HALSTEN 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.
HALSTEN LAW
Largest movements
- Cash +€53,492
up €53,492 (+168.8%), from €31,698 to €85,189
mainly Receivables within one year (+€30,009) and Net result for the year (+€28,869)
- Receivables within one year -€30,009
down €30,009 (-52.7%), from €56,964 to €26,955
of which Trade receivables: -€28,849
- Profit (loss) carried forward +€28,869
up €28,869, from -€6,679 to €22,191
- Trade debts -€11,165
down €11,165 (-26.1%), from €42,847 to €31,681
- Tax, wage and social debts +€7,432
up €7,432 (+250.5%), from €2,967 to €10,398
- Accrued charges and deferred income -€2,473
down €2,473 (-100.0%), from €2,473 to €0
- Staff costs -€31,690
down €31,690 (-99.1%), from €31,993 to €303
- Gross operating margin +€11,691
up €11,691 (+43.6%), from €26,831 to €38,522
- Taxes +€7,985
new in 2025: €7,985
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 | €91,608 | €114,270 | +€22,663 | +24.7% |
| Fixed assets | 21/28 | €2,792 | €1,890 | -€902 | -32.3% |
| Tangible fixed assets | 22/27 | €1,531 | €796 | -€735 | -48.0% |
| Other tangible fixed assets | 26 | €1,531 | €796 | -€735 | -48.0% |
| Financial fixed assets | 28 | €1,261 | €1,094 | -€167 | -13.2% |
| Current assets | 29/58 | €88,816 | €112,380 | +€23,565 | +26.5% |
| Amounts receivable within one year | 40/41 | €56,964 | €26,955 | -€30,009 | -52.7% |
| Trade receivables | 40 | €54,166 | €25,317 | -€28,849 | -53.3% |
| Other amounts receivable | 41 | €2,798 | €1,638 | -€1,160 | -41.4% |
| Cash at bank and in hand | 54/58 | €31,698 | €85,189 | +€53,492 | +168.8% |
| Deferred charges and accrued income | 490/1 | €154 | €236 | +€82 | +53.1% |
| Total equity and liabilities | 10/49 | €91,608 | €114,270 | +€22,663 | +24.7% |
| Equity | 10/15 | €43,321 | €72,191 | +€28,869 | +66.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,679 | €22,191 | +€28,869 | |
| Amounts payable | 17/49 | €48,286 | €42,080 | -€6,207 | -12.9% |
| Amounts payable within one year | 42/48 | €45,813 | €42,080 | -€3,734 | -8.1% |
| Trade debts | 44 | €42,847 | €31,681 | -€11,165 | -26.1% |
| Suppliers | 440/4 | €42,847 | €31,681 | -€11,165 | -26.1% |
| Taxes, remuneration and social security | 45 | €2,967 | €10,398 | +€7,432 | +250.5% |
| Taxes | 450/3 | €2,967 | €10,398 | +€7,432 | +250.5% |
| Accrued charges and deferred income | 492/3 | €2,473 | €0 | -€2,473 | -100.0% |
| Remuneration, social security and pensions | 62 | €31,993 | €303 | -€31,690 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €674 | €735 | +€61 | +9.1% |
| Other operating charges | 640/8 | €649 | €394 | -€255 | -39.3% |
| Gross operating margin | 9900 | €26,831 | €38,522 | +€11,691 | +43.6% |
| Operating profit (loss) | 9901 | -€6,485 | €37,090 | +€43,574 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.9% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.9% |
| Financial charges | 65/66B | €204 | €235 | +€31 | +15.2% |
| Recurring financial charges | 65 | €204 | €235 | +€31 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,679 | €36,854 | +€43,533 | |
| Income taxes | 67/77 | - | €7,985 | +€7,985 | |
| Profit (loss) for the period | 9904 | -€6,679 | €28,869 | +€35,548 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,679 | €28,869 | +€35,548 |
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 6 October 2026 via checked.be.