CONNECTINVEST: 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.
CONNECTINVEST
Largest movements
- Tangible fixed assets -€152,540
down €152,540 (-47.6%), from €320,384 to €167,844
of which Land and buildings: -€157,858
- Receivables within one year +€36,486
up €36,486 (+141%), from €25,806 to €62,292
of which Other amounts receivable: +€37,080
- Deferred charges and accrued income +€6,600
new in 2025: €6,600
- Cash +€4,603
up €4,603 (+88.0%), from €5,233 to €9,836
mainly Investment in fixed assets (net) (+€147,147) and Net result for the year (+€144,859)
- Debts after one year -€234,454
no longer reported in 2025 (was €234,454)
- Reserves +€141,912
new in 2025: €141,912
- Provisions +€47,304
new in 2025: €47,304
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Current portion of long-term debt -€22,316
no longer reported in 2025 (was €22,316)
- Gross operating margin +€179,006
up €179,006 (+425%), from €42,153 to €221,160
- Depreciation -€4,963
down €4,963 (-47.9%), from €10,355 to €5,393
- Financial charges +€4,913
up €4,913 (+37.7%), from €13,022 to €17,935
- Taxes -€2,946
down €2,946 (-67.0%), from €4,397 to €1,451
- Other operating charges +€2,413
up €2,413 (+127%), from €1,904 to €4,317
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 | €355,633 | €252,532 | -€103,101 | -29.0% |
| Fixed assets | 21/28 | €320,384 | €167,844 | -€152,540 | -47.6% |
| Tangible fixed assets | 22/27 | €320,384 | €167,844 | -€152,540 | -47.6% |
| Land and buildings | 22 | €320,384 | €162,526 | -€157,858 | -49.3% |
| Plant, machinery and equipment | 23 | - | €3,881 | +€3,881 | |
| Furniture and vehicles | 24 | - | €1,437 | +€1,437 | |
| Current assets | 29/58 | €35,249 | €84,689 | +€49,439 | +140% |
| Stocks and contracts in progress | 3 | €4,210 | €5,960 | +€1,750 | +41.6% |
| Stocks | 30/36 | €4,210 | €5,960 | +€1,750 | +41.6% |
| Amounts receivable within one year | 40/41 | €25,806 | €62,292 | +€36,486 | +141% |
| Trade receivables | 40 | €11,205 | €10,611 | -€594 | -5.3% |
| Other amounts receivable | 41 | €14,601 | €51,681 | +€37,080 | +254% |
| Cash at bank and in hand | 54/58 | €5,233 | €9,836 | +€4,603 | +88.0% |
| Deferred charges and accrued income | 490/1 | - | €6,600 | +€6,600 | |
| Total equity and liabilities | 10/49 | €355,633 | €252,532 | -€103,101 | -29.0% |
| Equity | 10/15 | €49,068 | €193,926 | +€144,859 | +295% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €141,912 | +€141,912 | |
| Tax-exempt reserves | 132 | - | €141,912 | +€141,912 | |
| Profit (loss) carried forward | 14 | €42,868 | €45,814 | +€2,947 | +6.9% |
| Provisions and deferred taxes | 16 | - | €47,304 | +€47,304 | |
| Deferred taxes | 168 | - | €47,304 | +€47,304 | |
| Amounts payable | 17/49 | €306,566 | €11,302 | -€295,263 | -96.3% |
| Amounts payable after more than one year | 17 | €234,454 | - | -€234,454 | |
| Financial debts | 170/4 | €234,454 | - | -€234,454 | |
| Amounts payable within one year | 42/48 | €64,611 | €11,302 | -€53,309 | -82.5% |
| Current portion of amounts payable after more than one year | 42 | €22,316 | - | -€22,316 | |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €5,172 | €9,432 | +€4,260 | +82.4% |
| Suppliers | 440/4 | €5,172 | €9,432 | +€4,260 | +82.4% |
| Advances received on contracts in progress | 46 | €1,675 | €50 | -€1,625 | -97.0% |
| Taxes, remuneration and social security | 45 | €10,447 | €1,820 | -€8,627 | -82.6% |
| Taxes | 450/3 | €10,447 | €1,820 | -€8,627 | -82.6% |
| Accrued charges and deferred income | 492/3 | €7,500 | - | -€7,500 | |
| Non-recurring operating income | 76A | - | €189,216 | +€189,216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,355 | €5,393 | -€4,963 | -47.9% |
| Other operating charges | 640/8 | €1,904 | €4,317 | +€2,413 | +127% |
| Gross operating margin | 9900 | €42,153 | €221,160 | +€179,006 | +425% |
| Operating profit (loss) | 9901 | €29,893 | €211,450 | +€181,556 | +607% |
| Financial income | 75/76B | €870 | €99 | -€771 | -88.6% |
| Recurring financial income | 75 | €870 | €99 | -€771 | -88.6% |
| Financial charges | 65/66B | €13,022 | €17,935 | +€4,913 | +37.7% |
| Recurring financial charges | 65 | €13,022 | €17,935 | +€4,913 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €17,742 | €193,614 | +€175,872 | +991% |
| Transfer to deferred taxes | 680 | - | €47,304 | +€47,304 | |
| Income taxes | 67/77 | €4,397 | €1,451 | -€2,946 | -67.0% |
| Profit (loss) for the period | 9904 | €13,344 | €144,859 | +€131,514 | +986% |
| Transfer to tax-exempt reserves | 689 | - | €141,912 | +€141,912 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,344 | €2,947 | -€10,397 | -77.9% |
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 29 October 2026 via checked.be.