CHINA CONNECTION: 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.
CHINA CONNECTION
Largest movements
- Cash +€30,107
up €30,107 (+3440.3%), from €875 to €30,983
mainly Net result for the year (+€45,978) and Trade debts (+€7,638)
- Receivables within one year +€4,430
up €4,430 (+76.7%), from €5,775 to €10,205
of which Other amounts receivable: +€7,530
- Tangible fixed assets -€480
down €480 (-38.6%), from €1,244 to €763
- Profit (loss) carried forward +€45,978
up €45,978 (+38.4%), from -€119,722 to -€73,743
- Tax, wage and social debts -€12,003
down €12,003 (-38.1%), from €31,520 to €19,516
of which Taxes: -€13,003
- Trade debts +€7,638
up €7,638 (+209.1%), from €3,652 to €11,290
- Other debts -€7,556
down €7,556 (-14.6%), from €51,891 to €44,335
- Gross operating margin +€49,386
up €49,386 (+551.7%), from €8,951 to €58,337
- Financial charges +€3,490
up €3,490 (+409.5%), from €852 to €4,342
- Taxes +€2,069
up €2,069 (+462.4%), from €448 to €2,517
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 | €7,894 | €41,951 | +€34,057 | +431.4% |
| Fixed assets | 21/28 | €1,244 | €763 | -€480 | -38.6% |
| Tangible fixed assets | 22/27 | €1,244 | €763 | -€480 | -38.6% |
| Furniture and vehicles | 24 | €1,244 | €763 | -€480 | -38.6% |
| Current assets | 29/58 | €6,650 | €41,188 | +€34,537 | +519.3% |
| Amounts receivable within one year | 40/41 | €5,775 | €10,205 | +€4,430 | +76.7% |
| Trade receivables | 40 | €3,100 | - | -€3,100 | |
| Other amounts receivable | 41 | €2,675 | €10,205 | +€7,530 | +281.5% |
| Cash at bank and in hand | 54/58 | €875 | €30,983 | +€30,107 | +3440.3% |
| Total equity and liabilities | 10/49 | €7,894 | €41,951 | +€34,057 | +431.4% |
| Equity | 10/15 | -€79,169 | -€33,190 | +€45,978 | +58.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €553 | €553 | = | 0.0% |
| Non-distributable reserves | 130/1 | €553 | €553 | = | 0.0% |
| Reserves not available under the articles | 1311 | €553 | €553 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,722 | -€73,743 | +€45,978 | +38.4% |
| Amounts payable | 17/49 | €87,063 | €75,141 | -€11,922 | -13.7% |
| Amounts payable within one year | 42/48 | €87,063 | €75,141 | -€11,922 | -13.7% |
| Trade debts | 44 | €3,652 | €11,290 | +€7,638 | +209.1% |
| Suppliers | 440/4 | €3,652 | €11,290 | +€7,638 | +209.1% |
| Taxes, remuneration and social security | 45 | €31,520 | €19,516 | -€12,003 | -38.1% |
| Taxes | 450/3 | €31,020 | €18,016 | -€13,003 | -41.9% |
| Remuneration and social security | 454/9 | €500 | €1,500 | +€1,000 | +200.0% |
| Other amounts payable | 47/48 | €51,891 | €44,335 | -€7,556 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480 | €480 | = | 0.0% |
| Other operating charges | 640/8 | €4,526 | €5,020 | +€493 | +10.9% |
| Gross operating margin | 9900 | €8,951 | €58,337 | +€49,386 | +551.7% |
| Operating profit (loss) | 9901 | €3,945 | €52,838 | +€48,893 | +1239.5% |
| Financial income | 75/76B | €116 | - | -€116 | |
| Recurring financial income | 75 | €116 | - | -€116 | |
| Financial charges | 65/66B | €852 | €4,342 | +€3,490 | +409.5% |
| Recurring financial charges | 65 | €852 | €4,342 | +€3,490 | +409.5% |
| Profit (loss) for the period before taxes | 9903 | €3,208 | €48,495 | +€45,287 | +1411.6% |
| Income taxes | 67/77 | €448 | €2,517 | +€2,069 | +462.4% |
| Profit (loss) for the period | 9904 | €2,761 | €45,978 | +€43,218 | +1565.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,761 | €45,978 | +€43,218 | +1565.4% |
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 12 October 2026 via checked.be.