Connect & Consulting: 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.
Connect & Consulting
Largest movements
- Cash -€82,918
down €82,918 (-55.8%), from €148,498 to €65,580
mainly Other debts (-€100,000) and Accrued charges and deferred income (-€65,184)
- Tangible fixed assets -€28,718
down €28,718 (-17.4%), from €165,066 to €136,349
of which Other tangible fixed assets: -€23,267
- Receivables within one year +€27,821
up €27,821 (+38.7%), from €71,816 to €99,637
of which Trade receivables: +€79,120
- Other debts -€100,000
no longer reported in 2025 (was €100,000)
- Accrued charges and deferred income -€65,184
down €65,184 (-98.0%), from €66,500 to €1,316
- Trade debts +€30,997
up €30,997 (+347%), from €8,923 to €39,920
- Tax, wage and social debts +€28,570
up €28,570 (+284%), from €10,053 to €38,623
- Profit (loss) carried forward +€22,257
up €22,257 (+11.1%), from €200,220 to €222,476
- Gross operating margin -€137,061
down €137,061 (-62.9%), from €217,812 to €80,751
- Taxes -€26,561
down €26,561 (-58.5%), from €45,418 to €18,857
- Financial income +€4,571
up €4,571 (+295%), from €1,552 to €6,123
of which Non-recurring financial income: +€3,874
- Depreciation +€2,204
up €2,204 (+7.1%), from €30,963 to €33,167
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 | €385,796 | €302,435 | -€83,361 | -21.6% |
| Fixed assets | 21/28 | €165,066 | €136,349 | -€28,718 | -17.4% |
| Tangible fixed assets | 22/27 | €165,066 | €136,349 | -€28,718 | -17.4% |
| Plant, machinery and equipment | 23 | €3,627 | €1,880 | -€1,747 | -48.2% |
| Furniture and vehicles | 24 | €16,392 | €12,687 | -€3,705 | -22.6% |
| Other tangible fixed assets | 26 | €145,048 | €121,781 | -€23,267 | -16.0% |
| Current assets | 29/58 | €220,730 | €166,087 | -€54,643 | -24.8% |
| Amounts receivable within one year | 40/41 | €71,816 | €99,637 | +€27,821 | +38.7% |
| Trade receivables | 40 | €9,817 | €88,937 | +€79,120 | +806% |
| Other amounts receivable | 41 | €61,999 | €10,700 | -€51,298 | -82.7% |
| Cash at bank and in hand | 54/58 | €148,498 | €65,580 | -€82,918 | -55.8% |
| Deferred charges and accrued income | 490/1 | €416 | €870 | +€454 | +109% |
| Total equity and liabilities | 10/49 | €385,796 | €302,435 | -€83,361 | -21.6% |
| Equity | 10/15 | €200,320 | €222,576 | +€22,257 | +11.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,220 | €222,476 | +€22,257 | +11.1% |
| Amounts payable | 17/49 | €185,476 | €79,859 | -€105,617 | -56.9% |
| Amounts payable within one year | 42/48 | €118,976 | €78,543 | -€40,434 | -34.0% |
| Trade debts | 44 | €8,923 | €39,920 | +€30,997 | +347% |
| Suppliers | 440/4 | €8,923 | €39,920 | +€30,997 | +347% |
| Taxes, remuneration and social security | 45 | €10,053 | €38,623 | +€28,570 | +284% |
| Taxes | 450/3 | €10,053 | €38,623 | +€28,570 | +284% |
| Other amounts payable | 47/48 | €100,000 | - | -€100,000 | |
| Accrued charges and deferred income | 492/3 | €66,500 | €1,316 | -€65,184 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,963 | €33,167 | +€2,204 | +7.1% |
| Other operating charges | 640/8 | €1,092 | €2,283 | +€1,191 | +109% |
| Non-recurring operating charges | 66A | €13,768 | - | -€13,768 | |
| Gross operating margin | 9900 | €217,812 | €80,751 | -€137,061 | -62.9% |
| Operating profit (loss) | 9901 | €171,989 | €45,301 | -€126,688 | -73.7% |
| Financial income | 75/76B | €1,552 | €6,123 | +€4,571 | +295% |
| Recurring financial income | 75 | €1,552 | €2,249 | +€697 | +44.9% |
| Non-recurring financial income | 76B | - | €3,874 | +€3,874 | |
| Financial charges | 65/66B | €9,992 | €10,311 | +€318 | +3.2% |
| Recurring financial charges | 65 | €6,479 | €5,601 | -€879 | -13.6% |
| Non-recurring financial charges | 66B | €3,513 | €4,710 | +€1,197 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €163,549 | €41,114 | -€122,435 | -74.9% |
| Income taxes | 67/77 | €45,418 | €18,857 | -€26,561 | -58.5% |
| Profit (loss) for the period | 9904 | €118,131 | €22,257 | -€95,874 | -81.2% |
| Profit (loss) for the period to be appropriated | 9905 | €118,131 | €22,257 | -€95,874 | -81.2% |
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.