Connectancy: what changed
Two fiscal 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.
Connectancy
Largest movements
- Current investments +€749,998
new in 2025: €749,998
- Financial fixed assets -€264,288
down €264,288 (-54.6%), from €484,288 to €220,000
- Profit (loss) carried forward +€624,184
up €624,184 (+171.4%), from €364,099 to €988,283
- Debts after one year -€126,607
down €126,607 (-59.4%), from €212,975 to €86,368
- Current portion of long-term debt -€59,020
down €59,020 (-87.6%), from €67,342 to €8,322
- Other debts +€30,000
up €30,000 (+85.7%), from €35,000 to €65,000
- Tax, wage and social debts +€21,205
up €21,205 (+160.8%), from €13,187 to €34,392
- Financial income +€713,350
up €713,350 (+1634997.7%), from €44 to €713,393
of which Non-recurring financial income: +€708,481
- Taxes +€193,536
up €193,536 (+510.0%), from €37,946 to €231,482
- Gross operating margin +€63,690
up €63,690 (+40.4%), from €157,578 to €221,268
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 | €710,014 | €1,198,848 | +€488,834 | +68.8% |
| Fixed assets | 21/28 | €642,540 | €381,288 | -€261,252 | -40.7% |
| Tangible fixed assets | 22/27 | €158,252 | €161,288 | +€3,036 | +1.9% |
| Land and buildings | 22 | €157,309 | €153,729 | -€3,580 | -2.3% |
| Plant, machinery and equipment | 23 | €673 | €1,334 | +€660 | +98.1% |
| Furniture and vehicles | 24 | €270 | €6,225 | +€5,955 | +2208.2% |
| Financial fixed assets | 28 | €484,288 | €220,000 | -€264,288 | -54.6% |
| Current assets | 29/58 | €67,474 | €817,560 | +€750,086 | +1111.7% |
| Amounts receivable within one year | 40/41 | €31,771 | €26,353 | -€5,418 | -17.1% |
| Trade receivables | 40 | €13,643 | €15,125 | +€1,482 | +10.9% |
| Other amounts receivable | 41 | €18,128 | €11,228 | -€6,900 | -38.1% |
| Current investments | 50/53 | - | €749,998 | +€749,998 | |
| Cash at bank and in hand | 54/58 | €35,704 | €39,224 | +€3,520 | +9.9% |
| Deferred charges and accrued income | 490/1 | - | €1,986 | +€1,986 | |
| Total equity and liabilities | 10/49 | €710,014 | €1,198,848 | +€488,834 | +68.8% |
| Equity | 10/15 | €374,099 | €998,283 | +€624,184 | +166.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €364,099 | €988,283 | +€624,184 | +171.4% |
| Amounts payable | 17/49 | €335,915 | €200,565 | -€135,350 | -40.3% |
| Amounts payable after more than one year | 17 | €212,975 | €86,368 | -€126,607 | -59.4% |
| Financial debts | 170/4 | €212,975 | €86,368 | -€126,607 | -59.4% |
| Amounts payable within one year | 42/48 | €122,939 | €114,197 | -€8,742 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €67,342 | €8,322 | -€59,020 | -87.6% |
| Trade debts | 44 | €7,410 | €6,483 | -€927 | -12.5% |
| Suppliers | 440/4 | €7,410 | €6,483 | -€927 | -12.5% |
| Taxes, remuneration and social security | 45 | €13,187 | €34,392 | +€21,205 | +160.8% |
| Taxes | 450/3 | €13,187 | €34,392 | +€21,205 | +160.8% |
| Other amounts payable | 47/48 | €35,000 | €65,000 | +€30,000 | +85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,120 | €6,157 | +€2,037 | +49.4% |
| Other operating charges | 640/8 | €1,451 | €2,024 | +€573 | +39.5% |
| Gross operating margin | 9900 | €157,578 | €221,268 | +€63,690 | +40.4% |
| Operating profit (loss) | 9901 | €152,007 | €213,087 | +€61,080 | +40.2% |
| Financial income | 75/76B | €44 | €713,393 | +€713,350 | +1634997.7% |
| Recurring financial income | 75 | €44 | €4,912 | +€4,869 | +11158.6% |
| Non-recurring financial income | 76B | - | €708,481 | +€708,481 | |
| Financial charges | 65/66B | €5,925 | €5,814 | -€111 | -1.9% |
| Recurring financial charges | 65 | €5,925 | €5,814 | -€111 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €146,126 | €920,666 | +€774,541 | +530.1% |
| Income taxes | 67/77 | €37,946 | €231,482 | +€193,536 | +510.0% |
| Profit (loss) for the period | 9904 | €108,179 | €689,184 | +€581,005 | +537.1% |
| Profit (loss) for the period to be appropriated | 9905 | €108,179 | €689,184 | +€581,005 | +537.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.