LINO PROJECT: 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.
LINO PROJECT
Largest movements
- Receivables after one year -€213,000
down €213,000 (-24.7%), from €863,000 to €650,000
- Receivables within one year +€84,547
up €84,547 (+427.7%), from €19,768 to €104,315
of which Other amounts receivable: +€83,577
- Tangible fixed assets -€27,565
down €27,565 (-2.1%), from €1.3m to €1.3m
of which Land and buildings: -€19,277
- Reserves -€226,310
down €226,310 (-99.2%), from €228,170 to €1,860
- Profit (loss) carried forward +€143,729
up €143,729 (+19.3%), from €745,854 to €889,583
- Debts after one year -€126,615
down €126,615 (-13.9%), from €907,814 to €781,199
- Other debts +€40,816
up €40,816 (+25.7%), from €159,110 to €199,927
- Other operating charges -€179,495
down €179,495 (-99.0%), from €181,347 to €1,851
- Gross operating margin -€112,224
down €112,224 (-34.2%), from €328,231 to €216,008
- Taxes +€26,889
up €26,889 (+118.8%), from €22,636 to €49,525
- Financial charges -€25,474
down €25,474 (-42.3%), from €60,224 to €34,749
- Financial income +€4,099
up €4,099 (+9.2%), from €44,372 to €48,471
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 | €2,214,511 | €2,058,028 | -€156,483 | -7.1% |
| Fixed assets | 21/28 | €1,321,099 | €1,293,534 | -€27,565 | -2.1% |
| Tangible fixed assets | 22/27 | €1,321,099 | €1,293,534 | -€27,565 | -2.1% |
| Land and buildings | 22 | €1,303,653 | €1,284,377 | -€19,277 | -1.5% |
| Plant, machinery and equipment | 23 | €3,270 | €1,869 | -€1,401 | -42.8% |
| Furniture and vehicles | 24 | €14,176 | €7,288 | -€6,888 | -48.6% |
| Current assets | 29/58 | €893,412 | €764,494 | -€128,918 | -14.4% |
| Amounts receivable after more than one year | 29 | €863,000 | €650,000 | -€213,000 | -24.7% |
| Other amounts receivable | 291 | €863,000 | €650,000 | -€213,000 | -24.7% |
| Amounts receivable within one year | 40/41 | €19,768 | €104,315 | +€84,547 | +427.7% |
| Trade receivables | 40 | €1,628 | €2,598 | +€970 | +59.6% |
| Other amounts receivable | 41 | €18,140 | €101,717 | +€83,577 | +460.7% |
| Cash at bank and in hand | 54/58 | €510 | €160 | -€350 | -68.6% |
| Deferred charges and accrued income | 490/1 | €10,134 | €10,019 | -€115 | -1.1% |
| Total equity and liabilities | 10/49 | €2,214,511 | €2,058,028 | -€156,483 | -7.1% |
| Equity | 10/15 | €994,484 | €910,043 | -€84,441 | -8.5% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €228,170 | €1,860 | -€226,310 | -99.2% |
| Distributable reserves | 133 | €228,170 | €1,860 | -€226,310 | -99.2% |
| Profit (loss) carried forward | 14 | €745,854 | €889,583 | +€143,729 | +19.3% |
| Amounts payable | 17/49 | €1,220,027 | €1,147,985 | -€72,041 | -5.9% |
| Amounts payable after more than one year | 17 | €907,814 | €781,199 | -€126,615 | -13.9% |
| Financial debts | 170/4 | €907,814 | €781,199 | -€126,615 | -13.9% |
| Amounts payable within one year | 42/48 | €312,213 | €366,786 | +€54,573 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €126,631 | €126,615 | -€16 | 0.0% |
| Financial debts | 43 | - | €13,456 | +€13,456 | |
| Credit institutions | 430/8 | - | €13,456 | +€13,456 | |
| Trade debts | 44 | €17,302 | €9,148 | -€8,154 | -47.1% |
| Suppliers | 440/4 | €17,302 | €9,148 | -€8,154 | -47.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €9,170 | €17,641 | +€8,471 | +92.4% |
| Taxes | 450/3 | €4,111 | €14,641 | +€10,530 | +256.1% |
| Remuneration and social security | 454/9 | €5,059 | €3,000 | -€2,059 | -40.7% |
| Other amounts payable | 47/48 | €159,110 | €199,927 | +€40,816 | +25.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,412 | €34,624 | +€212 | +0.6% |
| Other operating charges | 640/8 | €181,347 | €1,851 | -€179,495 | -99.0% |
| Gross operating margin | 9900 | €328,231 | €216,008 | -€112,224 | -34.2% |
| Operating profit (loss) | 9901 | €112,472 | €179,532 | +€67,060 | +59.6% |
| Financial income | 75/76B | €44,372 | €48,471 | +€4,099 | +9.2% |
| Recurring financial income | 75 | €44,372 | €48,471 | +€4,099 | +9.2% |
| Financial charges | 65/66B | €60,224 | €34,749 | -€25,474 | -42.3% |
| Recurring financial charges | 65 | €60,224 | €34,749 | -€25,474 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €96,621 | €193,254 | +€96,633 | +100.0% |
| Income taxes | 67/77 | €22,636 | €49,525 | +€26,889 | +118.8% |
| Profit (loss) for the period | 9904 | €73,985 | €143,729 | +€69,744 | +94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,985 | €143,729 | +€69,744 | +94.3% |
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.