'T LANDERHUYS: 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.
'T LANDERHUYS
Largest movements
- Cash -€43,090
down €43,090 (-73.8%), from €58,395 to €15,305
mainly Investment in fixed assets (net) (-€69,538) and Receivables within one year (-€32,618)
- Receivables within one year +€32,618
up €32,618 (+17.5%), from €185,950 to €218,568
of which Other amounts receivable: +€28,746
- Tangible fixed assets +€27,676
up €27,676 (+28.4%), from €97,346 to €125,021
of which Leasing and similar rights: +€38,165
- Deferred charges and accrued income +€4,235
up €4,235 (+49.6%), from €8,533 to €12,769
- Trade debts +€18,960
up €18,960 (+33.1%), from €57,358 to €76,318
- Current portion of long-term debt -€14,464
down €14,464 (-45.1%), from €32,102 to €17,637
- Reserves +€13,058
up €13,058 (+8.7%), from €150,260 to €163,318
of which Distributable reserves: +€13,058
- Advances received +€11,261
new in 2025: €11,261
- Tax, wage and social debts -€8,742
down €8,742 (-14.4%), from €60,757 to €52,015
of which Taxes: -€7,894
- Depreciation -€32,467
down €32,467 (-43.7%), from €74,329 to €41,862
- Financial charges +€14,728
up €14,728 (+342%), from €4,304 to €19,032
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 | €390,394 | €415,292 | +€24,899 | +6.4% |
| Fixed assets | 21/28 | €98,316 | €125,991 | +€27,676 | +28.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €97,346 | €125,021 | +€27,676 | +28.4% |
| Plant, machinery and equipment | 23 | €13,244 | €10,670 | -€2,574 | -19.4% |
| Furniture and vehicles | 24 | €15,777 | €13,084 | -€2,693 | -17.1% |
| Leasing and similar rights | 25 | €40,389 | €78,554 | +€38,165 | +94.5% |
| Other tangible fixed assets | 26 | €27,936 | €22,713 | -€5,223 | -18.7% |
| Financial fixed assets | 28 | €970 | €970 | = | 0.0% |
| Current assets | 29/58 | €292,078 | €289,301 | -€2,777 | -1.0% |
| Stocks and contracts in progress | 3 | €39,200 | €42,658 | +€3,458 | +8.8% |
| Stocks | 30/36 | €39,200 | €42,658 | +€3,458 | +8.8% |
| Amounts receivable within one year | 40/41 | €185,950 | €218,568 | +€32,618 | +17.5% |
| Trade receivables | 40 | €2,107 | €5,979 | +€3,872 | +184% |
| Other amounts receivable | 41 | €183,843 | €212,589 | +€28,746 | +15.6% |
| Cash at bank and in hand | 54/58 | €58,395 | €15,305 | -€43,090 | -73.8% |
| Deferred charges and accrued income | 490/1 | €8,533 | €12,769 | +€4,235 | +49.6% |
| Total equity and liabilities | 10/49 | €390,394 | €415,292 | +€24,899 | +6.4% |
| Equity | 10/15 | €168,860 | €181,918 | +€13,058 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €150,260 | €163,318 | +€13,058 | +8.7% |
| Non-distributable reserves | 130/1 | €64 | €64 | = | 0.0% |
| Reserves not available under the articles | 1311 | €64 | €64 | = | 0.0% |
| Distributable reserves | 133 | €150,196 | €163,254 | +€13,058 | +8.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €221,534 | €233,375 | +€11,841 | +5.3% |
| Amounts payable after more than one year | 17 | €62,141 | €60,962 | -€1,179 | -1.9% |
| Financial debts | 170/4 | €5,941 | €47,769 | +€41,828 | +704% |
| Other amounts payable | 178/9 | €56,199 | €13,193 | -€43,007 | -76.5% |
| Amounts payable within one year | 42/48 | €159,393 | €172,413 | +€13,019 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €32,102 | €17,637 | -€14,464 | -45.1% |
| Financial debts | 43 | €9,113 | €15,181 | +€6,069 | +66.6% |
| Credit institutions | 430/8 | €9,113 | €15,181 | +€6,069 | +66.6% |
| Trade debts | 44 | €57,358 | €76,318 | +€18,960 | +33.1% |
| Suppliers | 440/4 | €57,358 | €76,318 | +€18,960 | +33.1% |
| Advances received on contracts in progress | 46 | - | €11,261 | +€11,261 | |
| Taxes, remuneration and social security | 45 | €60,757 | €52,015 | -€8,742 | -14.4% |
| Taxes | 450/3 | €16,532 | €8,638 | -€7,894 | -47.7% |
| Remuneration and social security | 454/9 | €44,225 | €43,377 | -€848 | -1.9% |
| Other amounts payable | 47/48 | €64 | €0 | -€64 | -100% |
| Remuneration, social security and pensions | 62 | €492,053 | €496,889 | +€4,836 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,329 | €41,862 | -€32,467 | -43.7% |
| Other operating charges | 640/8 | €3,360 | €3,262 | -€98 | -2.9% |
| Gross operating margin | 9900 | €565,843 | €565,869 | +€26 | 0.0% |
| Operating profit (loss) | 9901 | -€3,898 | €23,856 | +€27,755 | |
| Financial income | 75/76B | €9,224 | €10,129 | +€904 | +9.8% |
| Recurring financial income | 75 | €9,224 | €10,129 | +€904 | +9.8% |
| Financial charges | 65/66B | €4,304 | €19,032 | +€14,728 | +342% |
| Recurring financial charges | 65 | €4,304 | €19,032 | +€14,728 | +342% |
| Profit (loss) for the period before taxes | 9903 | €1,022 | €14,953 | +€13,931 | +1,363% |
| Income taxes | 67/77 | €520 | €1,895 | +€1,375 | +264% |
| Profit (loss) for the period | 9904 | €502 | €13,058 | +€12,556 | +2,502% |
| Profit (loss) for the period to be appropriated | 9905 | €502 | €13,058 | +€12,556 | +2,502% |
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 29 October 2026 via checked.be.