Linette: 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
Linette
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€202,773
2024 · €181,964+€20,809
Equity
€1.4m
2024 · €1.5m-€117,895
Cash
€51,024
2024 · €41,938+€9,086
Balance sheet total
€2.0m
2024 · €2.2m-€165,718
Largest movements
Assets
- Receivables within one year -€131,588
down €131,588 (-37.1%), from €354,301 to €222,712
of which Other amounts receivable: -€167,126
- Tangible fixed assets -€28,923
down €28,923 (-4.3%), from €676,222 to €647,299
of which Land and buildings: -€25,319
Equity and liabilities
- Reserves -€117,895
down €117,895 (-8.1%), from €1.5m to €1.3m
of which Distributable reserves: -€117,895
- Debts after one year -€36,985
down €36,985 (-6.3%), from €588,765 to €551,780
Income statement
- Gross operating margin +€46,671
up €46,671 (+15.2%), from €307,348 to €354,019
- Taxes +€21,459
up €21,459 (+26.5%), from €80,912 to €102,370
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
€181,964
Gross operating margin
+€46,671
Depreciation
-€1,469
Other operating charges
-€884
Financial income
-€2,233
Financial charges
+€183
Taxes
-€21,459
Result 2025
€202,773
raises the resultlowers the result
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
+€356,528
Investment
+€9,758
Financing
-€357,199
Cash 2024
€41,938
From operations (derived)
+€356,528
Net result for the year
+€202,773
Depreciation
+€34,166
Receivables within one year
+€131,588
Smaller working-capital items
-€3
Trade debts
-€3,082
Tax, wage and social debts
-€8,914
Investment (derived)
+€9,758
Investment in fixed assets (net)
-€5,242
Current investments
+€15,000
Financing
-€357,199
Debts after one year
-€36,985
Current portion of long-term debt
+€564
Short-term financial debts
-€111
Contributions, distributions and other
-€320,667
Cash 2025
€51,024
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,179,779 | €2,014,060 | -€165,718 | -7.6% |
| Fixed assets | 21/28 | €1,640,285 | €1,611,362 | -€28,923 | -1.8% |
| Tangible fixed assets | 22/27 | €676,222 | €647,299 | -€28,923 | -4.3% |
| Land and buildings | 22 | €644,387 | €619,068 | -€25,319 | -3.9% |
| Plant, machinery and equipment | 23 | €29,907 | €26,990 | -€2,916 | -9.8% |
| Furniture and vehicles | 24 | €1,929 | €1,241 | -€688 | -35.7% |
| Financial fixed assets | 28 | €964,063 | €964,063 | = | 0.0% |
| Current assets | 29/58 | €539,494 | €402,699 | -€136,795 | -25.4% |
| Amounts receivable within one year | 40/41 | €354,301 | €222,712 | -€131,588 | -37.1% |
| Trade receivables | 40 | €180,603 | €216,141 | +€35,538 | +19.7% |
| Other amounts receivable | 41 | €173,698 | €6,571 | -€167,126 | -96.2% |
| Current investments | 50/53 | €140,000 | €125,000 | -€15,000 | -10.7% |
| Cash at bank and in hand | 54/58 | €41,938 | €51,024 | +€9,086 | +21.7% |
| Deferred charges and accrued income | 490/1 | €3,255 | €3,962 | +€707 | +21.7% |
| Total equity and liabilities | 10/49 | €2,179,779 | €2,014,060 | -€165,718 | -7.6% |
| Equity | 10/15 | €1,473,154 | €1,355,259 | -€117,895 | -8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,454,554 | €1,336,659 | -€117,895 | -8.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,454,554 | €1,336,659 | -€117,895 | -8.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €706,625 | €658,801 | -€47,824 | -6.8% |
| Amounts payable after more than one year | 17 | €588,765 | €551,780 | -€36,985 | -6.3% |
| Financial debts | 170/4 | €588,765 | €551,780 | -€36,985 | -6.3% |
| Amounts payable within one year | 42/48 | €117,860 | €107,021 | -€10,839 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €36,421 | €36,985 | +€564 | +1.5% |
| Financial debts | 43 | €44,132 | €44,021 | -€111 | -0.3% |
| Credit institutions | 430/8 | €44,132 | €44,021 | -€111 | -0.3% |
| Trade debts | 44 | €5,942 | €2,860 | -€3,082 | -51.9% |
| Suppliers | 440/4 | €5,942 | €2,860 | -€3,082 | -51.9% |
| Taxes, remuneration and social security | 45 | €31,366 | €22,452 | -€8,914 | -28.4% |
| Taxes | 450/3 | €31,366 | €22,452 | -€8,914 | -28.4% |
| Other amounts payable | 47/48 | €0 | €704 | +€704 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,696 | €34,166 | +€1,469 | +4.5% |
| Other operating charges | 640/8 | €6,513 | €7,398 | +€884 | +13.6% |
| Gross operating margin | 9900 | €307,348 | €354,019 | +€46,671 | +15.2% |
| Operating profit (loss) | 9901 | €268,138 | €312,456 | +€44,318 | +16.5% |
| Financial income | 75/76B | €4,492 | €2,260 | -€2,233 | -49.7% |
| Recurring financial income | 75 | €4,492 | €2,260 | -€2,233 | -49.7% |
| Financial charges | 65/66B | €9,755 | €9,572 | -€183 | -1.9% |
| Recurring financial charges | 65 | €9,755 | €9,572 | -€183 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €262,876 | €305,143 | +€42,268 | +16.1% |
| Income taxes | 67/77 | €80,912 | €102,370 | +€21,459 | +26.5% |
| Profit (loss) for the period | 9904 | €181,964 | €202,773 | +€20,809 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €181,964 | €202,773 | +€20,809 | +11.4% |
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 27 October 2026 via checked.be.