Cesar 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.
Cesar Law
Largest movements
- Cash +€148,508
up €148,508 (+55.6%), from €266,916 to €415,424
mainly Net result for the year (+€127,902) and Tax, wage and social debts (+€28,767)
- Receivables within one year +€18,637
up €18,637 (+115%), from €16,156 to €34,794
of which Other amounts receivable: +€16,037
- Tangible fixed assets -€10,541
down €10,541 (-23.2%), from €45,431 to €34,889
of which Furniture and vehicles: -€10,846
- Reserves +€127,902
up €127,902 (+49.1%), from €260,239 to €388,141
- Tax, wage and social debts +€28,767
up €28,767 (+45.5%), from €63,198 to €91,966
of which Taxes: +€30,417
- Gross operating margin -€7,732
down €7,732 (-3.8%), from €201,590 to €193,859
- Taxes -€2,086
down €2,086 (-3.7%), from €57,026 to €54,940
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 | €328,502 | €485,107 | +€156,604 | +47.7% |
| Fixed assets | 21/28 | €45,431 | €34,889 | -€10,541 | -23.2% |
| Tangible fixed assets | 22/27 | €45,431 | €34,889 | -€10,541 | -23.2% |
| Land and buildings | 22 | €8,239 | €7,399 | -€840 | -10.2% |
| Plant, machinery and equipment | 23 | - | €1,144 | +€1,144 | |
| Furniture and vehicles | 24 | €37,191 | €26,346 | -€10,846 | -29.2% |
| Current assets | 29/58 | €283,072 | €450,217 | +€167,146 | +59.0% |
| Amounts receivable within one year | 40/41 | €16,156 | €34,794 | +€18,637 | +115% |
| Trade receivables | 40 | - | €2,600 | +€2,600 | |
| Other amounts receivable | 41 | €16,156 | €32,194 | +€16,037 | +99.3% |
| Cash at bank and in hand | 54/58 | €266,916 | €415,424 | +€148,508 | +55.6% |
| Total equity and liabilities | 10/49 | €328,502 | €485,107 | +€156,604 | +47.7% |
| Equity | 10/15 | €265,239 | €393,141 | +€127,902 | +48.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €260,239 | €388,141 | +€127,902 | +49.1% |
| Distributable reserves | 133 | €260,239 | €388,141 | +€127,902 | +49.1% |
| Amounts payable | 17/49 | €63,263 | €91,966 | +€28,702 | +45.4% |
| Amounts payable within one year | 42/48 | €63,263 | €91,966 | +€28,702 | +45.4% |
| Trade debts | 44 | €65 | - | -€65 | |
| Suppliers | 440/4 | €65 | - | -€65 | |
| Taxes, remuneration and social security | 45 | €63,198 | €91,966 | +€28,767 | +45.5% |
| Taxes | 450/3 | €61,548 | €91,966 | +€30,417 | +49.4% |
| Remuneration and social security | 454/9 | €1,650 | - | -€1,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,006 | €11,723 | +€717 | +6.5% |
| Other operating charges | 640/8 | €330 | €311 | -€19 | -5.7% |
| Gross operating margin | 9900 | €201,590 | €193,859 | -€7,732 | -3.8% |
| Operating profit (loss) | 9901 | €190,254 | €181,824 | -€8,430 | -4.4% |
| Financial income | 75/76B | €369 | €1,284 | +€915 | +248% |
| Recurring financial income | 75 | €369 | €1,284 | +€915 | +248% |
| Financial charges | 65/66B | €329 | €266 | -€63 | -19.1% |
| Recurring financial charges | 65 | €75 | €266 | +€191 | +255% |
| Non-recurring financial charges | 66B | €254 | - | -€254 | |
| Profit (loss) for the period before taxes | 9903 | €190,294 | €182,842 | -€7,452 | -3.9% |
| Income taxes | 67/77 | €57,026 | €54,940 | -€2,086 | -3.7% |
| Profit (loss) for the period | 9904 | €133,268 | €127,902 | -€5,366 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €133,268 | €127,902 | -€5,366 | -4.0% |
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 26 October 2026 via checked.be.