J.KOWA: 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.
J.KOWA
Largest movements
- Cash -€61,023
down €61,023 (-82.7%), from €73,752 to €12,729
mainly Contributions, distributions and other (-€96,112) and Tax, wage and social debts (-€13,654)
- Receivables within one year -€41,983
down €41,983 (-98.5%), from €42,618 to €635
of which Other amounts receivable: -€27,460
- Reserves -€96,112
no longer reported in 2025 (was €96,112)
- Tax, wage and social debts -€13,654
down €13,654 (-85.8%), from €15,918 to €2,264
of which Taxes: -€10,559
- Profit (loss) carried forward +€5,748
new in 2025: €5,748
- Gross operating margin -€64,219
down €64,219 (-87.8%), from €73,165 to €8,946
- Taxes -€11,481
down €11,481 (-78.7%), from €14,590 to €3,109
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 | €116,370 | €13,364 | -€103,006 | -88.5% |
| Current assets | 29/58 | €116,370 | €13,364 | -€103,006 | -88.5% |
| Amounts receivable within one year | 40/41 | €42,618 | €635 | -€41,983 | -98.5% |
| Trade receivables | 40 | €15,005 | €482 | -€14,523 | -96.8% |
| Other amounts receivable | 41 | €27,614 | €154 | -€27,460 | -99.4% |
| Cash at bank and in hand | 54/58 | €73,752 | €12,729 | -€61,023 | -82.7% |
| Total equity and liabilities | 10/49 | €116,370 | €13,364 | -€103,006 | -88.5% |
| Equity | 10/15 | €100,112 | €9,748 | -€90,364 | -90.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €96,112 | - | -€96,112 | |
| Distributable reserves | 133 | €96,112 | - | -€96,112 | |
| Profit (loss) carried forward | 14 | - | €5,748 | +€5,748 | |
| Amounts payable | 17/49 | €16,258 | €3,617 | -€12,641 | -77.8% |
| Amounts payable within one year | 42/48 | €16,258 | €3,617 | -€12,641 | -77.8% |
| Trade debts | 44 | €340 | €870 | +€529 | +156% |
| Suppliers | 440/4 | €340 | €870 | +€529 | +156% |
| Taxes, remuneration and social security | 45 | €15,918 | €2,264 | -€13,654 | -85.8% |
| Taxes | 450/3 | €12,823 | €2,264 | -€10,559 | -82.3% |
| Remuneration and social security | 454/9 | €3,094 | - | -€3,094 | |
| Other amounts payable | 47/48 | - | €483 | +€483 | |
| Gross operating margin | 9900 | €73,165 | €8,946 | -€64,219 | -87.8% |
| Operating profit (loss) | 9901 | €73,165 | €8,946 | -€64,219 | -87.8% |
| Financial charges | 65/66B | €217 | €89 | -€128 | -58.8% |
| Recurring financial charges | 65 | €217 | €89 | -€128 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | €72,948 | €8,856 | -€64,092 | -87.9% |
| Income taxes | 67/77 | €14,590 | €3,109 | -€11,481 | -78.7% |
| Profit (loss) for the period | 9904 | €58,359 | €5,748 | -€52,611 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,359 | €5,748 | -€52,611 | -90.2% |
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 23 October 2026 via checked.be.