Start 2 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.
Start 2 Connect
Largest movements
- Tangible fixed assets -€24,864
down €24,864 (-5.0%), from €497,473 to €472,609
of which Land and buildings: -€23,016
- Receivables within one year -€20,063
down €20,063 (-39.0%), from €51,433 to €31,370
of which Trade receivables: -€40,792
- Deferred charges and accrued income -€11,084
down €11,084 (-100.0%), from €11,084 to €0
- Accrued charges and deferred income -€57,923
down €57,923 (-74.0%), from €78,310 to €20,387
- Trade debts +€11,670
up €11,670 (+602.4%), from €1,937 to €13,607
- Gross operating margin -€49,469
down €49,469 (-58.7%), from €84,325 to €34,856
- Taxes -€9,174
down €9,174 (-70.2%), from €13,073 to €3,898
- Financial charges -€3,214
down €3,214 (-54.7%), from €5,877 to €2,663
- Financial income -€1,066
down €1,066 (-99.9%), from €1,067 to €1
- Depreciation +€1,050
up €1,050 (+4.2%), from €25,012 to €26,062
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 | €630,121 | €574,431 | -€55,690 | -8.8% |
| Fixed assets | 21/28 | €497,473 | €472,609 | -€24,864 | -5.0% |
| Tangible fixed assets | 22/27 | €497,473 | €472,609 | -€24,864 | -5.0% |
| Land and buildings | 22 | €487,677 | €464,661 | -€23,016 | -4.7% |
| Plant, machinery and equipment | 23 | €1,872 | €1,420 | -€452 | -24.1% |
| Furniture and vehicles | 24 | €7,924 | €6,528 | -€1,397 | -17.6% |
| Current assets | 29/58 | €132,648 | €101,822 | -€30,826 | -23.2% |
| Amounts receivable within one year | 40/41 | €51,433 | €31,370 | -€20,063 | -39.0% |
| Trade receivables | 40 | €48,482 | €7,690 | -€40,792 | -84.1% |
| Other amounts receivable | 41 | €2,951 | €23,680 | +€20,729 | +702.4% |
| Cash at bank and in hand | 54/58 | €70,131 | €70,452 | +€322 | +0.5% |
| Deferred charges and accrued income | 490/1 | €11,084 | €0 | -€11,084 | -100.0% |
| Total equity and liabilities | 10/49 | €630,121 | €574,431 | -€55,690 | -8.8% |
| Equity | 10/15 | €500,864 | €503,090 | +€2,226 | +0.4% |
| Contributions | 10/11 | €420,000 | €420,000 | = | 0.0% |
| Reserves | 13 | €80,864 | €83,090 | +€2,226 | +2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €36,530 | €33,920 | -€2,609 | -7.1% |
| Distributable reserves | 133 | €44,334 | €49,170 | +€4,835 | +10.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €18,810 | €17,466 | -€1,344 | -7.1% |
| Deferred taxes | 168 | €18,810 | €17,466 | -€1,344 | -7.1% |
| Amounts payable | 17/49 | €110,447 | €53,875 | -€56,572 | -51.2% |
| Amounts payable after more than one year | 17 | €23,257 | €17,538 | -€5,720 | -24.6% |
| Other amounts payable | 178/9 | €23,257 | €17,538 | -€5,720 | -24.6% |
| Amounts payable within one year | 42/48 | €8,880 | €15,950 | +€7,070 | +79.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €978 | €0 | -€978 | -100.0% |
| Credit institutions | 430/8 | €978 | €0 | -€978 | -100.0% |
| Trade debts | 44 | €1,937 | €13,607 | +€11,670 | +602.4% |
| Suppliers | 440/4 | €1,937 | €13,607 | +€11,670 | +602.4% |
| Taxes, remuneration and social security | 45 | €5,965 | €2,343 | -€3,622 | -60.7% |
| Taxes | 450/3 | €5,065 | €977 | -€4,088 | -80.7% |
| Remuneration and social security | 454/9 | €900 | €1,367 | +€467 | +51.9% |
| Accrued charges and deferred income | 492/3 | €78,310 | €20,387 | -€57,923 | -74.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,012 | €26,062 | +€1,050 | +4.2% |
| Other operating charges | 640/8 | €741 | €1,352 | +€611 | +82.5% |
| Gross operating margin | 9900 | €84,325 | €34,856 | -€49,469 | -58.7% |
| Operating profit (loss) | 9901 | €58,572 | €7,442 | -€51,130 | -87.3% |
| Financial income | 75/76B | €1,067 | €1 | -€1,066 | -99.9% |
| Recurring financial income | 75 | €1,067 | €1 | -€1,066 | -99.9% |
| Financial charges | 65/66B | €5,877 | €2,663 | -€3,214 | -54.7% |
| Recurring financial charges | 65 | €5,877 | €2,663 | -€3,214 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €53,761 | €4,781 | -€48,981 | -91.1% |
| Transfer from deferred taxes | 780 | €1,344 | €1,344 | = | 0.0% |
| Income taxes | 67/77 | €13,073 | €3,898 | -€9,174 | -70.2% |
| Profit (loss) for the period | 9904 | €42,032 | €2,226 | -€39,806 | -94.7% |
| Transfer from tax-exempt reserves | 789 | €2,609 | €2,609 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,642 | €4,835 | -€39,806 | -89.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.