680 | -€570 | -0.1% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Contributions outside capital | 11 | €93,000 | - | -€93,000 | |
| Other | 1109/19 | €93,000 | - | -€93,000 | |
| Reserves | 13 | €480,250 | €479,680 | -€570 | -0.1% |
| Non-distributable reserves | 130/1 | €9,300 | - | -€9,300 | |
| Legal reserve | 130 | €9,300 | - | -€9,300 | |
| Distributable reserves | 133 | €470,950 | €479,680 | +€8,730 | +1.9% |
| Provisions and deferred taxes | 16 | €20,979 | €20,979 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,979 | €20,979 | = | 0.0% |
| Pensions and similar obligations | 160 | €20,979 | €20,979 | = | 0.0% |
| Amounts payable | 17/49 | €351,651 | €202,163 | -€149,487 | -42.5% |
| Amounts payable after more than one year | 17 | €21,194 | - | -€21,194 | |
| Financial debts | 170/4 | €21,194 | - | -€21,194 | |
| Amounts payable within one year | 42/48 | €322,371 | €197,109 | -€125,262 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €30,444 | €34,528 | +€4,084 | +13.4% |
| Trade debts | 44 | €3,479 | €1,447 | -€2,032 | -58.4% |
| Suppliers | 440/4 | €3,479 | €1,447 | -€2,032 | -58.4% |
| Taxes, remuneration and social security | 45 | €32,801 | €24,175 | -€8,625 | -26.3% |
| Taxes | 450/3 | €32,801 | €24,175 | -€8,625 | -26.3% |
| Other amounts payable | 47/48 | €255,648 | €136,959 | -€118,689 | -46.4% |
| Accrued charges and deferred income | 492/3 | €8,085 | €5,054 | -€3,031 | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,244 | €18,110 | -€134 | -0.7% |
| Other operating charges | 640/8 | €1,685 | €2,373 | +€688 | +40.8% |
| Gross operating margin | 9900 | €199,003 | €176,775 | -€22,228 | -11.2% |
| Operating profit (loss) | 9901 | €179,074 | €156,292 | -€22,782 | -12.7% |
| Financial income | 75/76B | €6,441 | €6,114 | -€328 | -5.1% |
| Recurring financial income | 75 | €6,441 | €6,114 | -€328 | -5.1% |
| Financial charges | 65/66B | €11,238 | €7,279 | -€3,959 | -35.2% |
| Recurring financial charges | 65 | €11,238 | €7,279 | -€3,959 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €174,277 | €155,126 | -€19,151 | -11.0% |
| Income taxes | 67/77 | €52,571 | €46,284 | -€6,286 | -12.0% |
| Profit (loss) for the period | 9904 | €121,706 | €108,842 | -€12,864 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €121,706 | €108,842 | -€12,864 | -10.6% |
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 17 October 2026 via checked.be.