CONNEXITY: 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.
CONNEXITY
Largest movements
- Receivables within one year +€29,929
up €29,929 (+32.1%), from €93,285 to €123,214
of which Trade receivables: +€36,690
- Tangible fixed assets -€17,707
down €17,707 (-32.1%), from €55,133 to €37,426
of which Leasing and similar rights: -€11,961
- Deferred charges and accrued income +€11,008
up €11,008 (+190%), from €5,806 to €16,814
- Intangible fixed assets -€4,995
down €4,995 (-24.5%), from €20,402 to €15,408
- Cash +€3,633
up €3,633 (+15.0%), from €24,139 to €27,771
mainly Depreciation (+€25,101) and Debts after one year (+€18,807)
- Debts after one year +€18,807
up €18,807 (+98.1%), from €19,177 to €37,984
of which Financial debts: +€18,807
- Other debts -€10,527
down €10,527 (-73.1%), from €14,407 to €3,880
- Tax, wage and social debts +€9,952
up €9,952 (+51.9%), from €19,170 to €29,123
of which Remuneration and social security: +€8,307
- Trade debts +€6,250
up €6,250 (+493%), from €1,267 to €7,516
- Current portion of long-term debt -€4,334
down €4,334 (-26.7%), from €16,239 to €11,905
- Gross operating margin -€12,582
down €12,582 (-6.7%), from €187,074 to €174,492
- Staff costs +€4,933
up €4,933 (+3.6%), from €136,478 to €141,411
- Taxes -€3,233
down €3,233 (-63.2%), from €5,115 to €1,882
- Depreciation +€2,507
up €2,507 (+11.1%), from €22,595 to €25,101
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 | €199,383 | €221,252 | +€21,869 | +11.0% |
| Fixed assets | 21/28 | €76,154 | €53,453 | -€22,701 | -29.8% |
| Intangible fixed assets | 21 | €20,402 | €15,408 | -€4,995 | -24.5% |
| Tangible fixed assets | 22/27 | €55,133 | €37,426 | -€17,707 | -32.1% |
| Plant, machinery and equipment | 23 | €14,417 | €11,110 | -€3,307 | -22.9% |
| Furniture and vehicles | 24 | €28,755 | €26,316 | -€2,439 | -8.5% |
| Leasing and similar rights | 25 | €11,961 | €0 | -€11,961 | -100% |
| Financial fixed assets | 28 | €619 | €619 | = | 0.0% |
| Current assets | 29/58 | €123,229 | €167,799 | +€44,570 | +36.2% |
| Amounts receivable within one year | 40/41 | €93,285 | €123,214 | +€29,929 | +32.1% |
| Trade receivables | 40 | €84,768 | €121,458 | +€36,690 | +43.3% |
| Other amounts receivable | 41 | €8,516 | €1,755 | -€6,761 | -79.4% |
| Cash at bank and in hand | 54/58 | €24,139 | €27,771 | +€3,633 | +15.0% |
| Deferred charges and accrued income | 490/1 | €5,806 | €16,814 | +€11,008 | +190% |
| Total equity and liabilities | 10/49 | €199,383 | €221,252 | +€21,869 | +11.0% |
| Equity | 10/15 | €34,624 | €36,344 | +€1,721 | +5.0% |
| Contributions | 10/11 | €124,368 | €124,368 | = | 0.0% |
| Contributions outside capital | 11 | - | €124,368 | +€124,368 | |
| Other | 1109/19 | - | €124,368 | +€124,368 | |
| Profit (loss) carried forward | 14 | -€89,744 | -€88,024 | +€1,721 | +1.9% |
| Amounts payable | 17/49 | €164,760 | €184,908 | +€20,148 | +12.2% |
| Amounts payable after more than one year | 17 | €19,177 | €37,984 | +€18,807 | +98.1% |
| Financial debts | 170/4 | €10,087 | €28,894 | +€18,807 | +186% |
| Other amounts payable | 178/9 | €9,090 | €9,090 | = | 0.0% |
| Amounts payable within one year | 42/48 | €51,083 | €52,424 | +€1,341 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €16,239 | €11,905 | -€4,334 | -26.7% |
| Trade debts | 44 | €1,267 | €7,516 | +€6,250 | +493% |
| Suppliers | 440/4 | €1,267 | €7,516 | +€6,250 | +493% |
| Taxes, remuneration and social security | 45 | €19,170 | €29,123 | +€9,952 | +51.9% |
| Taxes | 450/3 | €6,407 | €8,052 | +€1,645 | +25.7% |
| Remuneration and social security | 454/9 | €12,763 | €21,071 | +€8,307 | +65.1% |
| Other amounts payable | 47/48 | €14,407 | €3,880 | -€10,527 | -73.1% |
| Accrued charges and deferred income | 492/3 | €94,500 | €94,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €136,478 | €141,411 | +€4,933 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,595 | €25,101 | +€2,507 | +11.1% |
| Other operating charges | 640/8 | €2,640 | €1,863 | -€777 | -29.4% |
| Gross operating margin | 9900 | €187,074 | €174,492 | -€12,582 | -6.7% |
| Operating profit (loss) | 9901 | €25,361 | €6,116 | -€19,245 | -75.9% |
| Financial income | 75/76B | €211 | - | -€211 | |
| Recurring financial income | 75 | €211 | - | -€211 | |
| Financial charges | 65/66B | €3,149 | €2,513 | -€636 | -20.2% |
| Recurring financial charges | 65 | €3,149 | €2,513 | -€636 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €22,422 | €3,603 | -€18,819 | -83.9% |
| Income taxes | 67/77 | €5,115 | €1,882 | -€3,233 | -63.2% |
| Profit (loss) for the period | 9904 | €17,307 | €1,721 | -€15,586 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,307 | €1,721 | -€15,586 | -90.1% |
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 26 October 2026 via checked.be.