FIRST LAW INTERNATIONAL: what changed
What changed
FIRST LAW INTERNATIONAL
NACE 69.109, Other legal services
filed annual accounts (NBB)
Net result for the year
€3.1m
2024 · €2.5m+€610,769
Equity
€2.1m
2024 · €6.4m-€4.3m
Cash
€826,153
2024 · €820,871+€5,282
Balance sheet total
€7.4m
2024 · €7.3m+€89,453
Largest movements
Assets
- Receivables after one year +€2.5m
up €2.5m (+1,667%), from €150,000 to €2.7m
- Current investments -€2.2m
down €2.2m (-53.6%), from €4.1m to €1.9m
- Receivables within one year -€166,054
down €166,054 (-8.6%), from €1.9m to €1.8m
of which Other amounts receivable: -€501,945
Equity and liabilities
- Reserves -€4.3m
down €4.3m (-66.9%), from €6.4m to €2.1m
of which Distributable reserves: -€4.3m
- Debts after one year +€2.5m
up €2.5m, from €0 to €2.5m
- Other debts +€1.8m
up €1.8m (+434%), from €403,722 to €2.2m
- Trade debts +€131,911
up €131,911 (+27.4%), from €481,878 to €613,789
Income statement
- Gross operating margin +€972,132
up €972,132 (+33.8%), from €2.9m to €3.8m
- Taxes +€278,189
up €278,189 (+69.7%), from €399,370 to €677,559
- Financial charges +€163,834
up €163,834 (+52.7%), from €311,026 to €474,860
- Staff costs -€97,509
down €97,509 (-40.7%), from €239,520 to €142,011
- Write-downs +€47,365
up €47,365, from -€15,365 to €32,000
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2.5m
Gross operating margin
+€972,132
Staff costs
+€97,509
Depreciation
+€918
Write-downs
-€47,365
Other operating charges
+€13,174
Financial income
+€16,424
Financial charges
-€163,834
Taxes
-€278,189
Result 2025
€3.1m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.7m
Investment
+€2.2m
Financing
-€4.9m
Cash 2024
€820,871
From operations (derived)
+€2.7m
Net result for the year
+€3.1m
Depreciation
+€68,794
Receivables after one year
-€2.5m
Receivables within one year
+€166,054
Smaller working-capital items
-€37,637
Trade debts
+€131,911
Other debts
+€1.8m
Investment (derived)
+€2.2m
Investment in fixed assets (net)
-€22,905
Current investments
+€2.2m
Financing
-€4.9m
Debts after one year
+€2.5m
Current portion of long-term debt
-€15,413
Contributions, distributions and other
-€7.4m
Cash 2025
€826,153
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,312,058 | €7,401,511 | +€89,453 | +1.2% |
| Fixed assets | 21/28 | €243,782 | €197,894 | -€45,889 | -18.8% |
| Intangible fixed assets | 21 | €56,479 | €44,638 | -€11,841 | -21.0% |
| Tangible fixed assets | 22/27 | €171,046 | €136,999 | -€34,047 | -19.9% |
| Furniture and vehicles | 24 | €171,046 | €136,999 | -€34,047 | -19.9% |
| Financial fixed assets | 28 | €16,257 | €16,257 | = | 0.0% |
| Current assets | 29/58 | €7,068,276 | €7,203,618 | +€135,342 | +1.9% |
| Amounts receivable after more than one year | 29 | €150,000 | €2,650,000 | +€2.5m | +1,667% |
| Other amounts receivable | 291 | €150,000 | €2,650,000 | +€2.5m | +1,667% |
| Amounts receivable within one year | 40/41 | €1,924,283 | €1,758,229 | -€166,054 | -8.6% |
| Trade receivables | 40 | €1,193,118 | €1,529,008 | +€335,891 | +28.2% |
| Other amounts receivable | 41 | €731,166 | €229,221 | -€501,945 | -68.6% |
| Current investments | 50/53 | €4,139,048 | €1,918,509 | -€2.2m | -53.6% |
| Cash at bank and in hand | 54/58 | €820,871 | €826,153 | +€5,282 | +0.6% |
| Deferred charges and accrued income | 490/1 | €34,074 | €50,727 | +€16,653 | +48.9% |
| Total equity and liabilities | 10/49 | €7,312,058 | €7,401,511 | +€89,453 | +1.2% |
| Equity | 10/15 | €6,371,449 | €2,113,181 | -€4.3m | -66.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,365,249 | €2,106,981 | -€4.3m | -66.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €842,000 | €842,000 | = | 0.0% |
| Distributable reserves | 133 | €5,521,394 | €1,263,126 | -€4.3m | -77.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €940,610 | €5,288,330 | +€4.3m | +462% |
| Amounts payable after more than one year | 17 | €0 | €2,500,000 | +€2.5m | |
| Financial debts | 170/4 | €0 | €2,500,000 | +€2.5m | |
| Amounts payable within one year | 42/48 | €932,626 | €2,788,330 | +€1.9m | +199% |
| Current portion of amounts payable after more than one year | 42 | €15,413 | €0 | -€15,413 | -100% |
| Trade debts | 44 | €481,878 | €613,789 | +€131,911 | +27.4% |
| Suppliers | 440/4 | €481,878 | €613,789 | +€131,911 | +27.4% |
| Taxes, remuneration and social security | 45 | €31,613 | €18,612 | -€13,001 | -41.1% |
| Taxes | 450/3 | €14,580 | €1,583 | -€12,996 | -89.1% |
| Remuneration and social security | 454/9 | €17,033 | €17,029 | -€4 | 0.0% |
| Other amounts payable | 47/48 | €403,722 | €2,155,929 | +€1.8m | +434% |
| Accrued charges and deferred income | 492/3 | €7,984 | €0 | -€7,984 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €239,520 | €142,011 | -€97,509 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,712 | €68,794 | -€918 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,365 | €32,000 | +€47,365 | |
| Other operating charges | 640/8 | €16,047 | €2,874 | -€13,174 | -82.1% |
| Gross operating margin | 9900 | €2,874,487 | €3,846,618 | +€972,132 | +33.8% |
| Operating profit (loss) | 9901 | €2,564,572 | €3,600,940 | +€1.0m | +40.4% |
| Financial income | 75/76B | €629,788 | €646,212 | +€16,424 | +2.6% |
| Recurring financial income | 75 | €629,788 | €646,212 | +€16,424 | +2.6% |
| Financial charges | 65/66B | €311,026 | €474,860 | +€163,834 | +52.7% |
| Recurring financial charges | 65 | €311,026 | €474,860 | +€163,834 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €2,883,334 | €3,772,292 | +€888,957 | +30.8% |
| Income taxes | 67/77 | €399,370 | €677,559 | +€278,189 | +69.7% |
| Profit (loss) for the period | 9904 | €2,483,964 | €3,094,733 | +€610,769 | +24.6% |
| Transfer to tax-exempt reserves | 689 | €842,000 | €0 | -€842,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,641,964 | €3,094,733 | +€1.5m | +88.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.