LINK42: 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.
LINK42
Largest movements
- Tangible fixed assets -€28,283
down €28,283 (-3.2%), from €878,312 to €850,029
of which Land and buildings: -€29,611
- Cash +€28,035
up €28,035 (+29.1%), from €96,258 to €124,293
mainly Net result for the year (+€59,256) and Depreciation (+€33,994)
- Reserves +€59,256
up €59,256 (+8.5%), from €700,728 to €759,984
of which Distributable reserves: +€61,156
- Debts after one year -€31,068
down €31,068 (-26.7%), from €116,506 to €85,438
- Other debts -€20,819
down €20,819 (-18.2%), from €114,623 to €93,804
- Tax, wage and social debts -€15,086
down €15,086 (-61.5%), from €24,545 to €9,459
- Gross operating margin +€23,098
up €23,098 (+21.8%), from €105,811 to €128,909
- Taxes +€4,929
up €4,929 (+26.0%), from €18,956 to €23,885
- Depreciation +€1,789
up €1,789 (+5.6%), from €32,205 to €33,994
- Financial charges -€1,381
down €1,381 (-12.2%), from €11,367 to €9,986
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 | €1,018,389 | €1,021,716 | +€3,327 | +0.3% |
| Fixed assets | 21/28 | €878,312 | €850,029 | -€28,283 | -3.2% |
| Tangible fixed assets | 22/27 | €878,312 | €850,029 | -€28,283 | -3.2% |
| Land and buildings | 22 | €867,708 | €838,096 | -€29,611 | -3.4% |
| Furniture and vehicles | 24 | €8,704 | €10,033 | +€1,329 | +15.3% |
| Other tangible fixed assets | 26 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €140,077 | €171,687 | +€31,610 | +22.6% |
| Amounts receivable within one year | 40/41 | €41,133 | €43,861 | +€2,728 | +6.6% |
| Trade receivables | 40 | €41,133 | €43,856 | +€2,723 | +6.6% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Current investments | 50/53 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €96,258 | €124,293 | +€28,035 | +29.1% |
| Deferred charges and accrued income | 490/1 | €686 | €1,533 | +€847 | +123.5% |
| Total equity and liabilities | 10/49 | €1,018,389 | €1,021,716 | +€3,327 | +0.3% |
| Equity | 10/15 | €719,728 | €778,984 | +€59,256 | +8.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €700,728 | €759,984 | +€59,256 | +8.5% |
| Non-distributable reserves | 130/1 | €1,900 | €0 | -€1,900 | -100.0% |
| Reserves not available under the articles | 1311 | €1,900 | €0 | -€1,900 | -100.0% |
| Distributable reserves | 133 | €698,828 | €759,984 | +€61,156 | +8.8% |
| Amounts payable | 17/49 | €298,661 | €242,732 | -€55,929 | -18.7% |
| Amounts payable after more than one year | 17 | €116,506 | €85,438 | -€31,068 | -26.7% |
| Financial debts | 170/4 | €116,506 | €85,438 | -€31,068 | -26.7% |
| Amounts payable within one year | 42/48 | €174,068 | €142,383 | -€31,685 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €31,068 | €31,068 | = | 0.0% |
| Trade debts | 44 | €3,831 | €8,051 | +€4,220 | +110.2% |
| Suppliers | 440/4 | €3,831 | €8,051 | +€4,220 | +110.2% |
| Taxes, remuneration and social security | 45 | €24,545 | €9,459 | -€15,086 | -61.5% |
| Taxes | 450/3 | €24,545 | €9,459 | -€15,086 | -61.5% |
| Other amounts payable | 47/48 | €114,623 | €93,804 | -€20,819 | -18.2% |
| Accrued charges and deferred income | 492/3 | €8,087 | €14,911 | +€6,825 | +84.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,205 | €33,994 | +€1,789 | +5.6% |
| Other operating charges | 640/8 | €1,028 | €2,220 | +€1,192 | +116.0% |
| Gross operating margin | 9900 | €105,811 | €128,909 | +€23,098 | +21.8% |
| Operating profit (loss) | 9901 | €72,578 | €92,695 | +€20,117 | +27.7% |
| Financial income | 75/76B | €63 | €432 | +€368 | +580.1% |
| Recurring financial income | 75 | €63 | €432 | +€368 | +580.1% |
| Financial charges | 65/66B | €11,367 | €9,986 | -€1,381 | -12.2% |
| Recurring financial charges | 65 | €11,367 | €9,986 | -€1,381 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €61,274 | €83,141 | +€21,866 | +35.7% |
| Income taxes | 67/77 | €18,956 | €23,885 | +€4,929 | +26.0% |
| Profit (loss) for the period | 9904 | €42,319 | €59,256 | +€16,937 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,319 | €59,256 | +€16,937 | +40.0% |
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 5 October 2026 via checked.be.