LAW 129: 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.
LAW 129
Largest movements
- Current investments +€99,850
new in 2025: €99,850
- Cash -€77,465
down €77,465 (-57.0%), from €135,950 to €58,485
mainly Current investments (-€99,850) and Debts after one year (-€37,996)
- Intangible fixed assets -€35,000
down €35,000 (-21.0%), from €166,346 to €131,346
- Receivables within one year -€11,686
down €11,686 (-19.8%), from €59,018 to €47,333
of which Trade receivables: -€7,365
- Debts after one year -€37,996
down €37,996 (-21.4%), from €177,179 to €139,183
- Other debts -€13,503
down €13,503 (-30.6%), from €44,186 to €30,683
- Trade debts +€13,289
up €13,289 (+9.6%), from €138,653 to €151,943
- Reserves +€11,739
up €11,739 (+46.4%), from €25,284 to €37,023
- Gross operating margin +€9,317
up €9,317 (+9.0%), from €103,275 to €112,591
- Taxes +€7,040
up €7,040 (+4,886%), from €144 to €7,184
- Staff costs -€3,919
down €3,919 (-10.3%), from €38,011 to €34,093
- Financial income +€3,490
new in 2025: €3,490
- Depreciation -€1,673
down €1,673 (-2.9%), from €58,269 to €56,596
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 | €438,671 | €411,174 | -€27,497 | -6.3% |
| Fixed assets | 21/28 | €240,720 | €202,132 | -€38,588 | -16.0% |
| Intangible fixed assets | 21 | €166,346 | €131,346 | -€35,000 | -21.0% |
| Tangible fixed assets | 22/27 | €74,199 | €70,611 | -€3,588 | -4.8% |
| Plant, machinery and equipment | 23 | €317 | €106 | -€211 | -66.6% |
| Furniture and vehicles | 24 | €30,846 | €21,055 | -€9,791 | -31.7% |
| Other tangible fixed assets | 26 | €43,036 | €49,451 | +€6,414 | +14.9% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €197,951 | €209,042 | +€11,091 | +5.6% |
| Amounts receivable within one year | 40/41 | €59,018 | €47,333 | -€11,686 | -19.8% |
| Trade receivables | 40 | €54,661 | €47,296 | -€7,365 | -13.5% |
| Other amounts receivable | 41 | €4,357 | €36 | -€4,321 | -99.2% |
| Current investments | 50/53 | - | €99,850 | +€99,850 | |
| Cash at bank and in hand | 54/58 | €135,950 | €58,485 | -€77,465 | -57.0% |
| Deferred charges and accrued income | 490/1 | €2,983 | €3,374 | +€392 | +13.1% |
| Total equity and liabilities | 10/49 | €438,671 | €411,174 | -€27,497 | -6.3% |
| Equity | 10/15 | €32,187 | €43,926 | +€11,739 | +36.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €25,284 | €37,023 | +€11,739 | +46.4% |
| Distributable reserves | 133 | €25,284 | €37,023 | +€11,739 | +46.4% |
| Profit (loss) carried forward | 14 | -€5,497 | -€5,497 | = | 0.0% |
| Amounts payable | 17/49 | €406,484 | €367,248 | -€39,235 | -9.7% |
| Amounts payable after more than one year | 17 | €177,179 | €139,183 | -€37,996 | -21.4% |
| Financial debts | 170/4 | €177,179 | €139,183 | -€37,996 | -21.4% |
| Amounts payable within one year | 42/48 | €229,305 | €228,065 | -€1,239 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €37,238 | €37,996 | +€758 | +2.0% |
| Financial debts | 43 | €80 | - | -€80 | |
| Credit institutions | 430/8 | €80 | - | -€80 | |
| Trade debts | 44 | €138,653 | €151,943 | +€13,289 | +9.6% |
| Suppliers | 440/4 | €138,653 | €151,943 | +€13,289 | +9.6% |
| Taxes, remuneration and social security | 45 | €9,148 | €7,444 | -€1,704 | -18.6% |
| Taxes | 450/3 | €1,322 | €2,738 | +€1,416 | +107% |
| Remuneration and social security | 454/9 | €7,826 | €4,706 | -€3,120 | -39.9% |
| Other amounts payable | 47/48 | €44,186 | €30,683 | -€13,503 | -30.6% |
| Remuneration, social security and pensions | 62 | €38,011 | €34,093 | -€3,919 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,269 | €56,596 | -€1,673 | -2.9% |
| Other operating charges | 640/8 | €333 | €168 | -€165 | -49.5% |
| Non-recurring operating charges | 66A | - | €340 | +€340 | |
| Gross operating margin | 9900 | €103,275 | €112,591 | +€9,317 | +9.0% |
| Operating profit (loss) | 9901 | €6,661 | €21,394 | +€14,733 | +221% |
| Financial income | 75/76B | - | €3,490 | +€3,490 | |
| Recurring financial income | 75 | - | €3,490 | +€3,490 | |
| Financial charges | 65/66B | €6,537 | €5,961 | -€577 | -8.8% |
| Recurring financial charges | 65 | €6,537 | €5,861 | -€677 | -10.3% |
| Non-recurring financial charges | 66B | - | €100 | +€100 | |
| Profit (loss) for the period before taxes | 9903 | €124 | €18,923 | +€18,799 | +15,210% |
| Income taxes | 67/77 | €144 | €7,184 | +€7,040 | +4,886% |
| Profit (loss) for the period | 9904 | -€20 | €11,739 | +€11,759 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20 | €11,739 | +€11,759 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.