LINKO-SYSTEMS: what changed
Two financial 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.
LINKO-SYSTEMS
Largest movements
- Receivables within one year +€53,714
up €53,714 (+492.3%), from €10,911 to €64,625
of which Trade receivables: +€53,388
- Cash -€53,641
down €53,641 (-27.8%), from €192,674 to €139,033
mainly Trade debts (-€89,180) and Receivables within one year (-€53,714)
- Deferred charges and accrued income -€30,088
down €30,088 (-94.0%), from €32,014 to €1,926
- Tangible fixed assets -€23,525
down €23,525 (-54.1%), from €43,516 to €19,992
of which Furniture and vehicles: -€22,359
- Financial fixed assets -€12,654
down €12,654 (-27.5%), from €46,066 to €33,412
- Trade debts -€89,180
down €89,180 (-59.1%), from €150,887 to €61,707
- Reserves +€42,549
up €42,549 (+42.7%), from €99,697 to €142,246
- Other debts -€23,498
down €23,498 (-100.0%), from €23,498 to €0
- Tax, wage and social debts +€15,728
up €15,728 (+144.9%), from €10,851 to €26,578
of which Taxes: +€17,508
- Current portion of long-term debt -€11,522
down €11,522 (-53.9%), from €21,373 to €9,851
- Gross operating margin +€105,866
up €105,866 (+81.7%), from €129,635 to €235,500
- Taxes +€26,723
up €26,723 (+5632.8%), from €474 to €27,198
- Financial charges +€17,068
up €17,068 (+577.7%), from €2,955 to €20,022
- Staff costs +€4,886
up €4,886 (+4.6%), from €106,987 to €111,874
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 | €338,766 | €268,967 | -€69,799 | -20.6% |
| Fixed assets | 21/28 | €93,492 | €55,245 | -€38,247 | -40.9% |
| Intangible fixed assets | 21 | €3,910 | €1,841 | -€2,069 | -52.9% |
| Tangible fixed assets | 22/27 | €43,516 | €19,992 | -€23,525 | -54.1% |
| Plant, machinery and equipment | 23 | €5,049 | €3,883 | -€1,166 | -23.1% |
| Furniture and vehicles | 24 | €38,467 | €16,109 | -€22,359 | -58.1% |
| Financial fixed assets | 28 | €46,066 | €33,412 | -€12,654 | -27.5% |
| Current assets | 29/58 | €245,274 | €213,723 | -€31,552 | -12.9% |
| Stocks and contracts in progress | 3 | €9,675 | €8,139 | -€1,536 | -15.9% |
| Stocks | 30/36 | €9,675 | €8,139 | -€1,536 | -15.9% |
| Amounts receivable within one year | 40/41 | €10,911 | €64,625 | +€53,714 | +492.3% |
| Trade receivables | 40 | €2,689 | €56,077 | +€53,388 | +1985.5% |
| Other amounts receivable | 41 | €8,222 | €8,548 | +€326 | +4.0% |
| Cash at bank and in hand | 54/58 | €192,674 | €139,033 | -€53,641 | -27.8% |
| Deferred charges and accrued income | 490/1 | €32,014 | €1,926 | -€30,088 | -94.0% |
| Total equity and liabilities | 10/49 | €338,766 | €268,967 | -€69,799 | -20.6% |
| Equity | 10/15 | €116,362 | €164,846 | +€48,484 | +41.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,697 | €142,246 | +€42,549 | +42.7% |
| Distributable reserves | 133 | €99,697 | €142,246 | +€42,549 | +42.7% |
| Profit (loss) carried forward | 14 | -€7,935 | €0 | +€7,935 | |
| Investment grants | 15 | €6,000 | €4,000 | -€2,000 | -33.3% |
| Amounts payable | 17/49 | €222,404 | €104,121 | -€118,283 | -53.2% |
| Amounts payable after more than one year | 17 | €15,695 | €5,844 | -€9,851 | -62.8% |
| Financial debts | 170/4 | €15,695 | €5,844 | -€9,851 | -62.8% |
| Amounts payable within one year | 42/48 | €206,709 | €98,277 | -€108,432 | -52.5% |
| Current portion of amounts payable after more than one year | 42 | €21,373 | €9,851 | -€11,522 | -53.9% |
| Trade debts | 44 | €150,887 | €61,707 | -€89,180 | -59.1% |
| Suppliers | 440/4 | €150,887 | €61,707 | -€89,180 | -59.1% |
| Advances received on contracts in progress | 46 | €100 | €140 | +€40 | +40.0% |
| Taxes, remuneration and social security | 45 | €10,851 | €26,578 | +€15,728 | +144.9% |
| Taxes | 450/3 | €0 | €17,508 | +€17,508 | |
| Remuneration and social security | 454/9 | €10,851 | €9,070 | -€1,781 | -16.4% |
| Other amounts payable | 47/48 | €23,498 | €0 | -€23,498 | -100.0% |
| Non-recurring operating income | 76A | €0 | €894 | +€894 | |
| Remuneration, social security and pensions | 62 | €106,987 | €111,874 | +€4,886 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,848 | €25,593 | -€255 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€1,234 | -€1,234 | |
| Other operating charges | 640/8 | €1,330 | €1,615 | +€285 | +21.4% |
| Gross operating margin | 9900 | €129,635 | €235,500 | +€105,866 | +81.7% |
| Operating profit (loss) | 9901 | -€4,531 | €97,652 | +€102,183 | |
| Financial income | 75/76B | €25 | €52 | +€27 | +108.0% |
| Recurring financial income | 75 | €25 | €52 | +€27 | +108.0% |
| Financial charges | 65/66B | €2,955 | €20,022 | +€17,068 | +577.7% |
| Recurring financial charges | 65 | €2,955 | €20,022 | +€17,068 | +577.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,461 | €77,682 | +€85,142 | |
| Income taxes | 67/77 | €474 | €27,198 | +€26,723 | +5632.8% |
| Profit (loss) for the period | 9904 | -€7,935 | €50,484 | +€58,419 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,935 | €50,484 | +€58,419 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.