LANDECO: 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.
LANDECO
Largest movements
- Current investments -€626,715
down €626,715 (-83.1%), from €753,759 to €127,044
- Tangible fixed assets +€402,354
up €402,354 (+22.7%), from €1.8m to €2.2m
of which Land and buildings: +€270,241
- Cash +€104,162
up €104,162 (+59.7%), from €174,443 to €278,606
mainly Net result for the year (+€1.0m) and Current investments (+€626,715)
- Contributions -€754,416
down €754,416 (-48.7%), from €1.5m to €794,984
- Reserves +€502,964
up €502,964 (+22.0%), from €2.3m to €2.8m
- Tax, wage and social debts +€103,387
up €103,387 (+110%), from €94,158 to €197,544
- Financial income +€863,643
up €863,643 (+1,915%), from €45,107 to €908,750
- Taxes +€108,616
up €108,616 (+59.6%), from €182,140 to €290,756
- Depreciation +€80,429
up €80,429 (+140%), from €57,397 to €137,827
- Gross operating margin -€41,909
down €41,909 (-6.7%), from €629,571 to €587,662
- Financial charges -€25,729
down €25,729 (-59.5%), from €43,256 to €17,527
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 | €4,270,052 | €4,125,452 | -€144,600 | -3.4% |
| Fixed assets | 21/28 | €3,307,314 | €3,709,668 | +€402,354 | +12.2% |
| Tangible fixed assets | 22/27 | €1,770,314 | €2,172,668 | +€402,354 | +22.7% |
| Land and buildings | 22 | €1,604,140 | €1,874,380 | +€270,241 | +16.8% |
| Plant, machinery and equipment | 23 | €63,174 | €58,374 | -€4,800 | -7.6% |
| Furniture and vehicles | 24 | €103,000 | €239,914 | +€136,914 | +133% |
| Financial fixed assets | 28 | €1,537,000 | €1,537,000 | = | 0.0% |
| Current assets | 29/58 | €962,738 | €415,783 | -€546,955 | -56.8% |
| Amounts receivable within one year | 40/41 | €30,351 | €1,225 | -€29,125 | -96.0% |
| Trade receivables | 40 | €661 | €725 | +€65 | +9.8% |
| Other amounts receivable | 41 | €29,690 | €500 | -€29,190 | -98.3% |
| Current investments | 50/53 | €753,759 | €127,044 | -€626,715 | -83.1% |
| Cash at bank and in hand | 54/58 | €174,443 | €278,606 | +€104,162 | +59.7% |
| Deferred charges and accrued income | 490/1 | €4,185 | €8,909 | +€4,724 | +113% |
| Total equity and liabilities | 10/49 | €4,270,052 | €4,125,452 | -€144,600 | -3.4% |
| Equity | 10/15 | €3,840,126 | €3,588,673 | -€251,452 | -6.5% |
| Contributions | 10/11 | €1,549,400 | €794,984 | -€754,416 | -48.7% |
| Reserves | 13 | €2,290,726 | €2,793,690 | +€502,964 | +22.0% |
| Distributable reserves | 133 | €2,290,726 | €2,793,690 | +€502,964 | +22.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €429,926 | €536,778 | +€106,852 | +24.9% |
| Amounts payable within one year | 42/48 | €429,926 | €536,778 | +€106,852 | +24.9% |
| Trade debts | 44 | €802 | €2,431 | +€1,629 | +203% |
| Suppliers | 440/4 | €802 | €2,431 | +€1,629 | +203% |
| Taxes, remuneration and social security | 45 | €94,158 | €197,544 | +€103,387 | +110% |
| Taxes | 450/3 | €94,158 | €197,544 | +€103,387 | +110% |
| Other amounts payable | 47/48 | €334,966 | €336,803 | +€1,837 | +0.5% |
| Non-recurring operating income | 76A | - | €22,000 | +€22,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,397 | €137,827 | +€80,429 | +140% |
| Other operating charges | 640/8 | €1,701 | €1,720 | +€20 | +1.2% |
| Gross operating margin | 9900 | €629,571 | €587,662 | -€41,909 | -6.7% |
| Operating profit (loss) | 9901 | €570,473 | €448,115 | -€122,358 | -21.4% |
| Financial income | 75/76B | €45,107 | €908,750 | +€863,643 | +1,915% |
| Recurring financial income | 75 | €45,107 | €908,750 | +€863,643 | +1,915% |
| Financial charges | 65/66B | €43,256 | €17,527 | -€25,729 | -59.5% |
| Recurring financial charges | 65 | €43,256 | €17,527 | -€25,729 | -59.5% |
| Profit (loss) for the period before taxes | 9903 | €572,325 | €1,339,338 | +€767,014 | +134% |
| Income taxes | 67/77 | €182,140 | €290,756 | +€108,616 | +59.6% |
| Profit (loss) for the period | 9904 | €390,184 | €1,048,582 | +€658,398 | +169% |
| Profit (loss) for the period to be appropriated | 9905 | €390,184 | €1,048,582 | +€658,398 | +169% |
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 25 October 2026 via checked.be.