LANDBERGH: 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.
LANDBERGH
Largest movements
- Cash +€252,509
up €252,509 (+604%), from €41,799 to €294,309
mainly Trade debts (+€172,152) and Depreciation (+€76,914)
- Receivables within one year -€33,835
down €33,835 (-14.3%), from €236,763 to €202,928
of which Trade receivables: -€29,318
- Tangible fixed assets +€22,705
up €22,705 (+12.8%), from €176,829 to €199,534
of which Furniture and vehicles: +€38,947
- Intangible fixed assets -€17,097
down €17,097 (-36.8%), from €46,414 to €29,317
- Trade debts +€172,152
up €172,152 (+520%), from €33,119 to €205,271
- Debts after one year +€31,014
up €31,014 (+118%), from €26,259 to €57,273
- Tax, wage and social debts +€28,454
up €28,454 (+38.4%), from €74,116 to €102,571
of which Taxes: +€37,227
- Current portion of long-term debt -€11,085
down €11,085 (-29.5%), from €37,595 to €26,510
- Staff costs -€32,175
down €32,175 (-8.3%), from €386,603 to €354,429
- Gross operating margin -€31,804
down €31,804 (-6.4%), from €497,449 to €465,644
- Depreciation -€16,983
down €16,983 (-18.1%), from €93,897 to €76,914
- Taxes -€5,057
down €5,057 (-53.9%), from €9,387 to €4,329
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 | €506,997 | €733,671 | +€226,673 | +44.7% |
| Fixed assets | 21/28 | €223,243 | €228,851 | +€5,608 | +2.5% |
| Intangible fixed assets | 21 | €46,414 | €29,317 | -€17,097 | -36.8% |
| Tangible fixed assets | 22/27 | €176,829 | €199,534 | +€22,705 | +12.8% |
| Plant, machinery and equipment | 23 | €13,347 | €6,787 | -€6,560 | -49.1% |
| Furniture and vehicles | 24 | €109,594 | €148,541 | +€38,947 | +35.5% |
| Other tangible fixed assets | 26 | €53,888 | €44,206 | -€9,681 | -18.0% |
| Current assets | 29/58 | €283,754 | €504,819 | +€221,065 | +77.9% |
| Amounts receivable within one year | 40/41 | €236,763 | €202,928 | -€33,835 | -14.3% |
| Trade receivables | 40 | €211,516 | €182,198 | -€29,318 | -13.9% |
| Other amounts receivable | 41 | €25,247 | €20,730 | -€4,516 | -17.9% |
| Cash at bank and in hand | 54/58 | €41,799 | €294,309 | +€252,509 | +604% |
| Deferred charges and accrued income | 490/1 | €5,192 | €7,583 | +€2,391 | +46.0% |
| Total equity and liabilities | 10/49 | €506,997 | €733,671 | +€226,673 | +44.7% |
| Equity | 10/15 | €335,900 | €336,810 | +€910 | +0.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €275,900 | €276,810 | +€910 | +0.3% |
| Distributable reserves | 133 | €275,900 | €276,810 | +€910 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €171,097 | €396,861 | +€225,764 | +132% |
| Amounts payable after more than one year | 17 | €26,259 | €57,273 | +€31,014 | +118% |
| Financial debts | 170/4 | €26,259 | €57,273 | +€31,014 | +118% |
| Amounts payable within one year | 42/48 | €144,830 | €338,830 | +€194,000 | +134% |
| Current portion of amounts payable after more than one year | 42 | €37,595 | €26,510 | -€11,085 | -29.5% |
| Financial debts | 43 | €0 | €4,478 | +€4,478 | |
| Credit institutions | 430/8 | €0 | €4,478 | +€4,478 | |
| Trade debts | 44 | €33,119 | €205,271 | +€172,152 | +520% |
| Suppliers | 440/4 | €33,119 | €205,271 | +€172,152 | +520% |
| Taxes, remuneration and social security | 45 | €74,116 | €102,571 | +€28,454 | +38.4% |
| Taxes | 450/3 | €36,891 | €74,118 | +€37,227 | +101% |
| Remuneration and social security | 454/9 | €37,225 | €28,452 | -€8,773 | -23.6% |
| Accrued charges and deferred income | 492/3 | €9 | €758 | +€749 | +8,765% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €386,603 | €354,429 | -€32,175 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,897 | €76,914 | -€16,983 | -18.1% |
| Other operating charges | 640/8 | €5,689 | €1,084 | -€4,605 | -80.9% |
| Non-recurring operating charges | 66A | - | €25,969 | +€25,969 | |
| Gross operating margin | 9900 | €497,449 | €465,644 | -€31,804 | -6.4% |
| Operating profit (loss) | 9901 | €11,259 | €7,248 | -€4,011 | -35.6% |
| Financial income | 75/76B | €310 | €396 | +€86 | +27.7% |
| Recurring financial income | 75 | €310 | €396 | +€86 | +27.7% |
| Financial charges | 65/66B | €1,973 | €2,404 | +€432 | +21.9% |
| Recurring financial charges | 65 | €1,973 | €2,404 | +€432 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €9,596 | €5,239 | -€4,357 | -45.4% |
| Income taxes | 67/77 | €9,387 | €4,329 | -€5,057 | -53.9% |
| Profit (loss) for the period | 9904 | €209 | €910 | +€701 | +335% |
| Profit (loss) for the period to be appropriated | 9905 | €209 | €910 | +€701 | +335% |
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 22 October 2026 via checked.be.