ONLY LAND: 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.
What changed
ONLY LAND
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €4.5m-€2.1m
Equity
€36.3m
2024 · €33.9m+€2.4m
Cash
€767,196
2024 · €140,797+€626,399
Balance sheet total
€118.1m
2024 · €123.4m-€5.3m
Largest movements
Assets
- Stocks and contracts -€7.8m
down €7.8m (-18.7%), from €42.0m to €34.2m
- Financial fixed assets +€1.7m
up €1.7m (+5.0%), from €33.5m to €35.2m
Equity and liabilities
- Debts after one year -€7.8m
down €7.8m (-10.5%), from €74.1m to €66.3m
- Profit (loss) carried forward +€2.0m
up €2.0m (+7.3%), from €26.8m to €28.7m
Income statement
- Goods and materials +€5.5m
up €5.5m (+187%), from €3.0m to €8.5m
of which Change in stocks: decrease (increase): +€15.0m
- Turnover +€2.9m
up €2.9m (+26.1%), from €11.1m to €14.0m
- Taxes -€601,223
down €601,223 (-39.4%), from €1.5m to €925,725
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
€4.5m
Turnover
+€2.9m
Other operating income
-€1,544
Goods and materials
-€5.5m
Services and other goods
+€33,505
Other operating charges
+€7,621
Financial income
-€56,132
Financial charges
-€39,366
Taxes
+€601,223
Result 2025
€2.4m
raises the resultlowers the result
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.
From operations
+€10.6m
Investment
-€1.7m
Financing
-€8.3m
Cash 2024
€140,797
From operations (derived)
+€10.6m
Net result for the year
+€2.4m
Stocks and contracts
+€7.8m
Receivables within one year
-€274,586
Deferred charges and accrued income
+€43,023
Trade debts
-€43,024
Tax, wage and social debts
+€825,725
Other debts
-€180,855
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
-€8.3m
Debts after one year
-€7.8m
Short-term financial debts
-€477,412
Cash 2025
€767,196
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,398,848 | €118,095,616 | -€5.3m | -4.3% |
| Fixed assets | 21/28 | €33,538,236 | €35,225,294 | +€1.7m | +5.0% |
| Financial fixed assets | 28 | €33,538,236 | €35,225,294 | +€1.7m | +5.0% |
| Affiliated companies | 280/1 | €33,538,236 | €35,225,294 | +€1.7m | +5.0% |
| Participating interests | 280 | €30,688,894 | €30,688,894 | = | 0.0% |
| Amounts receivable | 281 | €2,849,342 | €4,536,400 | +€1.7m | +59.2% |
| Current assets | 29/58 | €89,860,612 | €82,870,323 | -€7.0m | -7.8% |
| Stocks and contracts in progress | 3 | €42,031,814 | €34,183,563 | -€7.8m | -18.7% |
| Stocks | 30/36 | €42,031,814 | €34,183,563 | -€7.8m | -18.7% |
| Property held for sale | 35 | €42,031,814 | €34,183,563 | -€7.8m | -18.7% |
| Amounts receivable within one year | 40/41 | €47,624,978 | €47,899,564 | +€274,586 | +0.6% |
| Trade receivables | 40 | €494,452 | €494,452 | = | 0.0% |
| Other amounts receivable | 41 | €47,130,526 | €47,405,113 | +€274,586 | +0.6% |
| Cash at bank and in hand | 54/58 | €140,797 | €767,196 | +€626,399 | +445% |
| Deferred charges and accrued income | 490/1 | €63,023 | €20,000 | -€43,023 | -68.3% |
| Total equity and liabilities | 10/49 | €123,398,848 | €118,095,616 | -€5.3m | -4.3% |
| Equity | 10/15 | €33,869,361 | €36,253,218 | +€2.4m | +7.0% |
| Contributions | 10/11 | €5,100,000 | €5,100,000 | = | 0.0% |
| Capital | 10 | €5,100,000 | €5,100,000 | = | 0.0% |
| Issued capital | 100 | €5,100,000 | €5,100,000 | = | 0.0% |
| Reserves | 13 | €2,015,197 | €2,436,197 | +€421,000 | +20.9% |
