Max Time To Reconnect: what changed
Max Time To Reconnect
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+59.8%), from €2.2m to €3.5m
of which Trade receivables: +€1.3m
- Stocks and contracts +€1.3m
new in 2025: €1.3m
- Cash +€1.1m
up €1.1m (+87.0%), from €1.3m to €2.5m
mainly Advances received (+€3.9m) and Trade debts (+€1.9m)
- Deferred charges and accrued income -€840,862
down €840,862 (-93.3%), from €900,957 to €60,095
- Advances received +€3.9m
new in 2025: €3.9m
- Accrued charges and deferred income -€3.1m
down €3.1m (-75.8%), from €4.0m to €977,406
- Trade debts +€1.9m
up €1.9m (+2,450%), from €75,831 to €1.9m
- Profit (loss) carried forward +€152,482
up €152,482 (+71.4%), from €213,520 to €366,002
- Gross operating margin +€505,140
up €505,140 (+558%), from €90,580 to €595,719
- Financial charges +€168,719
up €168,719 (+590%), from €28,620 to €197,340
- Taxes +€93,784
up €93,784 (+843%), from €11,123 to €104,907
- Other operating charges -€59,043
down €59,043 (-98.2%), from €60,138 to €1,095
- Staff costs +€37,307
new in 2025: €37,307
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 | €4,419,790 | €7,326,480 | +€2.9m | +65.8% |
| Fixed assets | 21/28 | - | €10,000 | +€10,000 | |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €4,419,790 | €7,316,480 | +€2.9m | +65.5% |
| Stocks and contracts in progress | 3 | - | €1,273,468 | +€1.3m | |
| Contracts in progress | 37 | - | €1,273,468 | +€1.3m | |
| Amounts receivable within one year | 40/41 | €2,198,421 | €3,513,424 | +€1.3m | +59.8% |
| Trade receivables | 40 | €2,197,675 | €3,476,375 | +€1.3m | +58.2% |
| Other amounts receivable | 41 | €747 | €37,049 | +€36,302 | +4,862% |
| Cash at bank and in hand | 54/58 | €1,320,412 | €2,469,493 | +€1.1m | +87.0% |
| Deferred charges and accrued income | 490/1 | €900,957 | €60,095 | -€840,862 | -93.3% |
| Total equity and liabilities | 10/49 | €4,419,790 | €7,326,480 | +€2.9m | +65.8% |
| Equity | 10/15 | €238,720 | €391,202 | +€152,482 | +63.9% |
| Contributions | 10/11 | €25,200 | €25,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,520 | €366,002 | +€152,482 | +71.4% |
| Amounts payable | 17/49 | €4,181,070 | €6,935,278 | +€2.8m | +65.9% |
| Amounts payable within one year | 42/48 | €142,461 | €5,957,872 | +€5.8m | +4,082% |
| Trade debts | 44 | €75,831 | €1,933,516 | +€1.9m | +2,450% |
| Suppliers | 440/4 | €75,831 | €1,933,516 | +€1.9m | +2,450% |
| Advances received on contracts in progress | 46 | - | €3,913,642 | +€3.9m | |
| Taxes, remuneration and social security | 45 | €66,630 | €110,714 | +€44,084 | +66.2% |
| Taxes | 450/3 | €66,630 | €104,615 | +€37,985 | +57.0% |
| Remuneration and social security | 454/9 | - | €6,099 | +€6,099 | |
| Accrued charges and deferred income | 492/3 | €4,038,609 | €977,406 | -€3.1m | -75.8% |
| Remuneration, social security and pensions | 62 | - | €37,307 | +€37,307 | |
| Other operating charges | 640/8 | €60,138 | €1,095 | -€59,043 | -98.2% |
| Gross operating margin | 9900 | €90,580 | €595,719 | +€505,140 | +558% |
| Operating profit (loss) | 9901 | €30,442 | €557,317 | +€526,875 | +1,731% |
| Financial income | 75/76B | €33,499 | €47,413 | +€13,914 | +41.5% |
| Recurring financial income | 75 | €33,499 | €47,413 | +€13,914 | +41.5% |
| Financial charges | 65/66B | €28,620 | €197,340 | +€168,719 | +590% |
| Recurring financial charges | 65 | €28,620 | €197,340 | +€168,719 | +590% |
| Profit (loss) for the period before taxes | 9903 | €35,320 | €407,390 | +€372,070 | +1,053% |
| Income taxes | 67/77 | €11,123 | €104,907 | +€93,784 | +843% |
| Profit (loss) for the period | 9904 | €24,197 | €302,482 | +€278,285 | +1,150% |
| Profit (loss) for the period to be appropriated | 9905 | €24,197 | €302,482 | +€278,285 | +1,150% |
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 4 November 2026 via checked.be.