DE BOCK 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.
DE BOCK LAW
Largest movements
- Tangible fixed assets +€54,535
up €54,535 (+730%), from €7,473 to €62,008
of which Furniture and vehicles: +€55,057
- Receivables within one year -€22,456
down €22,456 (-13.6%), from €164,899 to €142,444
- Cash -€8,227
down €8,227 (-15.8%), from €52,145 to €43,918
mainly Investment in fixed assets (net) (-€64,756) and Other debts (-€51,433)
- Stocks and contracts +€6,218
up €6,218 (+12.1%), from €51,219 to €57,437
- Profit (loss) carried forward +€60,648
up €60,648 (+26.0%), from -€233,348 to -€172,700
- Other debts -€51,433
down €51,433 (-38.4%), from €134,058 to €82,626
- Debts after one year +€28,733
new in 2025: €28,733
- Tax, wage and social debts -€10,733
down €10,733 (-37.0%), from €29,000 to €18,267
- Current portion of long-term debt +€7,578
new in 2025: €7,578
- Gross operating margin -€34,112
down €34,112 (-28.1%), from €121,456 to €87,345
- Depreciation +€7,366
up €7,366 (+258%), from €2,854 to €10,221
- Staff costs -€5,298
down €5,298 (-53.5%), from €9,905 to €4,607
- Taxes -€3,687
down €3,687 (-92.1%), from €4,001 to €314
- Financial charges +€1,268
up €1,268 (+136%), from €930 to €2,198
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 | €278,231 | €309,797 | +€31,566 | +11.3% |
| Fixed assets | 21/28 | €7,473 | €62,008 | +€54,535 | +730% |
| Tangible fixed assets | 22/27 | €7,473 | €62,008 | +€54,535 | +730% |
| Furniture and vehicles | 24 | €5,386 | €60,443 | +€55,057 | +1,022% |
| Other tangible fixed assets | 26 | €2,087 | €1,565 | -€522 | -25.0% |
| Current assets | 29/58 | €270,758 | €247,789 | -€22,969 | -8.5% |
| Stocks and contracts in progress | 3 | €51,219 | €57,437 | +€6,218 | +12.1% |
| Contracts in progress | 37 | €51,219 | €57,437 | +€6,218 | +12.1% |
| Amounts receivable within one year | 40/41 | €164,899 | €142,444 | -€22,456 | -13.6% |
| Trade receivables | 40 | €164,899 | €142,444 | -€22,456 | -13.6% |
| Cash at bank and in hand | 54/58 | €52,145 | €43,918 | -€8,227 | -15.8% |
| Deferred charges and accrued income | 490/1 | €2,495 | €3,991 | +€1,496 | +60.0% |
| Total equity and liabilities | 10/49 | €278,231 | €309,797 | +€31,566 | +11.3% |
| Equity | 10/15 | €104,453 | €165,101 | +€60,648 | +58.1% |
| Contributions | 10/11 | €161,727 | €161,727 | = | 0.0% |
| Reserves | 13 | €176,074 | €176,074 | = | 0.0% |
| Distributable reserves | 133 | €176,074 | €176,074 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€233,348 | -€172,700 | +€60,648 | +26.0% |
| Amounts payable | 17/49 | €173,777 | €144,696 | -€29,082 | -16.7% |
| Amounts payable after more than one year | 17 | - | €28,733 | +€28,733 | |
| Financial debts | 170/4 | - | €28,733 | +€28,733 | |
| Amounts payable within one year | 42/48 | €173,777 | €115,963 | -€57,815 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,578 | +€7,578 | |
| Financial debts | 43 | €101 | €259 | +€158 | +157% |
| Credit institutions | 430/8 | €101 | €259 | +€158 | +157% |
| Trade debts | 44 | €10,618 | €7,234 | -€3,384 | -31.9% |
| Suppliers | 440/4 | €10,618 | €7,234 | -€3,384 | -31.9% |
| Taxes, remuneration and social security | 45 | €29,000 | €18,267 | -€10,733 | -37.0% |
| Taxes | 450/3 | €29,000 | €18,267 | -€10,733 | -37.0% |
| Other amounts payable | 47/48 | €134,058 | €82,626 | -€51,433 | -38.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €17,189 | €156 | -€17,033 | -99.1% |
| Remuneration, social security and pensions | 62 | €9,905 | €4,607 | -€5,298 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,854 | €10,221 | +€7,366 | +258% |
| Other operating charges | 640/8 | €3,582 | €4,659 | +€1,077 | +30.1% |
| Non-recurring operating charges | 66A | €2,419 | €5,020 | +€2,601 | +107% |
| Gross operating margin | 9900 | €121,456 | €87,345 | -€34,112 | -28.1% |
| Operating profit (loss) | 9901 | €102,696 | €62,838 | -€39,858 | -38.8% |
| Financial income | 75/76B | €92 | €322 | +€230 | +251% |
| Recurring financial income | 75 | €92 | €322 | +€230 | +251% |
| Financial charges | 65/66B | €930 | €2,198 | +€1,268 | +136% |
| Recurring financial charges | 65 | €930 | €2,198 | +€1,268 | +136% |
| Profit (loss) for the period before taxes | 9903 | €101,858 | €60,962 | -€40,896 | -40.1% |
| Income taxes | 67/77 | €4,001 | €314 | -€3,687 | -92.1% |
| Profit (loss) for the period | 9904 | €97,856 | €60,648 | -€37,209 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,856 | €60,648 | -€37,209 | -38.0% |
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 23 October 2026 via checked.be.