LnK: 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.
LnK
Largest movements
- Stocks and contracts -€26,768
down €26,768 (-19.6%), from €136,312 to €109,543
- Receivables within one year -€24,619
down €24,619 (-91.7%), from €26,850 to €2,231
of which Trade receivables: -€14,754
- Cash -€15,351
down €15,351 (-32.9%), from €46,636 to €31,286
mainly Advances received (-€102,200) and Investment in fixed assets (net) (-€11,602)
- Intangible fixed assets +€5,606
up €5,606 (+12.6%), from €44,314 to €49,920
- Advances received -€102,200
no longer reported in 2025 (was €102,200)
- Other debts +€30,665
up €30,665 (+19.6%), from €156,233 to €186,898
- Profit (loss) carried forward +€27,657
up €27,657 (+84.3%), from -€32,796 to -€5,139
- Trade debts -€11,561
down €11,561 (-46.2%), from €25,004 to €13,443
- Current portion of long-term debt -€6,227
down €6,227 (-80.7%), from €7,716 to €1,489
- Gross operating margin +€54,138
up €54,138, from -€17,347 to €36,792
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 | €269,319 | €206,090 | -€63,228 | -23.5% |
| Fixed assets | 21/28 | €58,986 | €62,021 | +€3,035 | +5.1% |
| Intangible fixed assets | 21 | €44,314 | €49,920 | +€5,606 | +12.6% |
| Tangible fixed assets | 22/27 | €14,672 | €12,101 | -€2,571 | -17.5% |
| Plant, machinery and equipment | 23 | €484 | €141 | -€343 | -70.8% |
| Furniture and vehicles | 24 | €99 | - | -€99 | |
| Other tangible fixed assets | 26 | €14,089 | €11,960 | -€2,129 | -15.1% |
| Current assets | 29/58 | €210,332 | €144,070 | -€66,263 | -31.5% |
| Stocks and contracts in progress | 3 | €136,312 | €109,543 | -€26,768 | -19.6% |
| Stocks | 30/36 | €136,312 | €109,543 | -€26,768 | -19.6% |
| Amounts receivable within one year | 40/41 | €26,850 | €2,231 | -€24,619 | -91.7% |
| Trade receivables | 40 | €15,775 | €1,021 | -€14,754 | -93.5% |
| Other amounts receivable | 41 | €11,075 | €1,210 | -€9,865 | -89.1% |
| Cash at bank and in hand | 54/58 | €46,636 | €31,286 | -€15,351 | -32.9% |
| Deferred charges and accrued income | 490/1 | €535 | €1,010 | +€475 | +88.8% |
| Total equity and liabilities | 10/49 | €269,319 | €206,090 | -€63,228 | -23.5% |
| Equity | 10/15 | -€23,496 | €4,161 | +€27,657 | |
| Contributions | 10/11 | €7,440 | €7,440 | = | 0.0% |
| Contributions outside capital | 11 | €7,440 | €7,440 | = | 0.0% |
| Other | 1109/19 | €7,440 | €7,440 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,796 | -€5,139 | +€27,657 | +84.3% |
| Amounts payable | 17/49 | €292,815 | €201,930 | -€90,885 | -31.0% |
| Amounts payable after more than one year | 17 | €1,489 | - | -€1,489 | |
| Financial debts | 170/4 | €1,489 | - | -€1,489 | |
| Amounts payable within one year | 42/48 | €291,226 | €201,830 | -€89,397 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €7,716 | €1,489 | -€6,227 | -80.7% |
| Trade debts | 44 | €25,004 | €13,443 | -€11,561 | -46.2% |
| Suppliers | 440/4 | €25,004 | €13,443 | -€11,561 | -46.2% |
| Advances received on contracts in progress | 46 | €102,200 | - | -€102,200 | |
| Taxes, remuneration and social security | 45 | €74 | - | -€74 | |
| Taxes | 450/3 | €74 | - | -€74 | |
| Other amounts payable | 47/48 | €156,233 | €186,898 | +€30,665 | +19.6% |
| Accrued charges and deferred income | 492/3 | €100 | €100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,873 | €8,568 | -€305 | -3.4% |
| Gross operating margin | 9900 | -€17,347 | €36,792 | +€54,138 | |
| Operating profit (loss) | 9901 | -€26,219 | €28,224 | +€54,443 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €784 | €567 | -€217 | -27.7% |
| Recurring financial charges | 65 | €784 | €567 | -€217 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,003 | €27,657 | +€54,660 | |
| Profit (loss) for the period | 9904 | -€27,003 | €27,657 | +€54,660 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,003 | €27,657 | +€54,660 |
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 18 October 2026 via checked.be.