PDF 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 LAND
Largest movements
- Stocks and contracts -€624,615
down €624,615 (-42.6%), from €1.5m to €841,595
- Receivables within one year +€242,816
up €242,816 (+19.0%), from €1.3m to €1.5m
of which Other amounts receivable: +€239,280
- Debts after one year +€554,715
up €554,715, from €0 to €554,715
- Other debts -€385,535
down €385,535 (-33.3%), from €1.2m to €773,880
- Short-term financial debts -€339,000
down €339,000 (-80.6%), from €420,350 to €81,350
- Trade debts -€255,293
down €255,293 (-79.6%), from €320,537 to €65,244
- Accrued charges and deferred income +€59,534
up €59,534 (+23.1%), from €257,638 to €317,172
- Gross operating margin +€307,743
up €307,743 (+147%), from €208,873 to €516,616
- Turnover +€294,687
up €294,687 (+35.0%), from €843,108 to €1.1m
- Taxes +€65,378
up €65,378 (+98.3%), from €66,535 to €131,913
- Financial income -€55,107
down €55,107 (-60.1%), from €91,722 to €36,615
- Purchases and services -€42,504
down €42,504 (-65.2%), from €65,158 to €22,655
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 | €2,946,812 | €2,575,949 | -€370,863 | -12.6% |
| Current assets | 29/58 | €2,946,812 | €2,575,949 | -€370,863 | -12.6% |
| Stocks and contracts in progress | 3 | €1,466,210 | €841,595 | -€624,615 | -42.6% |
| Stocks | 30/36 | €1,466,210 | €841,595 | -€624,615 | -42.6% |
| Amounts receivable within one year | 40/41 | €1,277,534 | €1,520,350 | +€242,816 | +19.0% |
| Trade receivables | 40 | €64,096 | €67,632 | +€3,537 | +5.5% |
| Other amounts receivable | 41 | €1,213,438 | €1,452,718 | +€239,280 | +19.7% |
| Cash at bank and in hand | 54/58 | €16,790 | €30,067 | +€13,276 | +79.1% |
| Deferred charges and accrued income | 490/1 | €186,278 | €183,938 | -€2,341 | -1.3% |
| Total equity and liabilities | 10/49 | €2,946,812 | €2,575,949 | -€370,863 | -12.6% |
| Equity | 10/15 | €788,572 | €783,468 | -€5,104 | -0.6% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €138,572 | €133,468 | -€5,104 | -3.7% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €38,572 | €33,468 | -€5,104 | -13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,158,240 | €1,792,481 | -€365,759 | -16.9% |
| Amounts payable after more than one year | 17 | €0 | €554,715 | +€554,715 | |
| Financial debts | 170/4 | €0 | €554,715 | +€554,715 | |
| Amounts payable within one year | 42/48 | €1,900,602 | €920,594 | -€980,008 | -51.6% |
| Financial debts | 43 | €420,350 | €81,350 | -€339,000 | -80.6% |
| Credit institutions | 430/8 | €420,350 | €81,350 | -€339,000 | -80.6% |
| Trade debts | 44 | €320,537 | €65,244 | -€255,293 | -79.6% |
| Suppliers | 440/4 | €320,537 | €65,244 | -€255,293 | -79.6% |
| Taxes, remuneration and social security | 45 | €300 | €120 | -€180 | -60.0% |
| Taxes | 450/3 | €300 | €120 | -€180 | -60.0% |
| Other amounts payable | 47/48 | €1,159,415 | €773,880 | -€385,535 | -33.3% |
| Accrued charges and deferred income | 492/3 | €257,638 | €317,172 | +€59,534 | +23.1% |
| Turnover | 70 | €843,108 | €1,137,796 | +€294,687 | +35.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €65,158 | €22,655 | -€42,504 | -65.2% |
| Other operating charges | 640/8 | €7,675 | €1,126 | -€6,549 | -85.3% |
| Gross operating margin | 9900 | €208,873 | €516,616 | +€307,743 | +147% |
| Operating profit (loss) | 9901 | €201,198 | €515,490 | +€314,292 | +156% |
| Financial income | 75/76B | €91,722 | €36,615 | -€55,107 | -60.1% |
| Recurring financial income | 75 | €91,722 | €36,615 | -€55,107 | -60.1% |
| Financial charges | 65/66B | €26,948 | €25,295 | -€1,653 | -6.1% |
| Recurring financial charges | 65 | €26,948 | €25,295 | -€1,653 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €265,972 | €526,809 | +€260,838 | +98.1% |
| Income taxes | 67/77 | €66,535 | €131,913 | +€65,378 | +98.3% |
| Profit (loss) for the period | 9904 | €199,436 | €394,896 | +€195,460 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €199,436 | €394,896 | +€195,460 | +98.0% |
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 22 October 2026 via checked.be.