LINDER: 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.
LINDER
Largest movements
- Cash +€42,995
up €42,995 (+67.5%), from €63,707 to €106,702
mainly Net result for the year (+€55,663) and Trade debts (+€13,240)
- Tangible fixed assets +€33,498
up €33,498 (+104.2%), from €32,142 to €65,639
of which Other tangible fixed assets: +€35,312
- Current investments -€8,000
down €8,000 (-33.3%), from €24,000 to €16,000
- Reserves +€37,659
up €37,659 (+32.3%), from €116,714 to €154,373
of which Distributable reserves: +€38,480
- Trade debts +€13,240
up €13,240 (+78.4%), from €16,881 to €30,121
- Other debts +€12,192
up €12,192 (+93.1%), from €13,091 to €25,283
- Tax, wage and social debts +€10,836
up €10,836 (+63.6%), from €17,047 to €27,883
of which Taxes: +€6,119
- Debts after one year -€3,913
down €3,913 (-29.0%), from €13,496 to €9,584
- Gross operating margin +€47,521
up €47,521 (+35.8%), from €132,595 to €180,116
- Staff costs +€19,289
up €19,289 (+26.5%), from €72,856 to €92,145
- Taxes +€6,295
up €6,295 (+44.6%), from €14,114 to €20,410
- Depreciation -€2,715
down €2,715 (-22.6%), from €11,999 to €9,283
- Financial charges +€1,833
up €1,833 (+113.7%), from €1,612 to €3,445
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 | €208,316 | €276,242 | +€67,926 | +32.6% |
| Fixed assets | 21/28 | €35,395 | €68,358 | +€32,963 | +93.1% |
| Intangible fixed assets | 21 | €3,253 | €2,718 | -€535 | -16.4% |
| Tangible fixed assets | 22/27 | €32,142 | €65,639 | +€33,498 | +104.2% |
| Plant, machinery and equipment | 23 | €23,049 | €21,860 | -€1,189 | -5.2% |
| Furniture and vehicles | 24 | €2,736 | €2,111 | -€625 | -22.8% |
| Other tangible fixed assets | 26 | €6,357 | €41,668 | +€35,312 | +555.5% |
| Current assets | 29/58 | €172,921 | €207,884 | +€34,963 | +20.2% |
| Stocks and contracts in progress | 3 | €12,794 | €14,816 | +€2,022 | +15.8% |
| Stocks | 30/36 | €12,794 | €14,816 | +€2,022 | +15.8% |
| Amounts receivable within one year | 40/41 | €71,842 | €69,964 | -€1,878 | -2.6% |
| Trade receivables | 40 | €66,462 | €66,982 | +€520 | +0.8% |
| Other amounts receivable | 41 | €5,380 | €2,981 | -€2,399 | -44.6% |
| Current investments | 50/53 | €24,000 | €16,000 | -€8,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €63,707 | €106,702 | +€42,995 | +67.5% |
| Deferred charges and accrued income | 490/1 | €577 | €402 | -€175 | -30.4% |
| Total equity and liabilities | 10/49 | €208,316 | €276,242 | +€67,926 | +32.6% |
| Equity | 10/15 | €136,735 | €174,398 | +€37,663 | +27.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €116,714 | €154,373 | +€37,659 | +32.3% |
| Tax-exempt reserves | 132 | €8,421 | €7,600 | -€821 | -9.8% |
| Distributable reserves | 133 | €108,293 | €146,773 | +€38,480 | +35.5% |
| Profit (loss) carried forward | 14 | €20 | €25 | +€5 | +22.9% |
| Provisions and deferred taxes | 16 | €274 | - | -€274 | |
| Deferred taxes | 168 | €274 | - | -€274 | |
| Amounts payable | 17/49 | €71,307 | €101,844 | +€30,536 | +42.8% |
| Amounts payable after more than one year | 17 | €13,496 | €9,584 | -€3,913 | -29.0% |
| Financial debts | 170/4 | €13,496 | €9,584 | -€3,913 | -29.0% |
| Amounts payable within one year | 42/48 | €57,811 | €92,260 | +€34,449 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €7,747 | €3,913 | -€3,834 | -49.5% |
| Financial debts | 43 | €3,046 | €5,061 | +€2,015 | +66.2% |
| Credit institutions | 430/8 | €3,046 | €5,061 | +€2,015 | +66.2% |
| Trade debts | 44 | €16,881 | €30,121 | +€13,240 | +78.4% |
| Suppliers | 440/4 | €16,881 | €30,121 | +€13,240 | +78.4% |
| Taxes, remuneration and social security | 45 | €17,047 | €27,883 | +€10,836 | +63.6% |
| Taxes | 450/3 | €5,868 | €11,988 | +€6,119 | +104.3% |
| Remuneration and social security | 454/9 | €11,179 | €15,895 | +€4,717 | +42.2% |
| Other amounts payable | 47/48 | €13,091 | €25,283 | +€12,192 | +93.1% |
| Remuneration, social security and pensions | 62 | €72,856 | €92,145 | +€19,289 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,999 | €9,283 | -€2,715 | -22.6% |
| Other operating charges | 640/8 | €1,331 | €856 | -€475 | -35.7% |
| Gross operating margin | 9900 | €132,595 | €180,116 | +€47,521 | +35.8% |
| Operating profit (loss) | 9901 | €46,410 | €77,832 | +€31,422 | +67.7% |
| Financial income | 75/76B | €1,459 | €1,412 | -€47 | -3.2% |
| Recurring financial income | 75 | €1,459 | €1,412 | -€47 | -3.2% |
| Financial charges | 65/66B | €1,612 | €3,445 | +€1,833 | +113.7% |
| Recurring financial charges | 65 | €1,612 | €3,445 | +€1,833 | +113.7% |
| Profit (loss) for the period before taxes | 9903 | €46,257 | €75,799 | +€29,542 | +63.9% |
| Transfer from deferred taxes | 780 | €518 | €274 | -€244 | -47.1% |
| Income taxes | 67/77 | €14,114 | €20,410 | +€6,295 | +44.6% |
| Profit (loss) for the period | 9904 | €32,661 | €55,663 | +€23,003 | +70.4% |
| Transfer from tax-exempt reserves | 789 | €1,553 | €821 | -€732 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,214 | €56,485 | +€22,271 | +65.1% |
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 2 October 2026 via checked.be.