A+ Law: 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.
A+ Law
Largest movements
- Cash +€166,934
up €166,934 (+125.0%), from €133,559 to €300,492
mainly Net result for the year (+€117,914) and Current investments (+€18,133)
- Current investments -€18,133
down €18,133 (-61.7%), from €29,365 to €11,233
- Tangible fixed assets -€12,257
down €12,257 (-21.3%), from €57,466 to €45,210
- Reserves +€90,773
up €90,773 (+124.4%), from €72,968 to €163,741
- Profit (loss) carried forward +€27,141
up €27,141 (+29.9%), from €90,773 to €117,914
- Tax, wage and social debts +€16,452
up €16,452 (+30.5%), from €53,899 to €70,351
of which Taxes: +€14,226
- Gross operating margin +€43,136
up €43,136 (+36.1%), from €119,621 to €162,757
- Depreciation +€8,440
up €8,440 (+221.1%), from €3,817 to €12,257
- Taxes +€8,169
up €8,169 (+31.8%), from €25,680 to €33,849
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.
Cash bridge derived
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 | €221,441 | €358,187 | +€136,746 | +61.8% |
| Fixed assets | 21/28 | €57,466 | €45,210 | -€12,257 | -21.3% |
| Tangible fixed assets | 22/27 | €57,466 | €45,210 | -€12,257 | -21.3% |
| Furniture and vehicles | 24 | €57,466 | €45,210 | -€12,257 | -21.3% |
| Current assets | 29/58 | €163,975 | €312,978 | +€149,003 | +90.9% |
| Current investments | 50/53 | €29,365 | €11,233 | -€18,133 | -61.7% |
| Cash at bank and in hand | 54/58 | €133,559 | €300,492 | +€166,934 | +125.0% |
| Deferred charges and accrued income | 490/1 | €1,051 | €1,253 | +€202 | +19.3% |
| Total equity and liabilities | 10/49 | €221,441 | €358,187 | +€136,746 | +61.8% |
| Equity | 10/15 | €165,741 | €283,655 | +€117,914 | +71.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,968 | €163,741 | +€90,773 | +124.4% |
| Distributable reserves | 133 | €72,968 | €163,741 | +€90,773 | +124.4% |
| Profit (loss) carried forward | 14 | €90,773 | €117,914 | +€27,141 | +29.9% |
| Amounts payable | 17/49 | €55,700 | €74,532 | +€18,833 | +33.8% |
| Amounts payable within one year | 42/48 | €54,200 | €73,032 | +€18,833 | +34.7% |
| Trade debts | 44 | €284 | €2,640 | +€2,356 | +829.7% |
| Suppliers | 440/4 | €284 | €2,640 | +€2,356 | +829.7% |
| Taxes, remuneration and social security | 45 | €53,899 | €70,351 | +€16,452 | +30.5% |
| Taxes | 450/3 | €53,899 | €68,125 | +€14,226 | +26.4% |
| Remuneration and social security | 454/9 | - | €2,226 | +€2,226 | |
| Other amounts payable | 47/48 | €17 | €41 | +€25 | +146.9% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,817 | €12,257 | +€8,440 | +221.1% |
| Other operating charges | 640/8 | €616 | €533 | -€83 | -13.5% |
| Gross operating margin | 9900 | €119,621 | €162,757 | +€43,136 | +36.1% |
| Operating profit (loss) | 9901 | €115,188 | €149,967 | +€34,779 | +30.2% |
| Financial income | 75/76B | €1,375 | €1,891 | +€516 | +37.5% |
| Recurring financial income | 75 | €1,375 | €1,891 | +€516 | +37.5% |
| Financial charges | 65/66B | €110 | €95 | -€15 | -13.6% |
| Recurring financial charges | 65 | €110 | €95 | -€15 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €116,453 | €151,763 | +€35,310 | +30.3% |
| Income taxes | 67/77 | €25,680 | €33,849 | +€8,169 | +31.8% |
| Profit (loss) for the period | 9904 | €90,773 | €117,914 | +€27,141 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,773 | €117,914 | +€27,141 | +29.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.