LINDERO: 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
LINDERO
NACE 43.990, Other specialised construction activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€44,548
2024 · €38,256-€82,804
Equity
-€6,231
2024 · €38,317-€44,548
Cash
€3,533
2024 · €3,291+€242
Balance sheet total
€2.7m
2024 · €61,594+€2.7m
Largest movements
Assets
- Tangible fixed assets +€2.7m
new in 2025: €2.7m
- Receivables within one year -€38,019
down €38,019 (-65.2%), from €58,303 to €20,284
of which Trade receivables: -€39,880
Equity and liabilities
- Debts after one year +€2.0m
new in 2025: €2.0m
- Other debts +€629,216
up €629,216 (+8,193%), from €7,680 to €636,896
- Current portion of long-term debt +€93,631
new in 2025: €93,631
- Profit (loss) carried forward -€44,548
down €44,548, from €33,317 to -€11,231
Income statement
- Gross operating margin -€50,291
no longer reported in 2025 (was €50,291)
- Turnover +€35,650
new in 2025: €35,650
- Financial charges +€32,382
up €32,382 (+64,034%), from €51 to €32,433
- Depreciation +€26,460
new in 2025: €26,460
- Services and other goods +€16,389
new in 2025: €16,389
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
€38,256
Turnover
+€35,650
Services and other goods
-€16,389
Staff costs
+€54
Depreciation
-€26,460
Write-downs
-€1,070
Other operating charges
-€4,648
Other operating items
-€50,291
Financial charges
-€32,382
Taxes
+€12,731
Result 2025
-€44,548
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€642,025
Investment
-€2.7m
Financing
+€2.1m
Cash 2024
€3,291
From operations (derived)
+€642,025
Net result for the year
-€44,548
Depreciation
+€26,460
Receivables within one year
+€38,019
Smaller working-capital items
-€7,849
Tax, wage and social debts
-€7,827
Other debts
+€629,216
Accrued charges and deferred income
+€8,554
Investment (derived)
-€2.7m
Investment in fixed assets (net)
-€2.7m
Financing
+€2.1m
Debts after one year
+€2.0m
Current portion of long-term debt
+€93,631
Cash 2025
€3,533
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,594 | €2,743,913 | +€2.7m | +4,355% |
| Fixed assets | 21/28 | - | €2,716,323 | +€2.7m | |
| Tangible fixed assets | 22/27 | - | €2,716,323 | +€2.7m | |
| Land and buildings | 22 | - | €2,716,323 | +€2.7m | |
| Current assets | 29/58 | €61,594 | €27,589 | -€34,004 | -55.2% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €58,303 | €20,284 | -€38,019 | -65.2% |
| Trade receivables | 40 | €56,760 | €16,880 | -€39,880 | -70.3% |
| Other amounts receivable | 41 | €1,543 | €3,404 | +€1,861 | +121% |
| Cash at bank and in hand | 54/58 | €3,291 | €3,533 | +€242 | +7.3% |
| Deferred charges and accrued income | 490/1 | - | €3,773 | +€3,773 | |
| Total equity and liabilities | 10/49 | €61,594 | €2,743,913 | +€2.7m | +4,355% |
| Equity | 10/15 | €38,317 | -€6,231 | -€44,548 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,317 | -€11,231 | -€44,548 | |
| Amounts payable | 17/49 | €23,277 | €2,750,144 | +€2.7m | +11,715% |
| Amounts payable after more than one year | 17 | - | €2,007,369 | +€2.0m | |
| Financial debts | 170/4 | - | €2,007,369 | +€2.0m | |
| Credit institutions | 173 | - | €2,007,369 | +€2.0m | |
| Amounts payable within one year | 42/48 | €23,277 | €734,221 | +€710,944 | +3,054% |
| Current portion of amounts payable after more than one year | 42 | - | €93,631 | +€93,631 | |
| Trade debts | 44 | €4,169 | €94 | -€4,076 | -97.8% |
| Suppliers | 440/4 | €4,169 | €94 | -€4,076 | -97.8% |
| Taxes, remuneration and social security | 45 | €11,427 | €3,600 | -€7,827 | -68.5% |
| Taxes | 450/3 | €11,427 | €3,600 | -€7,827 | -68.5% |
| Other amounts payable | 47/48 | €7,680 | €636,896 | +€629,216 | +8,193% |
| Accrued charges and deferred income | 492/3 | - | €8,554 | +€8,554 | |
| Operating income | 70/76A | - | €35,650 | +€35,650 | |
| Turnover | 70 | - | €35,650 | +€35,650 | |
| Other operating income | 74 | - | €0 | = | |
| Operating charges | 60/66A | - | €49,069 | +€49,069 | |
| Goods for resale, raw materials and consumables | 60 | - | €0 | = | |
| Purchases | 600/8 | - | €0 | = | |
| Services and other goods | 61 | - | €16,389 | +€16,389 | |
| Remuneration, social security and pensions | 62 | €54 | €0 | -€54 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €26,460 | +€26,460 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,070 | +€1,070 | |
| Other operating charges | 640/8 | €502 | €5,150 | +€4,648 | +925% |
| Gross operating margin | 9900 | €50,291 | - | -€50,291 | |
| Operating profit (loss) | 9901 | €49,734 | -€13,419 | -€63,153 | |
| Financial charges | 65/66B | €51 | €32,433 | +€32,382 | +64,034% |
| Recurring financial charges | 65 | €51 | €32,433 | +€32,382 | +64,034% |
| Debt charges | 650 | - | €29,604 | +€29,604 | |
| Other financial charges | 652/9 | - | €2,828 | +€2,828 | |
| Profit (loss) for the period before taxes | 9903 | €49,684 | -€45,852 | -€95,535 | |
| Income taxes | 67/77 | €11,427 | -€1,304 | -€12,731 | |
| Taxes | 670/3 | - | €0 | = | |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,304 | +€1,304 | |
| Profit (loss) for the period | 9904 | €38,256 | -€44,548 | -€82,804 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,256 | -€44,548 | -€82,804 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.