EL'LAW: 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.
EL'LAW
Largest movements
- Cash -€48,559
down €48,559 (-71.6%), from €67,774 to €19,215
mainly Contributions, distributions and other (-€124,706) and Investment in fixed assets (net) (-€994)
- Receivables within one year -€1,295
down €1,295 (-9.1%), from €14,292 to €12,998
of which Trade receivables: -€1,295
- Profit (loss) carried forward -€78,337
down €78,337, from €74,448 to -€3,889
- Tax, wage and social debts +€25,068
up €25,068 (+514.5%), from €4,872 to €29,940
- Trade debts +€1,631
up €1,631 (+79.7%), from €2,046 to €3,677
- Other debts +€1,134
up €1,134 (+41.8%), from €2,711 to €3,845
- Gross operating margin +€46,290
up €46,290 (+273.1%), from €16,951 to €63,241
- Taxes +€9,800
up €9,800 (+308.2%), from €3,180 to €12,980
- Staff costs +€1,210
up €1,210 (+151.3%), from €800 to €2,010
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 | €86,577 | €36,074 | -€50,504 | -58.3% |
| Fixed assets | 21/28 | €2,881 | €2,452 | -€429 | -14.9% |
| Tangible fixed assets | 22/27 | €2,731 | €2,302 | -€429 | -15.7% |
| Furniture and vehicles | 24 | €2,731 | €2,302 | -€429 | -15.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €83,696 | €33,622 | -€50,075 | -59.8% |
| Amounts receivable within one year | 40/41 | €14,292 | €12,998 | -€1,295 | -9.1% |
| Trade receivables | 40 | €11,972 | €10,677 | -€1,295 | -10.8% |
| Other amounts receivable | 41 | €2,320 | €2,320 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,774 | €19,215 | -€48,559 | -71.6% |
| Deferred charges and accrued income | 490/1 | €1,631 | €1,409 | -€221 | -13.6% |
| Total equity and liabilities | 10/49 | €86,577 | €36,074 | -€50,504 | -58.3% |
| Equity | 10/15 | €76,948 | -€1,389 | -€78,337 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,448 | -€3,889 | -€78,337 | |
| Amounts payable | 17/49 | €9,629 | €37,463 | +€27,833 | +289.0% |
| Amounts payable within one year | 42/48 | €9,629 | €37,463 | +€27,833 | +289.0% |
| Trade debts | 44 | €2,046 | €3,677 | +€1,631 | +79.7% |
| Suppliers | 440/4 | €2,046 | €3,677 | +€1,631 | +79.7% |
| Taxes, remuneration and social security | 45 | €4,872 | €29,940 | +€25,068 | +514.5% |
| Taxes | 450/3 | €4,872 | €29,940 | +€25,068 | +514.5% |
| Other amounts payable | 47/48 | €2,711 | €3,845 | +€1,134 | +41.8% |
| Remuneration, social security and pensions | 62 | €800 | €2,010 | +€1,210 | +151.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €821 | €1,422 | +€601 | +73.2% |
| Other operating charges | 640/8 | €869 | €501 | -€369 | -42.4% |
| Gross operating margin | 9900 | €16,951 | €63,241 | +€46,290 | +273.1% |
| Operating profit (loss) | 9901 | €14,460 | €59,308 | +€44,848 | +310.1% |
| Financial income | 75/76B | €50 | €125 | +€75 | +149.0% |
| Recurring financial income | 75 | €50 | €125 | +€75 | +149.0% |
| Financial charges | 65/66B | €87 | €84 | -€2 | -2.7% |
| Recurring financial charges | 65 | €87 | €84 | -€2 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €14,424 | €59,349 | +€44,925 | +311.5% |
| Income taxes | 67/77 | €3,180 | €12,980 | +€9,800 | +308.2% |
| Profit (loss) for the period | 9904 | €11,244 | €46,369 | +€35,125 | +312.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,244 | €46,369 | +€35,125 | +312.4% |
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 8 October 2026 via checked.be.