LAWRENCE FREEMAN: 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.
LAWRENCE FREEMAN
Largest movements
- Receivables within one year -€39,998
down €39,998 (-82.4%), from €48,561 to €8,563
of which Other amounts receivable: -€39,998
- Cash +€15,032
up €15,032 (+50.1%), from €29,977 to €45,009
mainly Receivables within one year (+€39,998) and Net result for the year (+€15,558)
- Other debts -€14,000
down €14,000 (-57.1%), from €24,500 to €10,500
- Tax, wage and social debts -€7,168
down €7,168 (-31.0%), from €23,150 to €15,982
of which Taxes: -€7,168
- Trade debts -€3,848
down €3,848 (-60.5%), from €6,365 to €2,517
- Gross operating margin -€25,190
down €25,190 (-53.5%), from €47,108 to €21,919
- Taxes -€8,218
down €8,218 (-72.4%), from €11,352 to €3,134
- Other operating charges +€1,996
up €1,996 (+124%), from €1,613 to €3,609
- Depreciation -€840
down €840 (-80.7%), from €1,041 to €201
- Financial income -€637
down €637 (-42.9%), from €1,484 to €847
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 | €79,674 | €55,216 | -€24,458 | -30.7% |
| Fixed assets | 21/28 | €220 | €19 | -€201 | -91.3% |
| Tangible fixed assets | 22/27 | €220 | €19 | -€201 | -91.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €220 | €19 | -€201 | -91.3% |
| Current assets | 29/58 | €79,454 | €55,197 | -€24,257 | -30.5% |
| Amounts receivable within one year | 40/41 | €48,561 | €8,563 | -€39,998 | -82.4% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €48,561 | €8,563 | -€39,998 | -82.4% |
| Cash at bank and in hand | 54/58 | €29,977 | €45,009 | +€15,032 | +50.1% |
| Deferred charges and accrued income | 490/1 | €917 | €1,625 | +€709 | +77.3% |
| Total equity and liabilities | 10/49 | €79,674 | €55,216 | -€24,458 | -30.7% |
| Equity | 10/15 | €25,658 | €26,216 | +€558 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,198 | €5,756 | +€558 | +10.7% |
| Amounts payable | 17/49 | €54,016 | €29,000 | -€25,016 | -46.3% |
| Amounts payable within one year | 42/48 | €54,016 | €29,000 | -€25,016 | -46.3% |
| Trade debts | 44 | €6,365 | €2,517 | -€3,848 | -60.5% |
| Suppliers | 440/4 | €6,365 | €2,517 | -€3,848 | -60.5% |
| Taxes, remuneration and social security | 45 | €23,150 | €15,982 | -€7,168 | -31.0% |
| Taxes | 450/3 | €23,150 | €15,982 | -€7,168 | -31.0% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €24,500 | €10,500 | -€14,000 | -57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,041 | €201 | -€840 | -80.7% |
| Other operating charges | 640/8 | €1,613 | €3,609 | +€1,996 | +124% |
| Non-recurring operating charges | 66A | €0 | €53 | +€53 | |
| Gross operating margin | 9900 | €47,108 | €21,919 | -€25,190 | -53.5% |
| Operating profit (loss) | 9901 | €44,455 | €18,056 | -€26,399 | -59.4% |
| Financial income | 75/76B | €1,484 | €847 | -€637 | -42.9% |
| Recurring financial income | 75 | €1,484 | €847 | -€637 | -42.9% |
| Financial charges | 65/66B | €208 | €211 | +€3 | +1.4% |
| Recurring financial charges | 65 | €208 | €211 | +€3 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €45,731 | €18,692 | -€27,039 | -59.1% |
| Income taxes | 67/77 | €11,352 | €3,134 | -€8,218 | -72.4% |
| Profit (loss) for the period | 9904 | €34,379 | €15,558 | -€18,820 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,379 | €15,558 | -€18,820 | -54.7% |
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 16 October 2026 via checked.be.