LANDWAERTS: 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.
LANDWAERTS
Largest movements
- Tangible fixed assets -€36,864
down €36,864 (-4.0%), from €920,433 to €883,569
of which Land and buildings: -€19,065
- Receivables within one year +€26,479
up €26,479 (+676%), from €3,919 to €30,398
of which Trade receivables: +€20,000
- Profit (loss) carried forward +€18,837
up €18,837 (+26.9%), from -€70,093 to -€51,255
- Trade debts -€18,577
down €18,577 (-90.0%), from €20,646 to €2,069
- Debts after one year -€17,819
down €17,819 (-2.6%), from €682,130 to €664,312
- Gross operating margin +€74,822
up €74,822 (+364%), from €20,535 to €95,357
- Other operating charges -€34,829
down €34,829 (-85.2%), from €40,878 to €6,049
- Financial charges +€15,558
up €15,558 (+55.2%), from €28,208 to €43,766
- Depreciation +€7,391
up €7,391 (+37.8%), from €19,567 to €26,957
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 | €932,987 | €917,157 | -€15,831 | -1.7% |
| Fixed assets | 21/28 | €920,433 | €883,569 | -€36,864 | -4.0% |
| Tangible fixed assets | 22/27 | €920,433 | €883,569 | -€36,864 | -4.0% |
| Land and buildings | 22 | €900,450 | €881,384 | -€19,065 | -2.1% |
| Plant, machinery and equipment | 23 | €19,984 | €2,185 | -€17,799 | -89.1% |
| Current assets | 29/58 | €12,554 | €33,588 | +€21,034 | +168% |
| Amounts receivable within one year | 40/41 | €3,919 | €30,398 | +€26,479 | +676% |
| Trade receivables | 40 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 41 | €3,919 | €10,398 | +€6,479 | +165% |
| Cash at bank and in hand | 54/58 | €3,456 | €686 | -€2,770 | -80.2% |
| Deferred charges and accrued income | 490/1 | €5,179 | €2,504 | -€2,675 | -51.7% |
| Total equity and liabilities | 10/49 | €932,987 | €917,157 | -€15,831 | -1.7% |
| Equity | 10/15 | €54,907 | €73,745 | +€18,837 | +34.3% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,093 | -€51,255 | +€18,837 | +26.9% |
| Amounts payable | 17/49 | €878,080 | €843,412 | -€34,668 | -3.9% |
| Amounts payable after more than one year | 17 | €682,130 | €664,312 | -€17,819 | -2.6% |
| Financial debts | 170/4 | €682,130 | €664,312 | -€17,819 | -2.6% |
| Amounts payable within one year | 42/48 | €195,950 | €174,215 | -€21,735 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €28,950 | €23,086 | -€5,864 | -20.3% |
| Trade debts | 44 | €20,646 | €2,069 | -€18,577 | -90.0% |
| Suppliers | 440/4 | €20,646 | €2,069 | -€18,577 | -90.0% |
| Taxes, remuneration and social security | 45 | €287 | €1,012 | +€726 | +253% |
| Taxes | 450/3 | €287 | €1,012 | +€726 | +253% |
| Other amounts payable | 47/48 | €146,067 | €148,047 | +€1,981 | +1.4% |
| Accrued charges and deferred income | 492/3 | - | €4,885 | +€4,885 | |
| Non-recurring operating income | 76A | - | €7,501 | +€7,501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,567 | €26,957 | +€7,391 | +37.8% |
| Other operating charges | 640/8 | €40,878 | €6,049 | -€34,829 | -85.2% |
| Gross operating margin | 9900 | €20,535 | €95,357 | +€74,822 | +364% |
| Operating profit (loss) | 9901 | -€39,910 | €62,351 | +€102,261 | |
| Financial income | 75/76B | €145 | €253 | +€108 | +74.2% |
| Recurring financial income | 75 | €145 | €253 | +€108 | +74.2% |
| Financial charges | 65/66B | €28,208 | €43,766 | +€15,558 | +55.2% |
| Recurring financial charges | 65 | €28,208 | €43,766 | +€15,558 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | -€67,973 | €18,837 | +€86,810 | |
| Income taxes | 67/77 | -€6 | - | +€6 | |
| Profit (loss) for the period | 9904 | -€67,967 | €18,837 | +€86,804 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,967 | €18,837 | +€86,804 |
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 30 October 2026 via checked.be.