COWATCH: 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.
COWATCH
Largest movements
- Receivables within one year -€27,375
down €27,375 (-98.2%), from €27,875 to €500
- Tangible fixed assets -€22,441
down €22,441 (-3.3%), from €681,802 to €659,361
of which Land and buildings: -€20,394
- Cash +€16,669
up €16,669 (+114.6%), from €14,543 to €31,211
mainly Depreciation (+€27,630) and Receivables within one year (+€27,375)
- Other debts -€45,000
down €45,000 (-14.0%), from €321,820 to €276,820
- Profit (loss) carried forward +€17,662
up €17,662 (+76.0%), from -€23,230 to -€5,568
- Gross operating margin +€44,525
up €44,525 (+668.1%), from €6,664 to €51,190
- Turnover +€38,798
up €38,798 (+139.2%), from €27,875 to €66,673
- Financial charges -€21,787
down €21,787 (-99.3%), from €21,940 to €153
- Purchases and services -€20,857
down €20,857 (-57.4%), from €36,341 to €15,484
- Depreciation -€843
down €843 (-3.0%), from €28,473 to €27,630
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 | €724,219 | €691,072 | -€33,148 | -4.6% |
| Fixed assets | 21/28 | €681,802 | €659,361 | -€22,441 | -3.3% |
| Tangible fixed assets | 22/27 | €681,802 | €659,361 | -€22,441 | -3.3% |
| Land and buildings | 22 | €676,763 | €656,369 | -€20,394 | -3.0% |
| Plant, machinery and equipment | 23 | €5,039 | €2,992 | -€2,047 | -40.6% |
| Current assets | 29/58 | €42,418 | €31,711 | -€10,706 | -25.2% |
| Amounts receivable within one year | 40/41 | €27,875 | €500 | -€27,375 | -98.2% |
| Other amounts receivable | 41 | €27,875 | €500 | -€27,375 | -98.2% |
| Cash at bank and in hand | 54/58 | €14,543 | €31,211 | +€16,669 | +114.6% |
| Total equity and liabilities | 10/49 | €724,219 | €691,072 | -€33,148 | -4.6% |
| Equity | 10/15 | €395,681 | €413,344 | +€17,662 | +4.5% |
| Contributions | 10/11 | €380,829 | €380,829 | = | 0.0% |
| Capital | 10 | €380,829 | €380,829 | = | 0.0% |
| Issued capital | 100 | €380,829 | €380,829 | = | 0.0% |
| Reserves | 13 | €38,083 | €38,083 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,083 | €38,083 | = | 0.0% |
| Legal reserve | 130 | €38,083 | €38,083 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,230 | -€5,568 | +€17,662 | +76.0% |
| Amounts payable | 17/49 | €328,538 | €277,728 | -€50,810 | -15.5% |
| Amounts payable within one year | 42/48 | €328,538 | €277,002 | -€51,537 | -15.7% |
| Trade debts | 44 | €182 | €182 | = | 0.0% |
| Suppliers | 440/4 | €182 | €182 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,537 | €0 | -€6,537 | -100.0% |
| Taxes | 450/3 | €6,537 | €0 | -€6,537 | -100.0% |
| Other amounts payable | 47/48 | €321,820 | €276,820 | -€45,000 | -14.0% |
| Accrued charges and deferred income | 492/3 | - | €727 | +€727 | |
| Turnover | 70 | €27,875 | €66,673 | +€38,798 | +139.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €36,341 | €15,484 | -€20,857 | -57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,473 | €27,630 | -€843 | -3.0% |
| Other operating charges | 640/8 | €5,572 | €5,744 | +€173 | +3.1% |
| Gross operating margin | 9900 | €6,664 | €51,190 | +€44,525 | +668.1% |
| Operating profit (loss) | 9901 | -€27,380 | €17,815 | +€45,196 | |
| Financial charges | 65/66B | €21,940 | €153 | -€21,787 | -99.3% |
| Recurring financial charges | 65 | €21,940 | €153 | -€21,787 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | -€49,321 | €17,662 | +€66,983 | |
| Profit (loss) for the period | 9904 | -€49,321 | €17,662 | +€66,983 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,321 | €17,662 | +€66,983 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.