Connected: 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.
Connected
Largest movements
- Current assets -€1.1m
down €1.1m (-4.9%), from €22.9m to €21.8m
- Fixed assets +€508,793
up €508,793 (+0.8%), from €61.6m to €62.1m
of which Tangible fixed assets: +€62.1m
- Debts -€293,986
down €293,986 (-1.3%), from €22.3m to €22.0m
- Provisions -€165,000
no longer reported in 2024 (was €165,000)
- Equity -€160,228
down €160,228 (-0.3%), from €62.0m to €61.9m
- Turnover +€410,459
up €410,459 (+6.9%), from €5.9m to €6.3m
- Services and other goods +€385,526
up €385,526 (+4.5%), from €8.5m to €8.9m
- Other operating income -€288,904
down €288,904 (-25.5%), from €1.1m to €842,417
- Goods and materials +€260,451
up €260,451 (+11.6%), from €2.2m to €2.5m
- Provisions -€115,000
no longer reported in 2024 (was €115,000)
From the 2023 result to the 2024 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Fixed assets | 21/28 | €61,558,667 | €62,067,460 | +€508,793 | +0.8% |
| Intangible fixed assets | 21 | - | €194 | +€194 | |
| Tangible fixed assets | 22/27 | - | €62,067,266 | +€62.1m | |
| Land and buildings | 22 | €1,261,283 | €1,175,703 | -€85,579 | -6.8% |
| Plant, machinery and equipment | 23 | - | €1,707,674 | +€1.7m | |
| Furniture and vehicles | 24 | €615,434 | €559,984 | -€55,449 | -9.0% |
| Leasing and similar rights | 25 | €13,790,778 | €14,156,316 | +€365,538 | +2.7% |
| Other tangible fixed assets | 26 | €40,851,359 | €43,506,440 | +€2.7m | +6.5% |
| Assets under construction and advance payments | 27 | €2,595,160 | €961,149 | -€1.6m | -63.0% |
| Current assets | 29/58 | €22,914,329 | €21,786,322 | -€1.1m | -4.9% |
| Other amounts receivable | 291 | €688,000 | - | -€688,000 | |
| Amounts receivable within one year | 40/41 | - | €5,069,633 | +€5.1m | |
| Trade receivables | 40 | €1,318,344 | €1,711,536 | +€393,193 | +29.8% |
| Other amounts receivable | 41 | - | €3,358,096 | +€3.4m | |
| Current investments | 50/53 | - | €12,000,272 | +€12.0m | |
| Cash at bank and in hand | 54/58 | - | €3,067,416 | +€3.1m | |
| Deferred charges and accrued income | 490/1 | - | €1,649,002 | +€1.6m | |
| Total equity and liabilities | 10/49 | €84,472,996 | €83,853,782 | -€619,214 | -0.7% |
| Equity | 10/15 | €62,021,037 | €61,860,809 | -€160,228 | -0.3% |
| Contributions | 10/11 | - | €10,472,287 | +€10.5m | |
| Capital | 10 | - | €10,472,287 | +€10.5m | |
| Reserves | 13 | - | €15,300,000 | +€15.3m | |
| Profit (loss) carried forward | 14 | - | €4,608,781 | +€4.6m | |
| Investment grants | 15 | - | €31,479,742 | +€31.5m | |
| Provisions and deferred taxes | 16 | €165,000 | - | -€165,000 | |
| Major repairs and maintenance | 162 | €50,000 | - | -€50,000 | |
| Amounts payable | 17/49 | €22,286,959 | €21,992,973 | -€293,986 | -1.3% |
| Amounts payable after more than one year | 17 | - | €17,924,294 | +€17.9m | |
| Financial debts | 170/4 | - | €17,924,294 | +€17.9m | |
| Leasing and similar obligations | 172 | €13,437,673 | €13,779,631 | +€341,957 | +2.5% |
| Credit institutions | 173 | €4,559,027 | €4,144,664 | -€414,363 | -9.1% |
| Amounts payable within one year | 42/48 | - | €3,876,512 | +€3.9m | |
| Current portion of amounts payable after more than one year | 42 | €964,490 | €815,050 | -€149,440 | -15.5% |
| Trade debts | 44 | - | €2,060,254 | +€2.1m | |
| Advances received on contracts in progress | 46 | €100,814 | €160,864 | +€60,051 | +59.6% |
| Taxes, remuneration and social security | 45 | €625,740 | €664,941 | +€39,201 | +6.3% |
| Taxes | 450/3 | - | €8,603 | +€8,603 | |
| Remuneration and social security | 454/9 | €625,740 | €656,338 | +€30,598 | +4.9% |
| Accrued charges and deferred income | 492/3 | - | €192,167 | +€192,167 | |
| Turnover | 70 | €5,926,140 | €6,336,599 | +€410,459 | +6.9% |
| Other operating income | 74 | €1,131,321 | €842,417 | -€288,904 | -25.5% |
| Goods for resale, raw materials and consumables | 60 | €2,242,751 | €2,503,202 | +€260,451 | +11.6% |
| Services and other goods | 61 | €8,544,015 | €8,929,541 | +€385,526 | +4.5% |
| Remuneration, social security and pensions | 62 | €5,633,353 | €5,581,288 | -€52,065 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,353,340 | €4,434,405 | +€81,065 | +1.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,899 | €102,576 | +€39,676 | +63.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €115,000 | - | -€115,000 | |
| Recurring financial income | 75 | - | €232,640 | +€232,640 | |
| Recurring financial charges | 65 | - | -€93,524 | -€93,524 |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2023 and 31 August 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.