LANDT: 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.
LANDT
Largest movements
- Cash +€358,990
up €358,990 (+98.3%), from €365,123 to €724,114
mainly Debts after one year (+€1.2m) and Stocks and contracts (+€279,893)
- Financial fixed assets +€300,000
up €300,000 (+17391.3%), from €1,725 to €301,725
- Stocks and contracts -€279,893
down €279,893 (-11.4%), from €2.5m to €2.2m
- Receivables within one year +€158,278
up €158,278 (+223.0%), from €70,966 to €229,244
of which Trade receivables: +€109,800
- Receivables after one year +€48,573
up €48,573 (+400.9%), from €12,117 to €60,690
- Debts after one year +€1.2m
up €1.2m (+109.3%), from €1.1m to €2.3m
of which Financial debts: +€848,351
- Short-term financial debts -€653,191
down €653,191 (-52.0%), from €1.3m to €603,107
- Reserves +€188,957
up €188,957 (+100.3%), from €188,418 to €377,375
- Other debts -€150,175
down €150,175 (-100.0%), from €150,175 to €0
- Current portion of long-term debt +€71,547
up €71,547 (+158.8%), from €45,060 to €116,607
- Gross operating margin +€202,812
up €202,812 (+89.1%), from €227,718 to €430,530
- Financial charges +€55,097
up €55,097 (+54.4%), from €101,333 to €156,429
- Taxes +€41,499
up €41,499 (+125.5%), from €33,077 to €74,576
- Other operating charges +€10,023
up €10,023 (+225.9%), from €4,438 to €14,460
- Financial income +€5,674
up €5,674 (+430.3%), from €1,319 to €6,993
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,916,033 | €3,534,395 | +€618,362 | +21.2% |
| Fixed assets | 21/28 | €4,858 | €334,790 | +€329,932 | +6791.9% |
| Tangible fixed assets | 22/27 | €3,133 | €33,065 | +€29,932 | +955.5% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,133 | €1,443 | -€1,690 | -54.0% |
| Other tangible fixed assets | 26 | - | €31,622 | +€31,622 | |
| Financial fixed assets | 28 | €1,725 | €301,725 | +€300,000 | +17391.3% |
| Current assets | 29/58 | €2,911,176 | €3,199,606 | +€288,430 | +9.9% |
| Amounts receivable after more than one year | 29 | €12,117 | €60,690 | +€48,573 | +400.9% |
| Other amounts receivable | 291 | €12,117 | €60,690 | +€48,573 | +400.9% |
| Stocks and contracts in progress | 3 | €2,462,969 | €2,183,076 | -€279,893 | -11.4% |
| Stocks | 30/36 | €2,462,969 | €2,183,076 | -€279,893 | -11.4% |
| Amounts receivable within one year | 40/41 | €70,966 | €229,244 | +€158,278 | +223.0% |
| Trade receivables | 40 | €34,081 | €143,881 | +€109,800 | +322.2% |
| Other amounts receivable | 41 | €36,886 | €85,364 | +€48,478 | +131.4% |
| Cash at bank and in hand | 54/58 | €365,123 | €724,114 | +€358,990 | +98.3% |
| Deferred charges and accrued income | 490/1 | €0 | €2,481 | +€2,481 | |
| Total equity and liabilities | 10/49 | €2,916,033 | €3,534,395 | +€618,362 | +21.2% |
| Equity | 10/15 | €207,018 | €395,975 | +€188,957 | +91.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,418 | €377,375 | +€188,957 | +100.3% |
| Distributable reserves | 133 | €188,418 | €377,375 | +€188,957 | +100.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,709,016 | €3,138,421 | +€429,405 | +15.9% |
| Amounts payable after more than one year | 17 | €1,088,045 | €2,277,111 | +€1.2m | +109.3% |
| Financial debts | 170/4 | €915,412 | €1,763,763 | +€848,351 | +92.7% |
| Other amounts payable | 178/9 | €172,633 | €513,348 | +€340,715 | +197.4% |
| Amounts payable within one year | 42/48 | €1,605,868 | €834,574 | -€771,295 | -48.0% |
| Current portion of amounts payable after more than one year | 42 | €45,060 | €116,607 | +€71,547 | +158.8% |
| Financial debts | 43 | €1,256,298 | €603,107 | -€653,191 | -52.0% |
| Credit institutions | 430/8 | €1,256,298 | €603,107 | -€653,191 | -52.0% |
| Trade debts | 44 | €129,110 | €111,961 | -€17,149 | -13.3% |
| Suppliers | 440/4 | €129,110 | €111,961 | -€17,149 | -13.3% |
| Taxes, remuneration and social security | 45 | €25,226 | €2,899 | -€22,327 | -88.5% |
| Taxes | 450/3 | €25,226 | €0 | -€25,226 | -100.0% |
| Remuneration and social security | 454/9 | - | €2,899 | +€2,899 | |
| Other amounts payable | 47/48 | €150,175 | €0 | -€150,175 | -100.0% |
| Accrued charges and deferred income | 492/3 | €15,102 | €26,736 | +€11,634 | +77.0% |
| Remuneration, social security and pensions | 62 | €250 | €2,552 | +€2,302 | +920.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €930 | €549 | -€381 | -41.0% |
| Other operating charges | 640/8 | €4,438 | €14,460 | +€10,023 | +225.9% |
| Gross operating margin | 9900 | €227,718 | €430,530 | +€202,812 | +89.1% |
| Operating profit (loss) | 9901 | €222,101 | €412,969 | +€190,868 | +85.9% |
| Financial income | 75/76B | €1,319 | €6,993 | +€5,674 | +430.3% |
| Recurring financial income | 75 | €1,319 | €6,993 | +€5,674 | +430.3% |
| Financial charges | 65/66B | €101,333 | €156,429 | +€55,097 | +54.4% |
| Recurring financial charges | 65 | €101,333 | €156,429 | +€55,097 | +54.4% |
| Profit (loss) for the period before taxes | 9903 | €122,087 | €263,533 | +€141,446 | +115.9% |
| Income taxes | 67/77 | €33,077 | €74,576 | +€41,499 | +125.5% |
| Profit (loss) for the period | 9904 | €89,010 | €188,957 | +€99,947 | +112.3% |
| Profit (loss) for the period to be appropriated | 9905 | €89,010 | €188,957 | +€99,947 | +112.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.