KOWATEC: 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.
KOWATEC
Largest movements
- Tangible fixed assets -€7,887
down €7,887 (-2.9%), from €272,044 to €264,157
of which Land and buildings: -€6,253
- Debts after one year -€29,371
down €29,371 (-15.6%), from €188,589 to €159,218
- Reserves +€7,243
up €7,243 (+14.8%), from €48,872 to €56,116
- Other debts +€7,000
new in 2025: €7,000
- Tax, wage and social debts +€5,914
up €5,914 (+83.3%), from €7,102 to €13,016
- Trade debts +€4,636
up €4,636 (+934.3%), from €496 to €5,132
- Gross operating margin -€36,477
down €36,477 (-44.3%), from €82,294 to €45,817
- Depreciation -€12,286
down €12,286 (-57.4%), from €21,416 to €9,130
- Financial charges -€12,122
down €12,122 (-56.0%), from €21,659 to €9,538
- Taxes -€3,655
down €3,655 (-38.3%), from €9,552 to €5,897
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 | €334,923 | €331,646 | -€3,277 | -1.0% |
| Fixed assets | 21/28 | €272,044 | €264,157 | -€7,887 | -2.9% |
| Tangible fixed assets | 22/27 | €272,044 | €264,157 | -€7,887 | -2.9% |
| Land and buildings | 22 | €264,853 | €258,600 | -€6,253 | -2.4% |
| Plant, machinery and equipment | 23 | €1,415 | €1,130 | -€285 | -20.2% |
| Furniture and vehicles | 24 | €5,775 | €4,427 | -€1,348 | -23.3% |
| Current assets | 29/58 | €62,880 | €67,489 | +€4,610 | +7.3% |
| Stocks and contracts in progress | 3 | €2,055 | €2,000 | -€55 | -2.7% |
| Stocks | 30/36 | €2,055 | €2,000 | -€55 | -2.7% |
| Amounts receivable within one year | 40/41 | €18,765 | €20,215 | +€1,450 | +7.7% |
| Trade receivables | 40 | €5,781 | €7,240 | +€1,458 | +25.2% |
| Other amounts receivable | 41 | €12,984 | €12,976 | -€8 | -0.1% |
| Cash at bank and in hand | 54/58 | €38,762 | €41,860 | +€3,099 | +8.0% |
| Deferred charges and accrued income | 490/1 | €3,298 | €3,414 | +€116 | +3.5% |
| Total equity and liabilities | 10/49 | €334,923 | €331,646 | -€3,277 | -1.0% |
| Equity | 10/15 | €110,666 | €117,909 | +€7,243 | +6.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €48,872 | €56,116 | +€7,243 | +14.8% |
| Distributable reserves | 133 | €48,872 | €56,116 | +€7,243 | +14.8% |
| Profit (loss) carried forward | 14 | €21,794 | €21,794 | = | 0.0% |
| Amounts payable | 17/49 | €224,257 | €213,737 | -€10,521 | -4.7% |
| Amounts payable after more than one year | 17 | €188,589 | €159,218 | -€29,371 | -15.6% |
| Financial debts | 170/4 | €188,589 | €159,218 | -€29,371 | -15.6% |
| Amounts payable within one year | 42/48 | €35,668 | €54,519 | +€18,851 | +52.8% |
| Current portion of amounts payable after more than one year | 42 | €28,070 | €29,371 | +€1,301 | +4.6% |
| Trade debts | 44 | €496 | €5,132 | +€4,636 | +934.3% |
| Suppliers | 440/4 | €496 | €5,132 | +€4,636 | +934.3% |
| Taxes, remuneration and social security | 45 | €7,102 | €13,016 | +€5,914 | +83.3% |
| Taxes | 450/3 | €7,102 | €13,016 | +€5,914 | +83.3% |
| Other amounts payable | 47/48 | - | €7,000 | +€7,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,416 | €9,130 | -€12,286 | -57.4% |
| Other operating charges | 640/8 | €7,258 | €7,743 | +€485 | +6.7% |
| Gross operating margin | 9900 | €82,294 | €45,817 | -€36,477 | -44.3% |
| Operating profit (loss) | 9901 | €53,620 | €28,944 | -€24,676 | -46.0% |
| Financial income | 75/76B | €764 | €734 | -€30 | -3.9% |
| Recurring financial income | 75 | €764 | €734 | -€30 | -3.9% |
| Financial charges | 65/66B | €21,659 | €9,538 | -€12,122 | -56.0% |
| Recurring financial charges | 65 | €21,659 | €9,538 | -€12,122 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €32,725 | €20,141 | -€12,584 | -38.5% |
| Income taxes | 67/77 | €9,552 | €5,897 | -€3,655 | -38.3% |
| Profit (loss) for the period | 9904 | €23,172 | €14,243 | -€8,929 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,172 | €14,243 | -€8,929 | -38.5% |
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.