Financials
Financial year 2025
CONNECT GROUP from Kampenhout, company number BE0448332911, closed financial year 2025 with a result of € -26 million after tax. For that financial year CONNECT GROUP recorded revenue of € 116.8 million and equity of € 33.8 million. Compared with financial year 2024, the result moved from € 5.3 million to € -26 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 1, 2026.
€ 33.8 million
▼ 44% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -26 million
▼ still € 5.3 million profit in 2024
Profit after tax over the fiscal year.
€ 1.6 million
▲ € 1.6 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -14.7 million.
People and assets in 2025
212.6
▼ 2.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 16.8 million
▲ 6% vs 2024
€ 79,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 234,643
▼ 12% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 37.1 million
▼ 4% vs 2024
Loans from banks and other lenders, long and short.
€ 32.2 million
▲ 19% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 111 days on average.
€ 4.4 million
▼ 9% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 111,226,452 | € 131,678,510 | € 117,349,717 | € 116,802,301 | |
| Profit after taxes | € 4,799,436 | € 13,207,437 | € 5,299,217 | € -26,021,658 | ▼ € 31.3 million |
| Equity | € 46,270,697 | € 54,478,133 | € 59,777,351 | € 33,755,693 | ▼ 44% |
| Total debts | € 68,961,024 | € 75,505,054 | € 74,328,683 | € 77,545,931 | ▲ 4% |
| Cash | € 78,490 | € 5,481 | € 1,423 | € 1,561,676 | ▲ € 1.6 million |
| Land & buildings | € 2,056,922 | € 2,146,117 | € 2,006,865 | € 2,007,707 | |
| Retained profit | € -2,150,935 | € 6,056,502 | € 11,355,719 | € -14,665,939 | ▼ € 26 million |
| Dividend | € 0 | € 5,000,000 | € 0 | € 0 | |
| Bank debt | € 38,531,856 | € 43,472,834 | € 38,613,063 | € 37,081,121 | ▼ 4% |
| Balance sheet total | € 116,096,463 | € 130,859,023 | € 134,982,340 | € 118,089,101 | ▼ 13% |
| Employees (FTE) | 216.5 | 216.6 | 214.8 | 212.6 | ▼ 2.2 |
Key figures of CONNECT GROUP, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to CONNECT GROUP?
What happened at CONNECT GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Focus Advies BV stepped down as director. NBB
- Huub Baren BV stepped down as director. NBB
- KC GmbH stepped down as director. NBB
- Adfincon BV stepped down as director. NBB
- Larens Consulting BV stepped down as director. NBB
- Jeroen Tuik BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 26 million (▼ € 31.3 million vs 2024). Source: NBB ↗
- Adfincon BV became a director. NBB
In short
From € 4.8 million profit in 2022 to € 26 million loss in 2025.
Paid € 2.7 million in corporate taxes since 2022.
Best year ever: 2023, with € 13.2 million profit.
Paid out € 5 million in dividends to the owners in total.
Management
The shares are held by IPTE Factoring Automation NV (90%) and Huub Baren BV (10%). It owns 100% of Connect Group GMBH, 100% of Connect Group USA INC, 100% of Connect Group Nederland BV, 100% of Connect Group Espana Donostia SL, 100% of Connect Group Romania SRL and 100% of Connect Group Czech Republic SRO itself.
Directors
According to the 2025 annual accounts
Director · represented by Dominique Roux
Also active at: Edelbims, EURODAL PRODUCTIONS, EBEMA, E.B.R. (EBEMA BETON RIJKEVORSEL), AVANTI RIJKEVORSEL, DECOMECC, HUUB BAREN, EURODAL +2 more
since 2023 · until 2027
Director · represented by Huub Baren
Owns 76% via IPTE Factoring Automation NV
Also active at: IPTE Factory Automation
since 2023 · until 2027
KC GmbH
Director · represented by Klaus Kroesen
since 2023 · until 2027
since 2024 · until 2027
Director · represented by Esme Verheijden
Also active at: HUUB BAREN, IPTE Factory Automation
since 2023 · until 2027
Director · represented by Jeroen Tuik
Owns 5% via IPTE Factoring Automation NV
Also active at: IPTE Factory Automation, eNovates
since 2023 · until 2027
Shareholders
IPTE Factoring Automation NV · holding of Jeroen Tuik BV
90%
10%
Participations
Connect Group GMBH
100%
Connect Group USA INC
100%
Connect Group Nederland BV
100%
Connect Group Espana Donostia SL
100%
Connect Group Romania SRL
100%
Connect Group Czech Republic SRO
100%
90%
Establishments
Establishment units
Physical locations of this company
Industriestraat 4
1910 Kampenhout
Industriestraat 9
1910 Kampenhout
Active since 13 October 2000
Bargiestraat 2
8900 Ieper
Active since 3 January 2007
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0448.332.911
- VAT number
- BE 0448.332.911
- Registered office
- Industriestraat 4, 1910 Kampenhout
- Names & denominations
- CONNECT GROUP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 3 October 1992
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Vervaardiging van elektronische printplaten
Vervaardiging van elektronische onderdelen
Vervaardiging van meet-, controle- en navigatie-instrumenten en -apparatuur