THIERRY COPPENS: 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.
THIERRY COPPENS
Largest movements
- Cash -€152,466
down €152,466 (-96.5%), from €158,034 to €5,568
- Receivables within one year +€19,824
up €19,824 (+211%), from €9,386 to €29,210
of which Trade receivables: +€24,947
- Tangible fixed assets +€5,259
up €5,259 (+3.4%), from €152,681 to €157,941
of which Other tangible fixed assets: +€15,244
- Other debts -€78,704
down €78,704 (-38.4%), from €205,148 to €126,444
- Profit (loss) carried forward -€28,767
down €28,767 (-456%), from -€6,307 to -€35,074
- Debts after one year -€15,936
down €15,936 (-16.9%), from €94,039 to €78,103
- Tax, wage and social debts -€5,443
down €5,443 (-80.2%), from €6,786 to €1,342
of which Taxes: -€6,351
- Gross operating margin +€34,652
up €34,652, from -€8,949 to €25,702
- Depreciation +€12,050
up €12,050 (+178%), from €6,770 to €18,820
- Financial charges -€5,054
down €5,054 (-72.5%), from €6,976 to €1,922
- Other operating charges -€717
down €717 (-66.6%), from €1,077 to €360
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €326,293 | €197,718 | -€128,574 | -39.4% |
| Fixed assets | 21/28 | €157,681 | €162,941 | +€5,259 | +3.3% |
| Tangible fixed assets | 22/27 | €152,681 | €157,941 | +€5,259 | +3.4% |
| Land and buildings | 22 | €124,034 | €117,535 | -€6,499 | -5.2% |
| Plant, machinery and equipment | 23 | €3,909 | €1,041 | -€2,869 | -73.4% |
| Furniture and vehicles | 24 | €617 | €0 | -€617 | -100% |
| Other tangible fixed assets | 26 | €24,121 | €39,365 | +€15,244 | +63.2% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €168,612 | €34,778 | -€133,834 | -79.4% |
| Amounts receivable within one year | 40/41 | €9,386 | €29,210 | +€19,824 | +211% |
| Trade receivables | 40 | €4,263 | €29,210 | +€24,947 | +585% |
| Other amounts receivable | 41 | €5,123 | €0 | -€5,123 | -100% |
| Cash at bank and in hand | 54/58 | €158,034 | €5,568 | -€152,466 | -96.5% |
| Deferred charges and accrued income | 490/1 | €1,193 | €0 | -€1,193 | -100% |
| Total equity and liabilities | 10/49 | €326,293 | €197,718 | -€128,574 | -39.4% |
| Equity | 10/15 | €1,753 | -€27,014 | -€28,767 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,307 | -€35,074 | -€28,767 | -456% |
| Amounts payable | 17/49 | €324,540 | €224,732 | -€99,808 | -30.8% |
| Amounts payable after more than one year | 17 | €94,039 | €78,103 | -€15,936 | -16.9% |
| Financial debts | 170/4 | €94,039 | €78,103 | -€15,936 | -16.9% |
| Amounts payable within one year | 42/48 | €230,501 | €146,630 | -€83,871 | -36.4% |
| Current portion of amounts payable after more than one year | 42 | €8,921 | €8,132 | -€789 | -8.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €494 | €1,559 | +€1,066 | +216% |
| Suppliers | 440/4 | €494 | €1,559 | +€1,066 | +216% |
| Advances received on contracts in progress | 46 | €9,152 | €9,152 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,786 | €1,342 | -€5,443 | -80.2% |
| Taxes | 450/3 | €6,786 | €435 | -€6,351 | -93.6% |
| Remuneration and social security | 454/9 | - | €907 | +€907 | |
| Other amounts payable | 47/48 | €205,148 | €126,444 | -€78,704 | -38.4% |
| Non-recurring operating income | 76A | €726 | €1,500 | +€774 | +107% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,770 | €18,820 | +€12,050 | +178% |
| Other operating charges | 640/8 | €1,077 | €360 | -€717 | -66.6% |
| Gross operating margin | 9900 | -€8,949 | €25,702 | +€34,652 | |
| Operating profit (loss) | 9901 | -€16,796 | €6,522 | +€23,319 | |
| Financial income | 75/76B | €146 | €8 | -€138 | -94.5% |
| Recurring financial income | 75 | €146 | €8 | -€138 | -94.5% |
| Financial charges | 65/66B | €6,976 | €1,922 | -€5,054 | -72.5% |
| Recurring financial charges | 65 | €6,976 | €1,922 | -€5,054 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,626 | €4,609 | +€28,235 | |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€23,626 | €4,609 | +€28,235 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,626 | €4,609 | +€28,235 |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.