CO-WINGS: what changed
Two fiscal 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.
CO-WINGS
Largest movements
- Receivables within one year -€17,069
down €17,069 (-83.1%), from €20,551 to €3,482
of which Trade receivables: -€20,426
- Cash +€7,786
up €7,786 (+38.0%), from €20,499 to €28,286
mainly Receivables within one year (+€17,069) and Trade debts (+€3,748)
- Tangible fixed assets -€2,122
down €2,122 (-42.0%), from €5,059 to €2,936
of which Furniture and vehicles: -€1,589
- Profit (loss) carried forward -€7,387
down €7,387 (-12.2%), from -€60,793 to -€68,179
- Tax, wage and social debts -€7,205
down €7,205 (-52.7%), from €13,683 to €6,477
of which Taxes: -€6,926
- Trade debts +€3,748
up €3,748 (+256.5%), from €1,461 to €5,210
- Other debts -€1,022
down €1,022 (-22.6%), from €4,516 to €3,494
- Advances received +€633
new in 2025: €633
- Gross operating margin +€5,161
up €5,161 (+52.6%), from -€9,813 to -€4,652
- Other operating charges -€374
down €374 (-51.1%), from €732 to €358
- Financial charges -€185
down €185 (-61.8%), from €299 to €114
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.
Cash bridge derived
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 | €46,511 | €35,279 | -€11,233 | -24.2% |
| Fixed assets | 21/28 | €5,059 | €2,936 | -€2,122 | -42.0% |
| Tangible fixed assets | 22/27 | €5,059 | €2,936 | -€2,122 | -42.0% |
| Furniture and vehicles | 24 | €3,178 | €1,589 | -€1,589 | -50.0% |
| Other tangible fixed assets | 26 | €1,881 | €1,347 | -€533 | -28.4% |
| Current assets | 29/58 | €41,453 | €32,342 | -€9,110 | -22.0% |
| Amounts receivable within one year | 40/41 | €20,551 | €3,482 | -€17,069 | -83.1% |
| Trade receivables | 40 | €20,426 | €0 | -€20,426 | -100.0% |
| Other amounts receivable | 41 | €125 | €3,482 | +€3,357 | +2681.3% |
| Current investments | 50/53 | €20 | €20 | +€0 | +0.2% |
| Cash at bank and in hand | 54/58 | €20,499 | €28,286 | +€7,786 | +38.0% |
| Deferred charges and accrued income | 490/1 | €382 | €555 | +€173 | +45.2% |
| Total equity and liabilities | 10/49 | €46,511 | €35,279 | -€11,233 | -24.2% |
| Equity | 10/15 | €26,851 | €19,464 | -€7,387 | -27.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €69,044 | €69,044 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €69,044 | €69,044 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,793 | -€68,179 | -€7,387 | -12.2% |
| Amounts payable | 17/49 | €19,660 | €15,814 | -€3,846 | -19.6% |
| Amounts payable within one year | 42/48 | €19,660 | €15,814 | -€3,846 | -19.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,461 | €5,210 | +€3,748 | +256.5% |
| Suppliers | 440/4 | €1,461 | €5,210 | +€3,748 | +256.5% |
| Advances received on contracts in progress | 46 | - | €633 | +€633 | |
| Taxes, remuneration and social security | 45 | €13,683 | €6,477 | -€7,205 | -52.7% |
| Taxes | 450/3 | €7,629 | €703 | -€6,926 | -90.8% |
| Remuneration and social security | 454/9 | €6,054 | €5,774 | -€280 | -4.6% |
| Other amounts payable | 47/48 | €4,516 | €3,494 | -€1,022 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,122 | €2,122 | +€0 | 0.0% |
| Other operating charges | 640/8 | €732 | €358 | -€374 | -51.1% |
| Gross operating margin | 9900 | -€9,813 | -€4,652 | +€5,161 | +52.6% |
| Operating profit (loss) | 9901 | -€12,667 | -€7,132 | +€5,535 | +43.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -5.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -5.9% |
| Financial charges | 65/66B | €299 | €114 | -€185 | -61.8% |
| Recurring financial charges | 65 | €299 | €114 | -€185 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,966 | -€7,246 | +€5,719 | +44.1% |
| Income taxes | 67/77 | €133 | €140 | +€7 | +5.5% |
| Profit (loss) for the period | 9904 | -€13,099 | -€7,387 | +€5,712 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,099 | -€7,387 | +€5,712 | +43.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.