Connex: 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.
Connex
Largest movements
- Current investments +€40,000
new in 2025: €40,000
- Cash -€13,033
down €13,033 (-16.3%), from €79,993 to €66,960
mainly Current investments (-€40,000) and Contributions, distributions and other (-€12,000)
- Tangible fixed assets -€1,679
down €1,679 (-24.0%), from €6,983 to €5,304
- Reserves +€30,255
up €30,255 (+46.0%), from €65,833 to €96,089
- Tax, wage and social debts -€7,855
down €7,855 (-42.1%), from €18,650 to €10,795
- Short-term financial debts +€3,946
up €3,946, from €0 to €3,946
- Gross operating margin +€577
up €577 (+1.0%), from €56,422 to €56,999
- Taxes +€576
up €576 (+4.8%), from €11,895 to €12,471
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 | €90,816 | €116,535 | +€25,719 | +28.3% |
| Fixed assets | 21/28 | €6,983 | €5,304 | -€1,679 | -24.0% |
| Tangible fixed assets | 22/27 | €6,983 | €5,304 | -€1,679 | -24.0% |
| Furniture and vehicles | 24 | €6,983 | €5,304 | -€1,679 | -24.0% |
| Current assets | 29/58 | €83,833 | €111,231 | +€27,398 | +32.7% |
| Amounts receivable within one year | 40/41 | €3,302 | €3,716 | +€413 | +12.5% |
| Trade receivables | 40 | €2,454 | €2,816 | +€362 | +14.7% |
| Other amounts receivable | 41 | €848 | €900 | +€51 | +6.1% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €79,993 | €66,960 | -€13,033 | -16.3% |
| Deferred charges and accrued income | 490/1 | €537 | €555 | +€18 | +3.3% |
| Total equity and liabilities | 10/49 | €90,816 | €116,535 | +€25,719 | +28.3% |
| Equity | 10/15 | €70,833 | €101,089 | +€30,255 | +42.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €65,833 | €96,089 | +€30,255 | +46.0% |
| Distributable reserves | 133 | €65,833 | €96,089 | +€30,255 | +46.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,983 | €15,447 | -€4,536 | -22.7% |
| Amounts payable within one year | 42/48 | €19,983 | €15,447 | -€4,536 | -22.7% |
| Financial debts | 43 | €0 | €3,946 | +€3,946 | |
| Credit institutions | 430/8 | €0 | €3,946 | +€3,946 | |
| Trade debts | 44 | €1,333 | €706 | -€627 | -47.0% |
| Suppliers | 440/4 | €1,333 | €706 | -€627 | -47.0% |
| Taxes, remuneration and social security | 45 | €18,650 | €10,795 | -€7,855 | -42.1% |
| Taxes | 450/3 | €18,650 | €10,795 | -€7,855 | -42.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,412 | €1,679 | +€267 | +18.9% |
| Other operating charges | 640/8 | €268 | €479 | +€211 | +78.8% |
| Gross operating margin | 9900 | €56,422 | €56,999 | +€577 | +1.0% |
| Operating profit (loss) | 9901 | €54,742 | €54,841 | +€99 | +0.2% |
| Financial income | 75/76B | €159 | €26 | -€133 | -83.6% |
| Recurring financial income | 75 | €159 | €26 | -€133 | -83.6% |
| Financial charges | 65/66B | €58 | €141 | +€83 | +142.3% |
| Recurring financial charges | 65 | €58 | €141 | +€83 | +142.3% |
| Profit (loss) for the period before taxes | 9903 | €54,843 | €54,726 | -€117 | -0.2% |
| Income taxes | 67/77 | €11,895 | €12,471 | +€576 | +4.8% |
| Profit (loss) for the period | 9904 | €42,947 | €42,255 | -€692 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,947 | €42,255 | -€692 | -1.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.