Kowanco: 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.
Kowanco
Largest movements
- Cash +€15,808
up €15,808 (+172.4%), from €9,171 to €24,980
mainly Net result for the year (+€15,330) and Tax, wage and social debts (+€2,427)
- Receivables within one year +€3,261
up €3,261 (+37.1%), from €8,781 to €12,043
- Tangible fixed assets -€2,112
down €2,112 (-37.0%), from €5,706 to €3,594
- Reserves +€15,330
up €15,330 (+124.9%), from €12,275 to €27,605
- Tax, wage and social debts +€2,427
up €2,427 (+43.4%), from €5,591 to €8,019
- Trade debts -€845
down €845 (-90.6%), from €933 to €88
- Gross operating margin +€7,843
up €7,843 (+49.0%), from €16,000 to €23,842
- Taxes +€2,045
up €2,045 (+50.1%), from €4,084 to €6,129
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 | €23,658 | €40,617 | +€16,958 | +71.7% |
| Fixed assets | 21/28 | €5,706 | €3,594 | -€2,112 | -37.0% |
| Tangible fixed assets | 22/27 | €5,706 | €3,594 | -€2,112 | -37.0% |
| Furniture and vehicles | 24 | €5,706 | €3,594 | -€2,112 | -37.0% |
| Current assets | 29/58 | €17,952 | €37,022 | +€19,070 | +106.2% |
| Amounts receivable within one year | 40/41 | €8,781 | €12,043 | +€3,261 | +37.1% |
| Trade receivables | 40 | €8,781 | €12,043 | +€3,261 | +37.1% |
| Cash at bank and in hand | 54/58 | €9,171 | €24,980 | +€15,808 | +172.4% |
| Total equity and liabilities | 10/49 | €23,658 | €40,617 | +€16,958 | +71.7% |
| Equity | 10/15 | €15,275 | €30,605 | +€15,330 | +100.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,275 | €27,605 | +€15,330 | +124.9% |
| Distributable reserves | 133 | €12,275 | €27,605 | +€15,330 | +124.9% |
| Amounts payable | 17/49 | €8,383 | €10,012 | +€1,629 | +19.4% |
| Amounts payable within one year | 42/48 | €8,383 | €10,012 | +€1,629 | +19.4% |
| Trade debts | 44 | €933 | €88 | -€845 | -90.6% |
| Suppliers | 440/4 | €933 | €88 | -€845 | -90.6% |
| Taxes, remuneration and social security | 45 | €5,591 | €8,019 | +€2,427 | +43.4% |
| Taxes | 450/3 | €5,591 | €8,019 | +€2,427 | +43.4% |
| Other amounts payable | 47/48 | €1,859 | €1,906 | +€47 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,112 | €2,112 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €16,000 | €23,842 | +€7,843 | +49.0% |
| Operating profit (loss) | 9901 | €13,770 | €21,611 | +€7,841 | +56.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €30 | €152 | +€122 | +409.5% |
| Recurring financial charges | 65 | €30 | €152 | +€122 | +409.5% |
| Profit (loss) for the period before taxes | 9903 | €13,741 | €21,459 | +€7,718 | +56.2% |
| Income taxes | 67/77 | €4,084 | €6,129 | +€2,045 | +50.1% |
| Profit (loss) for the period | 9904 | €9,657 | €15,330 | +€5,672 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,657 | €15,330 | +€5,672 | +58.7% |
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 7 October 2026 via checked.be.