LINADEL: what changed
Two fiscal 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.
LINADEL
Largest movements
- Current investments -€50,000
down €50,000 (-6.7%), from €750,000 to €700,000
- Cash +€36,045
up €36,045 (+19.2%), from €187,791 to €223,836
mainly Current investments (+€50,000) and Net result for the year (+€33,183)
- Tangible fixed assets +€24,917
up €24,917 (+5.8%), from €432,099 to €457,016
of which Land and buildings: +€33,587
- Receivables within one year -€19,416
down €19,416 (-73.0%), from €26,595 to €7,179
of which Trade receivables: -€22,048
- Reserves +€33,183
up €33,183 (+2.6%), from €1.3m to €1.3m
- Tax, wage and social debts -€15,971
down €15,971 (-97.7%), from €16,345 to €374
- Debts after one year -€15,729
down €15,729 (-17.0%), from €92,745 to €77,015
- Gross operating margin -€21,441
down €21,441 (-24.2%), from €88,777 to €67,336
- Taxes -€7,244
down €7,244 (-27.2%), from €26,632 to €19,388
- Other operating charges -€4,700
down €4,700 (-57.5%), from €8,177 to €3,477
- Depreciation +€3,773
up €3,773 (+17.4%), from €21,722 to €25,495
- Financial income -€2,086
down €2,086 (-10.5%), from €19,856 to €17,770
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.
Cash bridge derived
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 | €1,397,663 | €1,389,157 | -€8,506 | -0.6% |
| Fixed assets | 21/28 | €432,199 | €457,016 | +€24,817 | +5.7% |
| Tangible fixed assets | 22/27 | €432,099 | €457,016 | +€24,917 | +5.8% |
| Land and buildings | 22 | €420,273 | €453,861 | +€33,587 | +8.0% |
| Plant, machinery and equipment | 23 | €136 | €68 | -€68 | -50.0% |
| Furniture and vehicles | 24 | €11,691 | €3,088 | -€8,603 | -73.6% |
| Financial fixed assets | 28 | €100 | - | -€100 | |
| Current assets | 29/58 | €965,463 | €932,141 | -€33,323 | -3.5% |
| Amounts receivable within one year | 40/41 | €26,595 | €7,179 | -€19,416 | -73.0% |
| Trade receivables | 40 | €25,288 | €3,240 | -€22,048 | -87.2% |
| Other amounts receivable | 41 | €1,307 | €3,939 | +€2,632 | +201.5% |
| Current investments | 50/53 | €750,000 | €700,000 | -€50,000 | -6.7% |
| Cash at bank and in hand | 54/58 | €187,791 | €223,836 | +€36,045 | +19.2% |
| Deferred charges and accrued income | 490/1 | €1,078 | €1,126 | +€48 | +4.4% |
| Total equity and liabilities | 10/49 | €1,397,663 | €1,389,157 | -€8,506 | -0.6% |
| Equity | 10/15 | €1,261,563 | €1,294,746 | +€33,183 | +2.6% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Reserves | 13 | €1,253,506 | €1,286,689 | +€33,183 | +2.6% |
| Distributable reserves | 133 | €1,253,506 | €1,286,689 | +€33,183 | +2.6% |
| Amounts payable | 17/49 | €136,100 | €94,411 | -€41,689 | -30.6% |
| Amounts payable after more than one year | 17 | €92,745 | €77,015 | -€15,729 | -17.0% |
| Financial debts | 170/4 | €92,745 | €77,015 | -€15,729 | -17.0% |
| Amounts payable within one year | 42/48 | €43,355 | €17,396 | -€25,959 | -59.9% |
| Current portion of amounts payable after more than one year | 42 | €26,762 | €15,729 | -€11,033 | -41.2% |
| Trade debts | 44 | €248 | €13 | -€235 | -94.9% |
| Suppliers | 440/4 | €248 | €13 | -€235 | -94.9% |
| Taxes, remuneration and social security | 45 | €16,345 | €374 | -€15,971 | -97.7% |
| Taxes | 450/3 | €16,345 | €374 | -€15,971 | -97.7% |
| Other amounts payable | 47/48 | - | €1,279 | +€1,279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,722 | €25,495 | +€3,773 | +17.4% |
| Other operating charges | 640/8 | €8,177 | €3,477 | -€4,700 | -57.5% |
| Gross operating margin | 9900 | €88,777 | €67,336 | -€21,441 | -24.2% |
| Operating profit (loss) | 9901 | €58,878 | €38,364 | -€20,514 | -34.8% |
| Financial income | 75/76B | €19,856 | €17,770 | -€2,086 | -10.5% |
| Recurring financial income | 75 | €19,856 | €17,770 | -€2,086 | -10.5% |
| Financial charges | 65/66B | €2,229 | €3,563 | +€1,334 | +59.8% |
| Recurring financial charges | 65 | €2,229 | €3,563 | +€1,334 | +59.8% |
| Profit (loss) for the period before taxes | 9903 | €76,505 | €52,571 | -€23,935 | -31.3% |
| Income taxes | 67/77 | €26,632 | €19,388 | -€7,244 | -27.2% |
| Profit (loss) for the period | 9904 | €49,874 | €33,183 | -€16,691 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,874 | €33,183 | -€16,691 | -33.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.