LINK2PROJECT: 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.
LINK2PROJECT
Largest movements
- Cash -€116,230
down €116,230 (-58.6%), from €198,337 to €82,107
mainly Other debts (-€116,187) and Net result for the year (-€18,063)
- Tangible fixed assets -€22,313
down €22,313 (-3.7%), from €605,117 to €582,804
- Receivables within one year +€12,748
up €12,748 (+121.9%), from €10,459 to €23,207
of which Other amounts receivable: +€12,104
- Other debts -€116,187
no longer reported in 2025 (was €116,187)
- Profit (loss) carried forward -€18,063
down €18,063 (-3.0%), from €594,666 to €576,602
- Gross operating margin -€2,766
down €2,766 (-49.9%), from €5,538 to €2,772
- Financial income -€2,501
down €2,501 (-39.1%), from €6,402 to €3,901
- Depreciation -€425
down €425 (-1.9%), from €22,738 to €22,313
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 | €856,818 | €722,461 | -€134,357 | -15.7% |
| Fixed assets | 21/28 | €605,117 | €582,804 | -€22,313 | -3.7% |
| Tangible fixed assets | 22/27 | €605,117 | €582,804 | -€22,313 | -3.7% |
| Land and buildings | 22 | €605,117 | €582,804 | -€22,313 | -3.7% |
| Current assets | 29/58 | €251,701 | €139,658 | -€112,044 | -44.5% |
| Amounts receivable after more than one year | 29 | €42,905 | €34,343 | -€8,562 | -20.0% |
| Other amounts receivable | 291 | €42,905 | €34,343 | -€8,562 | -20.0% |
| Amounts receivable within one year | 40/41 | €10,459 | €23,207 | +€12,748 | +121.9% |
| Trade receivables | 40 | - | €645 | +€645 | |
| Other amounts receivable | 41 | €10,459 | €22,563 | +€12,104 | +115.7% |
| Cash at bank and in hand | 54/58 | €198,337 | €82,107 | -€116,230 | -58.6% |
| Total equity and liabilities | 10/49 | €856,818 | €722,461 | -€134,357 | -15.7% |
| Equity | 10/15 | €740,418 | €722,355 | -€18,063 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €127,152 | €127,152 | = | 0.0% |
| Distributable reserves | 133 | €127,152 | €127,152 | = | 0.0% |
| Profit (loss) carried forward | 14 | €594,666 | €576,602 | -€18,063 | -3.0% |
| Amounts payable | 17/49 | €116,400 | €107 | -€116,294 | -99.9% |
| Amounts payable within one year | 42/48 | €116,400 | €107 | -€116,294 | -99.9% |
| Trade debts | 44 | €213 | €107 | -€107 | -50.0% |
| Suppliers | 440/4 | €213 | €107 | -€107 | -50.0% |
| Other amounts payable | 47/48 | €116,187 | - | -€116,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,738 | €22,313 | -€425 | -1.9% |
| Other operating charges | 640/8 | €2,337 | €2,371 | +€34 | +1.4% |
| Gross operating margin | 9900 | €5,538 | €2,772 | -€2,766 | -49.9% |
| Operating profit (loss) | 9901 | -€19,538 | -€21,912 | -€2,374 | -12.2% |
| Financial income | 75/76B | €6,402 | €3,901 | -€2,501 | -39.1% |
| Recurring financial income | 75 | €6,402 | €3,901 | -€2,501 | -39.1% |
| Financial charges | 65/66B | €45 | €52 | +€7 | +16.1% |
| Recurring financial charges | 65 | €45 | €52 | +€7 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,181 | -€18,063 | -€4,882 | -37.0% |
| Profit (loss) for the period | 9904 | -€13,181 | -€18,063 | -€4,882 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,181 | -€18,063 | -€4,882 | -37.0% |
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.