LANDVAST: 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.
LANDVAST
Largest movements
- Tangible fixed assets -€73,377
down €73,377 (-9.5%), from €773,601 to €700,224
- Cash +€30,801
up €30,801 (+45.5%), from €67,724 to €98,525
mainly Depreciation (+€88,842) and Net result for the year (+€20,315)
- Debts after one year -€68,893
down €68,893 (-31.3%), from €220,347 to €151,454
- Reserves +€20,315
up €20,315 (+21.9%), from €92,841 to €113,156
of which Distributable reserves: +€20,315
- Gross operating margin +€12,809
up €12,809 (+10.3%), from €124,309 to €137,118
- Taxes +€3,144
up €3,144 (+45.7%), from €6,873 to €10,017
- Financial charges -€1,561
down €1,561 (-22.1%), from €7,058 to €5,497
- Depreciation +€1,546
up €1,546 (+1.8%), from €87,296 to €88,842
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 | €841,325 | €798,749 | -€42,576 | -5.1% |
| Fixed assets | 21/28 | €773,601 | €700,224 | -€73,377 | -9.5% |
| Tangible fixed assets | 22/27 | €773,601 | €700,224 | -€73,377 | -9.5% |
| Land and buildings | 22 | €773,601 | €700,224 | -€73,377 | -9.5% |
| Current assets | 29/58 | €67,724 | €98,525 | +€30,801 | +45.5% |
| Cash at bank and in hand | 54/58 | €67,724 | €98,525 | +€30,801 | +45.5% |
| Total equity and liabilities | 10/49 | €841,325 | €798,749 | -€42,576 | -5.1% |
| Equity | 10/15 | €373,406 | €393,721 | +€20,315 | +5.4% |
| Contributions | 10/11 | €280,565 | €280,565 | -€0 | 0.0% |
| Capital | 10 | €280,565 | €280,565 | -€0 | 0.0% |
| Issued capital | 100 | €280,565 | €280,565 | -€0 | 0.0% |
| Reserves | 13 | €92,841 | €113,156 | +€20,315 | +21.9% |
| Non-distributable reserves | 130/1 | €20,065 | €20,065 | -€0 | 0.0% |
| Legal reserve | 130 | €20,065 | €20,065 | -€0 | 0.0% |
| Distributable reserves | 133 | €72,776 | €93,091 | +€20,315 | +27.9% |
| Amounts payable | 17/49 | €467,919 | €405,028 | -€62,891 | -13.4% |
| Amounts payable after more than one year | 17 | €220,347 | €151,454 | -€68,893 | -31.3% |
| Financial debts | 170/4 | €220,347 | €151,454 | -€68,893 | -31.3% |
| Amounts payable within one year | 42/48 | €243,745 | €249,377 | +€5,632 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €67,276 | €68,894 | +€1,618 | +2.4% |
| Advances received on contracts in progress | 46 | €140 | €140 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,572 | €9,614 | +€4,042 | +72.5% |
| Taxes | 450/3 | €5,572 | €9,614 | +€4,042 | +72.5% |
| Other amounts payable | 47/48 | €170,757 | €170,729 | -€28 | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,826 | €4,197 | +€371 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,296 | €88,842 | +€1,546 | +1.8% |
| Other operating charges | 640/8 | €12,071 | €12,447 | +€376 | +3.1% |
| Gross operating margin | 9900 | €124,309 | €137,118 | +€12,809 | +10.3% |
| Operating profit (loss) | 9901 | €24,942 | €35,829 | +€10,887 | +43.6% |
| Financial charges | 65/66B | €7,058 | €5,497 | -€1,561 | -22.1% |
| Recurring financial charges | 65 | €7,058 | €5,497 | -€1,561 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €17,884 | €30,332 | +€12,448 | +69.6% |
| Income taxes | 67/77 | €6,873 | €10,017 | +€3,144 | +45.7% |
| Profit (loss) for the period | 9904 | €11,011 | €20,315 | +€9,304 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,011 | €20,315 | +€9,304 | +84.5% |
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 8 October 2026 via checked.be.