LANDRON-VICARD Management: 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.
LANDRON-VICARD Management
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash +€9,212
up €9,212 (+7.5%), from €123,127 to €132,339
mainly Net result for the year (+€79,099) and Tax, wage and social debts (+€31,339)
- Receivables within one year -€4,738
down €4,738 (-21.7%), from €21,878 to €17,140
of which Trade receivables: -€4,566
- Tangible fixed assets +€4,737
up €4,737 (+21.2%), from €22,296 to €27,033
of which Furniture and vehicles: +€3,228
- Reserves +€79,099
up €79,099 (+73.3%), from €107,948 to €187,047
- Tax, wage and social debts +€31,339
up €31,339 (+57.3%), from €54,656 to €85,995
- Gross operating margin -€44,462
down €44,462 (-26.8%), from €166,085 to €121,623
- Taxes -€14,877
down €14,877 (-32.1%), from €46,385 to €31,508
- Financial charges +€4,175
up €4,175 (+276%), from €1,510 to €5,685
- Depreciation +€1,766
up €1,766 (+37.2%), from €4,746 to €6,511
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 | €167,818 | €277,012 | +€109,194 | +65.1% |
| Fixed assets | 21/28 | €22,796 | €27,533 | +€4,737 | +20.8% |
| Tangible fixed assets | 22/27 | €22,296 | €27,033 | +€4,737 | +21.2% |
| Plant, machinery and equipment | 23 | €2,113 | €3,621 | +€1,508 | +71.4% |
| Furniture and vehicles | 24 | €20,184 | €23,412 | +€3,228 | +16.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €145,021 | €249,479 | +€104,458 | +72.0% |
| Amounts receivable within one year | 40/41 | €21,878 | €17,140 | -€4,738 | -21.7% |
| Trade receivables | 40 | €21,706 | €17,140 | -€4,566 | -21.0% |
| Other amounts receivable | 41 | €172 | - | -€172 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €123,127 | €132,339 | +€9,212 | +7.5% |
| Deferred charges and accrued income | 490/1 | €17 | - | -€17 | |
| Total equity and liabilities | 10/49 | €167,818 | €277,012 | +€109,194 | +65.1% |
| Equity | 10/15 | €110,948 | €190,047 | +€79,099 | +71.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €107,948 | €187,047 | +€79,099 | +73.3% |
| Distributable reserves | 133 | €107,948 | €187,047 | +€79,099 | +73.3% |
| Amounts payable | 17/49 | €56,870 | €86,965 | +€30,095 | +52.9% |
| Amounts payable within one year | 42/48 | €56,870 | €86,965 | +€30,095 | +52.9% |
| Trade debts | 44 | €2,214 | €644 | -€1,570 | -70.9% |
| Suppliers | 440/4 | €2,214 | €644 | -€1,570 | -70.9% |
| Taxes, remuneration and social security | 45 | €54,656 | €85,995 | +€31,339 | +57.3% |
| Taxes | 450/3 | €54,656 | €85,995 | +€31,339 | +57.3% |
| Other amounts payable | 47/48 | - | €327 | +€327 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,746 | €6,511 | +€1,766 | +37.2% |
| Other operating charges | 640/8 | €788 | €400 | -€388 | -49.2% |
| Non-recurring operating charges | 66A | €4,721 | - | -€4,721 | |
| Gross operating margin | 9900 | €166,085 | €121,623 | -€44,462 | -26.8% |
| Operating profit (loss) | 9901 | €155,831 | €114,712 | -€41,119 | -26.4% |
| Financial income | 75/76B | €12 | €1,581 | +€1,569 | +13,083% |
| Recurring financial income | 75 | €12 | €1,581 | +€1,569 | +13,083% |
| Financial charges | 65/66B | €1,510 | €5,685 | +€4,175 | +276% |
| Recurring financial charges | 65 | €1,510 | €5,685 | +€4,175 | +276% |
| Profit (loss) for the period before taxes | 9903 | €154,333 | €110,607 | -€43,725 | -28.3% |
| Income taxes | 67/77 | €46,385 | €31,508 | -€14,877 | -32.1% |
| Profit (loss) for the period | 9904 | €107,948 | €79,099 | -€28,849 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €107,948 | €79,099 | -€28,849 | -26.7% |
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 29 October 2026 via checked.be.