TwO 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.
TwO Connect
Largest movements
- Cash -€30,156
down €30,156 (-53.2%), from €56,648 to €26,492
mainly Deferred charges and accrued income (-€28,611) and Receivables within one year (-€9,606)
- Deferred charges and accrued income +€28,611
new in 2025: €28,611
- Receivables within one year +€9,606
up €9,606 (+31.2%), from €30,829 to €40,435
of which Other amounts receivable: +€4,991
- Financial fixed assets +€5,790
up €5,790 (+1162.6%), from €498 to €6,288
- Tangible fixed assets +€1,383
new in 2025: €1,383
- Reserves +€18,000
up €18,000 (+35.3%), from €51,000 to €69,000
- Other debts -€5,027
down €5,027 (-40.4%), from €12,434 to €7,407
- Debts after one year +€3,726
new in 2025: €3,726
- Trade debts -€3,184
no longer reported in 2025 (was €3,184)
- Profit (loss) carried forward +€2,020
up €2,020, from -€1,116 to €903
- Gross operating margin +€3,117
up €3,117 (+11.7%), from €26,690 to €29,807
- Taxes +€1,575
up €1,575 (+23.8%), from €6,605 to €8,181
- Other operating charges +€678
up €678 (+172.2%), from €394 to €1,072
- Depreciation +€318
new in 2025: €318
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 | €87,975 | €103,208 | +€15,233 | +17.3% |
| Fixed assets | 21/28 | €498 | €7,671 | +€7,173 | +1440.3% |
| Tangible fixed assets | 22/27 | - | €1,383 | +€1,383 | |
| Plant, machinery and equipment | 23 | - | €1,383 | +€1,383 | |
| Financial fixed assets | 28 | €498 | €6,288 | +€5,790 | +1162.6% |
| Current assets | 29/58 | €87,477 | €95,538 | +€8,060 | +9.2% |
| Amounts receivable within one year | 40/41 | €30,829 | €40,435 | +€9,606 | +31.2% |
| Trade receivables | 40 | €30,787 | €35,402 | +€4,615 | +15.0% |
| Other amounts receivable | 41 | €42 | €5,033 | +€4,991 | +11857.2% |
| Cash at bank and in hand | 54/58 | €56,648 | €26,492 | -€30,156 | -53.2% |
| Deferred charges and accrued income | 490/1 | - | €28,611 | +€28,611 | |
| Total equity and liabilities | 10/49 | €87,975 | €103,208 | +€15,233 | +17.3% |
| Equity | 10/15 | €53,884 | €73,903 | +€20,020 | +37.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €51,000 | €69,000 | +€18,000 | +35.3% |
| Non-distributable reserves | 130/1 | €51,000 | €69,000 | +€18,000 | +35.3% |
| Other | 1319 | €51,000 | €69,000 | +€18,000 | +35.3% |
| Profit (loss) carried forward | 14 | -€1,116 | €903 | +€2,020 | |
| Amounts payable | 17/49 | €34,091 | €29,305 | -€4,787 | -14.0% |
| Amounts payable after more than one year | 17 | - | €3,726 | +€3,726 | |
| Financial debts | 170/4 | - | €3,726 | +€3,726 | |
| Amounts payable within one year | 42/48 | €34,091 | €25,579 | -€8,513 | -25.0% |
| Financial debts | 43 | - | €62 | +€62 | |
| Credit institutions | 430/8 | - | €62 | +€62 | |
| Trade debts | 44 | €3,184 | - | -€3,184 | |
| Suppliers | 440/4 | €3,184 | - | -€3,184 | |
| Taxes, remuneration and social security | 45 | €18,474 | €18,110 | -€364 | -2.0% |
| Taxes | 450/3 | €18,474 | €18,110 | -€364 | -2.0% |
| Other amounts payable | 47/48 | €12,434 | €7,407 | -€5,027 | -40.4% |
| Remuneration, social security and pensions | 62 | - | €174 | +€174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €318 | +€318 | |
| Other operating charges | 640/8 | €394 | €1,072 | +€678 | +172.2% |
| Non-recurring operating charges | 66A | €10 | - | -€10 | |
| Gross operating margin | 9900 | €26,690 | €29,807 | +€3,117 | +11.7% |
| Operating profit (loss) | 9901 | €26,286 | €28,243 | +€1,957 | +7.4% |
| Financial income | 75/76B | €0 | €25 | +€25 | +31125.0% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +31125.0% |
| Financial charges | 65/66B | €50 | €68 | +€18 | +35.7% |
| Recurring financial charges | 65 | €50 | €68 | +€18 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €26,236 | €28,200 | +€1,964 | +7.5% |
| Income taxes | 67/77 | €6,605 | €8,181 | +€1,575 | +23.8% |
| Profit (loss) for the period | 9904 | €19,631 | €20,020 | +€389 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,631 | €20,020 | +€389 | +2.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.