LLink: 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.
LLink
Largest movements
- Tangible fixed assets -€58,945
down €58,945 (-13.3%), from €443,972 to €385,028
of which Land and buildings: -€51,261
- Receivables within one year -€18,650
down €18,650 (-11.0%), from €169,190 to €150,541
of which Trade receivables: -€19,647
- Cash +€15,293
up €15,293, from €0 to €15,293
mainly Debts after one year (+€91,947) and Other debts (+€50,961)
- Deferred charges and accrued income -€13,972
down €13,972 (-76.2%), from €18,335 to €4,364
- Reserves -€139,000
down €139,000 (-51.1%), from €272,133 to €133,133
- Debts after one year +€91,947
up €91,947 (+35.3%), from €260,220 to €352,167
of which Other amounts payable: +€127,102
- Profit (loss) carried forward -€64,200
down €64,200 (-1254.9%), from -€5,116 to -€69,315
- Other debts +€50,961
up €50,961 (+57.9%), from €88,039 to €139,000
- Trade debts -€8,073
down €8,073 (-64.4%), from €12,539 to €4,466
- Gross operating margin -€45,483
down €45,483, from €43,605 to -€1,878
- Taxes +€9,837
up €9,837 (+268.8%), from €3,660 to €13,497
- Depreciation -€3,166
down €3,166 (-10.5%), from €30,040 to €26,874
- Financial charges +€3,029
up €3,029 (+19.7%), from €15,342 to €18,370
- Other operating charges +€1,958
up €1,958 (+36.1%), from €5,426 to €7,384
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 | €694,463 | €617,690 | -€76,773 | -11.1% |
| Fixed assets | 21/28 | €506,937 | €447,493 | -€59,445 | -11.7% |
| Tangible fixed assets | 22/27 | €443,972 | €385,028 | -€58,945 | -13.3% |
| Land and buildings | 22 | €436,289 | €385,028 | -€51,261 | -11.7% |
| Furniture and vehicles | 24 | €7,684 | €0 | -€7,684 | -100.0% |
| Financial fixed assets | 28 | €62,965 | €62,465 | -€500 | -0.8% |
| Current assets | 29/58 | €187,526 | €170,197 | -€17,329 | -9.2% |
| Amounts receivable within one year | 40/41 | €169,190 | €150,541 | -€18,650 | -11.0% |
| Trade receivables | 40 | €21,088 | €1,440 | -€19,647 | -93.2% |
| Other amounts receivable | 41 | €148,103 | €149,100 | +€998 | +0.7% |
| Cash at bank and in hand | 54/58 | €0 | €15,293 | +€15,293 | |
| Deferred charges and accrued income | 490/1 | €18,335 | €4,364 | -€13,972 | -76.2% |
| Total equity and liabilities | 10/49 | €694,463 | €617,690 | -€76,773 | -11.1% |
| Equity | 10/15 | €285,617 | €82,418 | -€203,200 | -71.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €272,133 | €133,133 | -€139,000 | -51.1% |
| Distributable reserves | 133 | €272,133 | €133,133 | -€139,000 | -51.1% |
| Profit (loss) carried forward | 14 | -€5,116 | -€69,315 | -€64,200 | -1254.9% |
| Amounts payable | 17/49 | €408,846 | €535,272 | +€126,426 | +30.9% |
| Amounts payable after more than one year | 17 | €260,220 | €352,167 | +€91,947 | +35.3% |
| Financial debts | 170/4 | €260,220 | €225,065 | -€35,155 | -13.5% |
| Other amounts payable | 178/9 | - | €127,102 | +€127,102 | |
| Amounts payable within one year | 42/48 | €145,247 | €183,105 | +€37,858 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €34,017 | €35,155 | +€1,138 | +3.3% |
| Trade debts | 44 | €12,539 | €4,466 | -€8,073 | -64.4% |
| Suppliers | 440/4 | €12,539 | €4,466 | -€8,073 | -64.4% |
| Advances received on contracts in progress | 46 | €3,000 | €0 | -€3,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,652 | €4,484 | -€3,169 | -41.4% |
| Taxes | 450/3 | €7,652 | €4,484 | -€3,169 | -41.4% |
| Other amounts payable | 47/48 | €88,039 | €139,000 | +€50,961 | +57.9% |
| Accrued charges and deferred income | 492/3 | €3,379 | €0 | -€3,379 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,040 | €26,874 | -€3,166 | -10.5% |
| Other operating charges | 640/8 | €5,426 | €7,384 | +€1,958 | +36.1% |
| Gross operating margin | 9900 | €43,605 | -€1,878 | -€45,483 | |
| Operating profit (loss) | 9901 | €8,139 | -€36,136 | -€44,276 | |
| Financial income | 75/76B | €3,887 | €3,804 | -€82 | -2.1% |
| Recurring financial income | 75 | €3,887 | €3,804 | -€82 | -2.1% |
| Financial charges | 65/66B | €15,342 | €18,370 | +€3,029 | +19.7% |
| Recurring financial charges | 65 | €15,342 | €18,370 | +€3,029 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,316 | -€50,702 | -€47,387 | -1429.2% |
| Income taxes | 67/77 | €3,660 | €13,497 | +€9,837 | +268.8% |
| Profit (loss) for the period | 9904 | -€6,976 | -€64,200 | -€57,224 | -820.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,976 | -€64,200 | -€57,224 | -820.3% |
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 5 October 2026 via checked.be.