We Connect Data: 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.
We Connect Data
Largest movements
- Cash +€521,361
up €521,361 (+179%), from €291,908 to €813,269
mainly Contributions, distributions and other (+€750,000) and Depreciation (+€134,889)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year -€49,781
down €49,781 (-27.2%), from €183,061 to €133,280
of which Trade receivables: -€59,730
- Deferred charges and accrued income +€45,429
up €45,429 (+478%), from €9,508 to €54,937
- Intangible fixed assets -€33,650
down €33,650 (-15.3%), from €219,749 to €186,099
- Contributions +€750,000
up €750,000 (+211%), from €354,994 to €1.1m
- Profit (loss) carried forward -€516,129
down €516,129, from €184,386 to -€331,743
- Short-term financial debts +€125,000
new in 2025: €125,000
- Reserves +€100,000
up €100,000 (+23,552%), from €425 to €100,425
of which Non-distributable reserves: +€100,000
- Trade debts +€83,692
up €83,692 (+51.2%), from €163,559 to €247,251
- Gross operating margin -€364,659
down €364,659, from €331,067 to -€33,593
- Staff costs -€42,837
down €42,837 (-15.1%), from €284,412 to €241,576
- Depreciation +€35,425
up €35,425 (+35.6%), from €99,464 to €134,889
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 | €708,130 | €1,292,498 | +€584,368 | +82.5% |
| Fixed assets | 21/28 | €223,653 | €191,012 | -€32,640 | -14.6% |
| Intangible fixed assets | 21 | €219,749 | €186,099 | -€33,650 | -15.3% |
| Tangible fixed assets | 22/27 | €3,904 | €4,914 | +€1,010 | +25.9% |
| Plant, machinery and equipment | 23 | €3,610 | €4,758 | +€1,148 | +31.8% |
| Furniture and vehicles | 24 | €294 | €156 | -€138 | -47.0% |
| Current assets | 29/58 | €484,477 | €1,101,486 | +€617,009 | +127% |
| Amounts receivable within one year | 40/41 | €183,061 | €133,280 | -€49,781 | -27.2% |
| Trade receivables | 40 | €156,991 | €97,261 | -€59,730 | -38.0% |
| Other amounts receivable | 41 | €26,070 | €36,019 | +€9,948 | +38.2% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €291,908 | €813,269 | +€521,361 | +179% |
| Deferred charges and accrued income | 490/1 | €9,508 | €54,937 | +€45,429 | +478% |
| Total equity and liabilities | 10/49 | €708,130 | €1,292,498 | +€584,368 | +82.5% |
| Equity | 10/15 | €539,805 | €873,675 | +€333,871 | +61.9% |
| Contributions | 10/11 | €354,994 | €1,104,994 | +€750,000 | +211% |
| Reserves | 13 | €425 | €100,425 | +€100,000 | +23,552% |
| Non-distributable reserves | 130/1 | - | €100,000 | +€100,000 | |
| Own shares acquired | 1312 | - | €100,000 | +€100,000 | |
| Distributable reserves | 133 | €425 | €425 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,386 | -€331,743 | -€516,129 | |
| Amounts payable | 17/49 | €168,325 | €418,823 | +€250,497 | +149% |
| Amounts payable within one year | 42/48 | €167,506 | €398,514 | +€231,008 | +138% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €163,559 | €247,251 | +€83,692 | +51.2% |
| Suppliers | 440/4 | €163,559 | €247,251 | +€83,692 | +51.2% |
| Taxes, remuneration and social security | 45 | €499 | €21,537 | +€21,038 | +4,213% |
| Taxes | 450/3 | €499 | €663 | +€164 | +32.8% |
| Remuneration and social security | 454/9 | - | €20,874 | +€20,874 | |
| Other amounts payable | 47/48 | €3,449 | €4,726 | +€1,278 | +37.1% |
| Accrued charges and deferred income | 492/3 | €819 | €20,308 | +€19,490 | +2,380% |
| Remuneration, social security and pensions | 62 | €284,412 | €241,576 | -€42,837 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,464 | €134,889 | +€35,425 | +35.6% |
| Other operating charges | 640/8 | €36 | €268 | +€231 | +640% |
| Gross operating margin | 9900 | €331,067 | -€33,593 | -€364,659 | |
| Operating profit (loss) | 9901 | -€52,846 | -€410,325 | -€357,479 | -676% |
| Financial income | 75/76B | €98 | €2,462 | +€2,363 | +2,406% |
| Recurring financial income | 75 | €98 | €2,462 | +€2,363 | +2,406% |
| Financial charges | 65/66B | €5,808 | €7,981 | +€2,173 | +37.4% |
| Recurring financial charges | 65 | €5,808 | €7,981 | +€2,173 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | -€58,556 | -€415,844 | -€357,289 | -610% |
| Income taxes | 67/77 | €458 | €285 | -€173 | -37.8% |
| Profit (loss) for the period | 9904 | -€59,013 | -€416,129 | -€357,116 | -605% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,013 | -€416,129 | -€357,116 | -605% |
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 14 October 2026 via checked.be.