HB 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.
HB CONNECT
Largest movements
- Cash +€9,757
up €9,757 (+177%), from €5,513 to €15,270
mainly Net result for the year (+€22,587) and Tax, wage and social debts (+€3,413)
- Tangible fixed assets +€5,202
up €5,202 (+98.4%), from €5,289 to €10,490
of which Furniture and vehicles: +€4,325
- Deferred charges and accrued income +€2,099
new in 2025: €2,099
- Receivables within one year +€1,948
up €1,948 (+10.5%), from €18,466 to €20,414
of which Other amounts receivable: +€1,040
- Profit (loss) carried forward +€22,587
up €22,587 (+167%), from €13,531 to €36,118
- Trade debts -€6,994
down €6,994 (-82.9%), from €8,439 to €1,445
- Tax, wage and social debts +€3,413
up €3,413 (+64.4%), from €5,298 to €8,711
- Gross operating margin +€14,120
up €14,120 (+58.3%), from €24,232 to €38,352
- Taxes +€3,021
up €3,021 (+63.5%), from €4,758 to €7,779
- Depreciation +€461
up €461 (+29.1%), from €1,582 to €2,043
- Financial income +€440
up €440 (+1,084%), from €41 to €480
- Other operating charges -€392
down €392 (-22.8%), from €1,723 to €1,330
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.
Derived cash bridge
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 | €29,268 | €48,274 | +€19,006 | +64.9% |
| Fixed assets | 21/28 | €5,289 | €10,490 | +€5,202 | +98.4% |
| Tangible fixed assets | 22/27 | €5,289 | €10,490 | +€5,202 | +98.4% |
| Plant, machinery and equipment | 23 | €1,310 | €2,187 | +€876 | +66.9% |
| Furniture and vehicles | 24 | €3,978 | €8,304 | +€4,325 | +109% |
| Current assets | 29/58 | €23,979 | €37,784 | +€13,805 | +57.6% |
| Amounts receivable within one year | 40/41 | €18,466 | €20,414 | +€1,948 | +10.5% |
| Trade receivables | 40 | €7,982 | €8,890 | +€908 | +11.4% |
| Other amounts receivable | 41 | €10,484 | €11,524 | +€1,040 | +9.9% |
| Cash at bank and in hand | 54/58 | €5,513 | €15,270 | +€9,757 | +177% |
| Deferred charges and accrued income | 490/1 | - | €2,099 | +€2,099 | |
| Total equity and liabilities | 10/49 | €29,268 | €48,274 | +€19,006 | +64.9% |
| Equity | 10/15 | €15,531 | €38,118 | +€22,587 | +145% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,531 | €36,118 | +€22,587 | +167% |
| Amounts payable | 17/49 | €13,737 | €10,156 | -€3,581 | -26.1% |
| Amounts payable within one year | 42/48 | €13,737 | €10,156 | -€3,581 | -26.1% |
| Trade debts | 44 | €8,439 | €1,445 | -€6,994 | -82.9% |
| Suppliers | 440/4 | €8,439 | €1,445 | -€6,994 | -82.9% |
| Taxes, remuneration and social security | 45 | €5,298 | €8,711 | +€3,413 | +64.4% |
| Taxes | 450/3 | €5,298 | €8,711 | +€3,413 | +64.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,582 | €2,043 | +€461 | +29.1% |
| Other operating charges | 640/8 | €1,723 | €1,330 | -€392 | -22.8% |
| Non-recurring operating charges | 66A | - | €2,084 | +€2,084 | |
| Gross operating margin | 9900 | €24,232 | €38,352 | +€14,120 | +58.3% |
| Operating profit (loss) | 9901 | €20,927 | €32,895 | +€11,967 | +57.2% |
| Financial income | 75/76B | €41 | €480 | +€440 | +1,084% |
| Recurring financial income | 75 | €41 | €480 | +€440 | +1,084% |
| Financial charges | 65/66B | €2,679 | €3,009 | +€330 | +12.3% |
| Recurring financial charges | 65 | €2,679 | €3,009 | +€330 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €18,289 | €30,366 | +€12,077 | +66.0% |
| Income taxes | 67/77 | €4,758 | €7,779 | +€3,021 | +63.5% |
| Profit (loss) for the period | 9904 | €13,531 | €22,587 | +€9,057 | +66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,531 | €22,587 | +€9,057 | +66.9% |
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 24 October 2026 via checked.be.