Linders Luc: 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.
Linders Luc
Largest movements
- Current investments +€166,343
up €166,343 (+18.5%), from €900,738 to €1.1m
- Cash -€74,342
down €74,342 (-56.8%), from €130,921 to €56,578
mainly Current investments (-€166,343) and Tax, wage and social debts (-€87,642)
- Tangible fixed assets +€58,992
up €58,992 (+13.4%), from €441,400 to €500,392
of which Furniture and vehicles: +€69,359
- Receivables within one year -€29,539
down €29,539 (-12.4%), from €238,449 to €208,910
of which Trade receivables: -€28,734
- Reserves +€202,665
up €202,665 (+13.4%), from €1.5m to €1.7m
of which Distributable reserves: +€202,665
- Tax, wage and social debts -€87,642
down €87,642 (-49.8%), from €176,037 to €88,395
- Gross operating margin -€47,288
down €47,288 (-14.1%), from €334,272 to €286,984
- Financial income +€43,437
up €43,437 (+1,465%), from €2,964 to €46,401
- Other operating charges -€18,635
down €18,635 (-79.7%), from €23,394 to €4,759
- Taxes -€6,440
down €6,440 (-6.5%), from €99,754 to €93,314
- Financial charges +€4,688
up €4,688 (+1,210%), from €387 to €5,076
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,712,521 | €1,832,961 | +€120,440 | +7.0% |
| Fixed assets | 21/28 | €441,400 | €500,392 | +€58,992 | +13.4% |
| Tangible fixed assets | 22/27 | €441,400 | €500,392 | +€58,992 | +13.4% |
| Land and buildings | 22 | €437,296 | €424,593 | -€12,704 | -2.9% |
| Plant, machinery and equipment | 23 | - | €2,337 | +€2,337 | |
| Furniture and vehicles | 24 | €4,104 | €73,463 | +€69,359 | +1,690% |
| Current assets | 29/58 | €1,271,121 | €1,332,569 | +€61,448 | +4.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €238,449 | €208,910 | -€29,539 | -12.4% |
| Trade receivables | 40 | €102,812 | €74,078 | -€28,734 | -27.9% |
| Other amounts receivable | 41 | €135,637 | €134,832 | -€805 | -0.6% |
| Current investments | 50/53 | €900,738 | €1,067,081 | +€166,343 | +18.5% |
| Cash at bank and in hand | 54/58 | €130,921 | €56,578 | -€74,342 | -56.8% |
| Deferred charges and accrued income | 490/1 | €1,014 | €0 | -€1,014 | -100% |
| Total equity and liabilities | 10/49 | €1,712,521 | €1,832,961 | +€120,440 | +7.0% |
| Equity | 10/15 | €1,523,198 | €1,725,863 | +€202,665 | +13.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,516,998 | €1,719,663 | +€202,665 | +13.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,515,138 | €1,717,803 | +€202,665 | +13.4% |
| Amounts payable | 17/49 | €189,323 | €107,098 | -€82,225 | -43.4% |
| Amounts payable within one year | 42/48 | €177,078 | €94,853 | -€82,225 | -46.4% |
| Trade debts | 44 | €662 | €2,257 | +€1,594 | +241% |
| Suppliers | 440/4 | €662 | €2,257 | +€1,594 | +241% |
| Taxes, remuneration and social security | 45 | €176,037 | €88,395 | -€87,642 | -49.8% |
| Taxes | 450/3 | €176,037 | €88,395 | -€87,642 | -49.8% |
| Other amounts payable | 47/48 | €379 | €4,201 | +€3,823 | +1,010% |
| Accrued charges and deferred income | 492/3 | €12,245 | €12,245 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,090 | €24,678 | +€4,588 | +22.8% |
| Other operating charges | 640/8 | €23,394 | €4,759 | -€18,635 | -79.7% |
| Non-recurring operating charges | 66A | €100 | €2,894 | +€2,794 | +2,794% |
| Gross operating margin | 9900 | €334,272 | €286,984 | -€47,288 | -14.1% |
| Operating profit (loss) | 9901 | €290,688 | €254,653 | -€36,035 | -12.4% |
| Financial income | 75/76B | €2,964 | €46,401 | +€43,437 | +1,465% |
| Recurring financial income | 75 | €2,964 | €46,401 | +€43,437 | +1,465% |
| Financial charges | 65/66B | €387 | €5,076 | +€4,688 | +1,210% |
| Recurring financial charges | 65 | €387 | €5,076 | +€4,688 | +1,210% |
| Profit (loss) for the period before taxes | 9903 | €293,265 | €295,978 | +€2,714 | +0.9% |
| Income taxes | 67/77 | €99,754 | €93,314 | -€6,440 | -6.5% |
| Profit (loss) for the period | 9904 | €193,511 | €202,665 | +€9,153 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €193,511 | €202,665 | +€9,153 | +4.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.