MA-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.
MA-LAW
Largest movements
- Cash +€65,952
up €65,952 (+40.2%), from €164,187 to €230,139
mainly Net result for the year (+€149,514) and Other debts (+€94,331)
- Receivables within one year +€19,804
up €19,804 (+26.2%), from €75,466 to €95,270
of which Trade receivables: +€21,657
- Other debts +€94,331
up €94,331 (+171%), from €55,183 to €149,514
- Accrued charges and deferred income -€24,987
down €24,987 (-99.8%), from €25,039 to €52
- Tax, wage and social debts +€18,321
up €18,321 (+104%), from €17,689 to €36,011
- Gross operating margin +€50,520
up €50,520 (+32.3%), from €156,577 to €207,097
- Taxes +€13,528
up €13,528 (+38.2%), from €35,429 to €48,957
- Financial income -€2,173
down €2,173 (-59.8%), from €3,632 to €1,459
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 | €281,957 | €367,862 | +€85,905 | +30.5% |
| Fixed assets | 21/28 | €9,127 | €7,438 | -€1,689 | -18.5% |
| Tangible fixed assets | 22/27 | €9,127 | €7,438 | -€1,689 | -18.5% |
| Plant, machinery and equipment | 23 | €1,926 | €2,993 | +€1,066 | +55.3% |
| Furniture and vehicles | 24 | €7,201 | €4,446 | -€2,755 | -38.3% |
| Current assets | 29/58 | €272,830 | €360,423 | +€87,593 | +32.1% |
| Amounts receivable after more than one year | 29 | €27,898 | €29,035 | +€1,137 | +4.1% |
| Other amounts receivable | 291 | €27,898 | €29,035 | +€1,137 | +4.1% |
| Amounts receivable within one year | 40/41 | €75,466 | €95,270 | +€19,804 | +26.2% |
| Trade receivables | 40 | €53,013 | €74,670 | +€21,657 | +40.9% |
| Other amounts receivable | 41 | €22,453 | €20,600 | -€1,853 | -8.3% |
| Cash at bank and in hand | 54/58 | €164,187 | €230,139 | +€65,952 | +40.2% |
| Deferred charges and accrued income | 490/1 | €5,279 | €5,980 | +€701 | +13.3% |
| Total equity and liabilities | 10/49 | €281,957 | €367,862 | +€85,905 | +30.5% |
| Equity | 10/15 | €179,328 | €179,328 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €169,328 | €169,328 | = | 0.0% |
| Distributable reserves | 133 | €169,328 | €169,328 | = | 0.0% |
| Amounts payable | 17/49 | €102,629 | €188,533 | +€85,905 | +83.7% |
| Amounts payable within one year | 42/48 | €77,590 | €188,482 | +€110,892 | +143% |
| Trade debts | 44 | €4,717 | €2,957 | -€1,760 | -37.3% |
| Suppliers | 440/4 | €4,717 | €2,957 | -€1,760 | -37.3% |
| Taxes, remuneration and social security | 45 | €17,689 | €36,011 | +€18,321 | +104% |
| Taxes | 450/3 | €17,689 | €36,011 | +€18,321 | +104% |
| Other amounts payable | 47/48 | €55,183 | €149,514 | +€94,331 | +171% |
| Accrued charges and deferred income | 492/3 | €25,039 | €52 | -€24,987 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,948 | €2,272 | -€676 | -22.9% |
| Other operating charges | 640/8 | €1,240 | €2,437 | +€1,198 | +96.6% |
| Gross operating margin | 9900 | €156,577 | €207,097 | +€50,520 | +32.3% |
| Operating profit (loss) | 9901 | €152,390 | €202,388 | +€49,999 | +32.8% |
| Financial income | 75/76B | €3,632 | €1,459 | -€2,173 | -59.8% |
| Recurring financial income | 75 | €3,632 | €1,459 | -€2,173 | -59.8% |
| Financial charges | 65/66B | €6,586 | €5,376 | -€1,210 | -18.4% |
| Recurring financial charges | 65 | €6,586 | €5,376 | -€1,210 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €149,436 | €198,472 | +€49,036 | +32.8% |
| Income taxes | 67/77 | €35,429 | €48,957 | +€13,528 | +38.2% |
| Profit (loss) for the period | 9904 | €114,007 | €149,514 | +€35,508 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €114,007 | €149,514 | +€35,508 | +31.1% |
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 29 October 2026 via checked.be.