Connecting Insights: what changed
Connecting Insights
Largest movements
- Receivables within one year -€50,689
down €50,689 (-61.3%), from €82,742 to €32,052
of which Other amounts receivable: -€58,870
- Deferred charges and accrued income +€30,148
up €30,148 (+1,341%), from €2,249 to €32,397
- Receivables after one year -€18,900
down €18,900 (-100%), from €18,900 to €0
- Current investments -€18,268
down €18,268 (-21.4%), from €85,523 to €67,255
- Cash -€5,717
down €5,717 (-13.2%), from €43,185 to €37,468
mainly Contributions, distributions and other (-€197,290) and Deferred charges and accrued income (-€30,148)
- Reserves -€64,558
down €64,558 (-32.7%), from €197,290 to €132,732
- Tax, wage and social debts -€3,716
down €3,716 (-10.5%), from €35,359 to €31,643
of which Taxes: -€6,210
- Gross operating margin +€73,286
up €73,286 (+68.5%), from €106,966 to €180,252
- Taxes +€18,005
up €18,005 (+78.9%), from €22,824 to €40,830
- Financial income -€11,169
down €11,169 (-80.6%), from €13,863 to €2,694
- Financial charges +€2,463
up €2,463 (+113%), from €2,174 to €4,637
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,421 | €173,746 | -€64,675 | -27.1% |
| Fixed assets | 21/28 | €5,823 | €4,573 | -€1,249 | -21.5% |
| Tangible fixed assets | 22/27 | €5,823 | €4,573 | -€1,249 | -21.5% |
| Plant, machinery and equipment | 23 | €842 | €482 | -€360 | -42.7% |
| Furniture and vehicles | 24 | €4,981 | €4,091 | -€890 | -17.9% |
| Current assets | 29/58 | €232,599 | €169,173 | -€63,426 | -27.3% |
| Amounts receivable after more than one year | 29 | €18,900 | €0 | -€18,900 | -100% |
| Other amounts receivable | 291 | €18,900 | €0 | -€18,900 | -100% |
| Amounts receivable within one year | 40/41 | €82,742 | €32,052 | -€50,689 | -61.3% |
| Trade receivables | 40 | €13,872 | €22,052 | +€8,181 | +59.0% |
| Other amounts receivable | 41 | €68,870 | €10,000 | -€58,870 | -85.5% |
| Current investments | 50/53 | €85,523 | €67,255 | -€18,268 | -21.4% |
| Cash at bank and in hand | 54/58 | €43,185 | €37,468 | -€5,717 | -13.2% |
| Deferred charges and accrued income | 490/1 | €2,249 | €32,397 | +€30,148 | +1,341% |
| Total equity and liabilities | 10/49 | €238,421 | €173,746 | -€64,675 | -27.1% |
| Equity | 10/15 | €198,290 | €133,732 | -€64,558 | -32.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €197,290 | €132,732 | -€64,558 | -32.7% |
| Distributable reserves | 133 | €197,290 | €132,732 | -€64,558 | -32.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €40,131 | €40,014 | -€117 | -0.3% |
| Amounts payable after more than one year | 17 | €131 | €925 | +€795 | +608% |
| Financial debts | 170/4 | €131 | €925 | +€795 | +608% |
| Amounts payable within one year | 42/48 | €40,001 | €38,426 | -€1,575 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €1,527 | €1,482 | -€44 | -2.9% |
| Trade debts | 44 | €3,115 | €3,113 | -€2 | -0.1% |
| Suppliers | 440/4 | €3,115 | €3,113 | -€2 | -0.1% |
| Taxes, remuneration and social security | 45 | €35,359 | €31,643 | -€3,716 | -10.5% |
| Taxes | 450/3 | €32,301 | €26,091 | -€6,210 | -19.2% |
| Remuneration and social security | 454/9 | €3,058 | €5,552 | +€2,494 | +81.5% |
| Other amounts payable | 47/48 | - | €2,187 | +€2,187 | |
| Accrued charges and deferred income | 492/3 | - | €663 | +€663 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,331 | €3,968 | +€637 | +19.1% |
| Other operating charges | 640/8 | €370 | €780 | +€410 | +111% |
| Gross operating margin | 9900 | €106,966 | €180,252 | +€73,286 | +68.5% |
| Operating profit (loss) | 9901 | €103,265 | €175,504 | +€72,239 | +70.0% |
| Financial income | 75/76B | €13,863 | €2,694 | -€11,169 | -80.6% |
| Recurring financial income | 75 | €13,863 | €2,694 | -€11,169 | -80.6% |
| Financial charges | 65/66B | €2,174 | €4,637 | +€2,463 | +113% |
| Recurring financial charges | 65 | €2,174 | €4,637 | +€2,463 | +113% |
| Profit (loss) for the period before taxes | 9903 | €114,954 | €173,562 | +€58,608 | +51.0% |
| Income taxes | 67/77 | €22,824 | €40,830 | +€18,005 | +78.9% |
| Profit (loss) for the period | 9904 | €92,130 | €132,732 | +€40,602 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,130 | €132,732 | +€40,602 | +44.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.