Selected Land: 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.
Selected Land
Largest movements
- Receivables within one year +€662,198
up €662,198 (+53.3%), from €1.2m to €1.9m
of which Other amounts receivable: +€1.1m
- Stocks and contracts -€625,539
down €625,539 (-3.6%), from €17.5m to €16.8m
- Deferred charges and accrued income +€380,683
up €380,683 (+179.8%), from €211,695 to €592,378
- Profit (loss) carried forward -€2.3m
down €2.3m (-298.1%), from -€761,776 to -€3.0m
- Other debts +€2.2m
up €2.2m (+1190.2%), from €184,000 to €2.4m
- Short-term financial debts +€842,896
up €842,896 (+7.5%), from €11.3m to €12.2m
of which Credit institutions: +€511,896
- Trade debts -€377,699
down €377,699 (-88.5%), from €426,645 to €48,946
- Debts after one year -€223,110
down €223,110 (-3.5%), from €6.4m to €6.2m
- Financial charges +€1.6m
up €1.6m (+259.0%), from €628,703 to €2.3m
- Financial income +€91,186
new in 2025: €91,186
- Other operating charges +€45,947
up €45,947 (+174.4%), from €26,351 to €72,297
- Gross operating margin +€43,310
up €43,310 (+57.4%), from -€75,499 to -€32,189
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,014,155 | €19,384,839 | +€370,684 | +1.9% |
| Fixed assets | 21/28 | €40,000 | €40,000 | = | 0.0% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €18,974,155 | €19,344,839 | +€370,684 | +2.0% |
| Stocks and contracts in progress | 3 | €17,468,375 | €16,842,836 | -€625,539 | -3.6% |
| Stocks | 30/36 | €17,468,375 | €16,842,836 | -€625,539 | -3.6% |
| Amounts receivable within one year | 40/41 | €1,243,500 | €1,905,698 | +€662,198 | +53.3% |
| Trade receivables | 40 | €423,500 | €0 | -€423,500 | -100.0% |
| Other amounts receivable | 41 | €820,000 | €1,905,698 | +€1.1m | +132.4% |
| Cash at bank and in hand | 54/58 | €50,585 | €3,927 | -€46,658 | -92.2% |
| Deferred charges and accrued income | 490/1 | €211,695 | €592,378 | +€380,683 | +179.8% |
| Total equity and liabilities | 10/49 | €19,014,155 | €19,384,839 | +€370,684 | +1.9% |
| Equity | 10/15 | €482,572 | -€1,787,949 | -€2.3m | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,194,348 | €1,194,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€761,776 | -€3,032,296 | -€2.3m | -298.1% |
| Amounts payable | 17/49 | €18,531,584 | €21,172,788 | +€2.6m | +14.3% |
| Amounts payable after more than one year | 17 | €6,378,373 | €6,155,263 | -€223,110 | -3.5% |
| Financial debts | 170/4 | €6,378,373 | €6,155,263 | -€223,110 | -3.5% |
| Amounts payable within one year | 42/48 | €11,924,157 | €14,578,626 | +€2.7m | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €338 | €0 | -€338 | -100.0% |
| Financial debts | 43 | €11,312,784 | €12,155,680 | +€842,896 | +7.5% |
| Credit institutions | 430/8 | €10,926,166 | €11,438,062 | +€511,896 | +4.7% |
| Other loans | 439 | €386,618 | €717,618 | +€331,000 | +85.6% |
| Trade debts | 44 | €426,645 | €48,946 | -€377,699 | -88.5% |
| Suppliers | 440/4 | €426,645 | €48,946 | -€377,699 | -88.5% |
| Taxes, remuneration and social security | 45 | €390 | €0 | -€390 | -100.0% |
| Taxes | 450/3 | €390 | €0 | -€390 | -100.0% |
| Other amounts payable | 47/48 | €184,000 | €2,374,000 | +€2.2m | +1190.2% |
| Accrued charges and deferred income | 492/3 | €229,054 | €438,900 | +€209,846 | +91.6% |
| Other operating charges | 640/8 | €26,351 | €72,297 | +€45,947 | +174.4% |
| Gross operating margin | 9900 | -€75,499 | -€32,189 | +€43,310 | +57.4% |
| Operating profit (loss) | 9901 | -€101,849 | -€104,486 | -€2,637 | -2.6% |
| Financial income | 75/76B | - | €91,186 | +€91,186 | |
| Recurring financial income | 75 | - | €91,186 | +€91,186 | |
| Financial charges | 65/66B | €628,703 | €2,257,219 | +€1.6m | +259.0% |
| Recurring financial charges | 65 | €628,703 | €2,257,219 | +€1.6m | +259.0% |
| Profit (loss) for the period before taxes | 9903 | -€730,552 | -€2,270,520 | -€1.5m | -210.8% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€730,552 | -€2,270,521 | -€1.5m | -210.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€730,552 | -€2,270,521 | -€1.5m | -210.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.