WEST - 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.
WEST - LAND
Largest movements
- Tangible fixed assets +€171,580
up €171,580 (+62.5%), from €274,553 to €446,133
of which Land and buildings: +€174,193
- Receivables after one year -€90,000
down €90,000 (-51.4%), from €175,000 to €85,000
- Receivables within one year -€75,000
down €75,000 (-56.0%), from €134,000 to €59,000
of which Trade receivables: -€50,000
- Cash -€28,310
down €28,310 (-78.6%), from €36,035 to €7,725
mainly Investment in fixed assets (net) (-€185,000) and Net result for the year (-€17,549)
- Profit (loss) carried forward -€17,549
down €17,549 (-9.4%), from €186,281 to €168,732
- Debts after one year -€15,444
down €15,444 (-9.7%), from €159,896 to €144,451
- Current portion of long-term debt +€7,811
new in 2025: €7,811
- Gross operating margin -€22,612
down €22,612, from €20,713 to -€1,898
- Other operating charges -€1,035
down €1,035 (-81.5%), from €1,270 to €236
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 | €619,588 | €597,858 | -€21,730 | -3.5% |
| Fixed assets | 21/28 | €274,553 | €446,133 | +€171,580 | +62.5% |
| Tangible fixed assets | 22/27 | €274,553 | €446,133 | +€171,580 | +62.5% |
| Land and buildings | 22 | €253,944 | €428,136 | +€174,193 | +68.6% |
| Plant, machinery and equipment | 23 | €20,609 | €17,997 | -€2,612 | -12.7% |
| Current assets | 29/58 | €345,035 | €151,725 | -€193,310 | -56.0% |
| Amounts receivable after more than one year | 29 | €175,000 | €85,000 | -€90,000 | -51.4% |
| Other amounts receivable | 291 | €175,000 | €85,000 | -€90,000 | -51.4% |
| Amounts receivable within one year | 40/41 | €134,000 | €59,000 | -€75,000 | -56.0% |
| Trade receivables | 40 | €50,000 | - | -€50,000 | |
| Other amounts receivable | 41 | €84,000 | €59,000 | -€25,000 | -29.8% |
| Cash at bank and in hand | 54/58 | €36,035 | €7,725 | -€28,310 | -78.6% |
| Total equity and liabilities | 10/49 | €619,588 | €597,858 | -€21,730 | -3.5% |
| Equity | 10/15 | €456,251 | €438,703 | -€17,549 | -3.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €251,378 | €251,378 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,313 | €3,313 | = | 0.0% |
| Distributable reserves | 133 | €248,065 | €248,065 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,281 | €168,732 | -€17,549 | -9.4% |
| Amounts payable | 17/49 | €163,337 | €159,155 | -€4,181 | -2.6% |
| Amounts payable after more than one year | 17 | €159,896 | €144,451 | -€15,444 | -9.7% |
| Financial debts | 170/4 | €159,896 | €144,451 | -€15,444 | -9.7% |
| Amounts payable within one year | 42/48 | €3,441 | €14,704 | +€11,263 | +327% |
| Current portion of amounts payable after more than one year | 42 | - | €7,811 | +€7,811 | |
| Trade debts | 44 | - | €3,293 | +€3,293 | |
| Suppliers | 440/4 | - | €3,293 | +€3,293 | |
| Advances received on contracts in progress | 46 | €1,330 | - | -€1,330 | |
| Other amounts payable | 47/48 | €2,111 | €3,600 | +€1,489 | +70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,341 | €13,420 | +€78 | +0.6% |
| Other operating charges | 640/8 | €1,270 | €236 | -€1,035 | -81.5% |
| Gross operating margin | 9900 | €20,713 | -€1,898 | -€22,612 | |
| Operating profit (loss) | 9901 | €6,102 | -€15,553 | -€21,655 | |
| Financial income | 75/76B | €2,000 | €2,001 | +€1 | 0.0% |
| Recurring financial income | 75 | €2,000 | €2,001 | +€1 | 0.0% |
| Financial charges | 65/66B | €4,140 | €3,996 | -€144 | -3.5% |
| Recurring financial charges | 65 | €4,140 | €3,996 | -€144 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €3,962 | -€17,549 | -€21,511 | |
| Profit (loss) for the period | 9904 | €3,962 | -€17,549 | -€21,511 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,962 | -€17,549 | -€21,511 |
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 27 October 2026 via checked.be.