HI-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.
HI-CONNECT
Largest movements
- Stocks and contracts +€124,789
up €124,789 (+53.1%), from €235,211 to €360,000
- Receivables within one year +€124,180
up €124,180 (+39.1%), from €317,560 to €441,740
- Cash -€34,442
down €34,442 (-50.2%), from €68,632 to €34,190
mainly Stocks and contracts (-€124,789) and Receivables within one year (-€124,180)
- Current portion of long-term debt +€150,000
new in 2025: €150,000
- Profit (loss) carried forward +€70,043
up €70,043 (+41.9%), from €167,233 to €237,276
- Trade debts +€30,650
up €30,650 (+14.2%), from €216,272 to €246,922
- Other debts -€24,203
down €24,203 (-21.7%), from €111,370 to €87,167
- Purchases and services +€393,892
up €393,892 (+26.4%), from €1.5m to €1.9m
- Turnover +€380,067
up €380,067 (+22.6%), from €1.7m to €2.1m
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 | €628,250 | €848,758 | +€220,508 | +35.1% |
| Fixed assets | 21/28 | €5,484 | €12,828 | +€7,344 | +134% |
| Tangible fixed assets | 22/27 | €4,784 | €12,128 | +€7,344 | +154% |
| Plant, machinery and equipment | 23 | €2,838 | €1,838 | -€1,000 | -35.2% |
| Furniture and vehicles | 24 | €1,946 | €10,290 | +€8,344 | +429% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €622,766 | €835,930 | +€213,164 | +34.2% |
| Stocks and contracts in progress | 3 | €235,211 | €360,000 | +€124,789 | +53.1% |
| Stocks | 30/36 | €235,211 | €360,000 | +€124,789 | +53.1% |
| Amounts receivable within one year | 40/41 | €317,560 | €441,740 | +€124,180 | +39.1% |
| Trade receivables | 40 | €317,560 | €441,740 | +€124,180 | +39.1% |
| Cash at bank and in hand | 54/58 | €68,632 | €34,190 | -€34,442 | -50.2% |
| Deferred charges and accrued income | 490/1 | €1,363 | - | -€1,363 | |
| Total equity and liabilities | 10/49 | €628,250 | €848,758 | +€220,508 | +35.1% |
| Equity | 10/15 | €187,693 | €257,736 | +€70,043 | +37.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,233 | €237,276 | +€70,043 | +41.9% |
| Amounts payable | 17/49 | €440,557 | €591,022 | +€150,465 | +34.2% |
| Amounts payable within one year | 42/48 | €438,991 | €591,022 | +€152,031 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €216,272 | €246,922 | +€30,650 | +14.2% |
| Suppliers | 440/4 | €216,272 | €246,922 | +€30,650 | +14.2% |
| Taxes, remuneration and social security | 45 | €111,349 | €106,933 | -€4,416 | -4.0% |
| Taxes | 450/3 | €88,811 | €89,502 | +€691 | +0.8% |
| Remuneration and social security | 454/9 | €22,538 | €17,431 | -€5,107 | -22.7% |
| Other amounts payable | 47/48 | €111,370 | €87,167 | -€24,203 | -21.7% |
| Accrued charges and deferred income | 492/3 | €1,566 | - | -€1,566 | |
| Turnover | 70 | €1,679,294 | €2,059,361 | +€380,067 | +22.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,494,192 | €1,888,084 | +€393,892 | +26.4% |
| Remuneration, social security and pensions | 62 | €60,626 | €50,697 | -€9,929 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,955 | €2,882 | +€927 | +47.4% |
| Other operating charges | 640/8 | €1,525 | €802 | -€723 | -47.4% |
| Gross operating margin | 9900 | €185,101 | €171,277 | -€13,824 | -7.5% |
| Operating profit (loss) | 9901 | €120,995 | €116,896 | -€4,099 | -3.4% |
| Financial income | 75/76B | €3,709 | €2,649 | -€1,060 | -28.6% |
| Recurring financial income | 75 | €3,709 | €2,649 | -€1,060 | -28.6% |
| Financial charges | 65/66B | €6,766 | €8,695 | +€1,929 | +28.5% |
| Recurring financial charges | 65 | €6,766 | €8,695 | +€1,929 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | €117,938 | €110,850 | -€7,088 | -6.0% |
| Income taxes | 67/77 | €32,149 | €40,807 | +€8,658 | +26.9% |
| Profit (loss) for the period | 9904 | €85,789 | €70,043 | -€15,746 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €85,789 | €70,043 | -€15,746 | -18.4% |
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 23 October 2026 via checked.be.