Linhove: 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.
Linhove
Largest movements
- Tangible fixed assets -€2.3m
down €2.3m (-40.1%), from €5.8m to €3.5m
- Receivables within one year -€1.3m
down €1.3m (-90.1%), from €1.5m to €147,270
of which Trade receivables: -€976,569
- Cash +€134,692
up €134,692 (+273%), from €49,367 to €184,059
mainly Investment in fixed assets (net) (+€2.2m) and Receivables within one year (+€1.3m)
- Current portion of long-term debt -€1.3m
down €1.3m (-100%), from €1.3m to €0
- Other debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Profit (loss) carried forward -€895,425
down €895,425, from €643,920 to -€251,504
- Trade debts -€310,963
down €310,963 (-92.7%), from €335,290 to €24,327
- Gross operating margin -€683,466
down €683,466 (-57.8%), from €1.2m to €499,820
- Taxes -€171,994
down €171,994 (-62.2%), from €276,466 to €104,472
- Depreciation +€32,752
up €32,752 (+68.9%), from €47,523 to €80,275
- Financial charges -€28,573
down €28,573 (-99.2%), from €28,814 to €241
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 | €7,312,146 | €3,787,434 | -€3.5m | -48.2% |
| Fixed assets | 21/28 | €5,770,169 | €3,454,860 | -€2.3m | -40.1% |
| Tangible fixed assets | 22/27 | €5,768,019 | €3,452,710 | -€2.3m | -40.1% |
| Land and buildings | 22 | €5,768,019 | €3,452,710 | -€2.3m | -40.1% |
| Financial fixed assets | 28 | €2,150 | €2,150 | = | 0.0% |
| Current assets | 29/58 | €1,541,978 | €332,574 | -€1.2m | -78.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,491,061 | €147,270 | -€1.3m | -90.1% |
| Trade receivables | 40 | €976,778 | €208 | -€976,569 | -100.0% |
| Other amounts receivable | 41 | €514,284 | €147,062 | -€367,222 | -71.4% |
| Cash at bank and in hand | 54/58 | €49,367 | €184,059 | +€134,692 | +273% |
| Deferred charges and accrued income | 490/1 | €1,550 | €1,245 | -€305 | -19.7% |
| Total equity and liabilities | 10/49 | €7,312,146 | €3,787,434 | -€3.5m | -48.2% |
| Equity | 10/15 | €4,643,920 | €3,748,496 | -€895,425 | -19.3% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Capital | 10 | €4,000,000 | €4,000,000 | = | 0.0% |
| Issued capital | 100 | €4,000,000 | €4,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €643,920 | -€251,504 | -€895,425 | |
| Amounts payable | 17/49 | €2,668,226 | €38,938 | -€2.6m | -98.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,640,226 | €29,280 | -€2.6m | -98.9% |
| Current portion of amounts payable after more than one year | 42 | €1,300,000 | €0 | -€1.3m | -100% |
| Trade debts | 44 | €335,290 | €24,327 | -€310,963 | -92.7% |
| Suppliers | 440/4 | €335,290 | €24,327 | -€310,963 | -92.7% |
| Taxes, remuneration and social security | 45 | €4,936 | €4,953 | +€17 | +0.3% |
| Taxes | 450/3 | €4,936 | €1,053 | -€3,883 | -78.7% |
| Remuneration and social security | 454/9 | €0 | €3,900 | +€3,900 | |
| Other amounts payable | 47/48 | €1,000,000 | €0 | -€1.0m | -100% |
| Accrued charges and deferred income | 492/3 | €28,000 | €9,659 | -€18,342 | -65.5% |
| Non-recurring operating income | 76A | - | €556,678 | +€556,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,523 | €80,275 | +€32,752 | +68.9% |
| Other operating charges | 640/8 | €1,086 | €1,418 | +€333 | +30.7% |
| Non-recurring operating charges | 66A | - | €608,840 | +€608,840 | |
| Gross operating margin | 9900 | €1,183,286 | €499,820 | -€683,466 | -57.8% |
| Operating profit (loss) | 9901 | €1,134,678 | -€190,712 | -€1.3m | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €28,814 | €241 | -€28,573 | -99.2% |
| Recurring financial charges | 65 | €28,814 | €241 | -€28,573 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | €1,105,864 | -€190,953 | -€1.3m | |
| Income taxes | 67/77 | €276,466 | €104,472 | -€171,994 | -62.2% |
| Profit (loss) for the period | 9904 | €829,398 | -€295,425 | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €829,398 | -€295,425 | -€1.1m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.