HAMMWÖHNER 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.
HAMMWÖHNER LAW
Largest movements
- Receivables within one year +€68,322
up €68,322 (+150%), from €45,491 to €113,813
- Tangible fixed assets +€47,850
up €47,850 (+13,457%), from €356 to €48,205
- Cash +€44,431
up €44,431 (+11.9%), from €374,601 to €419,033
mainly Other debts (+€441,014) and Net result for the year (+€173,160)
- Other debts +€441,014
up €441,014 (+10,959%), from €4,024 to €445,038
- Profit (loss) carried forward -€344,031
no longer reported in 2025 (was €344,031)
- Tax, wage and social debts +€64,538
up €64,538 (+97.2%), from €66,393 to €130,931
- Gross operating margin +€87,579
up €87,579 (+59.2%), from €148,006 to €235,585
- Taxes +€21,073
up €21,073 (+65.8%), from €32,014 to €53,086
- Depreciation +€10,051
up €10,051 (+3,020%), from €333 to €10,384
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 | €420,448 | €582,094 | +€161,646 | +38.4% |
| Fixed assets | 21/28 | €356 | €48,205 | +€47,850 | +13,457% |
| Tangible fixed assets | 22/27 | €356 | €48,205 | +€47,850 | +13,457% |
| Furniture and vehicles | 24 | €356 | €48,205 | +€47,850 | +13,457% |
| Current assets | 29/58 | €420,092 | €533,888 | +€113,796 | +27.1% |
| Amounts receivable within one year | 40/41 | €45,491 | €113,813 | +€68,322 | +150% |
| Trade receivables | 40 | €45,491 | €113,813 | +€68,322 | +150% |
| Cash at bank and in hand | 54/58 | €374,601 | €419,033 | +€44,431 | +11.9% |
| Deferred charges and accrued income | 490/1 | - | €1,043 | +€1,043 | |
| Total equity and liabilities | 10/49 | €420,448 | €582,094 | +€161,646 | +38.4% |
| Equity | 10/15 | €349,031 | €5,000 | -€344,031 | -98.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €344,031 | - | -€344,031 | |
| Amounts payable | 17/49 | €71,417 | €577,094 | +€505,677 | +708% |
| Amounts payable within one year | 42/48 | €71,417 | €577,094 | +€505,677 | +708% |
| Trade debts | 44 | €1,000 | €1,125 | +€125 | +12.5% |
| Suppliers | 440/4 | €1,000 | €1,125 | +€125 | +12.5% |
| Taxes, remuneration and social security | 45 | €66,393 | €130,931 | +€64,538 | +97.2% |
| Taxes | 450/3 | €66,393 | €130,931 | +€64,538 | +97.2% |
| Other amounts payable | 47/48 | €4,024 | €445,038 | +€441,014 | +10,959% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333 | €10,384 | +€10,051 | +3,020% |
| Other operating charges | 640/8 | - | €578 | +€578 | |
| Gross operating margin | 9900 | €148,006 | €235,585 | +€87,579 | +59.2% |
| Operating profit (loss) | 9901 | €147,673 | €224,622 | +€76,949 | +52.1% |
| Financial income | 75/76B | €685 | €1,679 | +€995 | +145% |
| Recurring financial income | 75 | €685 | €1,679 | +€995 | +145% |
| Financial charges | 65/66B | €686 | €55 | -€631 | -91.9% |
| Recurring financial charges | 65 | €686 | €55 | -€631 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | €147,672 | €226,246 | +€78,575 | +53.2% |
| Income taxes | 67/77 | €32,014 | €53,086 | +€21,073 | +65.8% |
| Profit (loss) for the period | 9904 | €115,658 | €173,160 | +€57,502 | +49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,658 | €173,160 | +€57,502 | +49.7% |
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 29 October 2026 via checked.be.