L-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.
L-Connect
Largest movements
- Cash +€84,968
up €84,968 (+158%), from €53,779 to €138,748
mainly Other debts (+€152,023) and Net result for the year (+€98,575)
- Receivables within one year +€10,974
up €10,974 (+99.4%), from €11,045 to €22,019
of which Trade receivables: +€8,051
- Tangible fixed assets +€2,677
new in 2025: €2,677
- Other debts +€152,023
up €152,023 (+6,029%), from €2,522 to €154,545
- Reserves -€53,639
down €53,639 (-95.4%), from €56,214 to €2,575
- Gross operating margin +€62,483
up €62,483 (+85.4%), from €73,127 to €135,610
- Taxes +€20,595
up €20,595 (+145%), from €14,231 to €34,827
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 | €64,930 | €164,614 | +€99,684 | +154% |
| Fixed assets | 21/28 | - | €2,677 | +€2,677 | |
| Tangible fixed assets | 22/27 | - | €2,677 | +€2,677 | |
| Furniture and vehicles | 24 | - | €2,677 | +€2,677 | |
| Current assets | 29/58 | €64,930 | €161,936 | +€97,006 | +149% |
| Amounts receivable within one year | 40/41 | €11,045 | €22,019 | +€10,974 | +99.4% |
| Trade receivables | 40 | €577 | €8,627 | +€8,051 | +1,396% |
| Other amounts receivable | 41 | €10,469 | €13,392 | +€2,923 | +27.9% |
| Cash at bank and in hand | 54/58 | €53,779 | €138,748 | +€84,968 | +158% |
| Deferred charges and accrued income | 490/1 | €105 | €1,169 | +€1,064 | +1,009% |
| Total equity and liabilities | 10/49 | €64,930 | €164,614 | +€99,684 | +154% |
| Equity | 10/15 | €57,214 | €3,575 | -€53,639 | -93.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €56,214 | €2,575 | -€53,639 | -95.4% |
| Distributable reserves | 133 | €56,214 | €2,575 | -€53,639 | -95.4% |
| Amounts payable | 17/49 | €7,716 | €161,038 | +€153,322 | +1,987% |
| Amounts payable within one year | 42/48 | €7,716 | €161,038 | +€153,322 | +1,987% |
| Trade debts | 44 | €290 | €416 | +€126 | +43.5% |
| Suppliers | 440/4 | €290 | €416 | +€126 | +43.5% |
| Taxes, remuneration and social security | 45 | €4,905 | €6,078 | +€1,173 | +23.9% |
| Taxes | 450/3 | €4,905 | €6,078 | +€1,173 | +23.9% |
| Other amounts payable | 47/48 | €2,522 | €154,545 | +€152,023 | +6,029% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €638 | +€638 | |
| Other operating charges | 640/8 | €118 | €300 | +€182 | +154% |
| Gross operating margin | 9900 | €73,127 | €135,610 | +€62,483 | +85.4% |
| Operating profit (loss) | 9901 | €73,009 | €134,673 | +€61,664 | +84.5% |
| Financial income | 75/76B | €112 | €7 | -€105 | -93.9% |
| Recurring financial income | 75 | €112 | €7 | -€105 | -93.9% |
| Financial charges | 65/66B | €81 | €1,278 | +€1,197 | +1,487% |
| Recurring financial charges | 65 | €81 | €1,278 | +€1,197 | +1,487% |
| Profit (loss) for the period before taxes | 9903 | €73,041 | €133,402 | +€60,361 | +82.6% |
| Income taxes | 67/77 | €14,231 | €34,827 | +€20,595 | +145% |
| Profit (loss) for the period | 9904 | €58,810 | €98,575 | +€39,765 | +67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,810 | €98,575 | +€39,765 | +67.6% |
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 13 October 2026 via checked.be.