DE LINDE: 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.
DE LINDE
Largest movements
- Receivables within one year +€436,555
up €436,555 (+55.1%), from €792,712 to €1.2m
of which Other amounts receivable: +€446,132
- Cash -€254,505
down €254,505 (-64.5%), from €394,553 to €140,048
mainly Receivables within one year (-€436,555) and Contributions, distributions and other (-€350,000)
- Tangible fixed assets -€170,728
down €170,728 (-4.9%), from €3.5m to €3.3m
of which Assets under construction and advance payments: -€102,000
- Stocks and contracts +€54,804
up €54,804 (+51.5%), from €106,353 to €161,157
- Other debts +€357,016
up €357,016 (+156%), from €228,965 to €585,982
- Debts after one year -€182,813
down €182,813 (-7.8%), from €2.3m to €2.2m
- Reserves +€161,468
up €161,468 (+182%), from €88,552 to €250,020
- Trade debts -€149,631
down €149,631 (-100%), from €149,631 to €0
- Tax, wage and social debts -€126,380
down €126,380 (-48.1%), from €262,879 to €136,499
of which Taxes: -€126,650
- Gross operating margin -€291,296
down €291,296 (-21.5%), from €1.4m to €1.1m
- Taxes -€138,648
down €138,648 (-73.2%), from €189,319 to €50,671
- Staff costs -€125,337
down €125,337 (-33.3%), from €375,908 to €250,571
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 | €4,768,604 | €4,834,646 | +€66,041 | +1.4% |
| Fixed assets | 21/28 | €3,474,986 | €3,304,174 | -€170,812 | -4.9% |
| Tangible fixed assets | 22/27 | €3,474,901 | €3,304,174 | -€170,728 | -4.9% |
| Land and buildings | 22 | €3,028,092 | €2,942,904 | -€85,189 | -2.8% |
| Plant, machinery and equipment | 23 | €309,073 | €323,326 | +€14,253 | +4.6% |
| Furniture and vehicles | 24 | €3,564 | €5,922 | +€2,358 | +66.2% |
| Other tangible fixed assets | 26 | €32,172 | €32,022 | -€150 | -0.5% |
| Assets under construction and advance payments | 27 | €102,000 | €0 | -€102,000 | -100% |
| Financial fixed assets | 28 | €85 | €0 | -€85 | -100% |
| Current assets | 29/58 | €1,293,618 | €1,530,472 | +€236,853 | +18.3% |
| Stocks and contracts in progress | 3 | €106,353 | €161,157 | +€54,804 | +51.5% |
| Stocks | 30/36 | €106,353 | €161,157 | +€54,804 | +51.5% |
| Amounts receivable within one year | 40/41 | €792,712 | €1,229,267 | +€436,555 | +55.1% |
| Trade receivables | 40 | €278,590 | €269,012 | -€9,578 | -3.4% |
| Other amounts receivable | 41 | €514,122 | €960,255 | +€446,132 | +86.8% |
| Cash at bank and in hand | 54/58 | €394,553 | €140,048 | -€254,505 | -64.5% |
| Total equity and liabilities | 10/49 | €4,768,604 | €4,834,646 | +€66,041 | +1.4% |
| Equity | 10/15 | €1,488,400 | €1,649,868 | +€161,468 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €778,683 | €778,683 | = | 0.0% |
| Reserves | 13 | €88,552 | €250,020 | +€161,468 | +182% |
| Distributable reserves | 133 | €88,552 | €250,020 | +€161,468 | +182% |
| Profit (loss) carried forward | 14 | €602,565 | €602,565 | = | 0.0% |
| Amounts payable | 17/49 | €3,280,204 | €3,184,778 | -€95,426 | -2.9% |
| Amounts payable after more than one year | 17 | €2,337,338 | €2,154,525 | -€182,813 | -7.8% |
| Financial debts | 170/4 | €2,337,338 | €2,154,525 | -€182,813 | -7.8% |
| Amounts payable within one year | 42/48 | €942,866 | €1,030,252 | +€87,386 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €283,700 | €290,157 | +€6,456 | +2.3% |
| Financial debts | 43 | €17,691 | €17,615 | -€76 | -0.4% |
| Credit institutions | 430/8 | €17,691 | €17,615 | -€76 | -0.4% |
| Trade debts | 44 | €149,631 | €0 | -€149,631 | -100% |
| Suppliers | 440/4 | €149,631 | €0 | -€149,631 | -100% |
| Taxes, remuneration and social security | 45 | €262,879 | €136,499 | -€126,380 | -48.1% |
| Taxes | 450/3 | €243,647 | €116,997 | -€126,650 | -52.0% |
| Remuneration and social security | 454/9 | €19,232 | €19,502 | +€270 | +1.4% |
| Other amounts payable | 47/48 | €228,965 | €585,982 | +€357,016 | +156% |
| Remuneration, social security and pensions | 62 | €375,908 | €250,571 | -€125,337 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,773 | €197,067 | +€5,294 | +2.8% |
| Other operating charges | 640/8 | €26,395 | €26,995 | +€600 | +2.3% |
| Non-recurring operating charges | 66A | - | €1,187 | +€1,187 | |
| Gross operating margin | 9900 | €1,355,265 | €1,063,969 | -€291,296 | -21.5% |
| Operating profit (loss) | 9901 | €761,190 | €588,150 | -€173,040 | -22.7% |
| Financial income | 75/76B | €23,111 | €20,407 | -€2,704 | -11.7% |
| Recurring financial income | 75 | €23,111 | €20,407 | -€2,704 | -11.7% |
| Financial charges | 65/66B | €59,293 | €46,417 | -€12,875 | -21.7% |
| Recurring financial charges | 65 | €59,293 | €46,417 | -€12,875 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €725,008 | €562,139 | -€162,869 | -22.5% |
| Income taxes | 67/77 | €189,319 | €50,671 | -€138,648 | -73.2% |
| Profit (loss) for the period | 9904 | €535,689 | €511,468 | -€24,221 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €535,689 | €511,468 | -€24,221 | -4.5% |
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 16 October 2026 via checked.be.