DE LAENDER: 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.
DE LAENDER
Largest movements
- Cash +€79,923
up €79,923 (+17.0%), from €468,986 to €548,909
mainly Net result for the year (+€92,574) and Receivables within one year (+€50,127)
- Receivables within one year -€50,127
down €50,127 (-33.7%), from €148,825 to €98,698
of which Trade receivables: -€54,390
- Stocks and contracts -€11,352
down €11,352 (-5.7%), from €198,090 to €186,738
- Tangible fixed assets -€10,053
down €10,053 (-9.6%), from €104,303 to €94,250
- Reserves +€55,266
up €55,266 (+10.2%), from €543,998 to €599,263
of which Distributable reserves: +€55,266
- Trade debts -€42,194
down €42,194 (-64.4%), from €65,566 to €23,372
- Financial income -€3,053
down €3,053 (-20.5%), from €14,913 to €11,860
- Staff costs -€1,872
down €1,872 (-5.1%), from €36,846 to €34,974
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 | €922,816 | €930,825 | +€8,008 | +0.9% |
| Fixed assets | 21/28 | €105,065 | €95,012 | -€10,053 | -9.6% |
| Tangible fixed assets | 22/27 | €104,303 | €94,250 | -€10,053 | -9.6% |
| Land and buildings | 22 | €62,916 | €59,220 | -€3,696 | -5.9% |
| Furniture and vehicles | 24 | €14,175 | €9,583 | -€4,592 | -32.4% |
| Other tangible fixed assets | 26 | €27,211 | €25,447 | -€1,764 | -6.5% |
| Financial fixed assets | 28 | €762 | €762 | = | 0.0% |
| Current assets | 29/58 | €817,752 | €835,813 | +€18,061 | +2.2% |
| Stocks and contracts in progress | 3 | €198,090 | €186,738 | -€11,352 | -5.7% |
| Stocks | 30/36 | €198,090 | €186,738 | -€11,352 | -5.7% |
| Amounts receivable within one year | 40/41 | €148,825 | €98,698 | -€50,127 | -33.7% |
| Trade receivables | 40 | €148,825 | €94,435 | -€54,390 | -36.5% |
| Other amounts receivable | 41 | - | €4,263 | +€4,263 | |
| Cash at bank and in hand | 54/58 | €468,986 | €548,909 | +€79,923 | +17.0% |
| Deferred charges and accrued income | 490/1 | €1,851 | €1,468 | -€383 | -20.7% |
| Total equity and liabilities | 10/49 | €922,816 | €930,825 | +€8,008 | +0.9% |
| Equity | 10/15 | €841,192 | €896,376 | +€55,185 | +6.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €543,998 | €599,263 | +€55,266 | +10.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,052 | €13,052 | = | 0.0% |
| Distributable reserves | 133 | €529,086 | €584,352 | +€55,266 | +10.4% |
| Profit (loss) carried forward | 14 | €278,602 | €278,521 | -€81 | 0.0% |
| Amounts payable | 17/49 | €81,625 | €34,448 | -€47,176 | -57.8% |
| Amounts payable within one year | 42/48 | €81,249 | €34,448 | -€46,801 | -57.6% |
| Trade debts | 44 | €65,566 | €23,372 | -€42,194 | -64.4% |
| Suppliers | 440/4 | €65,566 | €23,372 | -€42,194 | -64.4% |
| Taxes, remuneration and social security | 45 | €5,394 | €7,821 | +€2,427 | +45.0% |
| Taxes | 450/3 | €5,184 | €5,825 | +€642 | +12.4% |
| Remuneration and social security | 454/9 | €211 | €1,996 | +€1,785 | +847.2% |
| Other amounts payable | 47/48 | €10,288 | €3,255 | -€7,034 | -68.4% |
| Accrued charges and deferred income | 492/3 | €376 | - | -€376 | |
| Non-recurring operating income | 76A | €25 | - | -€25 | |
| Remuneration, social security and pensions | 62 | €36,846 | €34,974 | -€1,872 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,033 | €15,711 | -€322 | -2.0% |
| Other operating charges | 640/8 | €1,809 | €2,019 | +€210 | +11.6% |
| Gross operating margin | 9900 | €177,133 | €176,677 | -€455 | -0.3% |
| Operating profit (loss) | 9901 | €122,444 | €123,973 | +€1,530 | +1.2% |
| Financial income | 75/76B | €14,913 | €11,860 | -€3,053 | -20.5% |
| Recurring financial income | 75 | €14,913 | €11,860 | -€3,053 | -20.5% |
| Financial charges | 65/66B | -€447 | €97 | +€544 | |
| Recurring financial charges | 65 | -€447 | €97 | +€544 | |
| Profit (loss) for the period before taxes | 9903 | €137,804 | €135,736 | -€2,068 | -1.5% |
| Income taxes | 67/77 | €43,984 | €43,162 | -€822 | -1.9% |
| Profit (loss) for the period | 9904 | €93,820 | €92,574 | -€1,246 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €93,820 | €92,574 | -€1,246 | -1.3% |
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 3 October 2026 via checked.be.