Philippe Van Coppenolle: 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.
Philippe Van Coppenolle
Largest movements
- Tangible fixed assets +€796,379
new in 2025: €796,379
of which Land and buildings: +€788,299
- Cash +€29,764
up €29,764 (+67.0%), from €44,428 to €74,192
mainly Debts after one year (+€806,026) and Current portion of long-term debt (+€25,836)
- Debts after one year +€806,026
new in 2025: €806,026
- Current portion of long-term debt +€25,836
new in 2025: €25,836
- Profit (loss) carried forward -€10,164
down €10,164 (-84.4%), from €12,039 to €1,875
- Trade debts +€9,957
up €9,957 (+37,293%), from €27 to €9,984
- Gross operating margin +€52,829
up €52,829 (+344%), from €15,343 to €68,172
- Depreciation +€22,579
new in 2025: €22,579
- Financial charges +€19,561
up €19,561 (+451,748%), from €4 to €19,565
- Taxes -€3,257
down €3,257 (-98.7%), from €3,300 to €43
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 | €44,428 | €877,071 | +€832,643 | +1,874% |
| Fixed assets | 21/28 | - | €796,379 | +€796,379 | |
| Tangible fixed assets | 22/27 | - | €796,379 | +€796,379 | |
| Land and buildings | 22 | - | €788,299 | +€788,299 | |
| Furniture and vehicles | 24 | - | €8,080 | +€8,080 | |
| Current assets | 29/58 | €44,428 | €80,692 | +€36,264 | +81.6% |
| Amounts receivable within one year | 40/41 | - | €6,500 | +€6,500 | |
| Other amounts receivable | 41 | - | €6,500 | +€6,500 | |
| Cash at bank and in hand | 54/58 | €44,428 | €74,192 | +€29,764 | +67.0% |
| Total equity and liabilities | 10/49 | €44,428 | €877,071 | +€832,643 | +1,874% |
| Equity | 10/15 | €27,039 | €16,875 | -€10,164 | -37.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,039 | €1,875 | -€10,164 | -84.4% |
| Amounts payable | 17/49 | €17,389 | €860,196 | +€842,807 | +4,847% |
| Amounts payable after more than one year | 17 | - | €806,026 | +€806,026 | |
| Financial debts | 170/4 | - | €806,026 | +€806,026 | |
| Amounts payable within one year | 42/48 | €17,389 | €54,170 | +€36,781 | +212% |
| Current portion of amounts payable after more than one year | 42 | - | €25,836 | +€25,836 | |
| Trade debts | 44 | €27 | €9,984 | +€9,957 | +37,293% |
| Suppliers | 440/4 | €27 | €9,984 | +€9,957 | +37,293% |
| Taxes, remuneration and social security | 45 | €16,174 | €17,410 | +€1,236 | +7.6% |
| Taxes | 450/3 | €9,816 | €9,119 | -€697 | -7.1% |
| Remuneration and social security | 454/9 | €6,358 | €8,291 | +€1,933 | +30.4% |
| Other amounts payable | 47/48 | €1,189 | €940 | -€249 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €22,579 | +€22,579 | |
| Non-recurring operating charges | 66A | - | €36,295 | +€36,295 | |
| Gross operating margin | 9900 | €15,343 | €68,172 | +€52,829 | +344% |
| Operating profit (loss) | 9901 | €15,343 | €9,298 | -€6,045 | -39.4% |
| Financial income | 75/76B | - | €146 | +€146 | |
| Recurring financial income | 75 | - | €146 | +€146 | |
| Financial charges | 65/66B | €4 | €19,565 | +€19,561 | +451,748% |
| Recurring financial charges | 65 | €4 | €19,565 | +€19,561 | +451,748% |
| Profit (loss) for the period before taxes | 9903 | €15,339 | -€10,121 | -€25,460 | |
| Income taxes | 67/77 | €3,300 | €43 | -€3,257 | -98.7% |
| Profit (loss) for the period | 9904 | €12,039 | -€10,164 | -€22,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,039 | -€10,164 | -€22,203 |
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 20 October 2026 via checked.be.