NETCONNECT: what changed
Two fiscal 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.
NETCONNECT
Largest movements
- Receivables within one year -€712,911
down €712,911 (-21.2%), from €3.4m to €2.6m
of which Trade receivables: -€1.2m
- Financial fixed assets +€287,747
up €287,747 (+185.7%), from €154,950 to €442,697
- Tangible fixed assets -€135,990
down €135,990 (-13.6%), from €999,525 to €863,536
- Cash +€97,341
up €97,341 (+19.0%), from €511,228 to €608,569
mainly Receivables within one year (+€712,911) and Depreciation (+€301,150)
- Trade debts -€824,364
down €824,364 (-39.2%), from €2.1m to €1.3m
- Short-term financial debts -€250,000
down €250,000 (-41.7%), from €600,000 to €350,000
- Debts after one year +€202,841
up €202,841 (+122.7%), from €165,334 to €368,174
- Profit (loss) carried forward +€174,991
up €174,991 (+150.4%), from €116,368 to €291,360
- Reserves +€116,368
up €116,368 (+5.5%), from €2.1m to €2.2m
of which Distributable reserves: +€116,368
- Gross operating margin +€287,714
up €287,714 (+8.5%), from €3.4m to €3.7m
- Taxes +€72,955
up €72,955 (+135.4%), from €53,878 to €126,833
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.
Cash bridge derived
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 | €5,675,149 | €5,193,381 | -€481,768 | -8.5% |
| Fixed assets | 21/28 | €1,154,586 | €1,306,233 | +€151,646 | +13.1% |
| Intangible fixed assets | 21 | €111 | - | -€111 | |
| Tangible fixed assets | 22/27 | €999,525 | €863,536 | -€135,990 | -13.6% |
| Land and buildings | 22 | €256,010 | €204,291 | -€51,719 | -20.2% |
| Plant, machinery and equipment | 23 | €74,248 | €56,467 | -€17,781 | -23.9% |
| Furniture and vehicles | 24 | €599,424 | €548,827 | -€50,596 | -8.4% |
| Other tangible fixed assets | 26 | €69,843 | €53,950 | -€15,893 | -22.8% |
| Financial fixed assets | 28 | €154,950 | €442,697 | +€287,747 | +185.7% |
| Current assets | 29/58 | €4,520,562 | €3,887,148 | -€633,414 | -14.0% |
| Stocks and contracts in progress | 3 | €604,856 | €587,783 | -€17,072 | -2.8% |
| Stocks | 30/36 | €422,058 | €412,474 | -€9,583 | -2.3% |
| Contracts in progress | 37 | €182,798 | €175,309 | -€7,489 | -4.1% |
| Amounts receivable within one year | 40/41 | €3,360,504 | €2,647,593 | -€712,911 | -21.2% |
| Trade receivables | 40 | €3,127,077 | €1,886,559 | -€1.2m | -39.7% |
| Other amounts receivable | 41 | €233,427 | €761,034 | +€527,607 | +226.0% |
| Current investments | 50/53 | €350 | €350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €511,228 | €608,569 | +€97,341 | +19.0% |
| Deferred charges and accrued income | 490/1 | €43,625 | €42,852 | -€772 | -1.8% |
| Total equity and liabilities | 10/49 | €5,675,149 | €5,193,381 | -€481,768 | -8.5% |
| Equity | 10/15 | €2,311,977 | €2,603,337 | +€291,360 | +12.6% |
| Contributions | 10/11 | €73,970 | €73,970 | = | 0.0% |
| Reserves | 13 | €2,121,639 | €2,238,007 | +€116,368 | +5.5% |
| Tax-exempt reserves | 132 | €774 | €774 | = | 0.0% |
| Distributable reserves | 133 | €2,120,865 | €2,237,234 | +€116,368 | +5.5% |
| Profit (loss) carried forward | 14 | €116,368 | €291,360 | +€174,991 | +150.4% |
| Amounts payable | 17/49 | €3,363,171 | €2,590,044 | -€773,127 | -23.0% |
| Amounts payable after more than one year | 17 | €165,334 | €368,174 | +€202,841 | +122.7% |
| Financial debts | 170/4 | €165,334 | €368,174 | +€202,841 | +122.7% |
| Amounts payable within one year | 42/48 | €3,197,838 | €2,220,935 | -€976,902 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €41,333 | €80,981 | +€39,648 | +95.9% |
| Financial debts | 43 | €600,000 | €350,000 | -€250,000 | -41.7% |
| Credit institutions | 430/8 | €600,000 | €350,000 | -€250,000 | -41.7% |
| Trade debts | 44 | €2,105,071 | €1,280,707 | -€824,364 | -39.2% |
| Suppliers | 440/4 | €2,105,071 | €1,280,707 | -€824,364 | -39.2% |
| Taxes, remuneration and social security | 45 | €451,433 | €499,342 | +€47,909 | +10.6% |
| Taxes | 450/3 | €62,282 | €108,409 | +€46,128 | +74.1% |
| Remuneration and social security | 454/9 | €389,151 | €390,932 | +€1,781 | +0.5% |
| Other amounts payable | 47/48 | - | €9,905 | +€9,905 | |
| Accrued charges and deferred income | 492/3 | - | €934 | +€934 | |
| Remuneration, social security and pensions | 62 | €2,886,090 | €2,908,020 | +€21,929 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €274,312 | €301,150 | +€26,838 | +9.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €416 | - | -€416 | |
| Other operating charges | 640/8 | €26,451 | €22,629 | -€3,822 | -14.4% |
| Gross operating margin | 9900 | €3,399,335 | €3,687,050 | +€287,714 | +8.5% |
| Operating profit (loss) | 9901 | €212,067 | €455,251 | +€243,184 | +114.7% |
| Financial income | 75/76B | €6,076 | €7,593 | +€1,517 | +25.0% |
| Recurring financial income | 75 | €6,076 | €7,593 | +€1,517 | +25.0% |
| Financial charges | 65/66B | €47,897 | €44,652 | -€3,245 | -6.8% |
| Recurring financial charges | 65 | €47,897 | €44,652 | -€3,245 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €170,246 | €418,192 | +€247,946 | +145.6% |
| Income taxes | 67/77 | €53,878 | €126,833 | +€72,955 | +135.4% |
| Profit (loss) for the period | 9904 | €116,368 | €291,360 | +€174,991 | +150.4% |
| Profit (loss) for the period to be appropriated | 9905 | €116,368 | €291,360 | +€174,991 | +150.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.