LAN 2 MIL: 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.
LAN 2 MIL
Largest movements
- Receivables after one year -€172,000
down €172,000 (-27.5%), from €626,000 to €454,000
- Cash +€148,008
up €148,008 (+79.5%), from €186,149 to €334,157
mainly Receivables after one year (+€172,000) and Depreciation (+€61,604)
- Receivables within one year +€144,038
up €144,038 (+109%), from €131,874 to €275,912
of which Other amounts receivable: +€144,038
- Tangible fixed assets -€61,604
down €61,604 (-6.7%), from €919,655 to €858,051
of which Land and buildings: -€45,779
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€802,430
down €802,430 (-79.7%), from €1.0m to €204,207
- Taxes -€157,557
down €157,557 (-95.6%), from €164,767 to €7,210
- Financial charges +€24,512
up €24,512 (+28.2%), from €86,774 to €111,286
- Other operating charges -€10,691
down €10,691 (-36.1%), from €29,609 to €18,918
- Depreciation -€5,668
down €5,668 (-8.4%), from €67,272 to €61,604
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 | €6,089,473 | €6,115,712 | +€26,240 | +0.4% |
| Fixed assets | 21/28 | €919,655 | €858,051 | -€61,604 | -6.7% |
| Tangible fixed assets | 22/27 | €919,655 | €858,051 | -€61,604 | -6.7% |
| Land and buildings | 22 | €851,266 | €805,488 | -€45,779 | -5.4% |
| Plant, machinery and equipment | 23 | €26,969 | €21,417 | -€5,552 | -20.6% |
| Furniture and vehicles | 24 | €41,420 | €31,146 | -€10,274 | -24.8% |
| Current assets | 29/58 | €5,169,818 | €5,257,662 | +€87,844 | +1.7% |
| Amounts receivable after more than one year | 29 | €626,000 | €454,000 | -€172,000 | -27.5% |
| Other amounts receivable | 291 | €626,000 | €454,000 | -€172,000 | -27.5% |
| Amounts receivable within one year | 40/41 | €131,874 | €275,912 | +€144,038 | +109% |
| Trade receivables | 40 | €1,809 | €1,809 | = | 0.0% |
| Other amounts receivable | 41 | €130,065 | €274,103 | +€144,038 | +111% |
| Current investments | 50/53 | €4,214,632 | €4,184,416 | -€30,216 | -0.7% |
| Cash at bank and in hand | 54/58 | €186,149 | €334,157 | +€148,008 | +79.5% |
| Deferred charges and accrued income | 490/1 | €11,163 | €9,177 | -€1,986 | -17.8% |
| Total equity and liabilities | 10/49 | €6,089,473 | €6,115,712 | +€26,240 | +0.4% |
| Equity | 10/15 | €5,002,251 | €5,033,971 | +€31,720 | +0.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,255,828 | €4,287,528 | +€31,700 | +0.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €132,628 | €132,628 | = | 0.0% |
| Distributable reserves | 133 | €4,117,000 | €4,148,700 | +€31,700 | +0.8% |
| Profit (loss) carried forward | 14 | €684,423 | €684,443 | +€20 | 0.0% |
| Amounts payable | 17/49 | €1,087,222 | €1,081,741 | -€5,481 | -0.5% |
| Amounts payable after more than one year | 17 | €3,700 | €4,800 | +€1,100 | +29.7% |
| Other amounts payable | 178/9 | €3,700 | €4,800 | +€1,100 | +29.7% |
| Amounts payable within one year | 42/48 | €1,008,131 | €1,014,144 | +€6,014 | +0.6% |
| Trade debts | 44 | €1,430 | €1,641 | +€211 | +14.8% |
| Suppliers | 440/4 | €1,430 | €1,641 | +€211 | +14.8% |
| Taxes, remuneration and social security | 45 | €129,189 | €129,189 | = | 0.0% |
| Taxes | 450/3 | €129,189 | €129,189 | = | 0.0% |
| Other amounts payable | 47/48 | €877,512 | €883,315 | +€5,803 | +0.7% |
| Accrued charges and deferred income | 492/3 | €75,391 | €62,797 | -€12,594 | -16.7% |
| Non-recurring operating income | 76A | €4,750 | - | -€4,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,272 | €61,604 | -€5,668 | -8.4% |
| Other operating charges | 640/8 | €29,609 | €18,918 | -€10,691 | -36.1% |
| Non-recurring operating charges | 66A | - | €163 | +€163 | |
| Gross operating margin | 9900 | €24,801 | €26,694 | +€1,893 | +7.6% |
| Operating profit (loss) | 9901 | -€72,081 | -€53,992 | +€18,089 | +25.1% |
| Financial income | 75/76B | €1,006,638 | €204,207 | -€802,430 | -79.7% |
| Recurring financial income | 75 | €1,006,638 | €204,207 | -€802,430 | -79.7% |
| Financial charges | 65/66B | €86,774 | €111,286 | +€24,512 | +28.2% |
| Recurring financial charges | 65 | €86,774 | €111,286 | +€24,512 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €847,783 | €38,930 | -€808,853 | -95.4% |
| Income taxes | 67/77 | €164,767 | €7,210 | -€157,557 | -95.6% |
| Profit (loss) for the period | 9904 | €683,016 | €31,720 | -€651,296 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €683,016 | €31,720 | -€651,296 | -95.4% |
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 24 October 2026 via checked.be.