O'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.
O'connect
Largest movements
- Cash +€131,293
up €131,293 (+64.1%), from €204,832 to €336,125
mainly Net result for the year (+€91,910) and Tax, wage and social debts (+€35,748)
- Receivables within one year +€25,242
up €25,242 (+90.1%), from €28,013 to €53,255
of which Trade receivables: +€27,959
- Reserves +€91,910
up €91,910 (+67.7%), from €135,704 to €227,614
- Tax, wage and social debts +€35,748
up €35,748 (+79.0%), from €45,248 to €80,996
- Trade debts +€27,569
up €27,569 (+115%), from €23,959 to €51,528
- Gross operating margin -€58,644
down €58,644 (-32.2%), from €182,354 to €123,710
- Taxes -€14,552
down €14,552 (-32.2%), from €45,248 to €30,696
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 | €234,911 | €390,138 | +€155,226 | +66.1% |
| Fixed assets | 21/28 | €1,029 | €758 | -€271 | -26.3% |
| Tangible fixed assets | 22/27 | €1,029 | €758 | -€271 | -26.3% |
| Furniture and vehicles | 24 | €1,029 | €758 | -€271 | -26.3% |
| Current assets | 29/58 | €233,883 | €389,380 | +€155,497 | +66.5% |
| Amounts receivable within one year | 40/41 | €28,013 | €53,255 | +€25,242 | +90.1% |
| Trade receivables | 40 | €25,295 | €53,255 | +€27,959 | +111% |
| Other amounts receivable | 41 | €2,718 | €0 | -€2,718 | -100% |
| Cash at bank and in hand | 54/58 | €204,832 | €336,125 | +€131,293 | +64.1% |
| Deferred charges and accrued income | 490/1 | €1,038 | €0 | -€1,038 | -100% |
| Total equity and liabilities | 10/49 | €234,911 | €390,138 | +€155,226 | +66.1% |
| Equity | 10/15 | €165,704 | €257,614 | +€91,910 | +55.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €135,704 | €227,614 | +€91,910 | +67.7% |
| Distributable reserves | 133 | €135,704 | €227,614 | +€91,910 | +67.7% |
| Amounts payable | 17/49 | €69,207 | €132,524 | +€63,316 | +91.5% |
| Amounts payable within one year | 42/48 | €69,207 | €132,524 | +€63,316 | +91.5% |
| Trade debts | 44 | €23,959 | €51,528 | +€27,569 | +115% |
| Suppliers | 440/4 | €23,959 | €51,528 | +€27,569 | +115% |
| Taxes, remuneration and social security | 45 | €45,248 | €80,996 | +€35,748 | +79.0% |
| Taxes | 450/3 | €45,248 | €80,996 | +€35,748 | +79.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53 | €271 | +€217 | +408% |
| Other operating charges | 640/8 | €1,037 | €400 | -€637 | -61.5% |
| Gross operating margin | 9900 | €182,354 | €123,710 | -€58,644 | -32.2% |
| Operating profit (loss) | 9901 | €181,264 | €123,039 | -€58,224 | -32.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €312 | €434 | +€122 | +39.0% |
| Recurring financial charges | 65 | €312 | €434 | +€122 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €180,952 | €122,606 | -€58,346 | -32.2% |
| Income taxes | 67/77 | €45,248 | €30,696 | -€14,552 | -32.2% |
| Profit (loss) for the period | 9904 | €135,704 | €91,910 | -€43,794 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €135,704 | €91,910 | -€43,794 | -32.3% |
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 17 October 2026 via checked.be.