BD-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.
BD-CONNECT
Largest movements
- Receivables within one year -€86,188
down €86,188 (-28.9%), from €297,809 to €211,621
of which Trade receivables: -€124,513
- Deferred charges and accrued income +€13,061
up €13,061 (+328%), from €3,987 to €17,048
- Tangible fixed assets +€10,865
up €10,865 (+285%), from €3,814 to €14,679
of which Plant, machinery and equipment: +€12,473
- Cash +€7,073
up €7,073 (+210%), from €3,360 to €10,433
mainly Receivables within one year (+€86,188) and Advances received (+€38,800)
- Short-term financial debts -€94,686
down €94,686 (-80.4%), from €117,715 to €23,030
- Advances received +€38,800
new in 2025: €38,800
- Tax, wage and social debts +€9,837
up €9,837 (+24.8%), from €39,658 to €49,495
of which Remuneration and social security: +€18,861
- Profit (loss) carried forward -€5,366
down €5,366 (-5.8%), from €93,235 to €87,868
- Trade debts -€3,774
down €3,774 (-10.8%), from €35,097 to €31,323
- Staff costs +€49,588
up €49,588 (+33.0%), from €150,367 to €199,954
- Gross operating margin +€33,212
up €33,212 (+18.4%), from €180,608 to €213,820
- Financial charges +€12,495
up €12,495 (+326%), from €3,833 to €16,328
- Taxes -€8,244
down €8,244 (-93.1%), from €8,857 to €613
- Financial income +€3,279
new in 2025: €3,279
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 | €309,769 | €254,580 | -€55,190 | -17.8% |
| Fixed assets | 21/28 | €4,614 | €15,479 | +€10,865 | +236% |
| Tangible fixed assets | 22/27 | €3,814 | €14,679 | +€10,865 | +285% |
| Plant, machinery and equipment | 23 | €1,755 | €14,228 | +€12,473 | +711% |
| Furniture and vehicles | 24 | €2,058 | €451 | -€1,608 | -78.1% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €305,156 | €239,101 | -€66,055 | -21.6% |
| Amounts receivable within one year | 40/41 | €297,809 | €211,621 | -€86,188 | -28.9% |
| Trade receivables | 40 | €246,934 | €122,421 | -€124,513 | -50.4% |
| Other amounts receivable | 41 | €50,875 | €89,199 | +€38,324 | +75.3% |
| Cash at bank and in hand | 54/58 | €3,360 | €10,433 | +€7,073 | +210% |
| Deferred charges and accrued income | 490/1 | €3,987 | €17,048 | +€13,061 | +328% |
| Total equity and liabilities | 10/49 | €309,769 | €254,580 | -€55,190 | -17.8% |
| Equity | 10/15 | €117,298 | €111,932 | -€5,366 | -4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,864 | €17,864 | = | 0.0% |
| Distributable reserves | 133 | €17,864 | €17,864 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,235 | €87,868 | -€5,366 | -5.8% |
| Amounts payable | 17/49 | €192,471 | €142,648 | -€49,823 | -25.9% |
| Amounts payable within one year | 42/48 | €192,471 | €142,648 | -€49,823 | -25.9% |
| Financial debts | 43 | €117,715 | €23,030 | -€94,686 | -80.4% |
| Credit institutions | 430/8 | €117,715 | €23,030 | -€94,686 | -80.4% |
| Trade debts | 44 | €35,097 | €31,323 | -€3,774 | -10.8% |
| Suppliers | 440/4 | €35,097 | €31,323 | -€3,774 | -10.8% |
| Advances received on contracts in progress | 46 | - | €38,800 | +€38,800 | |
| Taxes, remuneration and social security | 45 | €39,658 | €49,495 | +€9,837 | +24.8% |
| Taxes | 450/3 | €18,789 | €9,765 | -€9,024 | -48.0% |
| Remuneration and social security | 454/9 | €20,869 | €39,730 | +€18,861 | +90.4% |
| Non-recurring operating income | 76A | €9,091 | €33,058 | +€23,967 | +264% |
| Remuneration, social security and pensions | 62 | €150,367 | €199,954 | +€49,588 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,896 | €2,710 | -€186 | -6.4% |
| Other operating charges | 640/8 | €2,525 | €2,860 | +€336 | +13.3% |
| Gross operating margin | 9900 | €180,608 | €213,820 | +€33,212 | +18.4% |
| Operating profit (loss) | 9901 | €24,821 | €8,296 | -€16,525 | -66.6% |
| Financial income | 75/76B | - | €3,279 | +€3,279 | |
| Recurring financial income | 75 | - | €3,279 | +€3,279 | |
| Financial charges | 65/66B | €3,833 | €16,328 | +€12,495 | +326% |
| Recurring financial charges | 65 | €3,833 | €16,328 | +€12,495 | +326% |
| Profit (loss) for the period before taxes | 9903 | €20,988 | -€4,753 | -€25,741 | |
| Income taxes | 67/77 | €8,857 | €613 | -€8,244 | -93.1% |
| Profit (loss) for the period | 9904 | €12,130 | -€5,366 | -€17,497 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,130 | -€5,366 | -€17,497 |
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 16 October 2026 via checked.be.