CONNECTED CONCEPT: 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.
CONNECTED CONCEPT
Largest movements
- Receivables within one year +€123,183
up €123,183 (+302%), from €40,812 to €163,995
of which Trade receivables: +€104,278
- Cash +€25,392
up €25,392 (+12.7%), from €199,661 to €225,053
mainly Net result for the year (+€97,499) and Trade debts (+€53,030)
- Reserves +€97,499
up €97,499 (+46.3%), from €210,631 to €308,130
- Trade debts +€53,030
up €53,030, from €0 to €53,030
- Gross operating margin -€8,519
down €8,519 (-5.6%), from €151,586 to €143,067
- Taxes -€2,632
down €2,632 (-6.1%), from €43,121 to €40,489
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 | €252,354 | €399,014 | +€146,660 | +58.1% |
| Fixed assets | 21/28 | €9,196 | €7,122 | -€2,074 | -22.6% |
| Tangible fixed assets | 22/27 | €9,196 | €7,122 | -€2,074 | -22.6% |
| Plant, machinery and equipment | 23 | €4,475 | €3,435 | -€1,040 | -23.2% |
| Furniture and vehicles | 24 | €4,721 | €3,687 | -€1,034 | -21.9% |
| Current assets | 29/58 | €243,157 | €391,891 | +€148,734 | +61.2% |
| Amounts receivable within one year | 40/41 | €40,812 | €163,995 | +€123,183 | +302% |
| Trade receivables | 40 | €19,857 | €124,135 | +€104,278 | +525% |
| Other amounts receivable | 41 | €20,955 | €39,860 | +€18,905 | +90.2% |
| Cash at bank and in hand | 54/58 | €199,661 | €225,053 | +€25,392 | +12.7% |
| Deferred charges and accrued income | 490/1 | €2,685 | €2,844 | +€159 | +5.9% |
| Total equity and liabilities | 10/49 | €252,354 | €399,014 | +€146,660 | +58.1% |
| Equity | 10/15 | €216,831 | €314,330 | +€97,499 | +45.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €210,631 | €308,130 | +€97,499 | +46.3% |
| Distributable reserves | 133 | €210,631 | €308,130 | +€97,499 | +46.3% |
| Amounts payable | 17/49 | €35,523 | €84,684 | +€49,161 | +138% |
| Amounts payable within one year | 42/48 | €35,523 | €84,684 | +€49,161 | +138% |
| Trade debts | 44 | €0 | €53,030 | +€53,030 | |
| Suppliers | 440/4 | €0 | €53,030 | +€53,030 | |
| Taxes, remuneration and social security | 45 | €35,523 | €31,654 | -€3,869 | -10.9% |
| Taxes | 450/3 | €35,523 | €31,654 | -€3,869 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,532 | €4,106 | -€426 | -9.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €151,586 | €143,067 | -€8,519 | -5.6% |
| Operating profit (loss) | 9901 | €146,666 | €138,561 | -€8,106 | -5.5% |
| Financial income | 75/76B | €788 | €946 | +€158 | +20.0% |
| Recurring financial income | 75 | €788 | €946 | +€158 | +20.0% |
| Financial charges | 65/66B | €415 | €1,519 | +€1,104 | +266% |
| Recurring financial charges | 65 | €415 | €1,519 | +€1,104 | +266% |
| Profit (loss) for the period before taxes | 9903 | €147,040 | €137,988 | -€9,052 | -6.2% |
| Income taxes | 67/77 | €43,121 | €40,489 | -€2,632 | -6.1% |
| Profit (loss) for the period | 9904 | €103,919 | €97,499 | -€6,420 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €103,919 | €97,499 | -€6,420 | -6.2% |
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.