LINK MANAGE: 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 MANAGE
Largest movements
- Tangible fixed assets +€443,693
up €443,693 (+57.9%), from €766,521 to €1.2m
of which Land and buildings: +€484,767
- Current investments +€286,040
up €286,040 (+243.3%), from €117,582 to €403,622
- Cash -€131,588
down €131,588 (-54.4%), from €241,713 to €110,125
mainly Investment in fixed assets (net) (-€512,390) and Current investments (-€286,040)
- Receivables within one year -€49,104
down €49,104 (-49.5%), from €99,131 to €50,027
of which Other amounts receivable: -€63,570
- Other debts +€356,280
up €356,280 (+166.3%), from €214,203 to €570,484
- Reserves +€91,158
up €91,158 (+9.8%), from €934,305 to €1.0m
- Trade debts +€71,079
up €71,079 (+857.1%), from €8,293 to €79,372
- Tax, wage and social debts +€30,755
up €30,755 (+47.4%), from €64,889 to €95,643
of which Taxes: +€28,410
- Gross operating margin +€45,677
up €45,677 (+4.5%), from €1.0m to €1.1m
- Staff costs +€40,976
up €40,976 (+6.9%), from €594,125 to €635,101
- Depreciation -€22,131
down €22,131 (-24.4%), from €90,829 to €68,697
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 | €1,242,776 | €1,792,049 | +€549,273 | +44.2% |
| Fixed assets | 21/28 | €766,521 | €1,210,213 | +€443,693 | +57.9% |
| Tangible fixed assets | 22/27 | €766,521 | €1,210,213 | +€443,693 | +57.9% |
| Land and buildings | 22 | €721,479 | €1,206,246 | +€484,767 | +67.2% |
| Plant, machinery and equipment | 23 | €38,937 | €3,968 | -€34,969 | -89.8% |
| Furniture and vehicles | 24 | €6,105 | €0 | -€6,105 | -100.0% |
| Current assets | 29/58 | €476,255 | €581,835 | +€105,580 | +22.2% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €99,131 | €50,027 | -€49,104 | -49.5% |
| Trade receivables | 40 | €11,167 | €25,633 | +€14,466 | +129.5% |
| Other amounts receivable | 41 | €87,964 | €24,394 | -€63,570 | -72.3% |
| Current investments | 50/53 | €117,582 | €403,622 | +€286,040 | +243.3% |
| Cash at bank and in hand | 54/58 | €241,713 | €110,125 | -€131,588 | -54.4% |
| Deferred charges and accrued income | 490/1 | €7,828 | €8,061 | +€233 | +3.0% |
| Total equity and liabilities | 10/49 | €1,242,776 | €1,792,049 | +€549,273 | +44.2% |
| Equity | 10/15 | €955,391 | €1,046,549 | +€91,158 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €934,305 | €1,025,464 | +€91,158 | +9.8% |
| Distributable reserves | 133 | €934,305 | €1,025,464 | +€91,158 | +9.8% |
| Profit (loss) carried forward | 14 | €2,485 | €2,485 | = | 0.0% |
| Amounts payable | 17/49 | €287,385 | €745,499 | +€458,114 | +159.4% |
| Amounts payable within one year | 42/48 | €287,385 | €745,499 | +€458,114 | +159.4% |
| Trade debts | 44 | €8,293 | €79,372 | +€71,079 | +857.1% |
| Suppliers | 440/4 | €8,293 | €79,372 | +€71,079 | +857.1% |
| Taxes, remuneration and social security | 45 | €64,889 | €95,643 | +€30,755 | +47.4% |
| Taxes | 450/3 | €2,313 | €30,724 | +€28,410 | +1228.0% |
| Remuneration and social security | 454/9 | €62,575 | €64,920 | +€2,345 | +3.7% |
| Other amounts payable | 47/48 | €214,203 | €570,484 | +€356,280 | +166.3% |
| Remuneration, social security and pensions | 62 | €594,125 | €635,101 | +€40,976 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,829 | €68,697 | -€22,131 | -24.4% |
| Other operating charges | 640/8 | €4,305 | €3,937 | -€368 | -8.5% |
| Gross operating margin | 9900 | €1,018,219 | €1,063,896 | +€45,677 | +4.5% |
| Operating profit (loss) | 9901 | €328,961 | €356,161 | +€27,200 | +8.3% |
| Financial income | 75/76B | €1,860 | €2 | -€1,858 | -99.9% |
| Recurring financial income | 75 | €1,860 | €2 | -€1,858 | -99.9% |
| Financial charges | 65/66B | €641 | €1,506 | +€865 | +134.9% |
| Recurring financial charges | 65 | €641 | €1,506 | +€865 | +134.9% |
| Profit (loss) for the period before taxes | 9903 | €330,180 | €354,658 | +€24,477 | +7.4% |
| Income taxes | 67/77 | €106,875 | €115,724 | +€8,848 | +8.3% |
| Profit (loss) for the period | 9904 | €223,305 | €238,934 | +€15,629 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €223,305 | €238,934 | +€15,629 | +7.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.