LINDEPHAR: 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.
LINDEPHAR
Largest movements
- Receivables within one year -€217,950
down €217,950 (-19.8%), from €1.1m to €884,752
of which Trade receivables: -€355,763
- Tangible fixed assets -€82,500
down €82,500 (-14.9%), from €555,413 to €472,913
- Cash +€31,061
up €31,061 (+72.8%), from €42,683 to €73,744
mainly Receivables within one year (+€217,950) and Depreciation (+€88,985)
- Stocks and contracts -€29,117
down €29,117 (-13.4%), from €217,441 to €188,325
- Trade debts -€331,499
down €331,499 (-53.2%), from €623,056 to €291,557
- Debts after one year -€66,396
down €66,396 (-29.4%), from €226,061 to €159,665
- Reserves +€55,567
up €55,567 (+8.2%), from €673,604 to €729,171
of which Distributable reserves: +€55,567
- Tax, wage and social debts +€34,832
up €34,832 (+56.3%), from €61,819 to €96,651
of which Remuneration and social security: +€20,600
- Current portion of long-term debt +€23,470
up €23,470 (+35.7%), from €65,720 to €89,190
- Gross operating margin +€52,660
up €52,660 (+9.8%), from €539,431 to €592,091
- Taxes +€10,088
up €10,088 (+78.8%), from €12,796 to €22,884
- Staff costs +€9,260
up €9,260 (+2.4%), from €384,970 to €394,230
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 | €1,931,476 | €1,630,883 | -€300,593 | -15.6% |
| Fixed assets | 21/28 | €565,619 | €479,719 | -€85,900 | -15.2% |
| Intangible fixed assets | 21 | €6,800 | €3,400 | -€3,400 | -50.0% |
| Tangible fixed assets | 22/27 | €555,413 | €472,913 | -€82,500 | -14.9% |
| Land and buildings | 22 | €261,241 | €231,358 | -€29,883 | -11.4% |
| Plant, machinery and equipment | 23 | €18,770 | €13,700 | -€5,071 | -27.0% |
| Furniture and vehicles | 24 | €4,102 | €1,278 | -€2,825 | -68.9% |
| Leasing and similar rights | 25 | €15,360 | €7,680 | -€7,680 | -50.0% |
| Other tangible fixed assets | 26 | €255,939 | €218,898 | -€37,041 | -14.5% |
| Financial fixed assets | 28 | €3,406 | €3,406 | = | 0.0% |
| Current assets | 29/58 | €1,365,857 | €1,151,164 | -€214,693 | -15.7% |
| Stocks and contracts in progress | 3 | €217,441 | €188,325 | -€29,117 | -13.4% |
| Stocks | 30/36 | €217,441 | €188,325 | -€29,117 | -13.4% |
| Amounts receivable within one year | 40/41 | €1,102,703 | €884,752 | -€217,950 | -19.8% |
| Trade receivables | 40 | €688,703 | €332,940 | -€355,763 | -51.7% |
| Other amounts receivable | 41 | €413,999 | €551,812 | +€137,813 | +33.3% |
| Cash at bank and in hand | 54/58 | €42,683 | €73,744 | +€31,061 | +72.8% |
| Deferred charges and accrued income | 490/1 | €3,030 | €4,344 | +€1,314 | +43.3% |
| Total equity and liabilities | 10/49 | €1,931,476 | €1,630,883 | -€300,593 | -15.6% |
| Equity | 10/15 | €735,604 | €791,171 | +€55,567 | +7.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €673,604 | €729,171 | +€55,567 | +8.2% |
| Non-distributable reserves | 130/1 | €14,254 | €14,254 | = | 0.0% |
| Legal reserve | 130 | €14,254 | €14,254 | = | 0.0% |
| Distributable reserves | 133 | €659,350 | €714,918 | +€55,567 | +8.4% |
| Amounts payable | 17/49 | €1,195,872 | €839,712 | -€356,160 | -29.8% |
| Amounts payable after more than one year | 17 | €226,061 | €159,665 | -€66,396 | -29.4% |
| Financial debts | 170/4 | €226,061 | €159,665 | -€66,396 | -29.4% |
| Amounts payable within one year | 42/48 | €969,630 | €679,912 | -€289,718 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €65,720 | €89,190 | +€23,470 | +35.7% |
| Financial debts | 43 | €212,065 | €195,554 | -€16,511 | -7.8% |
| Credit institutions | 430/8 | €212,065 | €195,554 | -€16,511 | -7.8% |
| Trade debts | 44 | €623,056 | €291,557 | -€331,499 | -53.2% |
| Suppliers | 440/4 | €623,056 | €291,557 | -€331,499 | -53.2% |
| Taxes, remuneration and social security | 45 | €61,819 | €96,651 | +€34,832 | +56.3% |
| Taxes | 450/3 | €14,269 | €28,500 | +€14,231 | +99.7% |
| Remuneration and social security | 454/9 | €47,550 | €68,151 | +€20,600 | +43.3% |
| Other amounts payable | 47/48 | €6,970 | €6,960 | -€10 | -0.1% |
| Accrued charges and deferred income | 492/3 | €180 | €135 | -€45 | -25.0% |
| Remuneration, social security and pensions | 62 | €384,970 | €394,230 | +€9,260 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,254 | €88,985 | -€270 | -0.3% |
| Other operating charges | 640/8 | €5,935 | €9,073 | +€3,137 | +52.9% |
| Gross operating margin | 9900 | €539,431 | €592,091 | +€52,660 | +9.8% |
| Operating profit (loss) | 9901 | €59,271 | €99,804 | +€40,533 | +68.4% |
| Financial income | 75/76B | €7,813 | €4,018 | -€3,795 | -48.6% |
| Recurring financial income | 75 | €7,813 | €4,018 | -€3,795 | -48.6% |
| Financial charges | 65/66B | €30,962 | €25,371 | -€5,591 | -18.1% |
| Recurring financial charges | 65 | €30,962 | €25,371 | -€5,591 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €36,122 | €78,451 | +€42,329 | +117.2% |
| Income taxes | 67/77 | €12,796 | €22,884 | +€10,088 | +78.8% |
| Profit (loss) for the period | 9904 | €23,327 | €55,567 | +€32,240 | +138.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,327 | €55,567 | +€32,240 | +138.2% |
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 1 October 2026 via checked.be.