Cowala: 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.
Cowala
Largest movements
- Cash -€8,950
down €8,950 (-7.6%), from €117,869 to €108,919
mainly Contributions, distributions and other (-€117,824) and Tax, wage and social debts (-€583)
- Receivables within one year -€8,294
down €8,294 (-21.7%), from €38,306 to €30,012
of which Trade receivables: -€8,325
- Tangible fixed assets -€5,191
down €5,191 (-24.2%), from €21,474 to €16,283
of which Furniture and vehicles: -€3,333
- Reserves -€73,106
down €73,106 (-47.1%), from €155,142 to €82,036
- Other debts +€51,538
up €51,538 (+538%), from €9,573 to €61,111
- Gross operating margin +€8,179
up €8,179 (+14.7%), from €55,599 to €63,778
- Depreciation +€1,862
up €1,862 (+55.9%), from €3,329 to €5,191
- Taxes +€1,538
up €1,538 (+13.8%), from €11,109 to €12,647
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 | €179,618 | €157,381 | -€22,237 | -12.4% |
| Fixed assets | 21/28 | €21,474 | €16,283 | -€5,191 | -24.2% |
| Tangible fixed assets | 22/27 | €21,474 | €16,283 | -€5,191 | -24.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €5,507 | €2,173 | -€3,333 | -60.5% |
| Other tangible fixed assets | 26 | €15,967 | €14,109 | -€1,858 | -11.6% |
| Current assets | 29/58 | €158,144 | €141,098 | -€17,046 | -10.8% |
| Amounts receivable within one year | 40/41 | €38,306 | €30,012 | -€8,294 | -21.7% |
| Trade receivables | 40 | €37,415 | €29,089 | -€8,325 | -22.3% |
| Other amounts receivable | 41 | €891 | €923 | +€32 | +3.6% |
| Cash at bank and in hand | 54/58 | €117,869 | €108,919 | -€8,950 | -7.6% |
| Deferred charges and accrued income | 490/1 | €1,969 | €2,167 | +€197 | +10.0% |
| Total equity and liabilities | 10/49 | €179,618 | €157,381 | -€22,237 | -12.4% |
| Equity | 10/15 | €161,142 | €88,036 | -€73,106 | -45.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €155,142 | €82,036 | -€73,106 | -47.1% |
| Distributable reserves | 133 | €155,142 | €82,036 | -€73,106 | -47.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,476 | €69,345 | +€50,869 | +275% |
| Amounts payable within one year | 42/48 | €18,476 | €69,345 | +€50,869 | +275% |
| Financial debts | 43 | €25 | €132 | +€107 | +423% |
| Credit institutions | 430/8 | €25 | €132 | +€107 | +423% |
| Trade debts | 44 | €1,298 | €1,105 | -€192 | -14.8% |
| Suppliers | 440/4 | €1,298 | €1,105 | -€192 | -14.8% |
| Taxes, remuneration and social security | 45 | €7,580 | €6,997 | -€583 | -7.7% |
| Taxes | 450/3 | €7,580 | €6,997 | -€583 | -7.7% |
| Other amounts payable | 47/48 | €9,573 | €61,111 | +€51,538 | +538% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,329 | €5,191 | +€1,862 | +55.9% |
| Other operating charges | 640/8 | €239 | €258 | +€19 | +8.1% |
| Non-recurring operating charges | 66A | €0 | €49 | +€49 | |
| Gross operating margin | 9900 | €55,599 | €63,778 | +€8,179 | +14.7% |
| Operating profit (loss) | 9901 | €52,031 | €58,280 | +€6,249 | +12.0% |
| Financial income | 75/76B | €21 | €14 | -€7 | -32.2% |
| Recurring financial income | 75 | €21 | €14 | -€7 | -32.2% |
| Financial charges | 65/66B | €900 | €930 | +€30 | +3.4% |
| Recurring financial charges | 65 | €900 | €930 | +€30 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €51,152 | €57,364 | +€6,212 | +12.1% |
| Income taxes | 67/77 | €11,109 | €12,647 | +€1,538 | +13.8% |
| Profit (loss) for the period | 9904 | €40,043 | €44,718 | +€4,674 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,043 | €44,718 | +€4,674 | +11.7% |
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 14 October 2026 via checked.be.