LEX & 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.
LEX & LAW
Largest movements
- Intangible fixed assets -€130,410
down €130,410 (-28.6%), from €456,434 to €326,024
- Tangible fixed assets +€92,932
up €92,932 (+5.9%), from €1.6m to €1.7m
of which Land and buildings: +€111,143
- Receivables within one year +€83,407
up €83,407 (+51.5%), from €162,069 to €245,476
of which Trade receivables: +€83,373
- Other debts +€226,717
up €226,717 (+355%), from €63,803 to €290,520
- Debts after one year -€179,651
down €179,651 (-14.6%), from €1.2m to €1.1m
- Reserves -€90,000
down €90,000 (-18.8%), from €479,360 to €389,360
- Tax, wage and social debts +€83,237
up €83,237 (+45.2%), from €184,275 to €267,511
of which Taxes: +€80,106
- Trade debts -€52,374
down €52,374 (-22.8%), from €229,926 to €177,552
- Gross operating margin +€388,865
up €388,865 (+40.7%), from €954,549 to €1.3m
- Taxes +€92,595
up €92,595 (+227%), from €40,805 to €133,399
- Other operating charges +€42,736
up €42,736 (+320%), from €13,345 to €56,081
- Staff costs +€31,339
up €31,339 (+5.4%), from €580,540 to €611,880
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 | €2,619,444 | €2,641,791 | +€22,347 | +0.9% |
| Fixed assets | 21/28 | €2,033,554 | €1,996,076 | -€37,477 | -1.8% |
| Intangible fixed assets | 21 | €456,434 | €326,024 | -€130,410 | -28.6% |
| Tangible fixed assets | 22/27 | €1,577,120 | €1,670,052 | +€92,932 | +5.9% |
| Land and buildings | 22 | €1,520,913 | €1,632,056 | +€111,143 | +7.3% |
| Furniture and vehicles | 24 | €56,206 | €37,996 | -€18,210 | -32.4% |
| Current assets | 29/58 | €585,891 | €645,715 | +€59,824 | +10.2% |
| Amounts receivable within one year | 40/41 | €162,069 | €245,476 | +€83,407 | +51.5% |
| Trade receivables | 40 | €162,069 | €245,442 | +€83,373 | +51.4% |
| Other amounts receivable | 41 | - | €34 | +€34 | |
| Cash at bank and in hand | 54/58 | €412,487 | €395,927 | -€16,561 | -4.0% |
| Deferred charges and accrued income | 490/1 | €11,334 | €4,312 | -€7,022 | -62.0% |
| Total equity and liabilities | 10/49 | €2,619,444 | €2,641,791 | +€22,347 | +0.9% |
| Equity | 10/15 | €723,091 | €637,261 | -€85,830 | -11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €479,360 | €389,360 | -€90,000 | -18.8% |
| Distributable reserves | 133 | €479,360 | €389,360 | -€90,000 | -18.8% |
| Profit (loss) carried forward | 14 | €225,131 | €229,301 | +€4,170 | +1.9% |
| Amounts payable | 17/49 | €1,896,353 | €2,004,530 | +€108,177 | +5.7% |
| Amounts payable after more than one year | 17 | €1,230,851 | €1,051,200 | -€179,651 | -14.6% |
| Financial debts | 170/4 | €1,230,851 | €1,051,200 | -€179,651 | -14.6% |
| Amounts payable within one year | 42/48 | €665,502 | €953,330 | +€287,828 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €187,499 | €217,747 | +€30,248 | +16.1% |
| Trade debts | 44 | €229,926 | €177,552 | -€52,374 | -22.8% |
| Suppliers | 440/4 | €229,926 | €177,552 | -€52,374 | -22.8% |
| Taxes, remuneration and social security | 45 | €184,275 | €267,511 | +€83,237 | +45.2% |
| Taxes | 450/3 | €120,423 | €200,529 | +€80,106 | +66.5% |
| Remuneration and social security | 454/9 | €63,851 | €66,982 | +€3,131 | +4.9% |
| Other amounts payable | 47/48 | €63,803 | €290,520 | +€226,717 | +355% |
| Remuneration, social security and pensions | 62 | €580,540 | €611,880 | +€31,339 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,492 | €230,412 | -€2,080 | -0.9% |
| Other operating charges | 640/8 | €13,345 | €56,081 | +€42,736 | +320% |
| Gross operating margin | 9900 | €954,549 | €1,343,414 | +€388,865 | +40.7% |
| Operating profit (loss) | 9901 | €128,172 | €445,041 | +€316,869 | +247% |
| Financial income | 75/76B | €14,928 | €26,758 | +€11,830 | +79.2% |
| Recurring financial income | 75 | €14,928 | €26,758 | +€11,830 | +79.2% |
| Financial charges | 65/66B | €29,713 | €24,230 | -€5,483 | -18.5% |
| Recurring financial charges | 65 | €29,713 | €24,230 | -€5,483 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €113,388 | €447,569 | +€334,182 | +295% |
| Income taxes | 67/77 | €40,805 | €133,399 | +€92,595 | +227% |
| Profit (loss) for the period | 9904 | €72,583 | €314,170 | +€241,587 | +333% |
| Profit (loss) for the period to be appropriated | 9905 | €72,583 | €314,170 | +€241,587 | +333% |
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 17 October 2026 via checked.be.