ConnectX: 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.
ConnectX
Largest movements
- Cash +€28,591
up €28,591 (+58.9%), from €48,520 to €77,111
mainly Net result for the year (+€38,034) and Depreciation (+€10,857)
- Tangible fixed assets -€7,569
down €7,569 (-17.3%), from €43,871 to €36,303
of which Furniture and vehicles: -€8,916
- Receivables within one year +€6,742
up €6,742 (+43.9%), from €15,367 to €22,109
of which Other amounts receivable: +€6,542
- Deferred charges and accrued income +€2,813
up €2,813 (+685.3%), from €410 to €3,224
- Reserves +€38,034
up €38,034 (+59.3%), from €64,117 to €102,151
- Debts after one year -€7,837
down €7,837 (-28.6%), from €27,406 to €19,568
- Tax, wage and social debts +€2,450
up €2,450 (+36.4%), from €6,725 to €9,175
- Gross operating margin -€5,503
down €5,503 (-7.9%), from €69,430 to €63,927
- Depreciation +€3,858
up €3,858 (+55.1%), from €6,998 to €10,857
- Taxes -€1,838
down €1,838 (-13.9%), from €13,211 to €11,374
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.
Cash bridge derived
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 | €112,315 | €143,266 | +€30,951 | +27.6% |
| Fixed assets | 21/28 | €43,871 | €36,303 | -€7,569 | -17.3% |
| Tangible fixed assets | 22/27 | €43,871 | €36,303 | -€7,569 | -17.3% |
| Plant, machinery and equipment | 23 | - | €1,783 | +€1,783 | |
| Furniture and vehicles | 24 | €41,822 | €32,905 | -€8,916 | -21.3% |
| Other tangible fixed assets | 26 | €2,050 | €1,615 | -€435 | -21.2% |
| Current assets | 29/58 | €68,444 | €106,963 | +€38,520 | +56.3% |
| Stocks and contracts in progress | 3 | €4,146 | €4,520 | +€374 | +9.0% |
| Stocks | 30/36 | €4,146 | €4,520 | +€374 | +9.0% |
| Amounts receivable within one year | 40/41 | €15,367 | €22,109 | +€6,742 | +43.9% |
| Trade receivables | 40 | €15,349 | €15,549 | +€200 | +1.3% |
| Other amounts receivable | 41 | €18 | €6,560 | +€6,542 | +36425.4% |
| Cash at bank and in hand | 54/58 | €48,520 | €77,111 | +€28,591 | +58.9% |
| Deferred charges and accrued income | 490/1 | €410 | €3,224 | +€2,813 | +685.3% |
| Total equity and liabilities | 10/49 | €112,315 | €143,266 | +€30,951 | +27.6% |
| Equity | 10/15 | €66,617 | €104,651 | +€38,034 | +57.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €64,117 | €102,151 | +€38,034 | +59.3% |
| Distributable reserves | 133 | €64,117 | €102,151 | +€38,034 | +59.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,698 | €38,616 | -€7,083 | -15.5% |
| Amounts payable after more than one year | 17 | €27,406 | €19,568 | -€7,837 | -28.6% |
| Financial debts | 170/4 | €27,406 | €19,568 | -€7,837 | -28.6% |
| Amounts payable within one year | 42/48 | €18,103 | €19,047 | +€945 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €7,526 | €7,837 | +€311 | +4.1% |
| Financial debts | 43 | €133 | €111 | -€23 | -16.9% |
| Credit institutions | 430/8 | €133 | €111 | -€23 | -16.9% |
| Trade debts | 44 | €2,794 | €1,924 | -€870 | -31.1% |
| Suppliers | 440/4 | €2,794 | €1,924 | -€870 | -31.1% |
| Taxes, remuneration and social security | 45 | €6,725 | €9,175 | +€2,450 | +36.4% |
| Taxes | 450/3 | €6,725 | €9,175 | +€2,450 | +36.4% |
| Other amounts payable | 47/48 | €924 | €0 | -€924 | -100.0% |
| Accrued charges and deferred income | 492/3 | €190 | €0 | -€190 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,998 | €10,857 | +€3,858 | +55.1% |
| Other operating charges | 640/8 | €673 | €689 | +€16 | +2.4% |
| Gross operating margin | 9900 | €69,430 | €63,927 | -€5,503 | -7.9% |
| Operating profit (loss) | 9901 | €61,759 | €52,381 | -€9,378 | -15.2% |
| Financial income | 75/76B | €86 | €52 | -€34 | -39.6% |
| Recurring financial income | 75 | €86 | €52 | -€34 | -39.6% |
| Financial charges | 65/66B | €3,267 | €3,026 | -€241 | -7.4% |
| Recurring financial charges | 65 | €3,267 | €3,026 | -€241 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €58,578 | €49,408 | -€9,171 | -15.7% |
| Income taxes | 67/77 | €13,211 | €11,374 | -€1,838 | -13.9% |
| Profit (loss) for the period | 9904 | €45,367 | €38,034 | -€7,333 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,367 | €38,034 | -€7,333 | -16.2% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.