James Lind: 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.
James Lind
Largest movements
- Current investments -€21,580
no longer reported in 2025 (was €21,580)
- Cash +€17,429
new in 2025: €17,429
mainly Current investments (+€21,580) and Depreciation (+€3,150)
- Intangible fixed assets -€3,150
no longer reported in 2025 (was €3,150)
- Profit (loss) carried forward -€8,500
down €8,500 (-0.5%), from -€1.7m to -€1.8m
- Trade debts +€1,198
up €1,198 (+0.6%), from €199,956 to €201,154
- Gross operating margin +€3,299
up €3,299 (+40.7%), from -€8,100 to -€4,801
- Depreciation -€3,150
down €3,150 (-50.0%), from €6,299 to €3,150
- Financial charges -€392
down €392 (-72.3%), from €542 to €150
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 | €25,244 | €17,943 | -€7,302 | -28.9% |
| Fixed assets | 21/28 | €3,150 | - | -€3,150 | |
| Intangible fixed assets | 21 | €3,150 | - | -€3,150 | |
| Current assets | 29/58 | €22,094 | €17,943 | -€4,152 | -18.8% |
| Amounts receivable within one year | 40/41 | €514 | €514 | = | 0.0% |
| Trade receivables | 40 | €514 | €514 | = | 0.0% |
| Current investments | 50/53 | €21,580 | - | -€21,580 | |
| Cash at bank and in hand | 54/58 | - | €17,429 | +€17,429 | |
| Total equity and liabilities | 10/49 | €25,244 | €17,943 | -€7,302 | -28.9% |
| Equity | 10/15 | -€1,162,852 | -€1,171,352 | -€8,500 | -0.7% |
| Contributions | 10/11 | €585,132 | €585,132 | = | 0.0% |
| Capital | 10 | €585,132 | €585,132 | = | 0.0% |
| Issued capital | 100 | €585,132 | €585,132 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,747,984 | -€1,756,484 | -€8,500 | -0.5% |
| Amounts payable | 17/49 | €1,188,097 | €1,189,295 | +€1,198 | +0.1% |
| Amounts payable after more than one year | 17 | €988,141 | €988,141 | = | 0.0% |
| Financial debts | 170/4 | €988,141 | €988,141 | = | 0.0% |
| Amounts payable within one year | 42/48 | €199,956 | €201,154 | +€1,198 | +0.6% |
| Trade debts | 44 | €199,956 | €201,154 | +€1,198 | +0.6% |
| Suppliers | 440/4 | €199,956 | €201,154 | +€1,198 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,299 | €3,150 | -€3,150 | -50.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€8,100 | -€4,801 | +€3,299 | +40.7% |
| Operating profit (loss) | 9901 | -€14,787 | -€8,350 | +€6,437 | +43.5% |
| Financial charges | 65/66B | €542 | €150 | -€392 | -72.3% |
| Recurring financial charges | 65 | €542 | €150 | -€392 | -72.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,329 | -€8,500 | +€6,829 | +44.5% |
| Profit (loss) for the period | 9904 | -€15,329 | -€8,500 | +€6,829 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,329 | -€8,500 | +€6,829 | +44.5% |
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.