Connect IBS: 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 IBS
Largest movements
- Receivables within one year -€317,228
down €317,228 (-78.4%), from €404,731 to €87,504
of which Trade receivables: -€201,526
- Cash -€154,428
down €154,428 (-78.5%), from €196,634 to €42,207
mainly Short-term financial debts (-€470,000) and Accrued charges and deferred income (-€102,104)
- Deferred charges and accrued income -€89,664
down €89,664 (-87.1%), from €102,901 to €13,237
- Stocks and contracts -€23,661
down €23,661 (-81.2%), from €29,124 to €5,463
- Tangible fixed assets -€11,774
down €11,774 (-37.6%), from €31,275 to €19,501
of which Furniture and vehicles: -€11,994
- Short-term financial debts -€470,000
down €470,000 (-75.8%), from €620,000 to €150,000
- Accrued charges and deferred income -€102,104
down €102,104 (-98.8%), from €103,325 to €1,221
- Other debts -€27,941
down €27,941 (-77.2%), from €36,199 to €8,258
- Debts after one year -€8,167
down €8,167 (-38.6%), from €21,137 to €12,970
- Profit (loss) carried forward +€7,857
up €7,857 (+25.0%), from -€31,435 to -€23,578
- Gross operating margin +€25,546
up €25,546 (+296%), from €8,620 to €34,166
- Financial charges -€23,523
down €23,523 (-69.5%), from €33,854 to €10,331
of which Financial charges: -€20,952
- Financial income -€4,620
down €4,620 (-73.6%), from €6,276 to €1,656
- Staff costs +€2,560
new in 2025: €2,560
- Taxes -€1,685
down €1,685 (-96.1%), from €1,753 to €68
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 | €765,166 | €168,411 | -€596,755 | -78.0% |
| Fixed assets | 21/28 | €31,775 | €20,001 | -€11,774 | -37.1% |
| Tangible fixed assets | 22/27 | €31,275 | €19,501 | -€11,774 | -37.6% |
| Plant, machinery and equipment | 23 | €468 | €688 | +€220 | +47.0% |
| Furniture and vehicles | 24 | €30,807 | €18,813 | -€11,994 | -38.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €733,391 | €148,410 | -€584,981 | -79.8% |
| Stocks and contracts in progress | 3 | €29,124 | €5,463 | -€23,661 | -81.2% |
| Stocks | 30/36 | €29,124 | €5,463 | -€23,661 | -81.2% |
| Amounts receivable within one year | 40/41 | €404,731 | €87,504 | -€317,228 | -78.4% |
| Trade receivables | 40 | €244,118 | €42,592 | -€201,526 | -82.6% |
| Other amounts receivable | 41 | €160,613 | €44,911 | -€115,702 | -72.0% |
| Cash at bank and in hand | 54/58 | €196,634 | €42,207 | -€154,428 | -78.5% |
| Deferred charges and accrued income | 490/1 | €102,901 | €13,237 | -€89,664 | -87.1% |
| Total equity and liabilities | 10/49 | €765,166 | €168,411 | -€596,755 | -78.0% |
| Equity | 10/15 | -€28,435 | -€20,578 | +€7,857 | +27.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,435 | -€23,578 | +€7,857 | +25.0% |
| Amounts payable | 17/49 | €793,601 | €188,989 | -€604,612 | -76.2% |
| Amounts payable after more than one year | 17 | €21,137 | €12,970 | -€8,167 | -38.6% |
| Financial debts | 170/4 | €21,137 | €12,970 | -€8,167 | -38.6% |
| Amounts payable within one year | 42/48 | €669,138 | €174,797 | -€494,341 | -73.9% |
| Current portion of amounts payable after more than one year | 42 | €7,804 | €8,167 | +€364 | +4.7% |
| Financial debts | 43 | €620,000 | €150,000 | -€470,000 | -75.8% |
| Other loans | 439 | €620,000 | €150,000 | -€470,000 | -75.8% |
| Taxes, remuneration and social security | 45 | €5,136 | €8,372 | +€3,236 | +63.0% |
| Taxes | 450/3 | €3,436 | €4,113 | +€678 | +19.7% |
| Remuneration and social security | 454/9 | €1,700 | €4,259 | +€2,559 | +151% |
| Other amounts payable | 47/48 | €36,199 | €8,258 | -€27,941 | -77.2% |
| Accrued charges and deferred income | 492/3 | €103,325 | €1,221 | -€102,104 | -98.8% |
| Remuneration, social security and pensions | 62 | - | €2,560 | +€2,560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,581 | €13,656 | -€925 | -6.3% |
| Other operating charges | 640/8 | €1,813 | €1,350 | -€463 | -25.5% |
| Gross operating margin | 9900 | €8,620 | €34,166 | +€25,546 | +296% |
| Operating profit (loss) | 9901 | -€7,774 | €16,600 | +€24,374 | |
| Financial income | 75/76B | €6,276 | €1,656 | -€4,620 | -73.6% |
| Recurring financial income | 75 | €6,276 | €1,656 | -€4,620 | -73.6% |
| Financial charges | 65/66B | €33,854 | €10,331 | -€23,523 | -69.5% |
| Recurring financial charges | 65 | €31,282 | €10,331 | -€20,952 | -67.0% |
| Non-recurring financial charges | 66B | €2,571 | - | -€2,571 | |
| Profit (loss) for the period before taxes | 9903 | -€35,351 | €7,926 | +€43,277 | |
| Income taxes | 67/77 | €1,753 | €68 | -€1,685 | -96.1% |
| Profit (loss) for the period | 9904 | -€37,104 | €7,857 | +€44,962 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,104 | €7,857 | +€44,962 |
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.