LINK'UP: 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'UP
Largest movements
- Tangible fixed assets +€14,351
up €14,351 (+68.7%), from €20,892 to €35,243
of which Leasing and similar rights: +€13,684
- Current investments -€10,000
down €10,000 (-40.8%), from €24,500 to €14,500
- Cash +€4,624
up €4,624 (+50.5%), from €9,149 to €13,773
mainly Debts after one year (+€13,340) and Current investments (+€10,000)
- Debts after one year +€13,340
new in 2025: €13,340
- Profit (loss) carried forward -€11,151
down €11,151 (-19.9%), from €56,042 to €44,891
- Current portion of long-term debt +€6,393
up €6,393 (+301.4%), from €2,121 to €8,514
- Trade debts +€3,342
up €3,342 (+385.5%), from €867 to €4,209
- Tax, wage and social debts -€3,061
down €3,061 (-65.1%), from €4,699 to €1,638
- Financial charges +€16,023
up €16,023 (+1339.7%), from €1,196 to €17,219
of which Non-recurring financial charges: +€16,035
- Gross operating margin +€14,491
up €14,491, from -€2,296 to €12,195
- Taxes +€3,117
up €3,117, from -€2,174 to €943
- Depreciation -€1,820
down €1,820 (-26.2%), from €6,948 to €5,128
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 | €78,129 | €86,992 | +€8,863 | +11.3% |
| Fixed assets | 21/28 | €20,933 | €35,284 | +€14,351 | +68.6% |
| Tangible fixed assets | 22/27 | €20,892 | €35,243 | +€14,351 | +68.7% |
| Furniture and vehicles | 24 | €2,378 | €3,045 | +€667 | +28.0% |
| Leasing and similar rights | 25 | €18,514 | €32,198 | +€13,684 | +73.9% |
| Financial fixed assets | 28 | €41 | €41 | = | 0.0% |
| Current assets | 29/58 | €57,196 | €51,708 | -€5,488 | -9.6% |
| Amounts receivable within one year | 40/41 | €22,930 | €22,369 | -€561 | -2.4% |
| Trade receivables | 40 | €8,841 | €13,384 | +€4,543 | +51.4% |
| Other amounts receivable | 41 | €14,089 | €8,985 | -€5,104 | -36.2% |
| Current investments | 50/53 | €24,500 | €14,500 | -€10,000 | -40.8% |
| Cash at bank and in hand | 54/58 | €9,149 | €13,773 | +€4,624 | +50.5% |
| Deferred charges and accrued income | 490/1 | €617 | €1,066 | +€449 | +72.8% |
| Total equity and liabilities | 10/49 | €78,129 | €86,992 | +€8,863 | +11.3% |
| Equity | 10/15 | €70,442 | €59,291 | -€11,151 | -15.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,042 | €44,891 | -€11,151 | -19.9% |
| Amounts payable | 17/49 | €7,687 | €27,701 | +€20,014 | +260.4% |
| Amounts payable after more than one year | 17 | - | €13,340 | +€13,340 | |
| Financial debts | 170/4 | - | €13,340 | +€13,340 | |
| Amounts payable within one year | 42/48 | €7,687 | €14,361 | +€6,674 | +86.8% |
| Current portion of amounts payable after more than one year | 42 | €2,121 | €8,514 | +€6,393 | +301.4% |
| Trade debts | 44 | €867 | €4,209 | +€3,342 | +385.5% |
| Suppliers | 440/4 | €867 | €4,209 | +€3,342 | +385.5% |
| Taxes, remuneration and social security | 45 | €4,699 | €1,638 | -€3,061 | -65.1% |
| Taxes | 450/3 | €4,699 | €1,638 | -€3,061 | -65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,948 | €5,128 | -€1,820 | -26.2% |
| Other operating charges | 640/8 | €96 | €84 | -€12 | -12.5% |
| Gross operating margin | 9900 | -€2,296 | €12,195 | +€14,491 | |
| Operating profit (loss) | 9901 | -€9,340 | €6,983 | +€16,323 | |
| Financial income | 75/76B | €40 | €28 | -€12 | -30.0% |
| Recurring financial income | 75 | €40 | €28 | -€12 | -30.0% |
| Financial charges | 65/66B | €1,196 | €17,219 | +€16,023 | +1339.7% |
| Recurring financial charges | 65 | €1,196 | €1,184 | -€12 | -1.0% |
| Non-recurring financial charges | 66B | - | €16,035 | +€16,035 | |
| Profit (loss) for the period before taxes | 9903 | -€10,496 | -€10,208 | +€288 | +2.7% |
| Income taxes | 67/77 | -€2,174 | €943 | +€3,117 | |
| Profit (loss) for the period | 9904 | -€8,322 | -€11,151 | -€2,829 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,322 | -€11,151 | -€2,829 | -34.0% |
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 2 October 2026 via checked.be.