CodeLaw: 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.
CodeLaw
Largest movements
- Tangible fixed assets +€33,765
up €33,765 (+878.1%), from €3,845 to €37,610
of which Assets under construction and advance payments: +€31,637
- Receivables within one year -€18,164
down €18,164 (-33.4%), from €54,303 to €36,139
of which Trade receivables: -€18,017
- Deferred charges and accrued income +€7,195
up €7,195 (+114.5%), from €6,282 to €13,477
- Trade debts +€28,143
up €28,143 (+884.2%), from €3,183 to €31,326
- Profit (loss) carried forward +€12,690
up €12,690 (+96.9%), from -€13,102 to -€412
- Debts after one year -€10,224
down €10,224 (-49.4%), from €20,695 to €10,470
- Tax, wage and social debts -€4,882
down €4,882 (-12.5%), from €39,034 to €34,152
of which Taxes: -€3,883
- Accrued charges and deferred income -€3,387
down €3,387 (-83.6%), from €4,051 to €665
- Gross operating margin +€21,215
up €21,215 (+19.9%), from €106,683 to €127,898
- Staff costs +€11,130
up €11,130 (+11.2%), from €99,524 to €110,653
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 | €67,600 | €90,176 | +€22,576 | +33.4% |
| Fixed assets | 21/28 | €3,845 | €37,610 | +€33,765 | +878.1% |
| Tangible fixed assets | 22/27 | €3,845 | €37,610 | +€33,765 | +878.1% |
| Plant, machinery and equipment | 23 | €1,413 | €960 | -€453 | -32.1% |
| Furniture and vehicles | 24 | €2,432 | €5,013 | +€2,581 | +106.1% |
| Assets under construction and advance payments | 27 | - | €31,637 | +€31,637 | |
| Current assets | 29/58 | €63,755 | €52,566 | -€11,189 | -17.5% |
| Amounts receivable within one year | 40/41 | €54,303 | €36,139 | -€18,164 | -33.4% |
| Trade receivables | 40 | €54,153 | €36,136 | -€18,017 | -33.3% |
| Other amounts receivable | 41 | €150 | €4 | -€146 | -97.5% |
| Cash at bank and in hand | 54/58 | €3,170 | €2,949 | -€220 | -6.9% |
| Deferred charges and accrued income | 490/1 | €6,282 | €13,477 | +€7,195 | +114.5% |
| Total equity and liabilities | 10/49 | €67,600 | €90,176 | +€22,576 | +33.4% |
| Equity | 10/15 | -€10,602 | €2,088 | +€12,690 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,102 | -€412 | +€12,690 | +96.9% |
| Amounts payable | 17/49 | €78,202 | €88,088 | +€9,885 | +12.6% |
| Amounts payable after more than one year | 17 | €20,695 | €10,470 | -€10,224 | -49.4% |
| Financial debts | 170/4 | €20,695 | €10,470 | -€10,224 | -49.4% |
| Amounts payable within one year | 42/48 | €53,456 | €76,953 | +€23,496 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €11,239 | €11,474 | +€235 | +2.1% |
| Trade debts | 44 | €3,183 | €31,326 | +€28,143 | +884.2% |
| Suppliers | 440/4 | €3,183 | €31,326 | +€28,143 | +884.2% |
| Taxes, remuneration and social security | 45 | €39,034 | €34,152 | -€4,882 | -12.5% |
| Taxes | 450/3 | €14,006 | €10,124 | -€3,883 | -27.7% |
| Remuneration and social security | 454/9 | €25,028 | €24,029 | -€999 | -4.0% |
| Accrued charges and deferred income | 492/3 | €4,051 | €665 | -€3,387 | -83.6% |
| Remuneration, social security and pensions | 62 | €99,524 | €110,653 | +€11,130 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,594 | €3,484 | +€890 | +34.3% |
| Other operating charges | 640/8 | €39 | €99 | +€60 | +153.7% |
| Gross operating margin | 9900 | €106,683 | €127,898 | +€21,215 | +19.9% |
| Operating profit (loss) | 9901 | €4,526 | €13,662 | +€9,136 | +201.9% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €1,535 | €972 | -€564 | -36.7% |
| Recurring financial charges | 65 | €1,535 | €972 | -€564 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €3,010 | €12,690 | +€9,680 | +321.6% |
| Profit (loss) for the period | 9904 | €3,010 | €12,690 | +€9,680 | +321.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,010 | €12,690 | +€9,680 | +321.6% |
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 10 October 2026 via checked.be.