LAND: 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.
LAND
Largest movements
- Stocks and contracts +€40,746
up €40,746 (+84.0%), from €48,520 to €89,266
- Intangible fixed assets -€6,303
down €6,303 (-35.3%), from €17,859 to €11,556
- Trade debts +€22,757
up €22,757 (+26.9%), from €84,628 to €107,385
- Profit (loss) carried forward +€8,171
up €8,171 (+10.6%), from -€77,061 to -€68,890
- Tax, wage and social debts +€5,711
up €5,711 (+13.6%), from €42,122 to €47,833
of which Taxes: +€5,267
- Gross operating margin +€28,908
up €28,908 (+31.3%), from €92,454 to €121,362
- Staff costs +€8,273
up €8,273 (+8.7%), from €95,090 to €103,363
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 | €177,708 | €215,344 | +€37,636 | +21.2% |
| Fixed assets | 21/28 | €68,898 | €61,578 | -€7,320 | -10.6% |
| Intangible fixed assets | 21 | €17,859 | €11,556 | -€6,303 | -35.3% |
| Tangible fixed assets | 22/27 | €3,336 | €2,319 | -€1,017 | -30.5% |
| Furniture and vehicles | 24 | €823 | €493 | -€330 | -40.1% |
| Other tangible fixed assets | 26 | €2,513 | €1,826 | -€687 | -27.3% |
| Financial fixed assets | 28 | €47,703 | €47,703 | = | 0.0% |
| Current assets | 29/58 | €108,810 | €153,766 | +€44,956 | +41.3% |
| Stocks and contracts in progress | 3 | €48,520 | €89,266 | +€40,746 | +84.0% |
| Stocks | 30/36 | €48,520 | €89,266 | +€40,746 | +84.0% |
| Amounts receivable within one year | 40/41 | €4,129 | €6,230 | +€2,102 | +50.9% |
| Trade receivables | 40 | €2,249 | €3,054 | +€805 | +35.8% |
| Other amounts receivable | 41 | €1,880 | €3,177 | +€1,297 | +69.0% |
| Cash at bank and in hand | 54/58 | €55,219 | €57,084 | +€1,865 | +3.4% |
| Deferred charges and accrued income | 490/1 | €942 | €1,185 | +€243 | +25.8% |
| Total equity and liabilities | 10/49 | €177,708 | €215,344 | +€37,636 | +21.2% |
| Equity | 10/15 | -€65,861 | -€57,690 | +€8,171 | +12.4% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,061 | -€68,890 | +€8,171 | +10.6% |
| Amounts payable | 17/49 | €243,569 | €273,033 | +€29,465 | +12.1% |
| Amounts payable after more than one year | 17 | €116,316 | €117,816 | +€1,500 | +1.3% |
| Other amounts payable | 178/9 | €116,316 | €117,816 | +€1,500 | +1.3% |
| Amounts payable within one year | 42/48 | €127,253 | €155,218 | +€27,965 | +22.0% |
| Trade debts | 44 | €84,628 | €107,385 | +€22,757 | +26.9% |
| Suppliers | 440/4 | €84,628 | €107,385 | +€22,757 | +26.9% |
| Taxes, remuneration and social security | 45 | €42,122 | €47,833 | +€5,711 | +13.6% |
| Taxes | 450/3 | €16,434 | €21,701 | +€5,267 | +32.0% |
| Remuneration and social security | 454/9 | €25,688 | €26,132 | +€444 | +1.7% |
| Other amounts payable | 47/48 | €503 | - | -€503 | |
| Remuneration, social security and pensions | 62 | €95,090 | €103,363 | +€8,273 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,320 | €7,320 | -€0 | 0.0% |
| Other operating charges | 640/8 | €767 | €550 | -€218 | -28.4% |
| Non-recurring operating charges | 66A | €1,000 | €820 | -€180 | -18.0% |
| Gross operating margin | 9900 | €92,454 | €121,362 | +€28,908 | +31.3% |
| Operating profit (loss) | 9901 | -€11,724 | €9,309 | +€21,033 | |
| Financial income | 75/76B | €0 | €172 | +€172 | +858450.0% |
| Recurring financial income | 75 | €0 | €172 | +€172 | +858450.0% |
| Financial charges | 65/66B | €226 | €1,279 | +€1,053 | +465.9% |
| Recurring financial charges | 65 | €226 | €1,279 | +€1,053 | +465.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,950 | €8,202 | +€20,152 | |
| Income taxes | 67/77 | - | €31 | +€31 | |
| Profit (loss) for the period | 9904 | -€11,950 | €8,171 | +€20,121 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,950 | €8,171 | +€20,121 |
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 7 October 2026 via checked.be.