LINDENBERG: 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.
What changed
LINDENBERG
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4,555
2024 · -€4,573+€18
Equity
€638,757
2024 · €643,312-€4,555
Cash
€195,413
2024 · €206,425-€11,012
Balance sheet total
€1.2m
2024 · €1.2m-€36,531
Largest movements
Assets
- Receivables within one year -€32,519
down €32,519 (-94.7%), from €34,330 to €1,811
of which Other amounts receivable: -€29,641
Equity and liabilities
- Debts after one year -€24,268
down €24,268 (-6.3%), from €387,384 to €363,115
Income statement
- Gross operating margin +€14,344
up €14,344 (+45.4%), from €31,574 to €45,918
- Depreciation +€7,220
up €7,220 (+23.2%), from €31,084 to €38,303
- Financial income -€4,683
no longer reported in 2025 (was €4,683)
- Taxes +€1,762
up €1,762 (+200.5%), from €879 to €2,641
- Financial charges +€1,221
up €1,221 (+11.1%), from €10,998 to €12,220
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
-€4,573
Gross operating margin
+€14,344
Depreciation
-€7,220
Other operating charges
+€559
Financial income
-€4,683
Financial charges
-€1,221
Taxes
-€1,762
Result 2025
-€4,555
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.
From operations
+€58,435
Investment
-€45,910
Financing
-€23,538
Cash 2024
€206,425
From operations (derived)
+€58,435
Net result for the year
-€4,555
Depreciation
+€38,303
Receivables within one year
+€32,519
Deferred charges and accrued income
+€606
Provisions
-€4,095
Trade debts
-€4,608
Tax, wage and social debts
-€2,581
Other debts
+€3,172
Accrued charges and deferred income
-€327
Investment (derived)
-€45,910
Investment in fixed assets (net)
-€45,910
Financing
-€23,538
Debts after one year
-€24,268
Current portion of long-term debt
+€731
Cash 2025
€195,413
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,230,572 | €1,194,041 | -€36,531 | -3.0% |
| Fixed assets | 21/28 | €988,474 | €996,081 | +€7,607 | +0.8% |
| Tangible fixed assets | 22/27 | €988,474 | €996,081 | +€7,607 | +0.8% |
| Land and buildings | 22 | €963,088 | €973,558 | +€10,471 | +1.1% |
| Other tangible fixed assets | 26 | €25,387 | €22,523 | -€2,864 | -11.3% |
| Current assets | 29/58 | €242,098 | €197,960 | -€44,138 | -18.2% |
| Amounts receivable within one year | 40/41 | €34,330 | €1,811 | -€32,519 | -94.7% |
| Trade receivables | 40 | €4,330 | €1,452 | -€2,878 | -66.5% |
| Other amounts receivable | 41 | €30,000 | €359 | -€29,641 | -98.8% |
| Cash at bank and in hand | 54/58 | €206,425 | €195,413 | -€11,012 | -5.3% |
| Deferred charges and accrued income | 490/1 | €1,342 | €736 | -€606 | -45.2% |
| Total equity and liabilities | 10/49 | €1,230,572 | €1,194,041 | -€36,531 | -3.0% |
| Equity | 10/15 | €643,312 | €638,757 | -€4,555 | -0.7% |
| Contributions | 10/11 | €235,500 | €235,500 | = | 0.0% |
| Reserves | 13 | €433,791 | €421,507 | -€12,284 | -2.8% |
| Tax-exempt reserves | 132 | €356,091 | €343,807 | -€12,284 | -3.4% |
| Distributable reserves | 133 | €77,700 | €77,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,979 | -€18,251 | +€7,729 | +29.7% |
| Provisions and deferred taxes | 16 | €118,697 | €114,602 | -€4,095 | -3.4% |
| Deferred taxes | 168 | €118,697 | €114,602 | -€4,095 | -3.4% |
| Amounts payable | 17/49 | €468,563 | €440,682 | -€27,881 | -6.0% |
| Amounts payable after more than one year | 17 | €387,384 | €363,115 | -€24,268 | -6.3% |
| Financial debts | 170/4 | €387,384 | €363,115 | -€24,268 | -6.3% |
| Amounts payable within one year | 42/48 | €80,723 | €77,437 | -€3,286 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €23,538 | €24,268 | +€731 | +3.1% |
| Trade debts | 44 | €4,836 | €228 | -€4,608 | -95.3% |
| Suppliers | 440/4 | €4,836 | €228 | -€4,608 | -95.3% |
| Taxes, remuneration and social security | 45 | €3,406 | €826 | -€2,581 | -75.8% |
| Taxes | 450/3 | €3,406 | €826 | -€2,581 | -75.8% |
| Other amounts payable | 47/48 | €48,943 | €52,115 | +€3,172 | +6.5% |
| Accrued charges and deferred income | 492/3 | €456 | €130 | -€327 | -71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,084 | €38,303 | +€7,220 | +23.2% |
| Other operating charges | 640/8 | €1,964 | €1,404 | -€559 | -28.5% |
| Gross operating margin | 9900 | €31,574 | €45,918 | +€14,344 | +45.4% |
| Operating profit (loss) | 9901 | -€1,473 | €6,211 | +€7,684 | |
| Financial income | 75/76B | €4,683 | - | -€4,683 | |
| Recurring financial income | 75 | €4,683 | - | -€4,683 | |
| Financial charges | 65/66B | €10,998 | €12,220 | +€1,221 | +11.1% |
| Recurring financial charges | 65 | €10,998 | €12,220 | +€1,221 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,789 | -€6,009 | +€1,780 | +22.9% |
| Transfer from deferred taxes | 780 | €4,095 | €4,095 | = | 0.0% |
| Income taxes | 67/77 | €879 | €2,641 | +€1,762 | +200.5% |
| Profit (loss) for the period | 9904 | -€4,573 | -€4,555 | +€18 | +0.4% |
| Transfer from tax-exempt reserves | 789 | €12,284 | €12,284 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,711 | €7,729 | +€18 | +0.2% |
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 8 October 2026 via checked.be.