FORE 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.
FORE LAW
Largest movements
- Receivables within one year +€20,793
up €20,793 (+1608.1%), from €1,293 to €22,086
of which Trade receivables: +€10,859
- Cash -€4,606
down €4,606 (-26.5%), from €17,414 to €12,807
mainly Receivables within one year (-€20,793) and Deferred charges and accrued income (-€1,143)
- Deferred charges and accrued income +€1,143
up €1,143 (+699.3%), from €164 to €1,307
- Tangible fixed assets -€781
down €781 (-26.0%), from €3,002 to €2,221
- Reserves +€13,095
up €13,095 (+203.9%), from €6,422 to €19,517
- Tax, wage and social debts +€1,262
up €1,262 (+13.7%), from €9,240 to €10,502
- Short-term financial debts +€1,250
new in 2025: €1,250
- Trade debts +€943
up €943 (+55.2%), from €1,710 to €2,653
- Gross operating margin +€7,029
up €7,029 (+52.6%), from €13,374 to €20,403
- Financial charges +€1,727
up €1,727 (+217.0%), from €796 to €2,522
- Other operating charges +€857
up €857 (+300.2%), from €285 to €1,142
- Financial income +€515
up €515 (+1638.2%), from €31 to €546
- Depreciation +€272
up €272 (+53.5%), from €508 to €781
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 | €21,872 | €38,421 | +€16,550 | +75.7% |
| Fixed assets | 21/28 | €3,002 | €2,221 | -€781 | -26.0% |
| Tangible fixed assets | 22/27 | €3,002 | €2,221 | -€781 | -26.0% |
| Furniture and vehicles | 24 | €3,002 | €2,221 | -€781 | -26.0% |
| Current assets | 29/58 | €18,870 | €36,200 | +€17,330 | +91.8% |
| Amounts receivable within one year | 40/41 | €1,293 | €22,086 | +€20,793 | +1608.1% |
| Trade receivables | 40 | €609 | €11,468 | +€10,859 | +1782.5% |
| Other amounts receivable | 41 | €684 | €10,618 | +€9,934 | +1452.8% |
| Cash at bank and in hand | 54/58 | €17,414 | €12,807 | -€4,606 | -26.5% |
| Deferred charges and accrued income | 490/1 | €164 | €1,307 | +€1,143 | +699.3% |
| Total equity and liabilities | 10/49 | €21,872 | €38,421 | +€16,550 | +75.7% |
| Equity | 10/15 | €9,422 | €22,517 | +€13,095 | +139.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €6,422 | €19,517 | +€13,095 | +203.9% |
| Distributable reserves | 133 | €6,422 | €19,517 | +€13,095 | +203.9% |
| Amounts payable | 17/49 | €12,450 | €15,905 | +€3,455 | +27.8% |
| Amounts payable within one year | 42/48 | €10,950 | €14,405 | +€3,455 | +31.6% |
| Financial debts | 43 | - | €1,250 | +€1,250 | |
| Credit institutions | 430/8 | - | €1,250 | +€1,250 | |
| Trade debts | 44 | €1,710 | €2,653 | +€943 | +55.2% |
| Suppliers | 440/4 | €1,710 | €2,653 | +€943 | +55.2% |
| Taxes, remuneration and social security | 45 | €9,240 | €10,502 | +€1,262 | +13.7% |
| Taxes | 450/3 | €9,240 | €10,502 | +€1,262 | +13.7% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €508 | €781 | +€272 | +53.5% |
| Other operating charges | 640/8 | €285 | €1,142 | +€857 | +300.2% |
| Gross operating margin | 9900 | €13,374 | €20,403 | +€7,029 | +52.6% |
| Operating profit (loss) | 9901 | €12,580 | €18,481 | +€5,900 | +46.9% |
| Financial income | 75/76B | €31 | €546 | +€515 | +1638.2% |
| Recurring financial income | 75 | €31 | €546 | +€515 | +1638.2% |
| Financial charges | 65/66B | €796 | €2,522 | +€1,727 | +217.0% |
| Recurring financial charges | 65 | €796 | €2,522 | +€1,727 | +217.0% |
| Profit (loss) for the period before taxes | 9903 | €11,816 | €16,504 | +€4,688 | +39.7% |
| Income taxes | 67/77 | €4,023 | €4,027 | +€4 | +0.1% |
| Profit (loss) for the period | 9904 | €7,793 | €12,477 | +€4,684 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,793 | €12,477 | +€4,684 | +60.1% |
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.