LINDEN: 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
LINDEN
NACE 46.423, Wholesale of clothing, excluding workwear and underwear
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€88,984
2025 · €43,799+€45,185
Equity
€1.4m
2025 · €1.3m+€67,754
Cash
€237,537
2025 · €253,585-€16,048
Balance sheet total
€2.5m
2025 · €2.5m+€35,651
Largest movements
Assets
- Stocks and contracts +€110,474
up €110,474 (+7.5%), from €1.5m to €1.6m
- Tangible fixed assets -€86,889
down €86,889 (-12.9%), from €672,888 to €585,999
of which Other tangible fixed assets: -€86,383
- Receivables within one year +€26,619
up €26,619 (+39.4%), from €67,517 to €94,136
of which Trade receivables: +€31,651
Equity and liabilities
- Debts after one year -€80,329
down €80,329 (-19.7%), from €408,255 to €327,925
- Profit (loss) carried forward +€67,754
up €67,754 (+22.4%), from €302,979 to €370,733
- Trade debts +€39,050
up €39,050 (+6.7%), from €587,057 to €626,107
- Accrued charges and deferred income -€26,329
down €26,329 (-100%), from €26,329 to €0
Income statement
- Gross operating margin +€118,156
up €118,156 (+18.2%), from €650,795 to €768,951
- Write-downs +€76,021
up €76,021 (+307%), from €24,777 to €100,798
- Taxes +€18,307
up €18,307 (+157%), from €11,678 to €29,985
- Staff costs -€12,369
down €12,369 (-2.9%), from €429,204 to €416,835
From the 2025 result to the 2026 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 2025
€43,799
Gross operating margin
+€118,156
Staff costs
+€12,369
Depreciation
-€6,706
Write-downs
-€76,021
Other operating charges
-€31
Other operating items
+€12,830
Financial income
+€349
Financial charges
+€2,547
Taxes
-€18,307
Result 2026
€88,984
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€91,347
Investment
-€7,958
Financing
-€99,437
Cash 2025
€253,585
From operations (derived)
+€91,347
Net result for the year
+€88,984
Depreciation
+€95,953
Stocks and contracts
-€110,474
Receivables within one year
-€26,619
Deferred charges and accrued income
-€2,602
Trade debts
+€39,050
Tax, wage and social debts
+€25,243
Advances received
+€6,417
Other debts
+€1,723
Accrued charges and deferred income
-€26,329
Investment (derived)
-€7,958
Investment in fixed assets (net)
-€7,958
Financing
-€99,437
Debts after one year
-€80,329
Current portion of long-term debt
+€2,122
Contributions, distributions and other
-€21,230
Cash 2026
€237,537
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,496,807 | €2,532,458 | +€35,651 | +1.4% |
| Fixed assets | 21/28 | €674,306 | €586,310 | -€87,996 | -13.0% |
| Intangible fixed assets | 21 | €1,418 | €312 | -€1,106 | -78.0% |
| Tangible fixed assets | 22/27 | €672,888 | €585,999 | -€86,889 | -12.9% |
| Furniture and vehicles | 24 | €24,256 | €23,749 | -€507 | -2.1% |
| Other tangible fixed assets | 26 | €648,632 | €562,249 | -€86,383 | -13.3% |
| Current assets | 29/58 | €1,822,501 | €1,946,148 | +€123,647 | +6.8% |
| Stocks and contracts in progress | 3 | €1,470,890 | €1,581,364 | +€110,474 | +7.5% |
| Stocks | 30/36 | €1,470,890 | €1,581,364 | +€110,474 | +7.5% |
| Amounts receivable within one year | 40/41 | €67,517 | €94,136 | +€26,619 | +39.4% |
| Trade receivables | 40 | €20,714 | €52,365 | +€31,651 | +153% |
| Other amounts receivable | 41 | €46,803 | €41,771 | -€5,032 | -10.8% |
| Cash at bank and in hand | 54/58 | €253,585 | €237,537 | -€16,048 | -6.3% |
| Deferred charges and accrued income | 490/1 | €30,509 | €33,111 | +€2,602 | +8.5% |
| Total equity and liabilities | 10/49 | €2,496,807 | €2,532,458 | +€35,651 | +1.4% |
| Equity | 10/15 | €1,307,488 | €1,375,242 | +€67,754 | +5.2% |
| Contributions | 10/11 | €156,000 | €156,000 | = | 0.0% |
| Capital | 10 | €156,000 | €156,000 | = | 0.0% |
| Issued capital | 100 | €156,000 | €156,000 | = | 0.0% |
| Reserves | 13 | €848,509 | €848,509 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,600 | €15,600 | = | 0.0% |
| Legal reserve | 130 | €15,600 | €15,600 | = | 0.0% |
| Distributable reserves | 133 | €832,909 | €832,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,979 | €370,733 | +€67,754 | +22.4% |
| Amounts payable | 17/49 | €1,189,319 | €1,157,216 | -€32,103 | -2.7% |
| Amounts payable after more than one year | 17 | €408,255 | €327,925 | -€80,329 | -19.7% |
| Financial debts | 170/4 | €408,255 | €327,925 | -€80,329 | -19.7% |
| Amounts payable within one year | 42/48 | €754,736 | €829,291 | +€74,556 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €78,207 | €80,329 | +€2,122 | +2.7% |
| Trade debts | 44 | €587,057 | €626,107 | +€39,050 | +6.7% |
| Suppliers | 440/4 | €587,057 | €626,107 | +€39,050 | +6.7% |
| Advances received on contracts in progress | 46 | €5,322 | €11,739 | +€6,417 | +121% |
| Taxes, remuneration and social security | 45 | €64,149 | €89,393 | +€25,243 | +39.4% |
| Taxes | 450/3 | €20,261 | €48,440 | +€28,179 | +139% |
| Remuneration and social security | 454/9 | €43,888 | €40,952 | -€2,936 | -6.7% |
| Other amounts payable | 47/48 | €20,000 | €21,723 | +€1,723 | +8.6% |
| Accrued charges and deferred income | 492/3 | €26,329 | €0 | -€26,329 | -100% |
| Non-recurring operating income | 76A | - | €15,037 | +€15,037 | |
| Remuneration, social security and pensions | 62 | €429,204 | €416,835 | -€12,369 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,247 | €95,953 | +€6,706 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,777 | €100,798 | +€76,021 | +307% |
| Other operating charges | 640/8 | €1,547 | €1,578 | +€31 | +2.0% |
| Non-recurring operating charges | 66A | €12,848 | €18 | -€12,830 | -99.9% |
| Gross operating margin | 9900 | €650,795 | €768,951 | +€118,156 | +18.2% |
| Operating profit (loss) | 9901 | €93,172 | €153,769 | +€60,597 | +65.0% |
| Financial income | 75/76B | €1,633 | €1,982 | +€349 | +21.3% |
| Recurring financial income | 75 | €1,633 | €1,982 | +€349 | +21.3% |
| Financial charges | 65/66B | €39,329 | €36,782 | -€2,547 | -6.5% |
| Recurring financial charges | 65 | €39,329 | €36,782 | -€2,547 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €55,477 | €118,969 | +€63,492 | +114% |
| Income taxes | 67/77 | €11,678 | €29,985 | +€18,307 | +157% |
| Profit (loss) for the period | 9904 | €43,799 | €88,984 | +€45,185 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €43,799 | €88,984 | +€45,185 | +103% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.