PDF 2 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.
PDF 2 Land
Largest movements
- Stocks and contracts +€14.1m
up €14.1m (+55.5%), from €25.4m to €39.6m
- Receivables after one year +€2.0m
new in 2025: €2.0m
- Debts after one year +€10.6m
up €10.6m (+58.4%), from €18.1m to €28.7m
of which Financial debts: +€17.2m
- Current portion of long-term debt +€4.0m
up €4.0m (+150%), from €2.6m to €6.6m
- Accrued charges and deferred income +€1.1m
up €1.1m (+84.9%), from €1.3m to €2.3m
- Contributions +€750,000
up €750,000 (+437%), from €171,500 to €921,500
- Purchases and services +€6.4m
up €6.4m (+8,841%), from €72,073 to €6.4m
- Financial charges +€15,785
up €15,785 (+1,193%), from €1,323 to €17,109
- Gross operating margin -€15,685
down €15,685 (-150%), from -€10,464 to -€26,148
- Other operating charges +€12,694
up €12,694 (+238%), from €5,338 to €18,033
- Financial income -€7,331
down €7,331 (-51.7%), from €14,174 to €6,843
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 | €25,687,127 | €41,677,147 | +€16.0m | +62.2% |
| Fixed assets | 21/28 | €65,610 | €60,000 | -€5,610 | -8.6% |
| Financial fixed assets | 28 | €65,610 | €60,000 | -€5,610 | -8.6% |
| Current assets | 29/58 | €25,621,517 | €41,617,147 | +€16.0m | +62.4% |
| Amounts receivable after more than one year | 29 | - | €2,000,000 | +€2.0m | |
| Other amounts receivable | 291 | - | €2,000,000 | +€2.0m | |
| Stocks and contracts in progress | 3 | €25,444,087 | €39,574,500 | +€14.1m | +55.5% |
| Stocks | 30/36 | €25,444,087 | €39,574,500 | +€14.1m | +55.5% |
| Amounts receivable within one year | 40/41 | €100,221 | €1,029 | -€99,192 | -99.0% |
| Trade receivables | 40 | €221 | €1,029 | +€808 | +365% |
| Other amounts receivable | 41 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €46,023 | €10,235 | -€35,788 | -77.8% |
| Deferred charges and accrued income | 490/1 | €31,185 | €31,383 | +€198 | +0.6% |
| Total equity and liabilities | 10/49 | €25,687,127 | €41,677,147 | +€16.0m | +62.2% |
| Equity | 10/15 | €69,519 | €468,789 | +€399,271 | +574% |
| Contributions | 10/11 | €171,500 | €921,500 | +€750,000 | +437% |
| Capital | 10 | €171,500 | €921,500 | +€750,000 | +437% |
| Issued capital | 100 | €171,500 | €921,500 | +€750,000 | +437% |
| Reserves | 13 | €850 | €850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €850 | €850 | = | 0.0% |
| Legal reserve | 130 | €850 | €850 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,831 | -€453,560 | -€350,729 | -341% |
| Amounts payable | 17/49 | €25,617,609 | €41,208,358 | +€15.6m | +60.9% |
| Amounts payable after more than one year | 17 | €18,089,524 | €28,651,058 | +€10.6m | +58.4% |
| Financial debts | 170/4 | €10,169,524 | €27,331,058 | +€17.2m | +169% |
| Other amounts payable | 178/9 | €7,920,000 | €1,320,000 | -€6.6m | -83.3% |
| Amounts payable within one year | 42/48 | €6,272,425 | €10,235,172 | +€4.0m | +63.2% |
| Current portion of amounts payable after more than one year | 42 | €2,640,000 | €6,600,000 | +€4.0m | +150% |
| Financial debts | 43 | €3,523,967 | €3,375,000 | -€148,967 | -4.2% |
| Credit institutions | 430/8 | €3,523,967 | €3,375,000 | -€148,967 | -4.2% |
| Trade debts | 44 | €106,858 | €258,572 | +€151,714 | +142% |
| Suppliers | 440/4 | €106,858 | €258,572 | +€151,714 | +142% |
| Other amounts payable | 47/48 | €1,600 | €1,600 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,255,659 | €2,322,127 | +€1.1m | +84.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €72,073 | €6,444,051 | +€6.4m | +8,841% |
| Other operating charges | 640/8 | €5,338 | €18,033 | +€12,694 | +238% |
| Gross operating margin | 9900 | -€10,464 | -€26,148 | -€15,685 | -150% |
| Operating profit (loss) | 9901 | -€15,802 | -€44,181 | -€28,379 | -180% |
| Financial income | 75/76B | €14,174 | €6,843 | -€7,331 | -51.7% |
| Recurring financial income | 75 | €14,174 | €6,843 | -€7,331 | -51.7% |
| Financial charges | 65/66B | €1,323 | €17,109 | +€15,785 | +1,193% |
| Recurring financial charges | 65 | €1,323 | €17,109 | +€15,785 | +1,193% |
| Profit (loss) for the period before taxes | 9903 | -€2,951 | -€54,447 | -€51,495 | -1,745% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,951 | -€54,447 | -€51,495 | -1,745% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,951 | -€54,447 | -€51,495 | -1,745% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.