Cowatch: 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.
Cowatch
Largest movements
- Receivables within one year -€93,215
down €93,215 (-79.8%), from €116,747 to €23,531
of which Trade receivables: -€95,036
- Cash +€65,697
up €65,697 (+582.9%), from €11,270 to €76,967
mainly Receivables within one year (+€93,215) and Net result for the year (+€54,537)
- Intangible fixed assets -€10,952
down €10,952 (-23.5%), from €46,682 to €35,729
- Other debts -€17,094
down €17,094 (-21.8%), from €78,471 to €61,377
- Tax, wage and social debts -€12,989
down €12,989 (-71.3%), from €18,226 to €5,237
- Current portion of long-term debt -€6,667
down €6,667 (-100.0%), from €6,667 to €0
- Profit (loss) carried forward -€5,463
down €5,463 (-76.7%), from €7,121 to €1,658
No income-statement line moved by more than 1% of the activity.
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 | €217,409 | €178,002 | -€39,408 | -18.1% |
| Fixed assets | 21/28 | €46,682 | €35,729 | -€10,952 | -23.5% |
| Intangible fixed assets | 21 | €46,682 | €35,729 | -€10,952 | -23.5% |
| Current assets | 29/58 | €170,727 | €142,272 | -€28,455 | -16.7% |
| Stocks and contracts in progress | 3 | €42,711 | €41,774 | -€937 | -2.2% |
| Stocks | 30/36 | €42,711 | €41,774 | -€937 | -2.2% |
| Amounts receivable within one year | 40/41 | €116,747 | €23,531 | -€93,215 | -79.8% |
| Trade receivables | 40 | €114,799 | €19,763 | -€95,036 | -82.8% |
| Other amounts receivable | 41 | €1,947 | €3,768 | +€1,821 | +93.5% |
| Cash at bank and in hand | 54/58 | €11,270 | €76,967 | +€65,697 | +582.9% |
| Total equity and liabilities | 10/49 | €217,409 | €178,002 | -€39,408 | -18.1% |
| Equity | 10/15 | €88,621 | €83,158 | -€5,463 | -6.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €13,850 | €13,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,121 | €1,658 | -€5,463 | -76.7% |
| Amounts payable | 17/49 | €128,788 | €94,844 | -€33,944 | -26.4% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Other amounts payable | 178/9 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €103,788 | €68,605 | -€35,183 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €0 | -€6,667 | -100.0% |
| Trade debts | 44 | €424 | €1,991 | +€1,567 | +369.4% |
| Suppliers | 440/4 | €424 | €1,991 | +€1,567 | +369.4% |
| Taxes, remuneration and social security | 45 | €18,226 | €5,237 | -€12,989 | -71.3% |
| Taxes | 450/3 | €18,226 | €5,237 | -€12,989 | -71.3% |
| Other amounts payable | 47/48 | €78,471 | €61,377 | -€17,094 | -21.8% |
| Accrued charges and deferred income | 492/3 | €0 | €1,239 | +€1,239 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,078 | €10,952 | -€125 | -1.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €86,581 | €86,739 | +€158 | +0.2% |
| Operating profit (loss) | 9901 | €75,116 | €75,387 | +€271 | +0.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,904 | €2,671 | -€233 | -8.0% |
| Recurring financial charges | 65 | €2,904 | €2,671 | -€233 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €72,211 | €72,716 | +€504 | +0.7% |
| Income taxes | 67/77 | €18,053 | €18,179 | +€126 | +0.7% |
| Profit (loss) for the period | 9904 | €54,159 | €54,537 | +€378 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,159 | €54,537 | +€378 | +0.7% |
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 10 October 2026 via checked.be.