PH DE LINDE: 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.
PH DE LINDE
Largest movements
- Tangible fixed assets +€59,951
up €59,951 (+30.0%), from €199,926 to €259,877
of which Land and buildings: +€61,371
- Cash +€59,450
up €59,450 (+233%), from €25,489 to €84,940
mainly Debts after one year (+€159,289) and Depreciation (+€31,060)
- Intangible fixed assets -€15,000
down €15,000 (-11.1%), from €135,000 to €120,000
- Stocks and contracts -€9,274
down €9,274 (-12.5%), from €74,270 to €64,995
- Receivables within one year +€7,371
up €7,371 (+9.0%), from €81,710 to €89,081
of which Trade receivables: +€23,028
- Debts after one year +€159,289
new in 2025: €159,289
- Other debts -€55,661
down €55,661 (-30.1%), from €184,949 to €129,288
- Profit (loss) carried forward +€13,963
up €13,963 (+96.9%), from -€14,410 to -€447
- Trade debts -€9,845
down €9,845 (-3.1%), from €316,516 to €306,671
- Staff costs -€21,909
down €21,909 (-16.6%), from €131,989 to €110,080
- Gross operating margin +€13,289
up €13,289 (+8.9%), from €149,720 to €163,009
- Depreciation +€7,855
up €7,855 (+33.9%), from €23,204 to €31,060
- Financial charges -€2,624
down €2,624 (-50.3%), from €5,216 to €2,592
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 | €517,239 | €619,651 | +€102,412 | +19.8% |
| Fixed assets | 21/28 | €334,926 | €380,635 | +€45,709 | +13.6% |
| Intangible fixed assets | 21 | €135,000 | €120,000 | -€15,000 | -11.1% |
| Tangible fixed assets | 22/27 | €199,926 | €259,877 | +€59,951 | +30.0% |
| Land and buildings | 22 | €196,723 | €258,094 | +€61,371 | +31.2% |
| Furniture and vehicles | 24 | €3,203 | €1,783 | -€1,421 | -44.4% |
| Financial fixed assets | 28 | - | €758 | +€758 | |
| Current assets | 29/58 | €182,313 | €239,016 | +€56,704 | +31.1% |
| Stocks and contracts in progress | 3 | €74,270 | €64,995 | -€9,274 | -12.5% |
| Stocks | 30/36 | €74,270 | €64,995 | -€9,274 | -12.5% |
| Amounts receivable within one year | 40/41 | €81,710 | €89,081 | +€7,371 | +9.0% |
| Trade receivables | 40 | €65,839 | €88,867 | +€23,028 | +35.0% |
| Other amounts receivable | 41 | €15,872 | €214 | -€15,657 | -98.6% |
| Cash at bank and in hand | 54/58 | €25,489 | €84,940 | +€59,450 | +233% |
| Deferred charges and accrued income | 490/1 | €843 | - | -€843 | |
| Total equity and liabilities | 10/49 | €517,239 | €619,651 | +€102,412 | +19.8% |
| Equity | 10/15 | -€4,410 | €9,553 | +€13,963 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,410 | -€447 | +€13,963 | +96.9% |
| Amounts payable | 17/49 | €521,649 | €610,098 | +€88,450 | +17.0% |
| Amounts payable after more than one year | 17 | - | €159,289 | +€159,289 | |
| Financial debts | 170/4 | - | €159,289 | +€159,289 | |
| Amounts payable within one year | 42/48 | €521,649 | €450,809 | -€70,839 | -13.6% |
| Trade debts | 44 | €316,516 | €306,671 | -€9,845 | -3.1% |
| Suppliers | 440/4 | €316,516 | €306,671 | -€9,845 | -3.1% |
| Taxes, remuneration and social security | 45 | €20,183 | €14,850 | -€5,333 | -26.4% |
| Taxes | 450/3 | €10,153 | €6,588 | -€3,565 | -35.1% |
| Remuneration and social security | 454/9 | €10,030 | €8,263 | -€1,768 | -17.6% |
| Other amounts payable | 47/48 | €184,949 | €129,288 | -€55,661 | -30.1% |
| Remuneration, social security and pensions | 62 | €131,989 | €110,080 | -€21,909 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,204 | €31,060 | +€7,855 | +33.9% |
| Other operating charges | 640/8 | €5,566 | €4,477 | -€1,089 | -19.6% |
| Non-recurring operating charges | 66A | - | €861 | +€861 | |
| Gross operating margin | 9900 | €149,720 | €163,009 | +€13,289 | +8.9% |
| Operating profit (loss) | 9901 | -€11,039 | €16,532 | +€27,571 | |
| Financial income | 75/76B | €64 | €23 | -€41 | -64.2% |
| Recurring financial income | 75 | €64 | €23 | -€41 | -64.2% |
| Financial charges | 65/66B | €5,216 | €2,592 | -€2,624 | -50.3% |
| Recurring financial charges | 65 | €5,216 | €2,592 | -€2,624 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,190 | €13,963 | +€30,153 | |
| Profit (loss) for the period | 9904 | -€16,190 | €13,963 | +€30,153 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,190 | €13,963 | +€30,153 |
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 29 October 2026 via checked.be.