ASIA CONNECT: 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.
ASIA CONNECT
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash -€17,091
down €17,091 (-17.1%), from €99,914 to €82,823
mainly Contributions, distributions and other (-€66,418) and Net result for the year (-€35,484)
- Receivables within one year +€16,071
up €16,071 (+79.4%), from €20,230 to €36,301
of which Trade receivables: +€18,220
- Tangible fixed assets -€7,416
down €7,416 (-41.3%), from €17,962 to €10,546
of which Furniture and vehicles: -€7,056
- Reserves -€101,902
down €101,902 (-66.6%), from €152,900 to €50,998
- Other debts -€5,231
down €5,231 (-76.7%), from €6,823 to €1,592
- Short-term financial debts -€3,510
down €3,510 (-100.0%), from €3,511 to €1
- Tax, wage and social debts +€2,963
up €2,963 (+48.3%), from €6,129 to €9,092
of which Taxes: +€2,963
- Gross operating margin -€93,478
down €93,478, from €62,009 to -€31,469
- Taxes -€12,157
down €12,157 (-98.4%), from €12,350 to €193
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 | €239,828 | €130,870 | -€108,958 | -45.4% |
| Fixed assets | 21/28 | €17,962 | €10,546 | -€7,416 | -41.3% |
| Tangible fixed assets | 22/27 | €17,962 | €10,546 | -€7,416 | -41.3% |
| Plant, machinery and equipment | 23 | €63 | €0 | -€63 | -100% |
| Furniture and vehicles | 24 | €17,200 | €10,143 | -€7,056 | -41.0% |
| Other tangible fixed assets | 26 | €700 | €403 | -€297 | -42.5% |
| Current assets | 29/58 | €221,866 | €120,324 | -€101,542 | -45.8% |
| Amounts receivable within one year | 40/41 | €20,230 | €36,301 | +€16,071 | +79.4% |
| Trade receivables | 40 | €18,080 | €36,300 | +€18,220 | +101% |
| Other amounts receivable | 41 | €2,150 | €1 | -€2,149 | -99.9% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €99,914 | €82,823 | -€17,091 | -17.1% |
| Deferred charges and accrued income | 490/1 | €1,721 | €1,199 | -€522 | -30.3% |
| Total equity and liabilities | 10/49 | €239,828 | €130,870 | -€108,958 | -45.4% |
| Equity | 10/15 | €171,500 | €69,598 | -€101,902 | -59.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €152,900 | €50,998 | -€101,902 | -66.6% |
| Distributable reserves | 133 | €152,900 | €50,998 | -€101,902 | -66.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €68,328 | €61,272 | -€7,056 | -10.3% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,328 | €11,272 | -€7,056 | -38.5% |
| Financial debts | 43 | €3,511 | €1 | -€3,510 | -100.0% |
| Credit institutions | 430/8 | €3,511 | €1 | -€3,510 | -100.0% |
| Trade debts | 44 | €1,865 | €587 | -€1,278 | -68.5% |
| Suppliers | 440/4 | €1,865 | €587 | -€1,278 | -68.5% |
| Taxes, remuneration and social security | 45 | €6,129 | €9,092 | +€2,963 | +48.3% |
| Taxes | 450/3 | €6,129 | €9,092 | +€2,963 | +48.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,823 | €1,592 | -€5,231 | -76.7% |
| Non-recurring operating income | 76A | €1,280 | €983 | -€298 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,904 | €2,404 | -€500 | -17.2% |
| Other operating charges | 640/8 | €915 | €730 | -€185 | -20.2% |
| Gross operating margin | 9900 | €62,009 | -€31,469 | -€93,478 | |
| Operating profit (loss) | 9901 | €58,190 | -€34,603 | -€92,793 | |
| Financial income | 75/76B | €78 | €650 | +€572 | +735% |
| Recurring financial income | 75 | €78 | €650 | +€572 | +735% |
| Financial charges | 65/66B | €1,236 | €1,338 | +€102 | +8.3% |
| Recurring financial charges | 65 | €1,236 | €1,338 | +€102 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €57,032 | -€35,291 | -€92,323 | |
| Income taxes | 67/77 | €12,350 | €193 | -€12,157 | -98.4% |
| Profit (loss) for the period | 9904 | €44,682 | -€35,484 | -€80,166 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,682 | -€35,484 | -€80,166 |
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 20 October 2026 via checked.be.