Law & Code: 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 & Code
Largest movements
- Financial fixed assets +€44,997
up €44,997 (+13.3%), from €337,830 to €382,827
- Receivables within one year -€13,450
down €13,450 (-7.8%), from €171,441 to €157,990
of which Other amounts receivable: -€15,862
- Reserves +€39,000
up €39,000 (+8.9%), from €440,200 to €479,200
of which Distributable reserves: +€39,000
- Trade debts -€7,309
down €7,309 (-66.5%), from €10,988 to €3,680
- Financial income -€155,104
down €155,104 (-74.6%), from €207,903 to €52,800
of which Financial income: -€204,701
- Turnover -€126,675
no longer reported in 2025 (was €126,675)
- Financial charges -€100,750
down €100,750 (-99.9%), from €100,858 to €108
- Gross operating margin -€72,147
down €72,147, from €59,483 to -€12,664
- Purchases and services -€54,528
down €54,528 (-81.2%), from €67,191 to €12,664
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 | €513,425 | €545,462 | +€32,037 | +6.2% |
| Fixed assets | 21/28 | €337,830 | €382,827 | +€44,997 | +13.3% |
| Financial fixed assets | 28 | €337,830 | €382,827 | +€44,997 | +13.3% |
| Current assets | 29/58 | €175,595 | €162,635 | -€12,960 | -7.4% |
| Amounts receivable within one year | 40/41 | €171,441 | €157,990 | -€13,450 | -7.8% |
| Trade receivables | 40 | - | €2,411 | +€2,411 | |
| Other amounts receivable | 41 | €171,441 | €155,579 | -€15,862 | -9.3% |
| Cash at bank and in hand | 54/58 | €4,155 | €4,593 | +€438 | +10.6% |
| Deferred charges and accrued income | 490/1 | - | €52 | +€52 | |
| Total equity and liabilities | 10/49 | €513,425 | €545,462 | +€32,037 | +6.2% |
| Equity | 10/15 | €502,437 | €541,782 | +€39,345 | +7.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €440,200 | €479,200 | +€39,000 | +8.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €434,000 | €473,000 | +€39,000 | +9.0% |
| Profit (loss) carried forward | 14 | €237 | €582 | +€345 | +145.6% |
| Amounts payable | 17/49 | €10,988 | €3,680 | -€7,309 | -66.5% |
| Amounts payable within one year | 42/48 | €10,988 | €3,680 | -€7,309 | -66.5% |
| Trade debts | 44 | €10,988 | €3,680 | -€7,309 | -66.5% |
| Suppliers | 440/4 | €10,988 | €3,680 | -€7,309 | -66.5% |
| Turnover | 70 | €126,675 | - | -€126,675 | |
| Goods, raw materials, services and sundry goods | 60/61 | €67,191 | €12,664 | -€54,528 | -81.2% |
| Other operating charges | 640/8 | €665 | €682 | +€17 | +2.6% |
| Gross operating margin | 9900 | €59,483 | -€12,664 | -€72,147 | |
| Operating profit (loss) | 9901 | €58,818 | -€13,346 | -€72,164 | |
| Financial income | 75/76B | €207,903 | €52,800 | -€155,104 | -74.6% |
| Recurring financial income | 75 | €207,903 | €3,203 | -€204,701 | -98.5% |
| Non-recurring financial income | 76B | - | €49,597 | +€49,597 | |
| Financial charges | 65/66B | €100,858 | €108 | -€100,750 | -99.9% |
| Recurring financial charges | 65 | €100,858 | €108 | -€100,750 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €165,863 | €39,345 | -€126,518 | -76.3% |
| Profit (loss) for the period | 9904 | €165,863 | €39,345 | -€126,518 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €165,863 | €39,345 | -€126,518 | -76.3% |
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 10 October 2026 via checked.be.