LLAW: what changed
Two fiscal 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.
LLAW
Largest movements
- Receivables within one year -€46,431
down €46,431 (-98.9%), from €46,932 to €501
of which Trade receivables: -€46,420
- Tangible fixed assets -€24,843
down €24,843 (-2.4%), from €1.0m to €990,439
of which Land and buildings: -€23,707
- Cash -€18,430
down €18,430 (-99.7%), from €18,480 to €50
mainly Trade debts (-€57,687) and Net result for the year (-€32,504)
- Trade debts -€57,687
down €57,687 (-96.6%), from €59,717 to €2,029
- Other debts +€48,760
up €48,760 (+22.6%), from €215,958 to €264,718
- Profit (loss) carried forward -€32,504
down €32,504 (-183.3%), from -€17,728 to -€50,232
- Debts after one year -€32,417
down €32,417 (-4.6%), from €706,329 to €673,912
- Gross operating margin -€56,911
down €56,911 (-84.1%), from €67,694 to €10,783
- Depreciation +€1,639
up €1,639 (+7.1%), from €23,204 to €24,843
- Other operating charges -€946
down €946 (-88.2%), from €1,072 to €126
- Financial income -€709
down €709 (-97.9%), from €724 to €15
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 | €1,081,551 | €991,876 | -€89,675 | -8.3% |
| Fixed assets | 21/28 | €1,015,282 | €990,439 | -€24,843 | -2.4% |
| Tangible fixed assets | 22/27 | €1,015,282 | €990,439 | -€24,843 | -2.4% |
| Land and buildings | 22 | €1,013,424 | €989,717 | -€23,707 | -2.3% |
| Furniture and vehicles | 24 | €1,859 | €722 | -€1,136 | -61.1% |
| Current assets | 29/58 | €66,269 | €1,437 | -€64,832 | -97.8% |
| Amounts receivable within one year | 40/41 | €46,932 | €501 | -€46,431 | -98.9% |
| Trade receivables | 40 | €46,917 | €497 | -€46,420 | -98.9% |
| Other amounts receivable | 41 | €15 | €3 | -€11 | -77.6% |
| Cash at bank and in hand | 54/58 | €18,480 | €50 | -€18,430 | -99.7% |
| Deferred charges and accrued income | 490/1 | €857 | €886 | +€29 | +3.4% |
| Total equity and liabilities | 10/49 | €1,081,551 | €991,876 | -€89,675 | -8.3% |
| Equity | 10/15 | €49,791 | €17,287 | -€32,504 | -65.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,919 | €48,919 | = | 0.0% |
| Distributable reserves | 133 | €48,919 | €48,919 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,728 | -€50,232 | -€32,504 | -183.3% |
| Amounts payable | 17/49 | €1,031,760 | €974,589 | -€57,171 | -5.5% |
| Amounts payable after more than one year | 17 | €706,329 | €673,912 | -€32,417 | -4.6% |
| Financial debts | 170/4 | €706,329 | €673,912 | -€32,417 | -4.6% |
| Amounts payable within one year | 42/48 | €325,431 | €300,677 | -€24,754 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €42,981 | €32,417 | -€10,564 | -24.6% |
| Trade debts | 44 | €59,717 | €2,029 | -€57,687 | -96.6% |
| Suppliers | 440/4 | €59,717 | €2,029 | -€57,687 | -96.6% |
| Taxes, remuneration and social security | 45 | €6,775 | €1,512 | -€5,263 | -77.7% |
| Taxes | 450/3 | €6,775 | €1,512 | -€5,263 | -77.7% |
| Other amounts payable | 47/48 | €215,958 | €264,718 | +€48,760 | +22.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,204 | €24,843 | +€1,639 | +7.1% |
| Other operating charges | 640/8 | €1,072 | €126 | -€946 | -88.2% |
| Gross operating margin | 9900 | €67,694 | €10,783 | -€56,911 | -84.1% |
| Operating profit (loss) | 9901 | €43,418 | -€14,186 | -€57,604 | |
| Financial income | 75/76B | €724 | €15 | -€709 | -97.9% |
| Recurring financial income | 75 | €724 | €15 | -€709 | -97.9% |
| Financial charges | 65/66B | €18,345 | €18,333 | -€12 | -0.1% |
| Recurring financial charges | 65 | €18,345 | €18,333 | -€12 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €25,797 | -€32,504 | -€58,301 | |
| Profit (loss) for the period | 9904 | €25,797 | -€32,504 | -€58,301 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,797 | -€32,504 | -€58,301 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.