DIRECT CONNECT: 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.
DIRECT CONNECT
Largest movements
- Tangible fixed assets +€45,924
up €45,924 (+196.5%), from €23,375 to €69,300
of which Furniture and vehicles: +€45,951
- Receivables within one year -€29,522
down €29,522 (-76.3%), from €38,702 to €9,181
- Cash -€23,981
down €23,981 (-39.8%), from €60,278 to €36,297
mainly Investment in fixed assets (net) (-€56,836) and Other debts (-€8,893)
- Other debts -€8,893
down €8,893 (-17.7%), from €50,291 to €41,398
- Tax, wage and social debts -€6,000
down €6,000 (-40.7%), from €14,753 to €8,753
- Profit (loss) carried forward +€4,511
up €4,511 (+32.2%), from €13,997 to €18,509
- Trade debts +€2,804
up €2,804 (+11.9%), from €23,518 to €26,322
- Staff costs +€51,609
up €51,609 (+97.6%), from €52,880 to €104,488
- Financial income +€34,413
new in 2025: €34,413
of which Financial income: +€34,413
- Gross operating margin +€15,462
up €15,462 (+21.1%), from €73,437 to €88,899
- Depreciation +€5,168
up €5,168 (+90.0%), from €5,744 to €10,912
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 | €122,355 | €114,778 | -€7,578 | -6.2% |
| Fixed assets | 21/28 | €23,375 | €69,300 | +€45,924 | +196.5% |
| Tangible fixed assets | 22/27 | €23,375 | €69,300 | +€45,924 | +196.5% |
| Plant, machinery and equipment | 23 | €6,628 | €6,601 | -€26 | -0.4% |
| Furniture and vehicles | 24 | €16,748 | €62,698 | +€45,951 | +274.4% |
| Current assets | 29/58 | €98,980 | €45,478 | -€53,502 | -54.1% |
| Amounts receivable within one year | 40/41 | €38,702 | €9,181 | -€29,522 | -76.3% |
| Trade receivables | 40 | €38,702 | €9,181 | -€29,522 | -76.3% |
| Cash at bank and in hand | 54/58 | €60,278 | €36,297 | -€23,981 | -39.8% |
| Total equity and liabilities | 10/49 | €122,355 | €114,778 | -€7,578 | -6.2% |
| Equity | 10/15 | €33,793 | €38,305 | +€4,511 | +13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,196 | €1,196 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,196 | €1,196 | = | 0.0% |
| Legal reserve | 130 | €1,196 | €1,196 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,997 | €18,509 | +€4,511 | +32.2% |
| Amounts payable | 17/49 | €88,562 | €76,473 | -€12,089 | -13.7% |
| Amounts payable within one year | 42/48 | €88,562 | €76,473 | -€12,089 | -13.7% |
| Trade debts | 44 | €23,518 | €26,322 | +€2,804 | +11.9% |
| Suppliers | 440/4 | €23,518 | €26,322 | +€2,804 | +11.9% |
| Taxes, remuneration and social security | 45 | €14,753 | €8,753 | -€6,000 | -40.7% |
| Taxes | 450/3 | €14,753 | €8,753 | -€6,000 | -40.7% |
| Other amounts payable | 47/48 | €50,291 | €41,398 | -€8,893 | -17.7% |
| Remuneration, social security and pensions | 62 | €52,880 | €104,488 | +€51,609 | +97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,744 | €10,912 | +€5,168 | +90.0% |
| Other operating charges | 640/8 | €1,734 | €2,295 | +€561 | +32.4% |
| Gross operating margin | 9900 | €73,437 | €88,899 | +€15,462 | +21.1% |
| Operating profit (loss) | 9901 | €13,079 | -€28,797 | -€41,876 | |
| Financial income | 75/76B | - | €34,413 | +€34,413 | |
| Recurring financial income | 75 | - | €34,413 | +€34,413 | |
| Non-recurring financial income | 76B | - | €34,413 | +€34,413 | |
| Financial charges | 65/66B | €173 | €241 | +€68 | +39.0% |
| Recurring financial charges | 65 | €173 | €241 | +€68 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €12,906 | €5,375 | -€7,531 | -58.4% |
| Income taxes | 67/77 | €104 | €864 | +€760 | +733.9% |
| Profit (loss) for the period | 9904 | €12,802 | €4,511 | -€8,291 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,802 | €4,511 | -€8,291 | -64.8% |
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 11 October 2026 via checked.be.