Lander: 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.
Lander
Largest movements
- Receivables within one year +€40,518
up €40,518 (+28.3%), from €143,128 to €183,645
of which Trade receivables: +€40,518
- Tangible fixed assets -€9,245
down €9,245 (-8.8%), from €105,529 to €96,284
of which Land and buildings: -€8,000
- Other debts +€20,831
up €20,831 (+86.1%), from €24,189 to €45,020
- Trade debts +€16,242
up €16,242, from €0 to €16,242
- Debts after one year -€9,698
down €9,698 (-12.7%), from €76,348 to €66,649
- Gross operating margin -€12,802
down €12,802 (-46.3%), from €27,653 to €14,851
- Other operating charges -€2,978
down €2,978 (-98.9%), from €3,011 to €33
- Taxes -€2,773
down €2,773 (-84.9%), from €3,264 to €491
- Financial charges +€882
up €882 (+25.7%), from €3,435 to €4,317
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 | €248,867 | €279,930 | +€31,063 | +12.5% |
| Fixed assets | 21/28 | €105,529 | €96,284 | -€9,245 | -8.8% |
| Tangible fixed assets | 22/27 | €105,529 | €96,284 | -€9,245 | -8.8% |
| Land and buildings | 22 | €104,000 | €96,000 | -€8,000 | -7.7% |
| Plant, machinery and equipment | 23 | €1,529 | €284 | -€1,245 | -81.4% |
| Current assets | 29/58 | €143,338 | €183,646 | +€40,308 | +28.1% |
| Amounts receivable within one year | 40/41 | €143,128 | €183,645 | +€40,518 | +28.3% |
| Trade receivables | 40 | €143,128 | €183,645 | +€40,518 | +28.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1 | €1 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €210 | €0 | -€210 | -100% |
| Total equity and liabilities | 10/49 | €248,867 | €279,930 | +€31,063 | +12.5% |
| Equity | 10/15 | €91,888 | €92,662 | +€773 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,688 | €86,462 | +€773 | +0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €83,828 | €84,602 | +€773 | +0.9% |
| Amounts payable | 17/49 | €156,978 | €187,269 | +€30,290 | +19.3% |
| Amounts payable after more than one year | 17 | €76,348 | €66,649 | -€9,698 | -12.7% |
| Financial debts | 170/4 | €76,348 | €66,649 | -€9,698 | -12.7% |
| Amounts payable within one year | 42/48 | €80,631 | €120,619 | +€39,988 | +49.6% |
| Current portion of amounts payable after more than one year | 42 | €9,487 | €11,294 | +€1,807 | +19.1% |
| Financial debts | 43 | €19,048 | €19,955 | +€907 | +4.8% |
| Credit institutions | 430/8 | €19,048 | €19,955 | +€907 | +4.8% |
| Trade debts | 44 | €0 | €16,242 | +€16,242 | |
| Suppliers | 440/4 | €0 | €16,242 | +€16,242 | |
| Taxes, remuneration and social security | 45 | €27,907 | €28,108 | +€201 | +0.7% |
| Taxes | 450/3 | €27,907 | €28,108 | +€201 | +0.7% |
| Other amounts payable | 47/48 | €24,189 | €45,020 | +€20,831 | +86.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,245 | €9,245 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,011 | €33 | -€2,978 | -98.9% |
| Gross operating margin | 9900 | €27,653 | €14,851 | -€12,802 | -46.3% |
| Operating profit (loss) | 9901 | €15,397 | €5,573 | -€9,824 | -63.8% |
| Financial income | 75/76B | €31 | €9 | -€22 | -71.1% |
| Recurring financial income | 75 | €31 | €9 | -€22 | -71.1% |
| Financial charges | 65/66B | €3,435 | €4,317 | +€882 | +25.7% |
| Recurring financial charges | 65 | €3,435 | €4,317 | +€882 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €11,993 | €1,264 | -€10,729 | -89.5% |
| Income taxes | 67/77 | €3,264 | €491 | -€2,773 | -84.9% |
| Profit (loss) for the period | 9904 | €8,729 | €773 | -€7,956 | -91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,729 | €773 | -€7,956 | -91.1% |
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 15 October 2026 via checked.be.