DW 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.
DW LAW
Largest movements
- Cash -€72,675
down €72,675 (-68.3%), from €106,334 to €33,659
mainly Contributions, distributions and other (-€165,177) and Investment in fixed assets (net) (-€41,983)
- Tangible fixed assets +€37,918
up €37,918 (+420%), from €9,036 to €46,954
of which Furniture and vehicles: +€36,726
- Deferred charges and accrued income -€5,013
down €5,013 (-52.2%), from €9,601 to €4,587
- Receivables within one year +€1,467
up €1,467 (+99.9%), from €1,468 to €2,934
of which Other amounts receivable: +€918
- Reserves -€115,897
down €115,897 (-100%), from €115,897 to €0
- Other debts +€40,342
up €40,342 (+3,760%), from €1,073 to €41,414
- Debts after one year +€18,673
new in 2025: €18,673
- Current portion of long-term debt +€10,795
new in 2025: €10,795
- Tax, wage and social debts +€7,525
up €7,525 (+116%), from €6,469 to €13,994
of which Remuneration and social security: +€7,392
- Gross operating margin +€4,978
up €4,978 (+8.0%), from €62,014 to €66,992
- Depreciation +€2,620
up €2,620 (+181%), from €1,445 to €4,065
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 | €126,439 | €88,135 | -€38,303 | -30.3% |
| Fixed assets | 21/28 | €9,036 | €46,954 | +€37,918 | +420% |
| Tangible fixed assets | 22/27 | €9,036 | €46,954 | +€37,918 | +420% |
| Land and buildings | 22 | €8,133 | €7,393 | -€740 | -9.1% |
| Plant, machinery and equipment | 23 | - | €1,932 | +€1,932 | |
| Furniture and vehicles | 24 | €903 | €37,629 | +€36,726 | +4,067% |
| Current assets | 29/58 | €117,402 | €41,181 | -€76,221 | -64.9% |
| Amounts receivable within one year | 40/41 | €1,468 | €2,934 | +€1,467 | +99.9% |
| Trade receivables | 40 | €152 | €701 | +€549 | +362% |
| Other amounts receivable | 41 | €1,316 | €2,233 | +€918 | +69.8% |
| Cash at bank and in hand | 54/58 | €106,334 | €33,659 | -€72,675 | -68.3% |
| Deferred charges and accrued income | 490/1 | €9,601 | €4,587 | -€5,013 | -52.2% |
| Total equity and liabilities | 10/49 | €126,439 | €88,135 | -€38,303 | -30.3% |
| Equity | 10/15 | €118,897 | €3,000 | -€115,897 | -97.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €115,897 | €0 | -€115,897 | -100% |
| Distributable reserves | 133 | €115,897 | €0 | -€115,897 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €7,542 | €85,135 | +€77,593 | +1,029% |
| Amounts payable after more than one year | 17 | - | €18,673 | +€18,673 | |
| Financial debts | 170/4 | - | €18,673 | +€18,673 | |
| Amounts payable within one year | 42/48 | €7,542 | €66,462 | +€58,920 | +781% |
| Current portion of amounts payable after more than one year | 42 | - | €10,795 | +€10,795 | |
| Trade debts | 44 | €0 | €259 | +€259 | |
| Suppliers | 440/4 | €0 | €259 | +€259 | |
| Taxes, remuneration and social security | 45 | €6,469 | €13,994 | +€7,525 | +116% |
| Taxes | 450/3 | €6,469 | €6,602 | +€133 | +2.1% |
| Remuneration and social security | 454/9 | - | €7,392 | +€7,392 | |
| Other amounts payable | 47/48 | €1,073 | €41,414 | +€40,342 | +3,760% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,445 | €4,065 | +€2,620 | +181% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €62,014 | €66,992 | +€4,978 | +8.0% |
| Operating profit (loss) | 9901 | €60,000 | €62,341 | +€2,341 | +3.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | - | €294 | +€294 | |
| Recurring financial charges | 65 | - | €294 | +€294 | |
| Profit (loss) for the period before taxes | 9903 | €60,000 | €62,047 | +€2,047 | +3.4% |
| Income taxes | 67/77 | €12,184 | €12,767 | +€582 | +4.8% |
| Profit (loss) for the period | 9904 | €47,816 | €49,280 | +€1,464 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,816 | €49,280 | +€1,464 | +3.1% |
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 15 October 2026 via checked.be.