AY CONNECTIONS: 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.
AY CONNECTIONS
Largest movements
- Cash -€37,722
down €37,722 (-43.6%), from €86,580 to €48,858
mainly Contributions, distributions and other (-€215,580) and Investment in fixed assets (net) (-€25,006)
- Tangible fixed assets +€13,056
up €13,056 (+30.4%), from €42,948 to €56,004
of which Furniture and vehicles: +€16,553
- Receivables within one year -€4,945
down €4,945 (-7.9%), from €62,280 to €57,335
of which Trade receivables: -€8,021
- Deferred charges and accrued income +€2,933
up €2,933 (+49.2%), from €5,964 to €8,897
- Reserves -€133,337
down €133,337 (-100%), from €133,337 to €0
- Other debts +€116,032
up €116,032 (+4,952%), from €2,343 to €118,376
- Contributions -€28,000
down €28,000 (-93.3%), from €30,000 to €2,000
- Debts after one year +€10,177
up €10,177 (+66.6%), from €15,271 to €25,449
- Tax, wage and social debts +€8,851
up €8,851 (+120%), from €7,378 to €16,230
of which Taxes: +€8,851
- Gross operating margin +€38,570
up €38,570 (+73.1%), from €52,755 to €91,325
- Taxes +€8,521
up €8,521 (+115%), from €7,378 to €15,899
- Other operating charges +€1,927
up €1,927 (+128%), from €1,503 to €3,430
- Depreciation -€1,763
down €1,763 (-12.9%), from €13,713 to €11,950
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 | €197,783 | €171,104 | -€26,678 | -13.5% |
| Fixed assets | 21/28 | €42,958 | €56,014 | +€13,056 | +30.4% |
| Tangible fixed assets | 22/27 | €42,948 | €56,004 | +€13,056 | +30.4% |
| Plant, machinery and equipment | 23 | €13,450 | €9,953 | -€3,497 | -26.0% |
| Furniture and vehicles | 24 | €29,498 | €46,051 | +€16,553 | +56.1% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €154,824 | €115,090 | -€39,734 | -25.7% |
| Amounts receivable within one year | 40/41 | €62,280 | €57,335 | -€4,945 | -7.9% |
| Trade receivables | 40 | €59,139 | €51,118 | -€8,021 | -13.6% |
| Other amounts receivable | 41 | €3,141 | €6,217 | +€3,076 | +97.9% |
| Cash at bank and in hand | 54/58 | €86,580 | €48,858 | -€37,722 | -43.6% |
| Deferred charges and accrued income | 490/1 | €5,964 | €8,897 | +€2,933 | +49.2% |
| Total equity and liabilities | 10/49 | €197,783 | €171,104 | -€26,678 | -13.5% |
| Equity | 10/15 | €163,337 | €2,000 | -€161,337 | -98.8% |
| Contributions | 10/11 | €30,000 | €2,000 | -€28,000 | -93.3% |
| Reserves | 13 | €133,337 | €0 | -€133,337 | -100% |
| Distributable reserves | 133 | €133,337 | €0 | -€133,337 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €34,446 | €169,104 | +€134,658 | +391% |
| Amounts payable after more than one year | 17 | €15,271 | €25,449 | +€10,177 | +66.6% |
| Financial debts | 170/4 | €15,271 | €25,449 | +€10,177 | +66.6% |
| Amounts payable within one year | 42/48 | €19,175 | €142,973 | +€123,798 | +646% |
| Current portion of amounts payable after more than one year | 42 | €8,242 | €7,454 | -€788 | -9.6% |
| Trade debts | 44 | €1,211 | €914 | -€298 | -24.6% |
| Suppliers | 440/4 | €1,211 | €914 | -€298 | -24.6% |
| Taxes, remuneration and social security | 45 | €7,378 | €16,230 | +€8,851 | +120% |
| Taxes | 450/3 | €7,378 | €16,230 | +€8,851 | +120% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,343 | €118,376 | +€116,032 | +4,952% |
| Accrued charges and deferred income | 492/3 | €0 | €683 | +€683 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,713 | €11,950 | -€1,763 | -12.9% |
| Other operating charges | 640/8 | €1,503 | €3,430 | +€1,927 | +128% |
| Non-recurring operating charges | 66A | - | €479 | +€479 | |
| Gross operating margin | 9900 | €52,755 | €91,325 | +€38,570 | +73.1% |
| Operating profit (loss) | 9901 | €37,539 | €75,466 | +€37,927 | +101% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €4,573 | €5,323 | +€750 | +16.4% |
| Recurring financial charges | 65 | €4,573 | €5,323 | +€750 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €32,967 | €70,143 | +€37,175 | +113% |
| Income taxes | 67/77 | €7,378 | €15,899 | +€8,521 | +115% |
| Profit (loss) for the period | 9904 | €25,589 | €54,243 | +€28,654 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €25,589 | €54,243 | +€28,654 | +112% |
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 20 October 2026 via checked.be.