LINACOLD: 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
LINACOLD
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€522,388
2024 · €175,683+€346,705
Equity
€1.9m
2024 · €2.0m-€107,203
Cash
€47,562
2024 · €22,661+€24,901
Balance sheet total
€3.2m
2024 · €3.2m+€60,741
Largest movements
Assets
- Stocks and contracts +€344,021
up €344,021 (+382%), from €90,000 to €434,021
- Receivables within one year -€297,414
down €297,414 (-9.8%), from €3.0m to €2.7m
of which Other amounts receivable: -€730,007
Equity and liabilities
- Reserves -€107,203
down €107,203 (-5.4%), from €2.0m to €1.9m
- Short-term financial debts +€100,052
new in 2025: €100,052
- Tax, wage and social debts +€76,461
up €76,461 (+22.3%), from €342,465 to €418,926
of which Taxes: +€79,783
- Trade debts +€33,244
up €33,244 (+8.0%), from €412,980 to €446,224
Income statement
- Gross operating margin +€652,354
up €652,354 (+55.4%), from €1.2m to €1.8m
- Taxes +€171,504
up €171,504 (+174%), from €98,359 to €269,863
- Staff costs +€112,417
up €112,417 (+11.7%), from €958,785 to €1.1m
- Financial income -€20,542
down €20,542 (-26.5%), from €77,450 to €56,908
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
€175,683
Gross operating margin
+€652,354
Staff costs
-€112,417
Depreciation
-€2,441
Other operating charges
-€65
Financial income
-€20,542
Financial charges
+€1,320
Taxes
-€171,504
Result 2025
€522,388
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
+€600,542
Investment
-€5,374
Financing
-€570,267
Cash 2024
€22,661
From operations (derived)
+€600,542
Net result for the year
+€522,388
Depreciation
+€15,870
Stocks and contracts
-€344,021
Receivables within one year
+€297,414
Smaller working-capital items
-€812
Trade debts
+€33,244
Tax, wage and social debts
+€76,461
Investment (derived)
-€5,374
Investment in fixed assets (net)
-€5,374
Financing
-€570,267
Debts after one year
-€30,939
Current portion of long-term debt
-€9,789
Short-term financial debts
+€100,052
Contributions, distributions and other
-€629,590
Cash 2025
€47,562
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,188,885 | €3,249,626 | +€60,741 | +1.9% |
| Fixed assets | 21/28 | €30,251 | €19,756 | -€10,495 | -34.7% |
| Tangible fixed assets | 22/27 | €29,851 | €19,356 | -€10,495 | -35.2% |
| Plant, machinery and equipment | 23 | €25,328 | €16,919 | -€8,408 | -33.2% |
| Furniture and vehicles | 24 | €4,237 | €2,436 | -€1,801 | -42.5% |
| Other tangible fixed assets | 26 | €286 | - | -€286 | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €3,158,634 | €3,229,870 | +€71,236 | +2.3% |
| Stocks and contracts in progress | 3 | €90,000 | €434,021 | +€344,021 | +382% |
| Stocks | 30/36 | €90,000 | €434,021 | +€344,021 | +382% |
| Amounts receivable within one year | 40/41 | €3,044,202 | €2,746,788 | -€297,414 | -9.8% |
| Trade receivables | 40 | €1,071,865 | €1,504,458 | +€432,593 | +40.4% |
| Other amounts receivable | 41 | €1,972,337 | €1,242,330 | -€730,007 | -37.0% |
| Cash at bank and in hand | 54/58 | €22,661 | €47,562 | +€24,901 | +110% |
| Deferred charges and accrued income | 490/1 | €1,772 | €1,499 | -€273 | -15.4% |
| Total equity and liabilities | 10/49 | €3,188,885 | €3,249,626 | +€60,741 | +1.9% |
| Equity | 10/15 | €1,991,621 | €1,884,419 | -€107,203 | -5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,985,421 | €1,878,219 | -€107,203 | -5.4% |
| Distributable reserves | 133 | €1,985,421 | €1,878,219 | -€107,203 | -5.4% |
| Amounts payable | 17/49 | €1,197,264 | €1,365,207 | +€167,943 | +14.0% |
| Amounts payable after more than one year | 17 | €30,939 | - | -€30,939 | |
| Financial debts | 170/4 | €30,939 | - | -€30,939 | |
| Amounts payable within one year | 42/48 | €1,161,872 | €1,361,839 | +€199,968 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €40,729 | €30,939 | -€9,789 | -24.0% |
| Financial debts | 43 | - | €100,052 | +€100,052 | |
| Other loans | 439 | - | €100,052 | +€100,052 | |
| Trade debts | 44 | €412,980 | €446,224 | +€33,244 | +8.0% |
| Suppliers | 440/4 | €412,980 | €446,224 | +€33,244 | +8.0% |
| Advances received on contracts in progress | 46 | €365,698 | €365,698 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €342,465 | €418,926 | +€76,461 | +22.3% |
| Taxes | 450/3 | €288,439 | €368,222 | +€79,783 | +27.7% |
| Remuneration and social security | 454/9 | €54,026 | €50,703 | -€3,322 | -6.1% |
| Accrued charges and deferred income | 492/3 | €4,453 | €3,368 | -€1,085 | -24.4% |
| Remuneration, social security and pensions | 62 | €958,785 | €1,071,202 | +€112,417 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,429 | €15,870 | +€2,441 | +18.2% |
| Other operating charges | 640/8 | €4,677 | €4,742 | +€65 | +1.4% |
| Gross operating margin | 9900 | €1,176,518 | €1,828,872 | +€652,354 | +55.4% |
| Operating profit (loss) | 9901 | €199,628 | €737,059 | +€537,431 | +269% |
| Financial income | 75/76B | €77,450 | €56,908 | -€20,542 | -26.5% |
| Recurring financial income | 75 | €77,450 | €56,908 | -€20,542 | -26.5% |
| Financial charges | 65/66B | €3,036 | €1,715 | -€1,320 | -43.5% |
| Recurring financial charges | 65 | €3,036 | €1,715 | -€1,320 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €274,042 | €792,251 | +€518,209 | +189% |
| Income taxes | 67/77 | €98,359 | €269,863 | +€171,504 | +174% |
| Profit (loss) for the period | 9904 | €175,683 | €522,388 | +€346,705 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €175,683 | €522,388 | +€346,705 | +197% |
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.