XAVIER 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.
XAVIER COPPENS
Largest movements
- Receivables within one year -€43,762
down €43,762 (-36.3%), from €120,587 to €76,825
of which Other amounts receivable: -€50,962
- Cash +€20,356
up €20,356 (+139%), from €14,664 to €35,020
mainly Receivables within one year (+€43,762) and Net result for the year (+€18,680)
- Tangible fixed assets -€4,646
down €4,646 (-7.1%), from €65,100 to €60,454
of which Land and buildings: -€8,697
- Contributions -€19,000
no longer reported in 2025 (was €19,000)
- Trade debts +€18,163
up €18,163 (+62.7%), from €28,960 to €47,123
- Reserves -€13,889
down €13,889 (-18.7%), from €74,413 to €60,524
- Debts after one year -€12,914
down €12,914 (-19.4%), from €66,520 to €53,606
- Depreciation -€5,397
down €5,397 (-34.8%), from €15,493 to €10,096
- Financial charges +€2,196
up €2,196 (+77.3%), from €2,840 to €5,036
- Taxes +€1,285
up €1,285 (+21.2%), from €6,062 to €7,347
- Gross operating margin -€914
down €914 (-2.0%), from €44,983 to €44,069
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 | €206,293 | €179,145 | -€27,148 | -13.2% |
| Fixed assets | 21/28 | €65,170 | €60,524 | -€4,646 | -7.1% |
| Tangible fixed assets | 22/27 | €65,100 | €60,454 | -€4,646 | -7.1% |
| Land and buildings | 22 | €63,347 | €54,650 | -€8,697 | -13.7% |
| Plant, machinery and equipment | 23 | €1,417 | €5,804 | +€4,387 | +310% |
| Furniture and vehicles | 24 | €337 | - | -€337 | |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €141,123 | €118,621 | -€22,501 | -15.9% |
| Stocks and contracts in progress | 3 | €3,826 | €3,390 | -€436 | -11.4% |
| Stocks | 30/36 | €3,826 | €3,390 | -€436 | -11.4% |
| Amounts receivable within one year | 40/41 | €120,587 | €76,825 | -€43,762 | -36.3% |
| Trade receivables | 40 | €17,278 | €24,478 | +€7,201 | +41.7% |
| Other amounts receivable | 41 | €103,309 | €52,347 | -€50,962 | -49.3% |
| Cash at bank and in hand | 54/58 | €14,664 | €35,020 | +€20,356 | +139% |
| Deferred charges and accrued income | 490/1 | €2,046 | €3,387 | +€1,341 | +65.5% |
| Total equity and liabilities | 10/49 | €206,293 | €179,145 | -€27,148 | -13.2% |
| Equity | 10/15 | €93,413 | €60,524 | -€32,889 | -35.2% |
| Contributions | 10/11 | €19,000 | - | -€19,000 | |
| Reserves | 13 | €74,413 | €60,524 | -€13,889 | -18.7% |
| Distributable reserves | 133 | €74,413 | €60,524 | -€13,889 | -18.7% |
| Amounts payable | 17/49 | €112,880 | €118,621 | +€5,741 | +5.1% |
| Amounts payable after more than one year | 17 | €66,520 | €53,606 | -€12,914 | -19.4% |
| Financial debts | 170/4 | €66,520 | €53,606 | -€12,914 | -19.4% |
| Amounts payable within one year | 42/48 | €46,360 | €65,015 | +€18,655 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €12,957 | €12,914 | -€43 | -0.3% |
| Trade debts | 44 | €28,960 | €47,123 | +€18,163 | +62.7% |
| Suppliers | 440/4 | €28,960 | €47,123 | +€18,163 | +62.7% |
| Taxes, remuneration and social security | 45 | €4,443 | €4,978 | +€535 | +12.0% |
| Taxes | 450/3 | €1,638 | €2,158 | +€520 | +31.8% |
| Remuneration and social security | 454/9 | €2,806 | €2,820 | +€14 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,493 | €10,096 | -€5,397 | -34.8% |
| Other operating charges | 640/8 | €2,523 | €2,948 | +€424 | +16.8% |
| Gross operating margin | 9900 | €44,983 | €44,069 | -€914 | -2.0% |
| Operating profit (loss) | 9901 | €26,967 | €31,025 | +€4,059 | +15.1% |
| Financial income | 75/76B | €99 | €37 | -€62 | -62.7% |
| Recurring financial income | 75 | €99 | €37 | -€62 | -62.7% |
| Financial charges | 65/66B | €2,840 | €5,036 | +€2,196 | +77.3% |
| Recurring financial charges | 65 | €2,840 | €5,036 | +€2,196 | +77.3% |
| Profit (loss) for the period before taxes | 9903 | €24,225 | €26,026 | +€1,801 | +7.4% |
| Income taxes | 67/77 | €6,062 | €7,347 | +€1,285 | +21.2% |
| Profit (loss) for the period | 9904 | €18,163 | €18,680 | +€516 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,163 | €18,680 | +€516 | +2.8% |
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 18 October 2026 via checked.be.