LINCO: 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.
LINCO
Largest movements
- Stocks and contracts -€132,000
no longer reported in 2025 (was €132,000)
- Cash -€33,660
down €33,660 (-86.2%), from €39,050 to €5,390
mainly Net result for the year (-€169,116) and Receivables within one year (-€5,386)
- Receivables after one year -€18,485
down €18,485 (-30.8%), from €60,000 to €41,515
- Receivables within one year +€5,386
up €5,386 (+1,398%), from €385 to €5,771
of which Other amounts receivable: +€5,386
- Profit (loss) carried forward -€169,116
down €169,116 (-130%), from -€130,064 to -€299,180
- Trade debts -€4,415
down €4,415 (-98.2%), from €4,497 to €82
- Tax, wage and social debts -€3,873
down €3,873 (-56.1%), from €6,909 to €3,036
of which Remuneration and social security: -€3,912
- Financial charges +€125,030
up €125,030 (+1,756%), from €7,118 to €132,148
of which Financial charges: +€130,761
- Gross operating margin -€71,470
down €71,470, from €34,343 to -€37,127
- Staff costs -€9,829
down €9,829 (-65.9%), from €14,913 to €5,085
- Financial income +€6,361
new in 2025: €6,361
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 | €235,113 | €57,293 | -€177,820 | -75.6% |
| Fixed assets | 21/28 | €3,169 | €3,950 | +€781 | +24.6% |
| Tangible fixed assets | 22/27 | €3,169 | €3,950 | +€781 | +24.6% |
| Land and buildings | 22 | €1,426 | €1,426 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,744 | €2,525 | +€781 | +44.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €231,944 | €53,343 | -€178,601 | -77.0% |
| Amounts receivable after more than one year | 29 | €60,000 | €41,515 | -€18,485 | -30.8% |
| Trade receivables | 290 | €60,000 | €41,515 | -€18,485 | -30.8% |
| Stocks and contracts in progress | 3 | €132,000 | - | -€132,000 | |
| Stocks | 30/36 | €132,000 | - | -€132,000 | |
| Amounts receivable within one year | 40/41 | €385 | €5,771 | +€5,386 | +1,398% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €385 | €5,771 | +€5,386 | +1,398% |
| Cash at bank and in hand | 54/58 | €39,050 | €5,390 | -€33,660 | -86.2% |
| Deferred charges and accrued income | 490/1 | €509 | €667 | +€158 | +31.1% |
| Total equity and liabilities | 10/49 | €235,113 | €57,293 | -€177,820 | -75.6% |
| Equity | 10/15 | €223,291 | €54,175 | -€169,116 | -75.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €334,755 | €334,755 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €332,895 | €332,895 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,064 | -€299,180 | -€169,116 | -130% |
| Amounts payable | 17/49 | €11,822 | €3,118 | -€8,704 | -73.6% |
| Amounts payable within one year | 42/48 | €11,822 | €3,118 | -€8,704 | -73.6% |
| Trade debts | 44 | €4,497 | €82 | -€4,415 | -98.2% |
| Suppliers | 440/4 | €4,497 | €82 | -€4,415 | -98.2% |
| Taxes, remuneration and social security | 45 | €6,909 | €3,036 | -€3,873 | -56.1% |
| Taxes | 450/3 | €188 | €227 | +€39 | +20.6% |
| Remuneration and social security | 454/9 | €6,721 | €2,810 | -€3,912 | -58.2% |
| Other amounts payable | 47/48 | €416 | - | -€416 | |
| Remuneration, social security and pensions | 62 | €14,913 | €5,085 | -€9,829 | -65.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €465 | €395 | -€70 | -15.1% |
| Other operating charges | 640/8 | €483 | €495 | +€12 | +2.5% |
| Gross operating margin | 9900 | €34,343 | -€37,127 | -€71,470 | |
| Operating profit (loss) | 9901 | €18,481 | -€43,102 | -€61,582 | |
| Financial income | 75/76B | - | €6,361 | +€6,361 | |
| Recurring financial income | 75 | - | €6,361 | +€6,361 | |
| Financial charges | 65/66B | €7,118 | €132,148 | +€125,030 | +1,756% |
| Recurring financial charges | 65 | €1,388 | €132,148 | +€130,761 | +9,422% |
| Non-recurring financial charges | 66B | €5,730 | - | -€5,730 | |
| Profit (loss) for the period before taxes | 9903 | €11,363 | -€168,889 | -€180,252 | |
| Income taxes | 67/77 | €188 | €227 | +€39 | +20.6% |
| Profit (loss) for the period | 9904 | €11,175 | -€169,116 | -€180,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,175 | -€169,116 | -€180,291 |
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 23 October 2026 via checked.be.