Edson 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.
Edson Law
Largest movements
- Cash -€118,557
down €118,557 (-29.8%), from €397,889 to €279,331
mainly Contributions, distributions and other (-€100,000) and Current investments (-€75,152)
- Current investments +€75,152
new in 2025: €75,152
- Receivables within one year -€28,126
down €28,126 (-94.3%), from €29,815 to €1,689
of which Trade receivables: -€18,150
- Tangible fixed assets +€13,461
up €13,461 (+57.2%), from €23,539 to €37,000
of which Furniture and vehicles: +€7,773
- Other debts +€41,170
up €41,170 (+12.9%), from €318,250 to €359,420
- Debts after one year -€34,875
down €34,875 (-10.3%), from €339,956 to €305,081
- Profit (loss) carried forward -€32,896
down €32,896 (-10.3%), from €320,288 to €287,392
- Tax, wage and social debts -€22,409
down €22,409 (-47.8%), from €46,910 to €24,501
- Gross operating margin +€29,266
up €29,266 (+34.3%), from €85,297 to €114,563
- Financial charges +€5,282
up €5,282 (+68.4%), from €7,726 to €13,008
- Taxes +€4,976
up €4,976 (+27.1%), from €18,335 to €23,311
- Depreciation +€3,761
up €3,761 (+53.8%), from €6,986 to €10,747
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 | €1,062,858 | €1,016,948 | -€45,910 | -4.3% |
| Fixed assets | 21/28 | €635,154 | €657,916 | +€22,761 | +3.6% |
| Tangible fixed assets | 22/27 | €23,539 | €37,000 | +€13,461 | +57.2% |
| Land and buildings | 22 | €18,898 | €25,901 | +€7,003 | +37.1% |
| Plant, machinery and equipment | 23 | €2,329 | €1,014 | -€1,315 | -56.4% |
| Furniture and vehicles | 24 | €2,312 | €10,085 | +€7,773 | +336% |
| Financial fixed assets | 28 | €611,616 | €620,916 | +€9,301 | +1.5% |
| Current assets | 29/58 | €427,704 | €359,032 | -€68,672 | -16.1% |
| Amounts receivable within one year | 40/41 | €29,815 | €1,689 | -€28,126 | -94.3% |
| Trade receivables | 40 | €18,150 | - | -€18,150 | |
| Other amounts receivable | 41 | €11,665 | €1,689 | -€9,976 | -85.5% |
| Current investments | 50/53 | - | €75,152 | +€75,152 | |
| Cash at bank and in hand | 54/58 | €397,889 | €279,331 | -€118,557 | -29.8% |
| Deferred charges and accrued income | 490/1 | - | €2,860 | +€2,860 | |
| Total equity and liabilities | 10/49 | €1,062,858 | €1,016,948 | -€45,910 | -4.3% |
| Equity | 10/15 | €323,588 | €290,692 | -€32,896 | -10.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | - | -€3,000 | |
| Issued capital | 100 | €3,000 | - | -€3,000 | |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Legal reserve | 130 | €300 | - | -€300 | |
| Reserves not available under the articles | 1311 | - | €300 | +€300 | |
| Profit (loss) carried forward | 14 | €320,288 | €287,392 | -€32,896 | -10.3% |
| Amounts payable | 17/49 | €739,271 | €726,256 | -€13,015 | -1.8% |
| Amounts payable after more than one year | 17 | €339,956 | €305,081 | -€34,875 | -10.3% |
| Financial debts | 170/4 | €339,956 | €305,081 | -€34,875 | -10.3% |
| Amounts payable within one year | 42/48 | €399,315 | €421,175 | +€21,861 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €33,658 | €34,875 | +€1,217 | +3.6% |
| Trade debts | 44 | €496 | €2,378 | +€1,882 | +379% |
| Suppliers | 440/4 | €496 | €2,378 | +€1,882 | +379% |
| Taxes, remuneration and social security | 45 | €46,910 | €24,501 | -€22,409 | -47.8% |
| Taxes | 450/3 | €46,910 | €24,501 | -€22,409 | -47.8% |
| Other amounts payable | 47/48 | €318,250 | €359,420 | +€41,170 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,986 | €10,747 | +€3,761 | +53.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €85,297 | €114,563 | +€29,266 | +34.3% |
| Operating profit (loss) | 9901 | €77,924 | €103,416 | +€25,492 | +32.7% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €7,726 | €13,008 | +€5,282 | +68.4% |
| Recurring financial charges | 65 | €7,726 | €13,008 | +€5,282 | +68.4% |
| Profit (loss) for the period before taxes | 9903 | €70,198 | €90,415 | +€20,217 | +28.8% |
| Income taxes | 67/77 | €18,335 | €23,311 | +€4,976 | +27.1% |
| Profit (loss) for the period | 9904 | €51,863 | €67,104 | +€15,241 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,863 | €67,104 | +€15,241 | +29.4% |
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 18 October 2026 via checked.be.