LIANDUR: 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.
What changed
LIANDUR
NACE 46.831, Wholesale of construction materials, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€363,452
2024 · €151,104-€514,556
Equity
€6.3m
2024 · €5.4m+€854,810
Cash
€325,552
2024 · €769,139-€443,587
Balance sheet total
€24.0m
2024 · €22.7m+€1.3m
Largest movements
Assets
- Receivables within one year +€1.6m
up €1.6m (+63.3%), from €2.5m to €4.1m
of which Other amounts receivable: +€1.3m
- Cash -€443,587
down €443,587 (-57.7%), from €769,139 to €325,552
mainly Investment in fixed assets (net) (-€2.4m) and Other debts (-€1.6m)
- Financial fixed assets +€353,225
up €353,225 (+20.1%), from €1.8m to €2.1m
- Stocks and contracts -€341,287
down €341,287 (-7.0%), from €4.9m to €4.6m
Equity and liabilities
- Short-term financial debts +€1.7m
up €1.7m (+42.5%), from €4.0m to €5.7m
- Other debts -€1.6m
down €1.6m (-100.0%), from €1.6m to €0
- Investment grants +€1.2m
new in 2025: €1.2m
- Debts after one year +€485,713
up €485,713 (+8.1%), from €6.0m to €6.5m
- Profit (loss) carried forward -€363,452
down €363,452 (-18.4%), from -€2.0m to -€2.3m
Income statement
- Turnover +€24.8m
new in 2025: €24.8m
- Goods and materials +€15.8m
new in 2025: €15.8m
of which Purchases: +€14.2m
- Services and other goods +€6.4m
new in 2025: €6.4m
- Gross operating margin -€4.6m
no longer reported in 2025 (was €4.6m)
- Depreciation +€345,432
up €345,432 (+20.2%), from €1.7m to €2.1m
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.
Result 2024
€151,104
Turnover
+€24.8m
Other operating income
+€338,876
Goods and materials
-€15.8m
Services and other goods
-€6.4m
Staff costs
-€752
Depreciation
-€345,432
Write-downs
-€74,499
Other operating charges
+€176,187
Other operating items
-€3.2m
Financial income
+€142,314
Financial charges
-€77,726
Taxes
-€667
Result 2025
-€363,452
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.
From operations
-€1.4m
Investment
-€2.4m
Financing
+€3.4m
Cash 2024
€769,139
From operations (derived)
-€1.4m
Net result for the year
-€363,452
Depreciation
+€2.1m
Stocks and contracts
+€341,287
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€174,522
Trade debts
-€90,023
Tax, wage and social debts
-€858
Other debts
-€1.6m
Accrued charges and deferred income
+€26,292
Investment (derived)
-€2.4m
Investment in fixed assets (net)
-€2.4m
Financing
+€3.4m
Debts after one year
+€485,713
Current portion of long-term debt
-€42,756
Short-term financial debts
+€1.7m
Contributions, distributions and other
+€1.2m
Cash 2025
€325,552
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,662,218 | €23,995,385 | +€1.3m | +5.9% |
| Formation expenses | 20 | €201,971 | €128,796 | -€73,175 | -36.2% |
| Fixed assets | 21/28 | €14,271,101 | €14,696,638 | +€425,537 | +3.0% |
| Intangible fixed assets | 21 | €152,835 | €253,909 | +€101,074 | +66.1% |
| Tangible fixed assets | 22/27 | €12,364,817 | €12,336,056 | -€28,762 | -0.2% |
| Land and buildings | 22 | €3,088,952 | €3,303,232 | +€214,280 | +6.9% |
| Plant, machinery and equipment | 23 | €8,835,271 | €8,657,263 | -€178,008 | -2.0% |
| Furniture and vehicles | 24 | €305,005 | €375,561 | +€70,556 | +23.1% |
| Leasing and similar rights | 25 | €135,589 | €0 | -€135,589 | -100.0% |
| Financial fixed assets | 28 | €1,753,448 | €2,106,674 | +€353,225 | +20.1% |
| Affiliated companies | 280/1 | - | €2,106,674 | +€2.1m | |
| Participating interests | 280 | - | €1,447,178 | +€1.4m | |
| Amounts receivable | 281 | - | €659,496 | +€659,496 | |
| Current assets | 29/58 | €8,189,146 | €9,169,951 | +€980,805 | +12.0% |
| Stocks and contracts in progress | 3 | €4,907,393 | €4,566,106 | -€341,287 | -7.0% |
| Stocks | 30/36 | €4,907,393 | €4,566,106 | -€341,287 | -7.0% |
| Raw materials and consumables | 30/31 | - | €2,835,074 | +€2.8m | |
| Finished goods | 33 | - | €1,327,804 | +€1.3m | |
| Goods purchased for resale | 34 | - | €403,228 | +€403,228 | |
| Amounts receivable within one year | 40/41 | €2,512,614 | €4,103,771 | +€1.6m | +63.3% |
