Lin Van Thielen: what changed
Lin Van Thielen
Largest movements
- Receivables within one year +€13,663
up €13,663 (+419%), from €3,262 to €16,925
of which Trade receivables: +€11,297
- Cash +€10,138
up €10,138 (+407%), from €2,489 to €12,628
mainly Other debts (+€15,662) and Net result for the year (+€13,635)
- Deferred charges and accrued income +€2,104
up €2,104 (+76.5%), from €2,751 to €4,855
- Tangible fixed assets -€1,336
down €1,336 (-5.6%), from €23,683 to €22,348
of which Furniture and vehicles: -€16,051
- Other debts +€15,662
up €15,662 (+5,037%), from €311 to €15,973
- Reserves +€13,635
up €13,635 (+180%), from €7,573 to €21,208
- Debts after one year -€5,971
down €5,971 (-100%), from €5,971 to €0
- Short-term financial debts +€2,230
up €2,230 (+97.8%), from €2,280 to €4,510
of which Other loans: +€4,510
- Trade debts +€2,129
up €2,129 (+77.9%), from €2,732 to €4,861
- Gross operating margin +€14,658
up €14,658 (+103%), from €14,187 to €28,845
- Taxes +€2,842
up €2,842 (+318%), from €893 to €3,734
- Depreciation -€2,582
down €2,582 (-56.5%), from €4,574 to €1,992
- Other operating charges -€1,085
down €1,085 (-76.5%), from €1,418 to €333
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,186 | €56,755 | +€24,569 | +76.3% |
| Fixed assets | 21/28 | €23,683 | €22,348 | -€1,336 | -5.6% |
| Tangible fixed assets | 22/27 | €23,683 | €22,348 | -€1,336 | -5.6% |
| Plant, machinery and equipment | 23 | €1,772 | €17,054 | +€15,282 | +863% |
| Furniture and vehicles | 24 | €16,346 | €295 | -€16,051 | -98.2% |
| Other tangible fixed assets | 26 | €5,565 | €4,999 | -€566 | -10.2% |
| Current assets | 29/58 | €8,503 | €34,407 | +€25,905 | +305% |
| Amounts receivable within one year | 40/41 | €3,262 | €16,925 | +€13,663 | +419% |
| Trade receivables | 40 | €3,262 | €14,558 | +€11,297 | +346% |
| Other amounts receivable | 41 | €0 | €2,366 | +€2,366 | |
| Cash at bank and in hand | 54/58 | €2,489 | €12,628 | +€10,138 | +407% |
| Deferred charges and accrued income | 490/1 | €2,751 | €4,855 | +€2,104 | +76.5% |
| Total equity and liabilities | 10/49 | €32,186 | €56,755 | +€24,569 | +76.3% |
| Equity | 10/15 | €8,573 | €22,208 | +€13,635 | +159% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €7,573 | €21,208 | +€13,635 | +180% |
| Distributable reserves | 133 | €7,573 | €21,208 | +€13,635 | +180% |
| Amounts payable | 17/49 | €23,613 | €34,547 | +€10,935 | +46.3% |
| Amounts payable after more than one year | 17 | €5,971 | €0 | -€5,971 | -100% |
| Financial debts | 170/4 | €5,971 | €0 | -€5,971 | -100% |
| Amounts payable within one year | 42/48 | €15,642 | €34,547 | +€18,905 | +121% |
| Current portion of amounts payable after more than one year | 42 | €6,733 | €5,971 | -€763 | -11.3% |
| Financial debts | 43 | €2,280 | €4,510 | +€2,230 | +97.8% |
| Credit institutions | 430/8 | €2,280 | €0 | -€2,280 | -100% |
| Other loans | 439 | - | €4,510 | +€4,510 | |
| Trade debts | 44 | €2,732 | €4,861 | +€2,129 | +77.9% |
| Suppliers | 440/4 | €2,732 | €4,861 | +€2,129 | +77.9% |
| Taxes, remuneration and social security | 45 | €3,585 | €3,233 | -€353 | -9.8% |
| Taxes | 450/3 | €3,585 | €3,233 | -€353 | -9.8% |
| Other amounts payable | 47/48 | €311 | €15,973 | +€15,662 | +5,037% |
| Accrued charges and deferred income | 492/3 | €2,000 | €0 | -€2,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,574 | €1,992 | -€2,582 | -56.5% |
| Other operating charges | 640/8 | €1,418 | €333 | -€1,085 | -76.5% |
| Non-recurring operating charges | 66A | - | €8,266 | +€8,266 | |
| Gross operating margin | 9900 | €14,187 | €28,845 | +€14,658 | +103% |
| Operating profit (loss) | 9901 | €8,195 | €18,254 | +€10,058 | +123% |
| Financial income | 75/76B | €0 | €219 | +€219 | |
| Recurring financial income | 75 | €0 | €219 | +€219 | |
| Financial charges | 65/66B | €1,334 | €1,103 | -€230 | -17.3% |
| Recurring financial charges | 65 | €1,334 | €1,103 | -€230 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €6,862 | €17,369 | +€10,507 | +153% |
| Income taxes | 67/77 | €893 | €3,734 | +€2,842 | +318% |
| Profit (loss) for the period | 9904 | €5,969 | €13,635 | +€7,665 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €5,969 | €13,635 | +€7,665 | +128% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.