HC - 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.
HC - LAW
Largest movements
- Receivables within one year +€23,638
up €23,638 (+38.7%), from €61,096 to €84,734
of which Other amounts receivable: +€28,202
- Cash +€20,794
up €20,794 (+849%), from €2,450 to €23,244
mainly Net result for the year (+€62,613) and Other debts (+€40,000)
- Tangible fixed assets -€13,680
down €13,680 (-28.0%), from €48,905 to €35,225
of which Furniture and vehicles: -€13,187
- Receivables after one year +€12,995
up €12,995 (+13.1%), from €99,031 to €112,026
- Current investments +€6,110
up €6,110 (+83.7%), from €7,300 to €13,410
- Other debts +€40,000
new in 2025: €40,000
- Debts after one year -€30,049
down €30,049 (-60.4%), from €49,710 to €19,660
- Reserves +€22,613
up €22,613 (+17.2%), from €131,235 to €153,848
- Tax, wage and social debts +€14,637
up €14,637 (+58.7%), from €24,953 to €39,590
- Gross operating margin +€33,228
up €33,228 (+54.3%), from €61,206 to €94,435
- Taxes +€6,727
up €6,727 (+60.3%), from €11,147 to €17,874
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 | €224,324 | €272,269 | +€47,945 | +21.4% |
| Fixed assets | 21/28 | €48,905 | €35,225 | -€13,680 | -28.0% |
| Tangible fixed assets | 22/27 | €48,905 | €35,225 | -€13,680 | -28.0% |
| Furniture and vehicles | 24 | €45,939 | €32,752 | -€13,187 | -28.7% |
| Other tangible fixed assets | 26 | €2,966 | €2,474 | -€492 | -16.6% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €175,419 | €237,044 | +€61,625 | +35.1% |
| Amounts receivable after more than one year | 29 | €99,031 | €112,026 | +€12,995 | +13.1% |
| Trade receivables | 290 | €99,031 | €112,026 | +€12,995 | +13.1% |
| Amounts receivable within one year | 40/41 | €61,096 | €84,734 | +€23,638 | +38.7% |
| Trade receivables | 40 | €56,000 | €51,436 | -€4,564 | -8.1% |
| Other amounts receivable | 41 | €5,096 | €33,298 | +€28,202 | +553% |
| Current investments | 50/53 | €7,300 | €13,410 | +€6,110 | +83.7% |
| Cash at bank and in hand | 54/58 | €2,450 | €23,244 | +€20,794 | +849% |
| Deferred charges and accrued income | 490/1 | €5,541 | €3,630 | -€1,912 | -34.5% |
| Total equity and liabilities | 10/49 | €224,324 | €272,269 | +€47,945 | +21.4% |
| Equity | 10/15 | €136,235 | €158,848 | +€22,613 | +16.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €131,235 | €153,848 | +€22,613 | +17.2% |
| Distributable reserves | 133 | €131,235 | €153,848 | +€22,613 | +17.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €88,089 | €113,421 | +€25,332 | +28.8% |
| Amounts payable after more than one year | 17 | €49,710 | €19,660 | -€30,049 | -60.4% |
| Financial debts | 170/4 | €49,710 | €19,660 | -€30,049 | -60.4% |
| Amounts payable within one year | 42/48 | €38,379 | €93,761 | +€55,382 | +144% |
| Current portion of amounts payable after more than one year | 42 | €9,434 | €9,846 | +€413 | +4.4% |
| Financial debts | 43 | €1,671 | €2,946 | +€1,276 | +76.3% |
| Credit institutions | 430/8 | €1,671 | €2,946 | +€1,276 | +76.3% |
| Trade debts | 44 | €2,321 | €1,378 | -€943 | -40.6% |
| Suppliers | 440/4 | €2,321 | €1,378 | -€943 | -40.6% |
| Taxes, remuneration and social security | 45 | €24,953 | €39,590 | +€14,637 | +58.7% |
| Taxes | 450/3 | €24,953 | €39,590 | +€14,637 | +58.7% |
| Other amounts payable | 47/48 | - | €40,000 | +€40,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,957 | €13,680 | -€277 | -2.0% |
| Other operating charges | 640/8 | €1,876 | €1,563 | -€312 | -16.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €61,206 | €94,435 | +€33,228 | +54.3% |
| Operating profit (loss) | 9901 | €45,373 | €79,192 | +€33,818 | +74.5% |
| Financial income | 75/76B | €4,177 | €3,444 | -€733 | -17.5% |
| Recurring financial income | 75 | €4,177 | €3,444 | -€733 | -17.5% |
| Financial charges | 65/66B | €1,971 | €2,149 | +€178 | +9.0% |
| Recurring financial charges | 65 | €1,971 | €2,149 | +€178 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €47,580 | €80,487 | +€32,907 | +69.2% |
| Income taxes | 67/77 | €11,147 | €17,874 | +€6,727 | +60.3% |
| Profit (loss) for the period | 9904 | €36,432 | €62,613 | +€26,180 | +71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,432 | €62,613 | +€26,180 | +71.9% |
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 19 October 2026 via checked.be.