BoldLAW: 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.
BoldLAW
Largest movements
- Cash -€16,526
down €16,526 (-29.2%), from €56,678 to €40,152
mainly Contributions, distributions and other (-€20,882) and Debts after one year (-€16,443)
- Tangible fixed assets -€15,311
down €15,311 (-6.6%), from €233,388 to €218,077
of which Land and buildings: -€17,444
- Debts after one year -€16,443
down €16,443 (-7.6%), from €215,361 to €198,917
- Reserves -€11,860
down €11,860 (-43.9%), from €27,000 to €15,140
of which Distributable reserves: -€11,860
- Tax, wage and social debts +€4,025
up €4,025 (+65.8%), from €6,116 to €10,140
of which Taxes: +€2,976
- Accrued charges and deferred income -€3,500
no longer reported in 2025 (was €3,500)
- Gross operating margin -€9,059
down €9,059 (-17.1%), from €53,071 to €44,012
- Taxes -€2,566
down €2,566 (-43.7%), from €5,872 to €3,306
- Depreciation +€2,342
up €2,342 (+13.3%), from €17,576 to €19,918
- Financial charges +€571
up €571 (+9.4%), from €6,077 to €6,648
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 | €321,823 | €290,641 | -€31,182 | -9.7% |
| Fixed assets | 21/28 | €233,388 | €218,077 | -€15,311 | -6.6% |
| Tangible fixed assets | 22/27 | €233,388 | €218,077 | -€15,311 | -6.6% |
| Land and buildings | 22 | €210,299 | €192,854 | -€17,444 | -8.3% |
| Plant, machinery and equipment | 23 | €17,964 | €20,362 | +€2,397 | +13.3% |
| Furniture and vehicles | 24 | €2,925 | €2,661 | -€264 | -9.0% |
| Other tangible fixed assets | 26 | €2,200 | €2,200 | = | 0.0% |
| Current assets | 29/58 | €88,435 | €72,564 | -€15,871 | -17.9% |
| Amounts receivable within one year | 40/41 | €31,757 | €32,348 | +€591 | +1.9% |
| Trade receivables | 40 | €31,757 | €32,348 | +€591 | +1.9% |
| Cash at bank and in hand | 54/58 | €56,678 | €40,152 | -€16,526 | -29.2% |
| Deferred charges and accrued income | 490/1 | - | €65 | +€65 | |
| Total equity and liabilities | 10/49 | €321,823 | €290,641 | -€31,182 | -9.7% |
| Equity | 10/15 | €45,600 | €33,740 | -€11,860 | -26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,000 | €15,140 | -€11,860 | -43.9% |
| Tax-exempt reserves | 132 | €77 | €77 | = | 0.0% |
| Distributable reserves | 133 | €26,924 | €15,064 | -€11,860 | -44.1% |
| Amounts payable | 17/49 | €276,223 | €256,901 | -€19,322 | -7.0% |
| Amounts payable after more than one year | 17 | €215,361 | €198,917 | -€16,443 | -7.6% |
| Financial debts | 170/4 | €215,361 | €198,917 | -€16,443 | -7.6% |
| Amounts payable within one year | 42/48 | €57,362 | €57,984 | +€622 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €16,798 | €16,325 | -€472 | -2.8% |
| Trade debts | 44 | €1,189 | €1,035 | -€154 | -12.9% |
| Suppliers | 440/4 | €1,189 | €1,035 | -€154 | -12.9% |
| Taxes, remuneration and social security | 45 | €6,116 | €10,140 | +€4,025 | +65.8% |
| Taxes | 450/3 | €3,967 | €6,943 | +€2,976 | +75.0% |
| Remuneration and social security | 454/9 | €2,149 | €3,197 | +€1,049 | +48.8% |
| Other amounts payable | 47/48 | €33,260 | €30,483 | -€2,777 | -8.3% |
| Accrued charges and deferred income | 492/3 | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,576 | €19,918 | +€2,342 | +13.3% |
| Other operating charges | 640/8 | €5,545 | €5,321 | -€224 | -4.0% |
| Gross operating margin | 9900 | €53,071 | €44,012 | -€9,059 | -17.1% |
| Operating profit (loss) | 9901 | €29,949 | €18,773 | -€11,177 | -37.3% |
| Financial income | 75/76B | €171 | €203 | +€32 | +18.9% |
| Recurring financial income | 75 | €171 | €203 | +€32 | +18.9% |
| Financial charges | 65/66B | €6,077 | €6,648 | +€571 | +9.4% |
| Recurring financial charges | 65 | €6,077 | €6,648 | +€571 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €24,043 | €12,328 | -€11,715 | -48.7% |
| Income taxes | 67/77 | €5,872 | €3,306 | -€2,566 | -43.7% |
| Profit (loss) for the period | 9904 | €18,171 | €9,022 | -€9,149 | -50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,171 | €9,022 | -€9,149 | -50.4% |
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 6 October 2026 via checked.be.