Landscapes: 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.
Landscapes
Largest movements
- Receivables within one year -€106,549
down €106,549 (-91.3%), from €116,662 to €10,114
of which Trade receivables: -€107,749
- Cash +€86,600
up €86,600 (+1037.5%), from €8,347 to €94,947
mainly Receivables within one year (+€106,549) and Other debts (+€6,211)
- Deferred charges and accrued income -€1,303
no longer reported in 2025 (was €1,303)
- Reserves -€20,970
down €20,970 (-19.3%), from €108,881 to €87,911
- Other debts +€6,211
up €6,211 (+6410.3%), from €97 to €6,308
- Trade debts -€4,306
down €4,306 (-44.4%), from €9,696 to €5,390
- Tax, wage and social debts -€1,669
down €1,669 (-19.7%), from €8,479 to €6,810
- Gross operating margin -€110,118
down €110,118 (-98.0%), from €112,406 to €2,288
- Taxes -€22,827
down €22,827 (-92.7%), from €24,625 to €1,798
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 | €129,152 | €108,419 | -€20,734 | -16.1% |
| Fixed assets | 21/28 | €2,840 | €3,357 | +€518 | +18.2% |
| Tangible fixed assets | 22/27 | €2,840 | €3,357 | +€518 | +18.2% |
| Plant, machinery and equipment | 23 | €2,840 | €3,357 | +€518 | +18.2% |
| Current assets | 29/58 | €126,313 | €105,061 | -€21,251 | -16.8% |
| Amounts receivable within one year | 40/41 | €116,662 | €10,114 | -€106,549 | -91.3% |
| Trade receivables | 40 | €116,662 | €8,914 | -€107,749 | -92.4% |
| Other amounts receivable | 41 | - | €1,200 | +€1,200 | |
| Cash at bank and in hand | 54/58 | €8,347 | €94,947 | +€86,600 | +1037.5% |
| Deferred charges and accrued income | 490/1 | €1,303 | - | -€1,303 | |
| Total equity and liabilities | 10/49 | €129,152 | €108,419 | -€20,734 | -16.1% |
| Equity | 10/15 | €110,881 | €89,911 | -€20,970 | -18.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €108,881 | €87,911 | -€20,970 | -19.3% |
| Distributable reserves | 133 | €108,881 | €87,911 | -€20,970 | -19.3% |
| Amounts payable | 17/49 | €18,271 | €18,508 | +€236 | +1.3% |
| Amounts payable within one year | 42/48 | €18,271 | €18,508 | +€236 | +1.3% |
| Trade debts | 44 | €9,696 | €5,390 | -€4,306 | -44.4% |
| Suppliers | 440/4 | €9,696 | €5,390 | -€4,306 | -44.4% |
| Taxes, remuneration and social security | 45 | €8,479 | €6,810 | -€1,669 | -19.7% |
| Taxes | 450/3 | €8,479 | €6,810 | -€1,669 | -19.7% |
| Other amounts payable | 47/48 | €97 | €6,308 | +€6,211 | +6410.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131 | €625 | +€494 | +378.5% |
| Other operating charges | 640/8 | €655 | €667 | +€12 | +1.8% |
| Gross operating margin | 9900 | €112,406 | €2,288 | -€110,118 | -98.0% |
| Operating profit (loss) | 9901 | €111,620 | €996 | -€110,624 | -99.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €197 | €168 | -€29 | -14.6% |
| Recurring financial charges | 65 | €197 | €168 | -€29 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €111,424 | €828 | -€110,596 | -99.3% |
| Income taxes | 67/77 | €24,625 | €1,798 | -€22,827 | -92.7% |
| Profit (loss) for the period | 9904 | €86,799 | -€970 | -€87,769 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,799 | -€970 | -€87,769 |
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 11 October 2026 via checked.be.