LINOPAN INDUSTRIES: what changed
What changed
LINOPAN INDUSTRIES
NACE 16.210, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
filed annual accounts (NBB)
Net result for the year
€82,902
2024 · €25,305+€57,597
Equity
€946,459
2024 · €863,557+€82,902
Cash
€45,861
2024 · €29,092+€16,769
Balance sheet total
€2.0m
2024 · €869,495+€1.2m
Largest movements
Assets
- Financial fixed assets +€1.6m
up €1.6m (+526%), from €312,983 to €2.0m
- Receivables after one year -€290,000
down €290,000 (-100%), from €290,000 to €0
- Current investments -€230,000
down €230,000 (-100%), from €230,000 to €0
Equity and liabilities
- Debts after one year +€907,728
new in 2025: €907,728
- Current portion of long-term debt +€149,307
new in 2025: €149,307
- Reserves +€82,902
up €82,902 (+27.6%), from €300,857 to €383,759
of which Distributable reserves: +€78,365
- Tax, wage and social debts +€20,514
up €20,514 (+2,097%), from €978 to €21,493
Income statement
- Gross operating margin +€103,109
up €103,109 (+458%), from €22,532 to €125,642
- Financial charges +€22,930
up €22,930 (+3,207%), from €715 to €23,645
- Taxes +€16,952
up €16,952 (+709%), from €2,392 to €19,344
- Financial income -€5,481
down €5,481 (-79.7%), from €6,878 to €1,398
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€25,305
Gross operating margin
+€103,109
Depreciation
-€147
Other operating charges
-€2
Financial income
-€5,481
Financial charges
-€22,930
Taxes
-€16,952
Result 2025
€82,902
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€374,558
Investment
-€1.4m
Financing
+€1.1m
Cash 2024
€29,092
From operations (derived)
+€374,558
Net result for the year
+€82,902
Depreciation
+€1,020
Receivables after one year
+€290,000
Receivables within one year
-€14,963
Smaller working-capital items
-€4,915
Tax, wage and social debts
+€20,514
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.6m
Current investments
+€230,000
Financing
+€1.1m
Debts after one year
+€907,728
Current portion of long-term debt
+€149,307
Cash 2025
€45,861
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €869,495 | €2,025,970 | +€1.2m | +133% |
| Fixed assets | 21/28 | €317,366 | €1,961,172 | +€1.6m | +518% |
| Tangible fixed assets | 22/27 | €4,383 | €3,364 | -€1,020 | -23.3% |
| Furniture and vehicles | 24 | €4,383 | €3,364 | -€1,020 | -23.3% |
| Financial fixed assets | 28 | €312,983 | €1,957,808 | +€1.6m | +526% |
| Current assets | 29/58 | €552,129 | €64,798 | -€487,330 | -88.3% |
| Amounts receivable after more than one year | 29 | €290,000 | €0 | -€290,000 | -100% |
| Other amounts receivable | 291 | €290,000 | €0 | -€290,000 | -100% |
| Amounts receivable within one year | 40/41 | €2,327 | €17,290 | +€14,963 | +643% |
| Trade receivables | 40 | €1,320 | €17,290 | +€15,970 | +1,210% |
| Other amounts receivable | 41 | €1,007 | €0 | -€1,007 | -100% |
| Current investments | 50/53 | €230,000 | €0 | -€230,000 | -100% |
| Cash at bank and in hand | 54/58 | €29,092 | €45,861 | +€16,769 | +57.6% |
| Deferred charges and accrued income | 490/1 | €709 | €1,647 | +€938 | +132% |
| Total equity and liabilities | 10/49 | €869,495 | €2,025,970 | +€1.2m | +133% |
| Equity | 10/15 | €863,557 | €946,459 | +€82,902 | +9.6% |
| Contributions | 10/11 | €562,700 | €562,700 | = | 0.0% |
| Capital | 10 | €562,700 | €562,700 | = | 0.0% |
| Issued capital | 100 | €562,700 | €562,700 | = | 0.0% |
| Reserves | 13 | €300,857 | €383,759 | +€82,902 | +27.6% |
| Non-distributable reserves | 130/1 | €16,678 | €21,215 | +€4,537 | +27.2% |
| Legal reserve | 130 | €16,678 | €21,215 | +€4,537 | +27.2% |
| Tax-exempt reserves | 132 | €28,756 | €28,756 | = | 0.0% |
| Distributable reserves | 133 | €255,424 | €333,788 | +€78,365 | +30.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €5,938 | €1,079,511 | +€1.1m | +18,079% |
| Amounts payable after more than one year | 17 | - | €907,728 | +€907,728 | |
| Financial debts | 170/4 | - | €907,728 | +€907,728 | |
| Amounts payable within one year | 42/48 | €5,938 | €171,783 | +€165,845 | +2,793% |
| Current portion of amounts payable after more than one year | 42 | - | €149,307 | +€149,307 | |
| Trade debts | 44 | €4,960 | €983 | -€3,977 | -80.2% |
| Suppliers | 440/4 | €4,960 | €983 | -€3,977 | -80.2% |
| Taxes, remuneration and social security | 45 | €978 | €21,493 | +€20,514 | +2,097% |
| Taxes | 450/3 | €978 | €21,493 | +€20,514 | +2,097% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €873 | €1,020 | +€147 | +16.8% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €22,532 | €125,642 | +€103,109 | +458% |
| Operating profit (loss) | 9901 | €21,534 | €124,494 | +€102,960 | +478% |
| Financial income | 75/76B | €6,878 | €1,398 | -€5,481 | -79.7% |
| Recurring financial income | 75 | €6,878 | €1,398 | -€5,481 | -79.7% |
| Financial charges | 65/66B | €715 | €23,645 | +€22,930 | +3,207% |
| Recurring financial charges | 65 | €715 | €23,645 | +€22,930 | +3,207% |
| Profit (loss) for the period before taxes | 9903 | €27,697 | €102,246 | +€74,549 | +269% |
| Income taxes | 67/77 | €2,392 | €19,344 | +€16,952 | +709% |
| Profit (loss) for the period | 9904 | €25,305 | €82,902 | +€57,597 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €25,305 | €82,902 | +€57,597 | +228% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.