COWNECTED: 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.
COWNECTED
Largest movements
- Cash +€42,865
up €42,865 (+73.8%), from €58,111 to €100,976
mainly Other debts (+€43,114) and Net result for the year (+€26,105)
- Tangible fixed assets -€15,093
down €15,093 (-24.7%), from €61,113 to €46,020
of which Land and buildings: -€10,925
- Receivables within one year +€12,460
up €12,460 (+13.3%), from €93,858 to €106,318
of which Trade receivables: +€9,487
- Other debts +€43,114
up €43,114 (+10,190%), from €423 to €43,537
- Profit (loss) carried forward +€26,105
up €26,105 (+16.4%), from €159,008 to €185,113
- Tax, wage and social debts -€17,718
down €17,718 (-59.9%), from €29,595 to €11,877
of which Remuneration and social security: -€11,101
- Trade debts -€10,116
down €10,116 (-70.3%), from €14,384 to €4,268
- Gross operating margin +€11,713
up €11,713 (+9.5%), from €123,107 to €134,820
- Financial charges -€9,740
down €9,740 (-17.5%), from €55,654 to €45,914
- Depreciation -€4,761
down €4,761 (-24.0%), from €19,853 to €15,093
- Taxes +€4,519
up €4,519 (+123%), from €3,663 to €8,183
- Staff costs +€3,208
up €3,208 (+9.1%), from €35,272 to €38,480
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 | €214,054 | €255,494 | +€41,439 | +19.4% |
| Fixed assets | 21/28 | €61,463 | €46,370 | -€15,093 | -24.6% |
| Tangible fixed assets | 22/27 | €61,113 | €46,020 | -€15,093 | -24.7% |
| Land and buildings | 22 | €48,179 | €37,254 | -€10,925 | -22.7% |
| Plant, machinery and equipment | 23 | €5,667 | €4,725 | -€941 | -16.6% |
| Furniture and vehicles | 24 | €7,267 | €4,041 | -€3,226 | -44.4% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €152,592 | €209,124 | +€56,532 | +37.0% |
| Amounts receivable within one year | 40/41 | €93,858 | €106,318 | +€12,460 | +13.3% |
| Trade receivables | 40 | €83,201 | €92,688 | +€9,487 | +11.4% |
| Other amounts receivable | 41 | €10,657 | €13,630 | +€2,973 | +27.9% |
| Cash at bank and in hand | 54/58 | €58,111 | €100,976 | +€42,865 | +73.8% |
| Deferred charges and accrued income | 490/1 | €623 | €1,830 | +€1,207 | +194% |
| Total equity and liabilities | 10/49 | €214,054 | €255,494 | +€41,439 | +19.4% |
| Equity | 10/15 | €167,068 | €193,173 | +€26,105 | +15.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,008 | €185,113 | +€26,105 | +16.4% |
| Amounts payable | 17/49 | €46,986 | €62,321 | +€15,335 | +32.6% |
| Amounts payable within one year | 42/48 | €46,986 | €62,321 | +€15,335 | +32.6% |
| Financial debts | 43 | €2,584 | €2,639 | +€54 | +2.1% |
| Credit institutions | 430/8 | €2,584 | €2,639 | +€54 | +2.1% |
| Trade debts | 44 | €14,384 | €4,268 | -€10,116 | -70.3% |
| Suppliers | 440/4 | €14,384 | €4,268 | -€10,116 | -70.3% |
| Taxes, remuneration and social security | 45 | €29,595 | €11,877 | -€17,718 | -59.9% |
| Taxes | 450/3 | €13,694 | €7,077 | -€6,616 | -48.3% |
| Remuneration and social security | 454/9 | €15,901 | €4,800 | -€11,101 | -69.8% |
| Other amounts payable | 47/48 | €423 | €43,537 | +€43,114 | +10,190% |
| Non-recurring operating income | 76A | - | €18,182 | +€18,182 | |
| Remuneration, social security and pensions | 62 | €35,272 | €38,480 | +€3,208 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,853 | €15,093 | -€4,761 | -24.0% |
| Other operating charges | 640/8 | €263 | €1,047 | +€783 | +298% |
| Gross operating margin | 9900 | €123,107 | €134,820 | +€11,713 | +9.5% |
| Operating profit (loss) | 9901 | €67,719 | €80,201 | +€12,483 | +18.4% |
| Financial charges | 65/66B | €55,654 | €45,914 | -€9,740 | -17.5% |
| Recurring financial charges | 65 | €55,654 | €45,914 | -€9,740 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €12,065 | €34,287 | +€22,223 | +184% |
| Income taxes | 67/77 | €3,663 | €8,183 | +€4,519 | +123% |
| Profit (loss) for the period | 9904 | €8,401 | €26,105 | +€17,704 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €8,401 | €26,105 | +€17,704 | +211% |
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 25 October 2026 via checked.be.