LASTLINK: 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.
What changed
LASTLINK
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€179,396
2024 · -€168,300-€11,096
Equity
-€236,301
2024 · -€56,904-€179,396
Cash
€2,926
2024 · €20,233-€17,307
Balance sheet total
€2.2m
2024 · €2.9m-€722,434
Largest movements
Assets
- Stocks and contracts -€833,155
down €833,155 (-99.0%), from €841,852 to €8,698
- Tangible fixed assets +€107,588
up €107,588 (+5.4%), from €2.0m to €2.1m
of which Land and buildings: +€67,271
Equity and liabilities
- Short-term financial debts -€647,525
down €647,525 (-99.6%), from €650,000 to €2,475
- Debts after one year +€173,635
up €173,635 (+9.4%), from €1.8m to €2.0m
of which Financial debts: +€168,685
- Profit (loss) carried forward -€171,283
down €171,283 (-49.4%), from -€346,694 to -€517,978
- Other debts -€111,736
down €111,736 (-37.5%), from €297,811 to €186,075
- Current portion of long-term debt +€31,859
up €31,859 (+51.9%), from €61,420 to €93,279
Income statement
- Depreciation +€24,651
up €24,651 (+25.2%), from €97,720 to €122,371
- Gross operating margin +€14,689
up €14,689 (+27.6%), from €53,200 to €67,888
- Other operating charges +€3,069
up €3,069 (+20.7%), from €14,831 to €17,901
- Financial charges -€1,935
down €1,935 (-1.7%), from €111,653 to €109,718
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.
Result 2024
-€168,300
Gross operating margin
+€14,689
Depreciation
-€24,651
Other operating charges
-€3,069
Financial income
-€0
Financial charges
+€1,935
Result 2025
-€179,396
raises the resultlowers the result
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.
From operations
+€654,169
Investment
-€229,445
Financing
-€442,031
Cash 2024
€20,233
From operations (derived)
+€654,169
Net result for the year
-€179,396
Depreciation
+€122,371
Stocks and contracts
+€833,155
Receivables within one year
+€2,929
Deferred charges and accrued income
-€23,883
Provisions
-€2,704
Trade debts
-€22,962
Tax, wage and social debts
+€11,709
Other debts
-€111,736
Accrued charges and deferred income
+€24,687
Investment (derived)
-€229,445
Investment in fixed assets (net)
-€229,445
Financing
-€442,031
Debts after one year
+€173,635
Current portion of long-term debt
+€31,859
Short-term financial debts
-€647,525
Cash 2025
€2,926
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,934,349 | €2,211,916 | -€722,434 | -24.6% |
| Formation expenses | 20 | €514 | €0 | -€514 | -100% |
| Fixed assets | 21/28 | €1,985,424 | €2,093,012 | +€107,588 | +5.4% |
| Tangible fixed assets | 22/27 | €1,985,424 | €2,093,012 | +€107,588 | +5.4% |
| Land and buildings | 22 | €1,943,403 | €2,010,674 | +€67,271 | +3.5% |
| Plant, machinery and equipment | 23 | €42,021 | €82,338 | +€40,317 | +95.9% |
| Current assets | 29/58 | €948,411 | €118,904 | -€829,507 | -87.5% |
| Stocks and contracts in progress | 3 | €841,852 | €8,698 | -€833,155 | -99.0% |
| Stocks | 30/36 | €841,852 | €8,698 | -€833,155 | -99.0% |
| Amounts receivable within one year | 40/41 | €68,056 | €65,127 | -€2,929 | -4.3% |
| Trade receivables | 40 | €45,681 | €63,299 | +€17,617 | +38.6% |
| Other amounts receivable | 41 | €22,374 | €1,828 | -€20,547 | -91.8% |
| Cash at bank and in hand | 54/58 | €20,233 | €2,926 | -€17,307 | -85.5% |
| Deferred charges and accrued income | 490/1 | €18,270 | €42,153 | +€23,883 | +131% |
| Total equity and liabilities | 10/49 | €2,934,349 | €2,211,916 | -€722,434 | -24.6% |
| Equity | 10/15 | -€56,904 | -€236,301 | -€179,396 | -315% |
| Contributions | 10/11 | €65,692 | €65,692 | = | 0.0% |
| Capital | 10 | €65,692 | €65,692 | = | 0.0% |
| Issued capital | 100 | €65,692 | €65,692 | = | 0.0% |
| Reserves | 13 | €224,098 | €215,985 | -€8,113 | -3.6% |
| Tax-exempt reserves | 132 | €224,098 | €215,985 | -€8,113 | -3.6% |
| Profit (loss) carried forward | 14 | -€346,694 | -€517,978 | -€171,283 | -49.4% |
| Provisions and deferred taxes | 16 | €74,699 | €71,995 | -€2,704 | -3.6% |
| Deferred taxes | 168 | €74,699 | €71,995 | -€2,704 | -3.6% |
| Amounts payable | 17/49 | €2,916,554 | €2,376,221 | -€540,333 | -18.5% |
| Amounts payable after more than one year | 17 | €1,848,852 | €2,022,487 | +€173,635 | +9.4% |
| Financial debts | 170/4 | €1,842,252 | €2,010,937 | +€168,685 | +9.2% |
| Other amounts payable | 178/9 | €6,600 | €11,550 | +€4,950 | +75.0% |
| Amounts payable within one year | 42/48 | €1,043,916 | €305,261 | -€738,655 | -70.8% |
| Current portion of amounts payable after more than one year | 42 | €61,420 | €93,279 | +€31,859 | +51.9% |
| Financial debts | 43 | €650,000 | €2,475 | -€647,525 | -99.6% |
| Credit institutions | 430/8 | €650,000 | €2,475 | -€647,525 | -99.6% |
| Trade debts | 44 | €34,292 | €11,330 | -€22,962 | -67.0% |
| Suppliers | 440/4 | €34,292 | €11,330 | -€22,962 | -67.0% |
| Taxes, remuneration and social security | 45 | €393 | €12,102 | +€11,709 | +2,981% |
| Taxes | 450/3 | €393 | €12,102 | +€11,709 | +2,981% |
| Other amounts payable | 47/48 | €297,811 | €186,075 | -€111,736 | -37.5% |
| Accrued charges and deferred income | 492/3 | €23,786 | €48,473 | +€24,687 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,720 | €122,371 | +€24,651 | +25.2% |
| Other operating charges | 640/8 | €14,831 | €17,901 | +€3,069 | +20.7% |
| Gross operating margin | 9900 | €53,200 | €67,888 | +€14,689 | +27.6% |
| Operating profit (loss) | 9901 | -€59,352 | -€72,383 | -€13,031 | -22.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €111,653 | €109,718 | -€1,935 | -1.7% |
| Recurring financial charges | 65 | €111,653 | €109,718 | -€1,935 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€171,004 | -€182,101 | -€11,096 | -6.5% |
| Transfer from deferred taxes | 780 | €2,704 | €2,704 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€168,300 | -€179,396 | -€11,096 | -6.6% |
| Transfer from tax-exempt reserves | 789 | €8,113 | €8,113 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€160,187 | -€171,283 | -€11,096 | -6.9% |
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 20 October 2026 via checked.be.