E2LAW: what changed
Two fiscal 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.
E2LAW
Largest movements
- Receivables within one year -€38,140
down €38,140 (-32.4%), from €117,830 to €79,690
of which Other amounts receivable: -€35,042
- Cash -€5,432
down €5,432 (-14.5%), from €37,584 to €32,152
mainly Trade debts (-€19,313) and Contributions, distributions and other (-€13,583)
- Tangible fixed assets -€2,950
down €2,950 (-23.8%), from €12,386 to €9,436
- Trade debts -€19,313
down €19,313 (-77.4%), from €24,939 to €5,626
- Current portion of long-term debt -€12,235
down €12,235 (-81.0%), from €15,101 to €2,866
- Reserves -€11,926
down €11,926 (-17.5%), from €68,296 to €56,369
of which Distributable reserves: -€11,926
- Tax, wage and social debts -€7,896
down €7,896 (-30.9%), from €25,541 to €17,645
- Accrued charges and deferred income +€5,000
new in 2025: €5,000
- Gross operating margin -€34,447
down €34,447 (-73.1%), from €47,151 to €12,703
- Depreciation -€8,850
down €8,850 (-55.1%), from €16,060 to €7,210
- Taxes -€4,819
down €4,819 (-63.9%), from €7,541 to €2,722
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 | €168,719 | €123,391 | -€45,328 | -26.9% |
| Fixed assets | 21/28 | €12,386 | €9,436 | -€2,950 | -23.8% |
| Tangible fixed assets | 22/27 | €12,386 | €9,436 | -€2,950 | -23.8% |
| Furniture and vehicles | 24 | €12,386 | €9,436 | -€2,950 | -23.8% |
| Current assets | 29/58 | €156,333 | €113,955 | -€42,378 | -27.1% |
| Amounts receivable within one year | 40/41 | €117,830 | €79,690 | -€38,140 | -32.4% |
| Trade receivables | 40 | €30,202 | €27,104 | -€3,098 | -10.3% |
| Other amounts receivable | 41 | €87,628 | €52,586 | -€35,042 | -40.0% |
| Cash at bank and in hand | 54/58 | €37,584 | €32,152 | -€5,432 | -14.5% |
| Deferred charges and accrued income | 490/1 | €919 | €2,113 | +€1,194 | +130.0% |
| Total equity and liabilities | 10/49 | €168,719 | €123,391 | -€45,328 | -26.9% |
| Equity | 10/15 | €85,596 | €73,669 | -€11,926 | -13.9% |
| Contributions | 10/11 | €17,300 | €17,300 | = | 0.0% |
| Outside capital | 11 | €17,300 | €17,300 | = | 0.0% |
| Other | 1109/19 | €17,300 | €17,300 | = | 0.0% |
| Reserves | 13 | €68,296 | €56,369 | -€11,926 | -17.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €66,436 | €54,509 | -€11,926 | -18.0% |
| Amounts payable | 17/49 | €83,123 | €49,721 | -€33,402 | -40.2% |
| Amounts payable after more than one year | 17 | €2,866 | - | -€2,866 | |
| Financial debts | 170/4 | €2,866 | - | -€2,866 | |
| Amounts payable within one year | 42/48 | €80,257 | €44,721 | -€35,536 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €15,101 | €2,866 | -€12,235 | -81.0% |
| Trade debts | 44 | €24,939 | €5,626 | -€19,313 | -77.4% |
| Suppliers | 440/4 | €24,939 | €5,626 | -€19,313 | -77.4% |
| Taxes, remuneration and social security | 45 | €25,541 | €17,645 | -€7,896 | -30.9% |
| Taxes | 450/3 | €25,541 | €17,645 | -€7,896 | -30.9% |
| Other amounts payable | 47/48 | €14,675 | €18,584 | +€3,909 | +26.6% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,060 | €7,210 | -€8,850 | -55.1% |
| Other operating charges | 640/8 | €295 | - | -€295 | |
| Non-recurring operating charges | 66A | - | €45 | +€45 | |
| Gross operating margin | 9900 | €47,151 | €12,703 | -€34,447 | -73.1% |
| Operating profit (loss) | 9901 | €30,796 | €5,449 | -€25,347 | -82.3% |
| Financial income | 75/76B | €75 | €0 | -€75 | -99.9% |
| Recurring financial income | 75 | €75 | €0 | -€75 | -99.9% |
| Financial charges | 65/66B | €1,343 | €1,070 | -€273 | -20.3% |
| Recurring financial charges | 65 | €1,343 | €1,070 | -€273 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €29,527 | €4,379 | -€25,148 | -85.2% |
| Income taxes | 67/77 | €7,541 | €2,722 | -€4,819 | -63.9% |
| Profit (loss) for the period | 9904 | €21,986 | €1,657 | -€20,329 | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,986 | €1,657 | -€20,329 | -92.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.