CONEC: 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.
CONEC
Largest movements
- Receivables within one year +€66,368
up €66,368 (+290%), from €22,865 to €89,234
of which Trade receivables: +€37,031
- Cash -€30,878
down €30,878 (-45.3%), from €68,133 to €37,256
mainly Receivables within one year (-€66,368) and Deferred charges and accrued income (-€11,530)
- Deferred charges and accrued income +€11,530
up €11,530 (+926%), from €1,245 to €12,775
- Stocks and contracts +€3,900
new in 2025: €3,900
- Tax, wage and social debts +€51,988
up €51,988 (+135%), from €38,570 to €90,558
of which Remuneration and social security: +€37,787
- Trade debts +€4,391
up €4,391 (+257%), from €1,707 to €6,098
- Profit (loss) carried forward -€4,053
down €4,053 (-55.9%), from €7,255 to €3,201
- Staff costs +€248,030
up €248,030 (+734%), from €33,788 to €281,817
- Gross operating margin +€189,477
up €189,477 (+186%), from €102,008 to €291,486
- Taxes -€10,224
down €10,224 (-59.7%), from €17,122 to €6,898
- Other operating charges +€4,705
up €4,705 (+549%), from €856 to €5,562
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 | €94,532 | €146,857 | +€52,325 | +55.4% |
| Fixed assets | 21/28 | €2,288 | €3,693 | +€1,404 | +61.4% |
| Tangible fixed assets | 22/27 | €2,083 | €3,308 | +€1,224 | +58.8% |
| Furniture and vehicles | 24 | €2,083 | €3,308 | +€1,224 | +58.8% |
| Financial fixed assets | 28 | €205 | €385 | +€180 | +87.8% |
| Current assets | 29/58 | €92,243 | €143,164 | +€50,921 | +55.2% |
| Stocks and contracts in progress | 3 | - | €3,900 | +€3,900 | |
| Stocks | 30/36 | - | €3,900 | +€3,900 | |
| Amounts receivable within one year | 40/41 | €22,865 | €89,234 | +€66,368 | +290% |
| Trade receivables | 40 | €17,004 | €54,035 | +€37,031 | +218% |
| Other amounts receivable | 41 | €5,861 | €35,199 | +€29,337 | +501% |
| Cash at bank and in hand | 54/58 | €68,133 | €37,256 | -€30,878 | -45.3% |
| Deferred charges and accrued income | 490/1 | €1,245 | €12,775 | +€11,530 | +926% |
| Total equity and liabilities | 10/49 | €94,532 | €146,857 | +€52,325 | +55.4% |
| Equity | 10/15 | €54,255 | €50,201 | -€4,053 | -7.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,255 | €3,201 | -€4,053 | -55.9% |
| Amounts payable | 17/49 | €40,277 | €96,656 | +€56,379 | +140% |
| Amounts payable within one year | 42/48 | €40,277 | €96,656 | +€56,379 | +140% |
| Trade debts | 44 | €1,707 | €6,098 | +€4,391 | +257% |
| Suppliers | 440/4 | €1,707 | €6,098 | +€4,391 | +257% |
| Taxes, remuneration and social security | 45 | €38,570 | €90,558 | +€51,988 | +135% |
| Taxes | 450/3 | €32,901 | €47,103 | +€14,201 | +43.2% |
| Remuneration and social security | 454/9 | €5,669 | €43,456 | +€37,787 | +667% |
| Non-recurring operating income | 76A | - | €774 | +€774 | |
| Remuneration, social security and pensions | 62 | €33,788 | €281,817 | +€248,030 | +734% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,018 | €1,682 | +€664 | +65.2% |
| Other operating charges | 640/8 | €856 | €5,562 | +€4,705 | +549% |
| Gross operating margin | 9900 | €102,008 | €291,486 | +€189,477 | +186% |
| Operating profit (loss) | 9901 | €66,346 | €2,424 | -€63,922 | -96.3% |
| Financial income | 75/76B | €13 | €1,005 | +€991 | +7,359% |
| Recurring financial income | 75 | €13 | €1,005 | +€991 | +7,359% |
| Financial charges | 65/66B | €493 | €584 | +€91 | +18.5% |
| Recurring financial charges | 65 | €493 | €584 | +€91 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €65,866 | €2,845 | -€63,022 | -95.7% |
| Income taxes | 67/77 | €17,122 | €6,898 | -€10,224 | -59.7% |
| Profit (loss) for the period | 9904 | €48,744 | -€4,053 | -€52,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,744 | -€4,053 | -€52,798 |
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 13 October 2026 via checked.be.