LANDEKEN: 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.
What changed
LANDEKEN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€103,059
2024 · €116,034-€12,976
Equity
€3.1m
2024 · €3.0m+€103,059
Cash
€146,854
2024 · €121,613+€25,241
Balance sheet total
€3.9m
2024 · €4.1m-€208,666
Largest movements
Assets
- Tangible fixed assets -€226,744
down €226,744 (-6.3%), from €3.6m to €3.4m
of which Land and buildings: -€222,614
Equity and liabilities
- Short-term financial debts -€200,000
down €200,000 (-100%), from €200,000 to €0
- Reserves +€103,059
up €103,059 (+7.7%), from €1.3m to €1.4m
of which Distributable reserves: +€103,059
- Debts after one year -€64,783
down €64,783 (-20.7%), from €312,563 to €247,780
Income statement
- Gross operating margin +€33,023
up €33,023 (+11.0%), from €301,131 to €334,153
- Taxes +€31,199
up €31,199 (+187%), from €16,672 to €47,870
- Depreciation +€16,970
up €16,970 (+10.8%), from €157,549 to €174,519
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.
Result 2024
€116,034
Gross operating margin
+€33,023
Depreciation
-€16,970
Other operating charges
+€362
Financial income
+€245
Financial charges
+€1,564
Taxes
-€31,199
Result 2025
€103,059
raises the resultlowers the result
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.
From operations
+€243,588
Investment
+€50,625
Financing
-€268,972
Cash 2024
€121,613
From operations (derived)
+€243,588
Net result for the year
+€103,059
Depreciation
+€174,519
Receivables within one year
+€11,192
Deferred charges and accrued income
-€2,428
Trade debts
-€19,912
Tax, wage and social debts
+€1,670
Other debts
-€21,379
Accrued charges and deferred income
-€3,131
Investment (derived)
+€50,625
Investment in fixed assets (net)
+€50,625
Financing
-€268,972
Debts after one year
-€64,783
Current portion of long-term debt
-€4,189
Short-term financial debts
-€200,000
Cash 2025
€146,854
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,067,058 | €3,858,392 | -€208,666 | -5.1% |
| Fixed assets | 21/28 | €3,622,787 | €3,397,643 | -€225,144 | -6.2% |
| Tangible fixed assets | 22/27 | €3,593,720 | €3,366,976 | -€226,744 | -6.3% |
| Land and buildings | 22 | €3,547,581 | €3,324,967 | -€222,614 | -6.3% |
| Plant, machinery and equipment | 23 | €143 | €0 | -€143 | -100% |
| Furniture and vehicles | 24 | €45,995 | €26,059 | -€19,936 | -43.3% |
| Other tangible fixed assets | 26 | - | €15,950 | +€15,950 | |
| Financial fixed assets | 28 | €29,067 | €30,667 | +€1,600 | +5.5% |
| Current assets | 29/58 | €444,271 | €460,749 | +€16,478 | +3.7% |
| Amounts receivable within one year | 40/41 | €322,658 | €311,467 | -€11,192 | -3.5% |
| Trade receivables | 40 | €50,869 | €52,164 | +€1,295 | +2.5% |
| Other amounts receivable | 41 | €271,789 | €259,303 | -€12,487 | -4.6% |
| Cash at bank and in hand | 54/58 | €121,613 | €146,854 | +€25,241 | +20.8% |
| Deferred charges and accrued income | 490/1 | - | €2,428 | +€2,428 | |
| Total equity and liabilities | 10/49 | €4,067,058 | €3,858,392 | -€208,666 | -5.1% |
| Equity | 10/15 | €3,026,709 | €3,129,767 | +€103,059 | +3.4% |
| Contributions | 10/11 | €1,680,000 | €1,680,000 | = | 0.0% |
| Reserves | 13 | €1,346,709 | €1,449,767 | +€103,059 | +7.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,346,709 | €1,449,767 | +€103,059 | +7.7% |
| Amounts payable | 17/49 | €1,040,349 | €728,625 | -€311,725 | -30.0% |
| Amounts payable after more than one year | 17 | €312,563 | €247,780 | -€64,783 | -20.7% |
| Financial debts | 170/4 | €312,563 | €247,780 | -€64,783 | -20.7% |
| Amounts payable within one year | 42/48 | €723,648 | €479,838 | -€243,810 | -33.7% |
| Current portion of amounts payable after more than one year | 42 | €74,753 | €70,564 | -€4,189 | -5.6% |
| Financial debts | 43 | €200,000 | €0 | -€200,000 | -100% |
| Credit institutions | 430/8 | €200,000 | €0 | -€200,000 | -100% |
| Trade debts | 44 | €47,123 | €27,211 | -€19,912 | -42.3% |
| Suppliers | 440/4 | €47,123 | €27,211 | -€19,912 | -42.3% |
| Taxes, remuneration and social security | 45 | €18,614 | €20,284 | +€1,670 | +9.0% |
| Taxes | 450/3 | €18,614 | €20,284 | +€1,670 | +9.0% |
| Other amounts payable | 47/48 | €383,158 | €361,779 | -€21,379 | -5.6% |
| Accrued charges and deferred income | 492/3 | €4,138 | €1,007 | -€3,131 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,549 | €174,519 | +€16,970 | +10.8% |
| Other operating charges | 640/8 | €2,566 | €2,204 | -€362 | -14.1% |
| Gross operating margin | 9900 | €301,131 | €334,153 | +€33,023 | +11.0% |
| Operating profit (loss) | 9901 | €141,016 | €157,430 | +€16,414 | +11.6% |
| Financial income | 75/76B | €4,890 | €5,135 | +€245 | +5.0% |
| Recurring financial income | 75 | €4,890 | €5,135 | +€245 | +5.0% |
| Financial charges | 65/66B | €13,200 | €11,636 | -€1,564 | -11.8% |
| Recurring financial charges | 65 | €13,200 | €11,636 | -€1,564 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €132,706 | €150,929 | +€18,223 | +13.7% |
| Income taxes | 67/77 | €16,672 | €47,870 | +€31,199 | +187% |
| Profit (loss) for the period | 9904 | €116,034 | €103,059 | -€12,976 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €116,034 | €103,059 | -€12,976 | -11.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.