LANDER: 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.
LANDER
Largest movements
- Stocks and contracts -€5,703
down €5,703 (-5.5%), from €103,233 to €97,530
- Tangible fixed assets -€4,106
down €4,106 (-18.3%), from €22,492 to €18,386
of which Other tangible fixed assets: -€2,372
- Profit (loss) carried forward -€15,341
down €15,341 (-13.8%), from -€111,022 to -€126,363
- Other debts +€11,292
up €11,292 (+7.2%), from €157,321 to €168,614
- Trade debts -€8,261
down €8,261 (-26.9%), from €30,689 to €22,428
- Tax, wage and social debts +€3,436
up €3,436 (+32.8%), from €10,465 to €13,901
of which Taxes: +€2,122
- Advances received -€2,591
down €2,591 (-69.1%), from €3,751 to €1,160
- Gross operating margin +€5,010
up €5,010 (+42.1%), from €11,910 to €16,920
- Staff costs +€2,541
up €2,541 (+11.5%), from €22,190 to €24,732
- Other operating charges +€443
up €443 (+28.1%), from €1,579 to €2,021
- Financial charges +€210
up €210 (+16.3%), from €1,284 to €1,494
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 | €135,949 | €124,484 | -€11,464 | -8.4% |
| Fixed assets | 21/28 | €23,492 | €19,386 | -€4,106 | -17.5% |
| Tangible fixed assets | 22/27 | €22,492 | €18,386 | -€4,106 | -18.3% |
| Plant, machinery and equipment | 23 | €4,056 | €2,322 | -€1,735 | -42.8% |
| Other tangible fixed assets | 26 | €18,436 | €16,064 | -€2,372 | -12.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €112,456 | €105,099 | -€7,358 | -6.5% |
| Stocks and contracts in progress | 3 | €103,233 | €97,530 | -€5,703 | -5.5% |
| Stocks | 30/36 | €103,233 | €97,530 | -€5,703 | -5.5% |
| Amounts receivable within one year | 40/41 | €3,489 | €3,088 | -€401 | -11.5% |
| Trade receivables | 40 | €3,489 | €3,084 | -€406 | -11.6% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €4,617 | €4,380 | -€237 | -5.1% |
| Deferred charges and accrued income | 490/1 | €1,117 | €100 | -€1,017 | -91.0% |
| Total equity and liabilities | 10/49 | €135,949 | €124,484 | -€11,464 | -8.4% |
| Equity | 10/15 | -€66,278 | -€81,619 | -€15,341 | -23.1% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €1,363 | €1,363 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,363 | €1,363 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,363 | €1,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,022 | -€126,363 | -€15,341 | -13.8% |
| Amounts payable | 17/49 | €202,226 | €206,103 | +€3,877 | +1.9% |
| Amounts payable within one year | 42/48 | €202,226 | €206,103 | +€3,877 | +1.9% |
| Trade debts | 44 | €30,689 | €22,428 | -€8,261 | -26.9% |
| Suppliers | 440/4 | €30,689 | €22,428 | -€8,261 | -26.9% |
| Advances received on contracts in progress | 46 | €3,751 | €1,160 | -€2,591 | -69.1% |
| Taxes, remuneration and social security | 45 | €10,465 | €13,901 | +€3,436 | +32.8% |
| Taxes | 450/3 | €6,542 | €8,665 | +€2,122 | +32.4% |
| Remuneration and social security | 454/9 | €3,923 | €5,237 | +€1,314 | +33.5% |
| Other amounts payable | 47/48 | €157,321 | €168,614 | +€11,292 | +7.2% |
| Remuneration, social security and pensions | 62 | €22,190 | €24,732 | +€2,541 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,012 | €4,106 | +€95 | +2.4% |
| Other operating charges | 640/8 | €1,579 | €2,021 | +€443 | +28.1% |
| Gross operating margin | 9900 | €11,910 | €16,920 | +€5,010 | +42.1% |
| Operating profit (loss) | 9901 | -€15,871 | -€13,940 | +€1,931 | +12.2% |
| Financial income | 75/76B | €62 | €92 | +€30 | +48.0% |
| Recurring financial income | 75 | €62 | €92 | +€30 | +48.0% |
| Financial charges | 65/66B | €1,284 | €1,494 | +€210 | +16.3% |
| Recurring financial charges | 65 | €1,284 | €1,494 | +€210 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,092 | -€15,341 | +€1,751 | +10.2% |
| Profit (loss) for the period | 9904 | -€17,092 | -€15,341 | +€1,751 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,092 | -€15,341 | +€1,751 | +10.2% |
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 3 October 2026 via checked.be.