Proxy Linkeroever: 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.
Proxy Linkeroever
Largest movements
- Tangible fixed assets -€589,885
down €589,885 (-46.7%), from €1.3m to €673,931
of which Land and buildings: -€440,314
- Cash +€223,442
up €223,442 (+626.8%), from €35,649 to €259,091
mainly Investment in fixed assets (net) (+€403,696) and Depreciation (+€186,189)
- Receivables within one year -€59,539
down €59,539 (-39.0%), from €152,531 to €92,992
of which Other amounts receivable: -€80,403
- Current investments -€34,700
down €34,700 (-100.0%), from €34,700 to €0
- Debts after one year -€469,411
down €469,411 (-47.5%), from €989,136 to €519,725
of which Financial debts: -€476,211
- Reserves +€69,800
up €69,800 (+21.6%), from €323,169 to €392,969
- Short-term financial debts -€39,292
down €39,292 (-100.0%), from €39,292 to €0
- Current portion of long-term debt -€26,587
down €26,587 (-25.7%), from €103,320 to €76,733
- Gross operating margin +€88,383
up €88,383 (+13.6%), from €652,155 to €740,538
- Staff costs -€54,401
down €54,401 (-11.8%), from €459,506 to €405,105
- Depreciation +€28,585
up €28,585 (+18.1%), from €157,604 to €186,189
- Financial charges +€15,424
up €15,424 (+36.9%), from €41,798 to €57,222
- Taxes +€11,759
up €11,759 (+2579.9%), from €456 to €12,215
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 | €1,814,155 | €1,356,768 | -€457,388 | -25.2% |
| Fixed assets | 21/28 | €1,270,196 | €680,311 | -€589,885 | -46.4% |
| Tangible fixed assets | 22/27 | €1,263,816 | €673,931 | -€589,885 | -46.7% |
| Land and buildings | 22 | €440,314 | €0 | -€440,314 | -100.0% |
| Plant, machinery and equipment | 23 | €507,567 | €405,208 | -€102,359 | -20.2% |
| Furniture and vehicles | 24 | €21,506 | €8,844 | -€12,661 | -58.9% |
| Other tangible fixed assets | 26 | €294,429 | €259,879 | -€34,551 | -11.7% |
| Financial fixed assets | 28 | €6,380 | €6,380 | = | 0.0% |
| Current assets | 29/58 | €543,960 | €676,457 | +€132,497 | +24.4% |
| Amounts receivable after more than one year | 29 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Other amounts receivable | 291 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Stocks and contracts in progress | 3 | €315,156 | €319,049 | +€3,894 | +1.2% |
| Stocks | 30/36 | €315,156 | €319,049 | +€3,894 | +1.2% |
| Amounts receivable within one year | 40/41 | €152,531 | €92,992 | -€59,539 | -39.0% |
| Trade receivables | 40 | €65,795 | €86,658 | +€20,863 | +31.7% |
| Other amounts receivable | 41 | €86,737 | €6,334 | -€80,403 | -92.7% |
| Current investments | 50/53 | €34,700 | €0 | -€34,700 | -100.0% |
| Cash at bank and in hand | 54/58 | €35,649 | €259,091 | +€223,442 | +626.8% |
| Deferred charges and accrued income | 490/1 | €2,923 | €3,325 | +€402 | +13.7% |
| Total equity and liabilities | 10/49 | €1,814,155 | €1,356,768 | -€457,388 | -25.2% |
| Equity | 10/15 | €373,169 | €442,969 | +€69,800 | +18.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €323,169 | €392,969 | +€69,800 | +21.6% |
| Distributable reserves | 133 | €323,169 | €392,969 | +€69,800 | +21.6% |
| Amounts payable | 17/49 | €1,440,987 | €913,799 | -€527,188 | -36.6% |
| Amounts payable after more than one year | 17 | €989,136 | €519,725 | -€469,411 | -47.5% |
| Financial debts | 170/4 | €619,364 | €143,153 | -€476,211 | -76.9% |
| Trade debts | 175 | €369,773 | €376,572 | +€6,799 | +1.8% |
| Amounts payable within one year | 42/48 | €451,850 | €394,074 | -€57,777 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €103,320 | €76,733 | -€26,587 | -25.7% |
| Financial debts | 43 | €39,292 | €0 | -€39,292 | -100.0% |
| Credit institutions | 430/8 | €39,292 | €0 | -€39,292 | -100.0% |
| Trade debts | 44 | €46,303 | €59,514 | +€13,211 | +28.5% |
| Suppliers | 440/4 | €46,303 | €59,514 | +€13,211 | +28.5% |
| Taxes, remuneration and social security | 45 | €46,752 | €45,580 | -€1,172 | -2.5% |
| Taxes | 450/3 | €6,524 | €569 | -€5,955 | -91.3% |
| Remuneration and social security | 454/9 | €40,229 | €45,011 | +€4,782 | +11.9% |
| Other amounts payable | 47/48 | €216,183 | €212,247 | -€3,936 | -1.8% |
| Non-recurring operating income | 76A | - | €22,246 | +€22,246 | |
| Remuneration, social security and pensions | 62 | €459,506 | €405,105 | -€54,401 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,604 | €186,189 | +€28,585 | +18.1% |
| Other operating charges | 640/8 | €9,062 | €14,771 | +€5,709 | +63.0% |
| Gross operating margin | 9900 | €652,155 | €740,538 | +€88,383 | +13.6% |
| Operating profit (loss) | 9901 | €25,983 | €134,474 | +€108,491 | +417.5% |
| Financial income | 75/76B | €13,202 | €4,763 | -€8,439 | -63.9% |
| Recurring financial income | 75 | €13,202 | €4,763 | -€8,439 | -63.9% |
| Financial charges | 65/66B | €41,798 | €57,222 | +€15,424 | +36.9% |
| Recurring financial charges | 65 | €41,798 | €57,222 | +€15,424 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,612 | €82,015 | +€84,627 | |
| Income taxes | 67/77 | €456 | €12,215 | +€11,759 | +2579.9% |
| Profit (loss) for the period | 9904 | -€3,068 | €69,800 | +€72,868 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,068 | €69,800 | +€72,868 |
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 4 October 2026 via checked.be.