| Non-distributable reserves | 130/1 | €510,000 | €510,000 | = | 0.0% |
| Legal reserve | 130 | €510,000 | €510,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,505,197 | €1,926,197 | +€421,000 | +28.0% |
| Profit (loss) carried forward | 14 | €26,754,164 | €28,717,021 | +€2.0m | +7.3% |
| Amounts payable | 17/49 | €89,529,487 | €81,842,398 | -€7.7m | -8.6% |
| Amounts payable after more than one year | 17 | €74,131,190 | €66,319,668 | -€7.8m | -10.5% |
| Financial debts | 170/4 | €74,131,190 | €66,319,668 | -€7.8m | -10.5% |
| Credit institutions | 173 | €47,908,462 | €38,644,903 | -€9.3m | -19.3% |
| Other loans | 174 | €26,222,728 | €27,674,765 | +€1.5m | +5.5% |
| Amounts payable within one year | 42/48 | €15,398,297 | €15,522,731 | +€124,434 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €2,000,000 | €2,000,000 | = | 0.0% |
| Financial debts | 43 | €477,412 | - | -€477,412 | |
| Credit institutions | 430/8 | €477,412 | - | -€477,412 | |
| Trade debts | 44 | €243,971 | €200,947 | -€43,024 | -17.6% |
| Suppliers | 440/4 | €243,971 | €200,947 | -€43,024 | -17.6% |
| Taxes, remuneration and social security | 45 | €693,154 | €1,518,880 | +€825,725 | +119% |
| Taxes | 450/3 | €693,154 | €1,518,880 | +€825,725 | +119% |
| Other amounts payable | 47/48 | €11,983,759 | €11,802,904 | -€180,855 | -1.5% |
| Operating income | 70/76A | €11,101,664 | €14,002,203 | +€2.9m | +26.1% |
| Turnover | 70 | €11,100,120 | €14,002,203 | +€2.9m | +26.1% |
| Other operating income | 74 | €1,544 | - | -€1,544 | |
| Operating charges | 60/66A | €3,624,546 | €9,123,985 | +€5.5m | +152% |
| Goods for resale, raw materials and consumables | 60 | €2,968,335 | €8,508,900 | +€5.5m | +187% |
| Purchases | 600/8 | €18,623,932 | €9,169,548 | -€9.5m | -50.8% |
| Change in stocks: decrease (increase) | 609 | -€15,655,597 | -€660,649 | +€15.0m | +95.8% |
| Services and other goods | 61 | €636,213 | €602,708 | -€33,505 | -5.3% |
| Other operating charges | 640/8 | €19,998 | €12,377 | -€7,621 | -38.1% |
| Operating profit (loss) | 9901 | €7,477,119 | €4,878,218 | -€2.6m | -34.8% |
| Financial income | 75/76B | €2,115,704 | €2,059,573 | -€56,132 | -2.7% |
| Recurring financial income | 75 | €2,115,704 | €2,059,573 | -€56,132 | -2.7% |
| Income from financial fixed assets | 750 | €378,943 | €95,769 | -€283,174 | -74.7% |
| Income from current assets | 751 | €1,633,785 | €1,924,773 | +€290,988 | +17.8% |
| Other financial income | 752/9 | €102,976 | €39,031 | -€63,946 | -62.1% |
| Financial charges | 65/66B | €3,588,843 | €3,628,209 | +€39,366 | +1.1% |
| Recurring financial charges | 65 | €3,588,843 | €3,628,209 | +€39,366 | +1.1% |
| Debt charges | 650 | €3,580,312 | €3,620,212 | +€39,899 | +1.1% |
| Other financial charges | 652/9 | €8,531 | €7,997 | -€533 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €6,003,980 | €3,309,582 | -€2.7m | -44.9% |
| Income taxes | 67/77 | €1,526,948 | €925,725 | -€601,223 | -39.4% |
| Taxes | 670/3 | €1,526,948 | €925,725 | -€601,223 | -39.4% |
| Profit (loss) for the period | 9904 | €4,477,032 | €2,383,857 | -€2.1m | -46.8% |
| Transfer to tax-exempt reserves | 689 | €999,997 | €421,000 | -€578,997 | -57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,477,035 | €1,962,857 | -€1.5m | -43.5% |
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 18 October 2026 via checked.be.