Connectwork: what changed
Connectwork
Largest movements
- Receivables within one year +€32,382
up €32,382 (+180%), from €17,954 to €50,337
of which Trade receivables: +€24,262
- Cash +€14,765
up €14,765 (+18.7%), from €79,030 to €93,796
mainly Net result for the year (+€49,773) and Depreciation (+€3,183)
- Tangible fixed assets +€3,201
up €3,201 (+42.2%), from €7,592 to €10,793
of which Plant, machinery and equipment: +€3,974
- Reserves +€48,940
up €48,940 (+65.8%), from €74,338 to €123,278
- Gross operating margin -€30,558
down €30,558 (-30.9%), from €98,909 to €68,351
- Taxes -€5,934
down €5,934 (-30.6%), from €19,414 to €13,481
- Depreciation +€1,968
up €1,968 (+162%), from €1,215 to €3,183
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 | €109,089 | €158,493 | +€49,405 | +45.3% |
| Fixed assets | 21/28 | €7,592 | €10,793 | +€3,201 | +42.2% |
| Tangible fixed assets | 22/27 | €7,592 | €10,793 | +€3,201 | +42.2% |
| Plant, machinery and equipment | 23 | €5,364 | €9,338 | +€3,974 | +74.1% |
| Furniture and vehicles | 24 | €2,228 | €1,455 | -€773 | -34.7% |
| Current assets | 29/58 | €101,496 | €147,700 | +€46,204 | +45.5% |
| Amounts receivable after more than one year | 29 | €3,492 | €3,492 | = | 0.0% |
| Other amounts receivable | 291 | €3,492 | €3,492 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,954 | €50,337 | +€32,382 | +180% |
| Trade receivables | 40 | €13,658 | €37,920 | +€24,262 | +178% |
| Other amounts receivable | 41 | €4,296 | €12,416 | +€8,120 | +189% |
| Cash at bank and in hand | 54/58 | €79,030 | €93,796 | +€14,765 | +18.7% |
| Deferred charges and accrued income | 490/1 | €1,020 | €76 | -€944 | -92.5% |
| Total equity and liabilities | 10/49 | €109,089 | €158,493 | +€49,405 | +45.3% |
| Equity | 10/15 | €77,338 | €126,278 | +€48,940 | +63.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €74,338 | €123,278 | +€48,940 | +65.8% |
| Distributable reserves | 133 | €74,338 | €123,278 | +€48,940 | +65.8% |
| Amounts payable | 17/49 | €31,750 | €32,216 | +€465 | +1.5% |
| Amounts payable within one year | 42/48 | €31,750 | €32,216 | +€465 | +1.5% |
| Trade debts | 44 | €3,100 | €2,542 | -€558 | -18.0% |
| Suppliers | 440/4 | €3,100 | €2,542 | -€558 | -18.0% |
| Taxes, remuneration and social security | 45 | €27,817 | €28,841 | +€1,023 | +3.7% |
| Taxes | 450/3 | €27,817 | €28,841 | +€1,023 | +3.7% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,215 | €3,183 | +€1,968 | +162% |
| Other operating charges | 640/8 | €749 | €370 | -€379 | -50.6% |
| Gross operating margin | 9900 | €98,909 | €68,351 | -€30,558 | -30.9% |
| Operating profit (loss) | 9901 | €96,945 | €64,799 | -€32,147 | -33.2% |
| Financial income | 75/76B | €29 | €292 | +€263 | +900% |
| Recurring financial income | 75 | €29 | €292 | +€263 | +900% |
| Financial charges | 65/66B | €2,389 | €1,837 | -€552 | -23.1% |
| Recurring financial charges | 65 | €2,389 | €1,837 | -€552 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €94,585 | €63,253 | -€31,332 | -33.1% |
| Income taxes | 67/77 | €19,414 | €13,481 | -€5,934 | -30.6% |
| Profit (loss) for the period | 9904 | €75,171 | €49,773 | -€25,398 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,171 | €49,773 | -€25,398 | -33.8% |
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 2 November 2026 via checked.be.