Habibi Connect: what changed
Habibi Connect
Largest movements
- Receivables within one year -€37,272
down €37,272 (-42.0%), from €88,644 to €51,372
of which Trade receivables: -€34,166
- Cash -€2,021
down €2,021 (-78.3%), from €2,582 to €561
mainly Trade debts (-€20,945) and Net result for the year (-€18,050)
- Deferred charges and accrued income +€1,465
up €1,465 (+122%), from €1,199 to €2,664
- Tangible fixed assets -€1,249
down €1,249 (-4.6%), from €27,163 to €25,914
of which Furniture and vehicles: -€8,080
- Trade debts -€20,945
down €20,945 (-99.4%), from €21,062 to €117
- Profit (loss) carried forward -€18,050
new in 2025: -€18,050
- Debts after one year -€8,087
down €8,087 (-56.1%), from €14,405 to €6,317
- Other debts +€7,270
new in 2025: €7,270
- Gross operating margin -€80,952
down €80,952, from €79,279 to -€1,673
- Taxes -€14,771
down €14,771 (-99.1%), from €14,903 to €132
- Depreciation +€9,856
up €9,856 (+299%), from €3,292 to €13,148
- Financial charges +€906
up €906 (+51.8%), from €1,748 to €2,654
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 | €120,587 | €81,511 | -€39,076 | -32.4% |
| Fixed assets | 21/28 | €28,163 | €26,914 | -€1,249 | -4.4% |
| Tangible fixed assets | 22/27 | €27,163 | €25,914 | -€1,249 | -4.6% |
| Plant, machinery and equipment | 23 | €6,996 | €13,827 | +€6,831 | +97.6% |
| Furniture and vehicles | 24 | €20,167 | €12,087 | -€8,080 | -40.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €92,425 | €54,598 | -€37,827 | -40.9% |
| Amounts receivable within one year | 40/41 | €88,644 | €51,372 | -€37,272 | -42.0% |
| Trade receivables | 40 | €83,623 | €49,458 | -€34,166 | -40.9% |
| Other amounts receivable | 41 | €5,021 | €1,915 | -€3,106 | -61.9% |
| Cash at bank and in hand | 54/58 | €2,582 | €561 | -€2,021 | -78.3% |
| Deferred charges and accrued income | 490/1 | €1,199 | €2,664 | +€1,465 | +122% |
| Total equity and liabilities | 10/49 | €120,587 | €81,511 | -€39,076 | -32.4% |
| Equity | 10/15 | €61,293 | €43,243 | -€18,050 | -29.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €58,793 | €58,793 | = | 0.0% |
| Distributable reserves | 133 | €58,793 | €58,793 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€18,050 | -€18,050 | |
| Amounts payable | 17/49 | €59,294 | €38,268 | -€21,026 | -35.5% |
| Amounts payable after more than one year | 17 | €14,405 | €6,317 | -€8,087 | -56.1% |
| Financial debts | 170/4 | €14,405 | €6,317 | -€8,087 | -56.1% |
| Amounts payable within one year | 42/48 | €44,889 | €31,951 | -€12,939 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €7,720 | €8,087 | +€367 | +4.8% |
| Trade debts | 44 | €21,062 | €117 | -€20,945 | -99.4% |
| Suppliers | 440/4 | €21,062 | €117 | -€20,945 | -99.4% |
| Taxes, remuneration and social security | 45 | €16,108 | €16,477 | +€369 | +2.3% |
| Taxes | 450/3 | €14,903 | €15,035 | +€132 | +0.9% |
| Remuneration and social security | 454/9 | €1,205 | €1,442 | +€237 | +19.7% |
| Other amounts payable | 47/48 | - | €7,270 | +€7,270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,292 | €13,148 | +€9,856 | +299% |
| Other operating charges | 640/8 | €548 | €457 | -€91 | -16.6% |
| Gross operating margin | 9900 | €79,279 | -€1,673 | -€80,952 | |
| Operating profit (loss) | 9901 | €75,439 | -€15,278 | -€90,718 | |
| Financial income | 75/76B | €4 | €14 | +€10 | +216% |
| Recurring financial income | 75 | €4 | €14 | +€10 | +216% |
| Financial charges | 65/66B | €1,748 | €2,654 | +€906 | +51.8% |
| Recurring financial charges | 65 | €1,748 | €2,654 | +€906 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | €73,696 | -€17,918 | -€91,614 | |
| Income taxes | 67/77 | €14,903 | €132 | -€14,771 | -99.1% |
| Profit (loss) for the period | 9904 | €58,793 | -€18,050 | -€76,843 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,793 | -€18,050 | -€76,843 |
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 1 November 2026 via checked.be.