De 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 Law
Largest movements
- Tangible fixed assets +€82,633
up €82,633 (+338%), from €24,446 to €107,080
of which Land and buildings: +€95,121
- Cash +€69,961
up €69,961 (+2,459%), from €2,845 to €72,806
mainly Debts after one year (+€56,722) and Receivables within one year (+€46,294)
- Receivables within one year -€46,294
down €46,294 (-59.6%), from €77,682 to €31,388
of which Trade receivables: -€48,525
- Debts after one year +€56,722
up €56,722 (+648%), from €8,753 to €65,475
- Other debts +€39,420
up €39,420 (+288%), from €13,694 to €53,114
- Trade debts +€13,904
up €13,904 (+266%), from €5,222 to €19,126
- Current portion of long-term debt +€6,284
up €6,284 (+72.3%), from €8,688 to €14,972
- Profit (loss) carried forward -€4,997
down €4,997 (-16.6%), from €30,105 to €25,108
- Gross operating margin +€14,965
up €14,965 (+34.1%), from €43,852 to €58,817
- Taxes +€1,277
up €1,277 (+21.5%), from €5,947 to €7,224
- Depreciation +€786
up €786 (+5.3%), from €14,736 to €15,522
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 | €105,657 | €213,885 | +€108,228 | +102% |
| Fixed assets | 21/28 | €24,446 | €107,080 | +€82,633 | +338% |
| Tangible fixed assets | 22/27 | €24,446 | €107,080 | +€82,633 | +338% |
| Land and buildings | 22 | €1,878 | €96,999 | +€95,121 | +5,064% |
| Plant, machinery and equipment | 23 | €668 | €310 | -€359 | -53.7% |
| Furniture and vehicles | 24 | €21,900 | €9,771 | -€12,129 | -55.4% |
| Current assets | 29/58 | €81,210 | €106,805 | +€25,594 | +31.5% |
| Amounts receivable within one year | 40/41 | €77,682 | €31,388 | -€46,294 | -59.6% |
| Trade receivables | 40 | €77,631 | €29,105 | -€48,525 | -62.5% |
| Other amounts receivable | 41 | €52 | €2,283 | +€2,231 | +4,318% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,845 | €72,806 | +€69,961 | +2,459% |
| Deferred charges and accrued income | 490/1 | €434 | €2,360 | +€1,927 | +444% |
| Total equity and liabilities | 10/49 | €105,657 | €213,885 | +€108,228 | +102% |
| Equity | 10/15 | €57,295 | €52,299 | -€4,997 | -8.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €22,190 | €22,190 | = | 0.0% |
| Distributable reserves | 133 | €22,190 | €22,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,105 | €25,108 | -€4,997 | -16.6% |
| Amounts payable | 17/49 | €48,362 | €161,586 | +€113,224 | +234% |
| Amounts payable after more than one year | 17 | €8,753 | €65,475 | +€56,722 | +648% |
| Financial debts | 170/4 | €8,753 | €65,475 | +€56,722 | +648% |
| Amounts payable within one year | 42/48 | €39,609 | €96,111 | +€56,502 | +143% |
| Current portion of amounts payable after more than one year | 42 | €8,688 | €14,972 | +€6,284 | +72.3% |
| Trade debts | 44 | €5,222 | €19,126 | +€13,904 | +266% |
| Suppliers | 440/4 | €5,222 | €19,126 | +€13,904 | +266% |
| Taxes, remuneration and social security | 45 | €12,005 | €8,899 | -€3,106 | -25.9% |
| Taxes | 450/3 | €11,550 | €8,899 | -€2,652 | -23.0% |
| Remuneration and social security | 454/9 | €455 | - | -€455 | |
| Other amounts payable | 47/48 | €13,694 | €53,114 | +€39,420 | +288% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,736 | €15,522 | +€786 | +5.3% |
| Other operating charges | 640/8 | €639 | €885 | +€246 | +38.5% |
| Non-recurring operating charges | 66A | - | €7 | +€7 | |
| Gross operating margin | 9900 | €43,852 | €58,817 | +€14,965 | +34.1% |
| Operating profit (loss) | 9901 | €28,478 | €42,403 | +€13,925 | +48.9% |
| Financial income | 75/76B | €19 | €587 | +€567 | +2,965% |
| Recurring financial income | 75 | €19 | €587 | +€567 | +2,965% |
| Financial charges | 65/66B | €360 | €762 | +€402 | +112% |
| Recurring financial charges | 65 | €360 | €762 | +€402 | +112% |
| Profit (loss) for the period before taxes | 9903 | €28,137 | €42,227 | +€14,090 | +50.1% |
| Income taxes | 67/77 | €5,947 | €7,224 | +€1,277 | +21.5% |
| Profit (loss) for the period | 9904 | €22,190 | €35,003 | +€12,813 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,190 | €35,003 | +€12,813 | +57.7% |
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 16 October 2026 via checked.be.