LINEA NORTE: 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.
LINEA NORTE
Largest movements
- Cash +€113,711
up €113,711 (+182%), from €62,439 to €176,150
mainly Current investments (+€75,000) and Net result for the year (+€47,858)
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Receivables within one year +€4,017
up €4,017 (+22.9%), from €17,548 to €21,565
of which Trade receivables: +€4,097
- Reserves +€46,999
up €46,999 (+42.1%), from €111,583 to €158,582
- Tax, wage and social debts -€12,323
down €12,323 (-28.8%), from €42,733 to €30,410
- Accrued charges and deferred income +€7,125
new in 2025: €7,125
- Gross operating margin -€6,488
down €6,488 (-9.5%), from €68,656 to €62,167
- Financial income +€1,550
up €1,550 (+7,173%), from €22 to €1,572
- Taxes -€1,185
down €1,185 (-8.1%), from €14,664 to €13,480
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 | €158,149 | €200,305 | +€42,156 | +26.7% |
| Fixed assets | 21/28 | €2,629 | €1,972 | -€657 | -25.0% |
| Tangible fixed assets | 22/27 | €2,629 | €1,972 | -€657 | -25.0% |
| Furniture and vehicles | 24 | €2,629 | €1,972 | -€657 | -25.0% |
| Current assets | 29/58 | €155,519 | €198,333 | +€42,814 | +27.5% |
| Amounts receivable within one year | 40/41 | €17,548 | €21,565 | +€4,017 | +22.9% |
| Trade receivables | 40 | €17,033 | €21,130 | +€4,097 | +24.1% |
| Other amounts receivable | 41 | €515 | €436 | -€80 | -15.4% |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €62,439 | €176,150 | +€113,711 | +182% |
| Deferred charges and accrued income | 490/1 | €532 | €618 | +€85 | +16.1% |
| Total equity and liabilities | 10/49 | €158,149 | €200,305 | +€42,156 | +26.7% |
| Equity | 10/15 | €114,583 | €161,582 | +€46,999 | +41.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €111,583 | €158,582 | +€46,999 | +42.1% |
| Distributable reserves | 133 | €111,583 | €158,582 | +€46,999 | +42.1% |
| Amounts payable | 17/49 | €43,566 | €38,723 | -€4,843 | -11.1% |
| Amounts payable within one year | 42/48 | €43,566 | €31,598 | -€11,968 | -27.5% |
| Trade debts | 44 | - | €329 | +€329 | |
| Suppliers | 440/4 | - | €329 | +€329 | |
| Taxes, remuneration and social security | 45 | €42,733 | €30,410 | -€12,323 | -28.8% |
| Taxes | 450/3 | €42,733 | €30,410 | -€12,323 | -28.8% |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Accrued charges and deferred income | 492/3 | - | €7,125 | +€7,125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €657 | €657 | = | 0.0% |
| Other operating charges | 640/8 | €62 | €525 | +€463 | +747% |
| Non-recurring operating charges | 66A | - | €950 | +€950 | |
| Gross operating margin | 9900 | €68,656 | €62,167 | -€6,488 | -9.5% |
| Operating profit (loss) | 9901 | €67,936 | €60,035 | -€7,901 | -11.6% |
| Financial income | 75/76B | €22 | €1,572 | +€1,550 | +7,173% |
| Recurring financial income | 75 | €22 | €1,572 | +€1,550 | +7,173% |
| Financial charges | 65/66B | €123 | €269 | +€146 | +119% |
| Recurring financial charges | 65 | €123 | €269 | +€146 | +119% |
| Profit (loss) for the period before taxes | 9903 | €67,835 | €61,338 | -€6,498 | -9.6% |
| Income taxes | 67/77 | €14,664 | €13,480 | -€1,185 | -8.1% |
| Profit (loss) for the period | 9904 | €53,171 | €47,858 | -€5,313 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,171 | €47,858 | -€5,313 | -10.0% |
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 20 October 2026 via checked.be.