Linvest: 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.
Linvest
Largest movements
- Tangible fixed assets -€38,789
down €38,789 (-4.4%), from €880,553 to €841,764
of which Land and buildings: -€27,627
- Cash +€32,094
up €32,094 (+1,997%), from €1,607 to €33,701
mainly Other debts (+€343,400) and Net result for the year (+€58,967)
- Deferred charges and accrued income -€9,961
down €9,961 (-87.0%), from €11,452 to €1,491
- Other debts +€343,400
up €343,400 (+77,756%), from €442 to €343,841
- Contributions -€300,000
down €300,000 (-50.0%), from €600,000 to €300,000
- Debts after one year -€100,000
down €100,000 (-33.3%), from €300,000 to €200,000
- Profit (loss) carried forward +€21,980
up €21,980, from -€21,980 to €0
- Reserves +€20,711
new in 2025: €20,711
- Other operating charges -€53,667
down €53,667 (-95.4%), from €56,277 to €2,609
- Gross operating margin +€24,296
up €24,296 (+28.5%), from €85,314 to €109,610
- Financial charges -€3,547
down €3,547 (-30.5%), from €11,624 to €8,077
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.
Derived cash bridge
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 | €904,542 | €889,056 | -€15,487 | -1.7% |
| Fixed assets | 21/28 | €880,593 | €841,764 | -€38,829 | -4.4% |
| Tangible fixed assets | 22/27 | €880,553 | €841,764 | -€38,789 | -4.4% |
| Land and buildings | 22 | €833,150 | €805,524 | -€27,627 | -3.3% |
| Plant, machinery and equipment | 23 | €5,693 | €4,297 | -€1,396 | -24.5% |
| Furniture and vehicles | 24 | €41,710 | €31,943 | -€9,767 | -23.4% |
| Financial fixed assets | 28 | €40 | €0 | -€40 | -100% |
| Current assets | 29/58 | €23,949 | €47,292 | +€23,343 | +97.5% |
| Amounts receivable within one year | 40/41 | €10,890 | €12,100 | +€1,210 | +11.1% |
| Trade receivables | 40 | €10,890 | €12,100 | +€1,210 | +11.1% |
| Cash at bank and in hand | 54/58 | €1,607 | €33,701 | +€32,094 | +1,997% |
| Deferred charges and accrued income | 490/1 | €11,452 | €1,491 | -€9,961 | -87.0% |
| Total equity and liabilities | 10/49 | €904,542 | €889,056 | -€15,487 | -1.7% |
| Equity | 10/15 | €578,020 | €320,711 | -€257,308 | -44.5% |
| Contributions | 10/11 | €600,000 | €300,000 | -€300,000 | -50.0% |
| Reserves | 13 | - | €20,711 | +€20,711 | |
| Distributable reserves | 133 | - | €20,711 | +€20,711 | |
| Profit (loss) carried forward | 14 | -€21,980 | €0 | +€21,980 | |
| Amounts payable | 17/49 | €326,523 | €568,344 | +€241,822 | +74.1% |
| Amounts payable after more than one year | 17 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Financial debts | 170/4 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Amounts payable within one year | 42/48 | €16,408 | €354,791 | +€338,383 | +2,062% |
| Trade debts | 44 | €440 | €2,669 | +€2,230 | +507% |
| Suppliers | 440/4 | €440 | €2,669 | +€2,230 | +507% |
| Taxes, remuneration and social security | 45 | €15,527 | €8,281 | -€7,246 | -46.7% |
| Taxes | 450/3 | €14,027 | €8,281 | -€5,746 | -41.0% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Other amounts payable | 47/48 | €442 | €343,841 | +€343,400 | +77,756% |
| Accrued charges and deferred income | 492/3 | €10,115 | €13,553 | +€3,439 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,660 | €38,789 | -€871 | -2.2% |
| Other operating charges | 640/8 | €56,277 | €2,609 | -€53,667 | -95.4% |
| Gross operating margin | 9900 | €85,314 | €109,610 | +€24,296 | +28.5% |
| Operating profit (loss) | 9901 | -€10,623 | €68,211 | +€78,834 | |
| Financial income | 75/76B | €386 | €14 | -€372 | -96.3% |
| Recurring financial income | 75 | €386 | €14 | -€372 | -96.3% |
| Financial charges | 65/66B | €11,624 | €8,077 | -€3,547 | -30.5% |
| Recurring financial charges | 65 | €11,624 | €8,077 | -€3,547 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,860 | €60,148 | +€82,009 | |
| Income taxes | 67/77 | €120 | €1,181 | +€1,061 | +885% |
| Profit (loss) for the period | 9904 | -€21,980 | €58,967 | +€80,948 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,980 | €58,967 | +€80,948 |
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 22 October 2026 via checked.be.