Linovi: 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.
Linovi
Largest movements
- Current investments -€499,643
down €499,643 (-99.9%), from €500,000 to €357
- Cash -€61,044
down €61,044 (-89.8%), from €67,986 to €6,942
mainly Contributions, distributions and other (-€600,000) and Current portion of long-term debt (-€8,289)
- Tangible fixed assets -€21,448
down €21,448 (-49.2%), from €43,605 to €22,157
- Receivables within one year +€7,232
up €7,232 (+24.0%), from €30,138 to €37,370
of which Other amounts receivable: +€12,000
- Reserves -€601,860
no longer reported in 2025 (was €601,860)
of which Distributable reserves: -€600,000
- Other debts +€25,437
up €25,437 (+2249.1%), from €1,131 to €26,568
- Current portion of long-term debt -€8,289
no longer reported in 2025 (was €8,289)
- Gross operating margin +€19,511
up €19,511, from -€1,925 to €17,586
- Financial income -€12,676
down €12,676 (-73.0%), from €17,363 to €4,687
- Depreciation -€8,106
down €8,106 (-38.3%), from €21,138 to €13,032
- Taxes +€2,388
up €2,388, from €0 to €2,388
- Other operating charges -€215
down €215 (-28.3%), from €759 to €544
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 | €641,729 | €67,076 | -€574,653 | -89.5% |
| Fixed assets | 21/28 | €43,605 | €22,157 | -€21,448 | -49.2% |
| Tangible fixed assets | 22/27 | €43,605 | €22,157 | -€21,448 | -49.2% |
| Furniture and vehicles | 24 | €43,605 | €22,157 | -€21,448 | -49.2% |
| Current assets | 29/58 | €598,124 | €44,919 | -€553,205 | -92.5% |
| Amounts receivable within one year | 40/41 | €30,138 | €37,370 | +€7,232 | +24.0% |
| Trade receivables | 40 | €9,929 | €5,161 | -€4,768 | -48.0% |
| Other amounts receivable | 41 | €20,209 | €32,209 | +€12,000 | +59.4% |
| Current investments | 50/53 | €500,000 | €357 | -€499,643 | -99.9% |
| Cash at bank and in hand | 54/58 | €67,986 | €6,942 | -€61,044 | -89.8% |
| Deferred charges and accrued income | 490/1 | - | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €641,729 | €67,076 | -€574,653 | -89.5% |
| Equity | 10/15 | €632,194 | €37,911 | -€594,283 | -94.0% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €601,860 | - | -€601,860 | |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €600,000 | - | -€600,000 | |
| Profit (loss) carried forward | 14 | €11,734 | €17,451 | +€5,717 | +48.7% |
| Amounts payable | 17/49 | €9,535 | €29,165 | +€19,630 | +205.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,535 | €29,165 | +€19,630 | +205.9% |
| Current portion of amounts payable after more than one year | 42 | €8,289 | - | -€8,289 | |
| Trade debts | 44 | €115 | €448 | +€333 | +289.6% |
| Suppliers | 440/4 | €115 | €448 | +€333 | +289.6% |
| Taxes, remuneration and social security | 45 | €0 | €2,149 | +€2,149 | |
| Taxes | 450/3 | €0 | €2,149 | +€2,149 | |
| Other amounts payable | 47/48 | €1,131 | €26,568 | +€25,437 | +2249.1% |
| Remuneration, social security and pensions | 62 | €10 | - | -€10 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,138 | €13,032 | -€8,106 | -38.3% |
| Other operating charges | 640/8 | €759 | €544 | -€215 | -28.3% |
| Gross operating margin | 9900 | -€1,925 | €17,586 | +€19,511 | |
| Operating profit (loss) | 9901 | -€23,832 | €4,010 | +€27,842 | |
| Financial income | 75/76B | €17,363 | €4,687 | -€12,676 | -73.0% |
| Recurring financial income | 75 | €17,363 | €4,687 | -€12,676 | -73.0% |
| Financial charges | 65/66B | €752 | €592 | -€160 | -21.3% |
| Recurring financial charges | 65 | €752 | €592 | -€160 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,221 | €8,105 | +€15,326 | |
| Income taxes | 67/77 | €0 | €2,388 | +€2,388 | |
| Profit (loss) for the period | 9904 | -€7,221 | €5,717 | +€12,938 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,221 | €5,717 | +€12,938 |
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 7 October 2026 via checked.be.