| Trade receivables | 40 | €2,319,500 | €2,655,009 | +€335,509 | +14.5% |
| Other amounts receivable | 41 | €193,114 | €1,448,762 | +€1.3m | +650.2% |
| Cash at bank and in hand | 54/58 | €769,139 | €325,552 | -€443,587 | -57.7% |
| Deferred charges and accrued income | 490/1 | - | €174,522 | +€174,522 | |
| Total equity and liabilities | 10/49 | €22,662,218 | €23,995,385 | +€1.3m | +5.9% |
| Equity | 10/15 | €5,429,887 | €6,284,697 | +€854,810 | +15.7% |
| Contributions | 10/11 | €7,400,000 | €7,400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,970,113 | -€2,333,566 | -€363,452 | -18.4% |
| Investment grants | 15 | - | €1,218,263 | +€1.2m | |
| Amounts payable | 17/49 | €17,232,331 | €17,710,688 | +€478,357 | +2.8% |
| Amounts payable after more than one year | 17 | €5,978,567 | €6,464,280 | +€485,713 | +8.1% |
| Financial debts | 170/4 | €5,978,567 | €6,464,280 | +€485,713 | +8.1% |
| Subordinated loans | 170 | - | €1,600,000 | +€1.6m | |
| Credit institutions | 173 | - | €4,864,280 | +€4.9m | |
| Amounts payable within one year | 42/48 | €11,221,803 | €11,188,154 | -€33,649 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €1,157,043 | €1,114,287 | -€42,756 | -3.7% |
| Financial debts | 43 | €4,000,000 | €5,700,000 | +€1.7m | +42.5% |
| Credit institutions | 430/8 | €4,000,000 | €5,700,000 | +€1.7m | +42.5% |
| Trade debts | 44 | €3,958,869 | €3,868,846 | -€90,023 | -2.3% |
| Suppliers | 440/4 | €3,958,869 | €3,868,846 | -€90,023 | -2.3% |
| Taxes, remuneration and social security | 45 | €505,879 | €505,021 | -€858 | -0.2% |
| Taxes | 450/3 | €281,139 | €174,917 | -€106,222 | -37.8% |
| Remuneration and social security | 454/9 | €224,740 | €330,104 | +€105,364 | +46.9% |
| Other amounts payable | 47/48 | €1,600,012 | €0 | -€1.6m | -100.0% |
| Accrued charges and deferred income | 492/3 | €31,962 | €58,254 | +€26,292 | +82.3% |
| Operating income | 70/76A | - | €26,506,577 | +€26.5m | |
| Turnover | 70 | - | €24,822,552 | +€24.8m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €1,327,804 | +€1.3m | |
| Other operating income | 74 | - | €338,876 | +€338,876 | |
| Non-recurring operating income | 76A | €7,820 | €17,345 | +€9,525 | +121.8% |
| Operating charges | 60/66A | - | €26,496,319 | +€26.5m | |
| Goods for resale, raw materials and consumables | 60 | - | €15,829,905 | +€15.8m | |
| Purchases | 600/8 | - | €14,160,815 | +€14.2m | |
| Change in stocks: decrease (increase) | 609 | - | €1,669,090 | +€1.7m | |
| Services and other goods | 61 | - | €6,449,388 | +€6.4m | |
| Remuneration, social security and pensions | 62 | €1,862,316 | €1,863,068 | +€752 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,707,574 | €2,053,006 | +€345,432 | +20.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €74,499 | +€74,499 | |
| Other operating charges | 640/8 | €402,640 | €226,452 | -€176,187 | -43.8% |
| Gross operating margin | 9900 | €4,561,264 | - | -€4.6m | |
| Operating profit (loss) | 9901 | €588,734 | €10,258 | -€578,476 | -98.3% |
| Financial income | 75/76B | €475 | €142,788 | +€142,314 | +29990.5% |
| Recurring financial income | 75 | €475 | €142,788 | +€142,314 | +29990.5% |
| Income from current assets | 751 | - | €70 | +€70 | |
| Other financial income | 752/9 | - | €142,718 | +€142,718 | |
| Financial charges | 65/66B | €436,053 | €513,779 | +€77,726 | +17.8% |
| Recurring financial charges | 65 | €436,053 | €513,779 | +€77,726 | +17.8% |
| Debt charges | 650 | - | €429,694 | +€429,694 | |
| Other financial charges | 652/9 | - | €84,085 | +€84,085 | |
| Profit (loss) for the period before taxes | 9903 | €153,156 | -€360,733 | -€513,889 | |
| Income taxes | 67/77 | €2,052 | €2,719 | +€667 | +32.5% |
| Taxes | 670/3 | - | €2,719 | +€2,719 | |
| Profit (loss) for the period | 9904 | €151,104 | -€363,452 | -€514,556 | |
| Profit (loss) for the period to be appropriated | 9905 | €151,104 | -€363,452 | -€514,556 |
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 4 October 2026 via checked.be.