D 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.
D LAW
Largest movements
- Receivables within one year +€50,798
up €50,798 (+9.3%), from €546,421 to €597,218
of which Other amounts receivable: +€69,198
- Financial fixed assets +€22,500
up €22,500 (+300.0%), from €7,500 to €30,000
- Reserves +€90,000
up €90,000 (+24.3%), from €369,860 to €459,860
of which Distributable reserves: +€90,000
- Trade debts -€26,425
down €26,425 (-96.7%), from €27,325 to €900
- Tax, wage and social debts +€12,770
up €12,770 (+15.3%), from €83,561 to €96,331
- Financial income +€8,103
up €8,103 (+38.0%), from €21,324 to €29,427
- Gross operating margin +€5,778
up €5,778 (+6.0%), from €96,985 to €102,764
- Taxes +€3,717
up €3,717 (+10.9%), from €33,949 to €37,666
- Financial charges -€1,259
down €1,259 (-48.0%), from €2,621 to €1,362
- Other operating charges -€1,186
down €1,186 (-38.1%), from €3,114 to €1,927
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 | €566,110 | €643,396 | +€77,286 | +13.7% |
| Fixed assets | 21/28 | €7,500 | €31,272 | +€23,772 | +317.0% |
| Tangible fixed assets | 22/27 | - | €1,272 | +€1,272 | |
| Furniture and vehicles | 24 | - | €1,272 | +€1,272 | |
| Financial fixed assets | 28 | €7,500 | €30,000 | +€22,500 | +300.0% |
| Current assets | 29/58 | €558,610 | €612,124 | +€53,514 | +9.6% |
| Amounts receivable within one year | 40/41 | €546,421 | €597,218 | +€50,798 | +9.3% |
| Trade receivables | 40 | €18,400 | - | -€18,400 | |
| Other amounts receivable | 41 | €528,021 | €597,218 | +€69,198 | +13.1% |
| Cash at bank and in hand | 54/58 | €12,189 | €14,906 | +€2,716 | +22.3% |
| Total equity and liabilities | 10/49 | €566,110 | €643,396 | +€77,286 | +13.7% |
| Equity | 10/15 | €420,224 | €511,165 | +€90,940 | +21.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €369,860 | €459,860 | +€90,000 | +24.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €368,000 | €458,000 | +€90,000 | +24.5% |
| Profit (loss) carried forward | 14 | €37,964 | €38,905 | +€940 | +2.5% |
| Provisions and deferred taxes | 16 | €35,000 | €35,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €35,000 | €35,000 | = | 0.0% |
| Environmental obligations | 163 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable | 17/49 | €110,886 | €97,231 | -€13,655 | -12.3% |
| Amounts payable within one year | 42/48 | €110,886 | €97,231 | -€13,655 | -12.3% |
| Trade debts | 44 | €27,325 | €900 | -€26,425 | -96.7% |
| Suppliers | 440/4 | €27,325 | €900 | -€26,425 | -96.7% |
| Taxes, remuneration and social security | 45 | €83,561 | €96,331 | +€12,770 | +15.3% |
| Taxes | 450/3 | €83,561 | €96,331 | +€12,770 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €294 | +€294 | |
| Other operating charges | 640/8 | €3,114 | €1,927 | -€1,186 | -38.1% |
| Gross operating margin | 9900 | €96,985 | €102,764 | +€5,778 | +6.0% |
| Operating profit (loss) | 9901 | €93,872 | €100,542 | +€6,670 | +7.1% |
| Financial income | 75/76B | €21,324 | €29,427 | +€8,103 | +38.0% |
| Recurring financial income | 75 | €21,324 | €29,427 | +€8,103 | +38.0% |
| Financial charges | 65/66B | €2,621 | €1,362 | -€1,259 | -48.0% |
| Recurring financial charges | 65 | €2,621 | €1,362 | -€1,259 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €112,575 | €128,606 | +€16,032 | +14.2% |
| Income taxes | 67/77 | €33,949 | €37,666 | +€3,717 | +10.9% |
| Profit (loss) for the period | 9904 | €78,625 | €90,940 | +€12,315 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,625 | €90,940 | +€12,315 | +15.7% |
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 12 October 2026 via checked.be.