BS LAW: 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.
BS LAW
Largest movements
- Tangible fixed assets +€8,982
up €8,982 (+53.8%), from €16,691 to €25,672
- Receivables within one year +€4,736
up €4,736 (+14.8%), from €31,990 to €36,726
of which Trade receivables: +€4,686
- Other debts +€130,345
up €130,345 (+184%), from €70,706 to €201,051
- Reserves -€87,590
down €87,590 (-43.7%), from €200,503 to €112,913
of which Distributable reserves: -€87,590
- Trade debts -€9,472
down €9,472 (-86.6%), from €10,931 to €1,459
- Tax, wage and social debts -€6,726
down €6,726 (-47.3%), from €14,206 to €7,480
- Current portion of long-term debt -€5,629
down €5,629 (-58.1%), from €9,681 to €4,052
- Gross operating margin -€13,308
down €13,308 (-11.9%), from €111,780 to €98,472
- Taxes -€4,584
down €4,584 (-17.7%), from €25,881 to €21,297
- Financial charges +€4,172
up €4,172 (+973%), from €429 to €4,601
- Financial income +€2,135
up €2,135 (+239%), from €892 to €3,026
- Depreciation +€1,688
up €1,688 (+15.4%), from €10,930 to €12,619
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 | €312,079 | €328,955 | +€16,876 | +5.4% |
| Fixed assets | 21/28 | €16,691 | €25,672 | +€8,982 | +53.8% |
| Tangible fixed assets | 22/27 | €16,691 | €25,672 | +€8,982 | +53.8% |
| Furniture and vehicles | 24 | €16,691 | €25,672 | +€8,982 | +53.8% |
| Current assets | 29/58 | €295,388 | €303,283 | +€7,895 | +2.7% |
| Amounts receivable within one year | 40/41 | €31,990 | €36,726 | +€4,736 | +14.8% |
| Trade receivables | 40 | €28,221 | €32,907 | +€4,686 | +16.6% |
| Other amounts receivable | 41 | €3,769 | €3,819 | +€50 | +1.3% |
| Cash at bank and in hand | 54/58 | €261,995 | €262,175 | +€181 | +0.1% |
| Deferred charges and accrued income | 490/1 | €1,403 | €4,381 | +€2,978 | +212% |
| Total equity and liabilities | 10/49 | €312,079 | €328,955 | +€16,876 | +5.4% |
| Equity | 10/15 | €202,503 | €114,913 | -€87,590 | -43.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200,503 | €112,913 | -€87,590 | -43.7% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,520 | €50,520 | = | 0.0% |
| Distributable reserves | 133 | €149,783 | €62,193 | -€87,590 | -58.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,576 | €214,042 | +€104,466 | +95.3% |
| Amounts payable after more than one year | 17 | €4,052 | €0 | -€4,052 | -100% |
| Financial debts | 170/4 | €4,052 | €0 | -€4,052 | -100% |
| Amounts payable within one year | 42/48 | €105,524 | €214,042 | +€108,518 | +103% |
| Current portion of amounts payable after more than one year | 42 | €9,681 | €4,052 | -€5,629 | -58.1% |
| Trade debts | 44 | €10,931 | €1,459 | -€9,472 | -86.6% |
| Suppliers | 440/4 | €10,931 | €1,459 | -€9,472 | -86.6% |
| Taxes, remuneration and social security | 45 | €14,206 | €7,480 | -€6,726 | -47.3% |
| Taxes | 450/3 | €14,206 | €7,480 | -€6,726 | -47.3% |
| Other amounts payable | 47/48 | €70,706 | €201,051 | +€130,345 | +184% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,930 | €12,619 | +€1,688 | +15.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,334 | -€248 | +€1,086 | +81.4% |
| Other operating charges | 640/8 | €703 | €1,320 | +€616 | +87.6% |
| Gross operating margin | 9900 | €111,780 | €98,472 | -€13,308 | -11.9% |
| Operating profit (loss) | 9901 | €101,480 | €84,782 | -€16,698 | -16.5% |
| Financial income | 75/76B | €892 | €3,026 | +€2,135 | +239% |
| Recurring financial income | 75 | €892 | €3,026 | +€2,135 | +239% |
| Financial charges | 65/66B | €429 | €4,601 | +€4,172 | +973% |
| Recurring financial charges | 65 | €429 | €4,601 | +€4,172 | +973% |
| Profit (loss) for the period before taxes | 9903 | €101,943 | €83,207 | -€18,736 | -18.4% |
| Income taxes | 67/77 | €25,881 | €21,297 | -€4,584 | -17.7% |
| Profit (loss) for the period | 9904 | €76,062 | €61,910 | -€14,152 | -18.6% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €76,062 | €61,910 | -€14,152 | -18.6% |
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 21 October 2026 via checked.be.