Link Build: what changed
Two fiscal 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.
Link Build
Largest movements
- Receivables within one year -€662,624
down €662,624 (-67.2%), from €986,368 to €323,745
of which Other amounts receivable: -€634,695
- Stocks and contracts -€157,403
down €157,403 (-16.6%), from €947,074 to €789,672
- Tangible fixed assets -€61,193
down €61,193 (-4.6%), from €1.3m to €1.3m
of which Land and buildings: -€59,737
- Cash +€39,945
up €39,945 (+276.3%), from €14,457 to €54,403
mainly Receivables within one year (+€662,624) and Stocks and contracts (+€157,403)
- Other debts -€586,829
down €586,829 (-95.1%), from €616,960 to €30,131
- Short-term financial debts -€180,810
down €180,810 (-23.5%), from €769,399 to €588,589
- Debts after one year -€142,592
down €142,592 (-10.4%), from €1.4m to €1.2m
- Reserves +€118,683
up €118,683 (+46.9%), from €253,215 to €371,898
- Tax, wage and social debts -€70,272
down €70,272 (-66.9%), from €105,018 to €34,745
of which Remuneration and social security: -€63,487
- Financial income +€159,050
new in 2025: €159,050
- Purchases and services +€84,295
up €84,295 (+47.5%), from €177,358 to €261,652
- Turnover +€76,775
up €76,775 (+16.3%), from €469,720 to €546,495
- Gross operating margin -€40,023
down €40,023 (-23.6%), from €169,599 to €129,576
- Taxes +€11,301
up €11,301 (+1593.4%), from €709 to €12,010
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.
Cash bridge derived
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 | €3,303,326 | €2,437,241 | -€866,085 | -26.2% |
| Fixed assets | 21/28 | €1,349,453 | €1,266,260 | -€83,193 | -6.2% |
| Tangible fixed assets | 22/27 | €1,327,453 | €1,266,260 | -€61,193 | -4.6% |
| Land and buildings | 22 | €1,316,817 | €1,257,080 | -€59,737 | -4.5% |
| Plant, machinery and equipment | 23 | €3,176 | €3,515 | +€339 | +10.7% |
| Furniture and vehicles | 24 | €7,460 | €5,665 | -€1,795 | -24.1% |
| Financial fixed assets | 28 | €22,000 | - | -€22,000 | |
| Current assets | 29/58 | €1,953,873 | €1,170,980 | -€782,893 | -40.1% |
| Stocks and contracts in progress | 3 | €947,074 | €789,672 | -€157,403 | -16.6% |
| Stocks | 30/36 | €947,074 | €789,672 | -€157,403 | -16.6% |
| Amounts receivable within one year | 40/41 | €986,368 | €323,745 | -€662,624 | -67.2% |
| Trade receivables | 40 | €44,168 | €16,239 | -€27,929 | -63.2% |
| Other amounts receivable | 41 | €942,200 | €307,505 | -€634,695 | -67.4% |
| Cash at bank and in hand | 54/58 | €14,457 | €54,403 | +€39,945 | +276.3% |
| Deferred charges and accrued income | 490/1 | €5,973 | €3,161 | -€2,812 | -47.1% |
| Total equity and liabilities | 10/49 | €3,303,326 | €2,437,241 | -€866,085 | -26.2% |
| Equity | 10/15 | €272,533 | €391,216 | +€118,683 | +43.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €253,215 | €371,898 | +€118,683 | +46.9% |
| Distributable reserves | 133 | €253,215 | €371,898 | +€118,683 | +46.9% |
| Profit (loss) carried forward | 14 | €718 | €718 | = | 0.0% |
| Amounts payable | 17/49 | €3,030,793 | €2,046,025 | -€984,768 | -32.5% |
| Amounts payable after more than one year | 17 | €1,372,114 | €1,229,522 | -€142,592 | -10.4% |
| Financial debts | 170/4 | €1,372,114 | €1,229,522 | -€142,592 | -10.4% |
| Amounts payable within one year | 42/48 | €1,646,196 | €803,513 | -€842,683 | -51.2% |
| Current portion of amounts payable after more than one year | 42 | €140,579 | €142,592 | +€2,012 | +1.4% |
| Financial debts | 43 | €769,399 | €588,589 | -€180,810 | -23.5% |
| Credit institutions | 430/8 | €769,399 | €588,589 | -€180,810 | -23.5% |
| Trade debts | 44 | €14,240 | €7,456 | -€6,784 | -47.6% |
| Suppliers | 440/4 | €14,240 | €7,456 | -€6,784 | -47.6% |
| Taxes, remuneration and social security | 45 | €105,018 | €34,745 | -€70,272 | -66.9% |
| Taxes | 450/3 | €24,735 | €17,950 | -€6,786 | -27.4% |
| Remuneration and social security | 454/9 | €80,282 | €16,796 | -€63,487 | -79.1% |
| Other amounts payable | 47/48 | €616,960 | €30,131 | -€586,829 | -95.1% |
| Accrued charges and deferred income | 492/3 | €12,484 | €12,990 | +€506 | +4.1% |
| Turnover | 70 | €469,720 | €546,495 | +€76,775 | +16.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €177,358 | €261,652 | +€84,295 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,316 | €69,459 | -€1,857 | -2.6% |
| Other operating charges | 640/8 | €28,502 | €24,947 | -€3,556 | -12.5% |
| Non-recurring operating charges | 66A | €135 | €161 | +€26 | +19.3% |
| Gross operating margin | 9900 | €169,599 | €129,576 | -€40,023 | -23.6% |
| Operating profit (loss) | 9901 | €69,646 | €35,010 | -€34,636 | -49.7% |
| Financial income | 75/76B | - | €159,050 | +€159,050 | |
| Recurring financial income | 75 | - | €159,050 | +€159,050 | |
| Financial charges | 65/66B | €63,187 | €63,366 | +€179 | +0.3% |
| Recurring financial charges | 65 | €63,187 | €63,366 | +€179 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €6,459 | €130,693 | +€124,234 | +1923.5% |
| Income taxes | 67/77 | €709 | €12,010 | +€11,301 | +1593.4% |
| Profit (loss) for the period | 9904 | €5,750 | €118,683 | +€112,933 | +1964.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,750 | €118,683 | +€112,933 | +1964.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.