Connec: 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.
Connec
Largest movements
- Cash -€81,375
down €81,375 (-97.4%), from €83,533 to €2,159
mainly Trade debts (-€214,260) and Net result for the year (-€77,427)
- Receivables within one year -€32,692
down €32,692 (-30.4%), from €107,599 to €74,908
of which Trade receivables: -€39,656
- Intangible fixed assets -€25,000
down €25,000 (-11.1%), from €224,932 to €199,932
- Trade debts -€214,260
down €214,260 (-72.2%), from €296,838 to €82,578
- Debts after one year +€135,175
up €135,175 (+56.3%), from €240,052 to €375,227
of which Other amounts payable: +€177,149
- Profit (loss) carried forward -€77,427
down €77,427 (-47.7%), from -€162,437 to -€239,865
- Current portion of long-term debt +€18,446
up €18,446 (+78.4%), from €23,528 to €41,974
- Tax, wage and social debts -€9,164
down €9,164 (-34.0%), from €26,916 to €17,752
of which Remuneration and social security: -€10,884
- Gross operating margin +€63,359
up €63,359, from -€20,715 to €42,643
- Staff costs -€29,573
down €29,573 (-27.3%), from €108,380 to €78,807
- Financial charges +€5,488
up €5,488 (+82.2%), from €6,678 to €12,166
- Depreciation +€2,383
up €2,383 (+8.9%), from €26,777 to €29,160
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 | €431,825 | €288,581 | -€143,244 | -33.2% |
| Formation expenses | 20 | €12,086 | €9,609 | -€2,477 | -20.5% |
| Fixed assets | 21/28 | €228,572 | €201,889 | -€26,683 | -11.7% |
| Intangible fixed assets | 21 | €224,932 | €199,932 | -€25,000 | -11.1% |
| Tangible fixed assets | 22/27 | €3,641 | €1,958 | -€1,683 | -46.2% |
| Furniture and vehicles | 24 | €3,641 | €1,958 | -€1,683 | -46.2% |
| Current assets | 29/58 | €191,166 | €77,083 | -€114,084 | -59.7% |
| Amounts receivable within one year | 40/41 | €107,599 | €74,908 | -€32,692 | -30.4% |
| Trade receivables | 40 | €65,994 | €26,338 | -€39,656 | -60.1% |
| Other amounts receivable | 41 | €41,605 | €48,569 | +€6,964 | +16.7% |
| Cash at bank and in hand | 54/58 | €83,533 | €2,159 | -€81,375 | -97.4% |
| Deferred charges and accrued income | 490/1 | €34 | €17 | -€17 | -51.0% |
| Total equity and liabilities | 10/49 | €431,825 | €288,581 | -€143,244 | -33.2% |
| Equity | 10/15 | -€156,437 | -€233,865 | -€77,427 | -49.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€162,437 | -€239,865 | -€77,427 | -47.7% |
| Amounts payable | 17/49 | €588,262 | €522,445 | -€65,816 | -11.2% |
| Amounts payable after more than one year | 17 | €240,052 | €375,227 | +€135,175 | +56.3% |
| Financial debts | 170/4 | €240,052 | €198,078 | -€41,974 | -17.5% |
| Other amounts payable | 178/9 | - | €177,149 | +€177,149 | |
| Amounts payable within one year | 42/48 | €347,397 | €142,893 | -€204,504 | -58.9% |
| Current portion of amounts payable after more than one year | 42 | €23,528 | €41,974 | +€18,446 | +78.4% |
| Financial debts | 43 | €117 | €589 | +€473 | +405% |
| Credit institutions | 430/8 | €117 | €589 | +€473 | +405% |
| Trade debts | 44 | €296,838 | €82,578 | -€214,260 | -72.2% |
| Suppliers | 440/4 | €296,838 | €82,578 | -€214,260 | -72.2% |
| Taxes, remuneration and social security | 45 | €26,916 | €17,752 | -€9,164 | -34.0% |
| Taxes | 450/3 | €1,892 | €3,613 | +€1,721 | +90.9% |
| Remuneration and social security | 454/9 | €25,024 | €14,139 | -€10,884 | -43.5% |
| Accrued charges and deferred income | 492/3 | €812 | €4,325 | +€3,513 | +433% |
| Remuneration, social security and pensions | 62 | €108,380 | €78,807 | -€29,573 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,777 | €29,160 | +€2,383 | +8.9% |
| Other operating charges | 640/8 | €189 | €121 | -€69 | -36.3% |
| Gross operating margin | 9900 | -€20,715 | €42,643 | +€63,359 | |
| Operating profit (loss) | 9901 | -€156,062 | -€65,445 | +€90,617 | +58.1% |
| Financial income | 75/76B | €415 | €366 | -€49 | -11.8% |
| Recurring financial income | 75 | €415 | €366 | -€49 | -11.8% |
| Financial charges | 65/66B | €6,678 | €12,166 | +€5,488 | +82.2% |
| Recurring financial charges | 65 | €6,678 | €12,166 | +€5,488 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | -€162,324 | -€77,244 | +€85,080 | +52.4% |
| Income taxes | 67/77 | €113 | €183 | +€70 | +62.4% |
| Profit (loss) for the period | 9904 | -€162,437 | -€77,427 | +€85,010 | +52.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€162,437 | -€77,427 | +€85,010 | +52.3% |
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 15 October 2026 via checked.be.