LAWSJE: 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.
LAWSJE
Largest movements
- Tangible fixed assets +€639,323
up €639,323 (+963%), from €66,372 to €705,695
of which Assets under construction and advance payments: +€638,142
- Receivables within one year +€45,682
up €45,682 (+2,276%), from €2,007 to €47,688
- Cash -€21,508
down €21,508 (-12.8%), from €167,525 to €146,017
mainly Investment in fixed assets (net) (-€639,345) and Receivables within one year (-€45,682)
- Debts after one year +€517,794
up €517,794 (+190%), from €272,905 to €790,699
- Profit (loss) carried forward +€87,255
up €87,255 (+65.9%), from €132,489 to €219,744
- Trade debts +€46,897
up €46,897 (+2,445%), from €1,918 to €48,815
- Current portion of long-term debt +€27,277
up €27,277 (+53.4%), from €51,052 to €78,329
- Other debts -€21,626
down €21,626 (-24.1%), from €89,571 to €67,945
- Financial income +€21,898
up €21,898 (+2,581%), from €848 to €22,747
- Financial charges +€10,212
up €10,212 (+92.2%), from €11,078 to €21,290
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 | €609,821 | €1,271,401 | +€661,579 | +108% |
| Fixed assets | 21/28 | €438,372 | €1,077,695 | +€639,323 | +146% |
| Tangible fixed assets | 22/27 | €66,372 | €705,695 | +€639,323 | +963% |
| Furniture and vehicles | 24 | - | €1,181 | +€1,181 | |
| Assets under construction and advance payments | 27 | €66,372 | €704,514 | +€638,142 | +961% |
| Financial fixed assets | 28 | €372,000 | €372,000 | = | 0.0% |
| Current assets | 29/58 | €171,449 | €193,705 | +€22,256 | +13.0% |
| Amounts receivable within one year | 40/41 | €2,007 | €47,688 | +€45,682 | +2,276% |
| Trade receivables | 40 | €2,007 | €47,688 | +€45,682 | +2,276% |
| Cash at bank and in hand | 54/58 | €167,525 | €146,017 | -€21,508 | -12.8% |
| Deferred charges and accrued income | 490/1 | €1,918 | - | -€1,918 | |
| Total equity and liabilities | 10/49 | €609,821 | €1,271,401 | +€661,579 | +108% |
| Equity | 10/15 | €137,489 | €224,744 | +€87,255 | +63.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,489 | €219,744 | +€87,255 | +65.9% |
| Amounts payable | 17/49 | €472,333 | €1,046,656 | +€574,324 | +122% |
| Amounts payable after more than one year | 17 | €272,905 | €790,699 | +€517,794 | +190% |
| Financial debts | 170/4 | €272,905 | €790,699 | +€517,794 | +190% |
| Amounts payable within one year | 42/48 | €197,838 | €253,390 | +€55,553 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €51,052 | €78,329 | +€27,277 | +53.4% |
| Trade debts | 44 | €1,918 | €48,815 | +€46,897 | +2,445% |
| Suppliers | 440/4 | €1,918 | €48,815 | +€46,897 | +2,445% |
| Taxes, remuneration and social security | 45 | €55,296 | €58,301 | +€3,005 | +5.4% |
| Taxes | 450/3 | €53,296 | €56,301 | +€3,005 | +5.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €89,571 | €67,945 | -€21,626 | -24.1% |
| Accrued charges and deferred income | 492/3 | €1,590 | €2,567 | +€977 | +61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €22 | +€22 | |
| Other operating charges | 640/8 | €778 | €400 | -€378 | -48.6% |
| Gross operating margin | 9900 | €109,982 | €110,328 | +€345 | +0.3% |
| Operating profit (loss) | 9901 | €109,205 | €109,906 | +€702 | +0.6% |
| Financial income | 75/76B | €848 | €22,747 | +€21,898 | +2,581% |
| Recurring financial income | 75 | €848 | €22,747 | +€21,898 | +2,581% |
| Financial charges | 65/66B | €11,078 | €21,290 | +€10,212 | +92.2% |
| Recurring financial charges | 65 | €11,078 | €21,290 | +€10,212 | +92.2% |
| Profit (loss) for the period before taxes | 9903 | €98,975 | €111,363 | +€12,388 | +12.5% |
| Income taxes | 67/77 | €25,074 | €24,107 | -€967 | -3.9% |
| Profit (loss) for the period | 9904 | €73,901 | €87,255 | +€13,355 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,901 | €87,255 | +€13,355 | +18.1% |
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.