Cowhill Studio: 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.
Cowhill Studio
Largest movements
- Current investments +€379,167
new in 2025: €379,167
- Receivables within one year +€201,754
up €201,754 (+79.3%), from €254,330 to €456,084
of which Other amounts receivable: +€165,177
- Financial fixed assets -€67,775
no longer reported in 2025 (was €67,775)
- Tangible fixed assets -€53,689
down €53,689 (-36.8%), from €145,934 to €92,245
of which Land and buildings: -€54,353
- Cash +€40,753
up €40,753 (+370%), from €11,017 to €51,770
mainly Net result for the year (+€464,983) and Tax, wage and social debts (+€227,483)
- Profit (loss) carried forward +€464,983
up €464,983 (+1,970%), from €23,602 to €488,585
- Debts after one year -€252,960
down €252,960 (-36.1%), from €701,153 to €448,194
- Tax, wage and social debts +€227,483
up €227,483 (+3,533%), from €6,438 to €233,922
- Trade debts +€80,036
up €80,036 (+4,356%), from €1,838 to €81,874
- Current portion of long-term debt -€21,640
down €21,640 (-46.6%), from €46,391 to €24,751
- Gross operating margin +€653,639
up €653,639 (+2,067%), from €31,622 to €685,261
- Taxes +€162,192
up €162,192 (+77,600%), from €209 to €162,401
- Financial charges +€8,029
up €8,029 (+21.1%), from €38,070 to €46,099
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 | €782,422 | €1,280,700 | +€498,278 | +63.7% |
| Fixed assets | 21/28 | €213,709 | €92,245 | -€121,464 | -56.8% |
| Tangible fixed assets | 22/27 | €145,934 | €92,245 | -€53,689 | -36.8% |
| Land and buildings | 22 | €54,353 | - | -€54,353 | |
| Plant, machinery and equipment | 23 | €76,002 | €76,715 | +€713 | +0.9% |
| Furniture and vehicles | 24 | €15,579 | €15,530 | -€49 | -0.3% |
| Financial fixed assets | 28 | €67,775 | - | -€67,775 | |
| Current assets | 29/58 | €568,713 | €1,188,455 | +€619,742 | +109% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Trade receivables | 290 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €254,330 | €456,084 | +€201,754 | +79.3% |
| Trade receivables | 40 | €42,406 | €78,984 | +€36,578 | +86.3% |
| Other amounts receivable | 41 | €211,923 | €377,100 | +€165,177 | +77.9% |
| Current investments | 50/53 | - | €379,167 | +€379,167 | |
| Cash at bank and in hand | 54/58 | €11,017 | €51,770 | +€40,753 | +370% |
| Deferred charges and accrued income | 490/1 | €3,365 | €1,434 | -€1,932 | -57.4% |
| Total equity and liabilities | 10/49 | €782,422 | €1,280,700 | +€498,278 | +63.7% |
| Equity | 10/15 | €26,602 | €491,585 | +€464,983 | +1,748% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,602 | €488,585 | +€464,983 | +1,970% |
| Amounts payable | 17/49 | €755,820 | €789,115 | +€33,295 | +4.4% |
| Amounts payable after more than one year | 17 | €701,153 | €448,194 | -€252,960 | -36.1% |
| Financial debts | 170/4 | €701,153 | €448,194 | -€252,960 | -36.1% |
| Amounts payable within one year | 42/48 | €54,667 | €340,922 | +€286,255 | +524% |
| Current portion of amounts payable after more than one year | 42 | €46,391 | €24,751 | -€21,640 | -46.6% |
| Trade debts | 44 | €1,838 | €81,874 | +€80,036 | +4,356% |
| Suppliers | 440/4 | €1,838 | €81,874 | +€80,036 | +4,356% |
| Taxes, remuneration and social security | 45 | €6,438 | €233,922 | +€227,483 | +3,533% |
| Taxes | 450/3 | €6,438 | €233,922 | +€227,483 | +3,533% |
| Other amounts payable | 47/48 | - | €375 | +€375 | |
| Non-recurring operating income | 76A | - | €42,871 | +€42,871 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,455 | €11,099 | -€5,356 | -32.5% |
| Other operating charges | 640/8 | €1,175 | €679 | -€495 | -42.2% |
| Gross operating margin | 9900 | €31,622 | €685,261 | +€653,639 | +2,067% |
| Operating profit (loss) | 9901 | €13,993 | €673,482 | +€659,490 | +4,713% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €38,070 | €46,099 | +€8,029 | +21.1% |
| Recurring financial charges | 65 | €38,070 | €46,099 | +€8,029 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | -€24,077 | €627,384 | +€651,461 | |
| Income taxes | 67/77 | €209 | €162,401 | +€162,192 | +77,600% |
| Profit (loss) for the period | 9904 | -€24,286 | €464,983 | +€489,269 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,286 | €464,983 | +€489,269 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.