LANGERMAN: 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.
LANGERMAN
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-62.6%), from €1.7m to €646,514
of which Trade receivables: -€651,161
- Stocks and contracts +€894,538
up €894,538 (+20.6%), from €4.3m to €5.2m
- Cash -€88,748
down €88,748 (-82.0%), from €108,236 to €19,488
mainly Stocks and contracts (-€894,538) and Trade debts (-€478,645)
- Intangible fixed assets +€84,025
up €84,025 (+104%), from €80,497 to €164,522
- Trade debts -€478,645
down €478,645 (-26.3%), from €1.8m to €1.3m
- Profit (loss) carried forward +€80,937
up €80,937 (+35.9%), from €225,503 to €306,440
- Accrued charges and deferred income +€72,040
up €72,040 (+12.1%), from €594,491 to €666,531
- Gross operating margin +€773,934
up €773,934, from -€303,523 to €470,411
- Staff costs -€13,691
down €13,691 (-4.0%), from €340,702 to €327,011
- Financial income -€7,512
down €7,512 (-81.0%), from €9,278 to €1,766
- Financial charges +€6,359
up €6,359 (+48.0%), from €13,243 to €19,603
- Taxes -€4,709
down €4,709 (-35.3%), from €13,358 to €8,649
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 | €6,344,661 | €6,089,812 | -€254,848 | -4.0% |
| Fixed assets | 21/28 | €99,038 | €175,424 | +€76,385 | +77.1% |
| Intangible fixed assets | 21 | €80,497 | €164,522 | +€84,025 | +104% |
| Tangible fixed assets | 22/27 | €18,541 | €10,901 | -€7,640 | -41.2% |
| Plant, machinery and equipment | 23 | €5,560 | €3,526 | -€2,034 | -36.6% |
| Furniture and vehicles | 24 | €12,981 | €7,375 | -€5,606 | -43.2% |
| Current assets | 29/58 | €6,245,622 | €5,914,389 | -€331,234 | -5.3% |
| Stocks and contracts in progress | 3 | €4,340,625 | €5,235,163 | +€894,538 | +20.6% |
| Stocks | 30/36 | €4,340,625 | €5,235,163 | +€894,538 | +20.6% |
| Amounts receivable within one year | 40/41 | €1,727,355 | €646,514 | -€1.1m | -62.6% |
| Trade receivables | 40 | €890,240 | €239,079 | -€651,161 | -73.1% |
| Other amounts receivable | 41 | €837,115 | €407,435 | -€429,680 | -51.3% |
| Cash at bank and in hand | 54/58 | €108,236 | €19,488 | -€88,748 | -82.0% |
| Deferred charges and accrued income | 490/1 | €69,405 | €13,223 | -€56,182 | -80.9% |
| Total equity and liabilities | 10/49 | €6,344,661 | €6,089,812 | -€254,848 | -4.0% |
| Equity | 10/15 | €245,908 | €326,845 | +€80,937 | +32.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,503 | €306,440 | +€80,937 | +35.9% |
| Amounts payable | 17/49 | €6,098,753 | €5,762,967 | -€335,786 | -5.5% |
| Amounts payable after more than one year | 17 | €3,515,966 | €3,575,538 | +€59,572 | +1.7% |
| Financial debts | 170/4 | €3,515,966 | €3,575,538 | +€59,572 | +1.7% |
| Amounts payable within one year | 42/48 | €1,988,296 | €1,520,897 | -€467,398 | -23.5% |
| Trade debts | 44 | €1,820,426 | €1,341,781 | -€478,645 | -26.3% |
| Suppliers | 440/4 | €1,820,426 | €1,341,781 | -€478,645 | -26.3% |
| Taxes, remuneration and social security | 45 | €42,883 | €42,831 | -€52 | -0.1% |
| Taxes | 450/3 | €3,339 | €10,042 | +€6,703 | +201% |
| Remuneration and social security | 454/9 | €39,544 | €32,789 | -€6,755 | -17.1% |
| Other amounts payable | 47/48 | €124,987 | €136,286 | +€11,299 | +9.0% |
| Accrued charges and deferred income | 492/3 | €594,491 | €666,531 | +€72,040 | +12.1% |
| Remuneration, social security and pensions | 62 | €340,702 | €327,011 | -€13,691 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,094 | €32,224 | +€130 | +0.4% |
| Other operating charges | 640/8 | €3,438 | €3,752 | +€314 | +9.1% |
| Gross operating margin | 9900 | -€303,523 | €470,411 | +€773,934 | |
| Operating profit (loss) | 9901 | -€679,757 | €107,423 | +€787,181 | |
| Financial income | 75/76B | €9,278 | €1,766 | -€7,512 | -81.0% |
| Recurring financial income | 75 | €9,278 | €1,766 | -€7,512 | -81.0% |
| Financial charges | 65/66B | €13,243 | €19,603 | +€6,359 | +48.0% |
| Recurring financial charges | 65 | €13,243 | €19,603 | +€6,359 | +48.0% |
| Profit (loss) for the period before taxes | 9903 | -€683,723 | €89,587 | +€773,310 | |
| Income taxes | 67/77 | €13,358 | €8,649 | -€4,709 | -35.3% |
| Profit (loss) for the period | 9904 | -€697,081 | €80,937 | +€778,018 | |
| Profit (loss) for the period to be appropriated | 9905 | -€697,081 | €80,937 | +€778,018 |
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 14 October 2026 via checked.be.