LNDZ: 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.
LNDZ
Largest movements
- Tangible fixed assets -€220,488
down €220,488 (-15.6%), from €1.4m to €1.2m
of which Land and buildings: -€202,858
- Debts after one year -€112,704
down €112,704 (-10.4%), from €1.1m to €971,459
of which Financial debts: -€112,704
- Other debts -€54,331
down €54,331 (-57.0%), from €95,312 to €40,981
- Tax, wage and social debts -€32,273
down €32,273 (-99.1%), from €32,566 to €293
- Gross operating margin -€53,368
down €53,368 (-52.4%), from €101,776 to €48,408
- Depreciation -€50,300
down €50,300 (-50.9%), from €98,870 to €48,570
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 | €1,418,488 | €1,200,509 | -€217,978 | -15.4% |
| Fixed assets | 21/28 | €1,415,518 | €1,195,030 | -€220,488 | -15.6% |
| Tangible fixed assets | 22/27 | €1,415,518 | €1,195,030 | -€220,488 | -15.6% |
| Land and buildings | 22 | €1,369,511 | €1,166,653 | -€202,858 | -14.8% |
| Plant, machinery and equipment | 23 | €17,072 | €14,607 | -€2,465 | -14.4% |
| Furniture and vehicles | 24 | €28,935 | €13,770 | -€15,164 | -52.4% |
| Current assets | 29/58 | €2,970 | €5,479 | +€2,509 | +84.5% |
| Cash at bank and in hand | 54/58 | €1,985 | €5,166 | +€3,181 | +160.3% |
| Deferred charges and accrued income | 490/1 | €985 | €313 | -€672 | -68.2% |
| Total equity and liabilities | 10/49 | €1,418,488 | €1,200,509 | -€217,978 | -15.4% |
| Equity | 10/15 | €194,731 | €187,614 | -€7,117 | -3.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €174,802 | €174,802 | = | 0.0% |
| Distributable reserves | 133 | €174,802 | €174,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,071 | -€12,188 | -€7,117 | -140.3% |
| Amounts payable | 17/49 | €1,223,757 | €1,012,896 | -€210,861 | -17.2% |
| Amounts payable after more than one year | 17 | €1,084,162 | €971,459 | -€112,704 | -10.4% |
| Financial debts | 170/4 | €112,704 | - | -€112,704 | |
| Other amounts payable | 178/9 | €971,459 | €971,459 | = | 0.0% |
| Amounts payable within one year | 42/48 | €139,594 | €41,437 | -€98,157 | -70.3% |
| Current portion of amounts payable after more than one year | 42 | €9,367 | - | -€9,367 | |
| Trade debts | 44 | €2,350 | €163 | -€2,187 | -93.1% |
| Suppliers | 440/4 | €2,350 | €163 | -€2,187 | -93.1% |
| Taxes, remuneration and social security | 45 | €32,566 | €293 | -€32,273 | -99.1% |
| Taxes | 450/3 | €32,566 | €293 | -€32,273 | -99.1% |
| Other amounts payable | 47/48 | €95,312 | €40,981 | -€54,331 | -57.0% |
| Non-recurring operating income | 76A | - | €32,229 | +€32,229 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,870 | €48,570 | -€50,300 | -50.9% |
| Other operating charges | 640/8 | €6,007 | €5,687 | -€320 | -5.3% |
| Gross operating margin | 9900 | €101,776 | €48,408 | -€53,368 | -52.4% |
| Operating profit (loss) | 9901 | -€3,102 | -€5,850 | -€2,748 | -88.6% |
| Financial income | 75/76B | €1 | €26 | +€25 | +4228.3% |
| Recurring financial income | 75 | €1 | €26 | +€25 | +4228.3% |
| Financial charges | 65/66B | €1,734 | €1,366 | -€368 | -21.2% |
| Recurring financial charges | 65 | €1,734 | €1,366 | -€368 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,835 | -€7,190 | -€2,354 | -48.7% |
| Income taxes | 67/77 | €236 | -€72 | -€309 | |
| Profit (loss) for the period | 9904 | -€5,071 | -€7,117 | -€2,046 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,071 | -€7,117 | -€2,046 | -40.3% |
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 5 October 2026 via checked.be.