N-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.
N-LAW
Largest movements
- Receivables after one year +€84,423
up €84,423 (+241%), from €35,000 to €119,423
- Cash +€60,360
up €60,360 (+5,089%), from €1,186 to €61,546
mainly Net result for the year (+€186,705) and Investment in fixed assets (net) (+€31,820)
- Financial fixed assets -€32,959
down €32,959 (-26.4%), from €125,000 to €92,041
- Receivables within one year +€22,235
up €22,235 (+159%), from €13,990 to €36,226
of which Other amounts receivable: +€27,471
- Reserves +€186,705
up €186,705 (+389%), from €48,057 to €234,762
- Debts after one year -€44,731
down €44,731 (-49.1%), from €91,046 to €46,316
- Advances received -€6,047
down €6,047 (-100%), from €6,047 to €0
- Tax, wage and social debts -€4,369
down €4,369 (-93.9%), from €4,654 to €285
of which Taxes: -€2,527
- Financial income +€155,939
up €155,939 (+29,703%), from €525 to €156,464
- Gross operating margin +€27,992
up €27,992 (+151%), from €18,557 to €46,549
- Taxes +€5,446
up €5,446 (+198%), from €2,753 to €8,199
- Depreciation +€826
up €826 (+28.9%), from €2,855 to €3,681
- Financial charges +€499
up €499 (+16.5%), from €3,033 to €3,532
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 | €192,771 | €324,150 | +€131,379 | +68.2% |
| Fixed assets | 21/28 | €141,384 | €105,883 | -€35,501 | -25.1% |
| Tangible fixed assets | 22/27 | €16,384 | €13,842 | -€2,542 | -15.5% |
| Land and buildings | 22 | €4,744 | €4,240 | -€504 | -10.6% |
| Furniture and vehicles | 24 | €11,640 | €9,602 | -€2,038 | -17.5% |
| Financial fixed assets | 28 | €125,000 | €92,041 | -€32,959 | -26.4% |
| Current assets | 29/58 | €51,387 | €218,267 | +€166,880 | +325% |
| Amounts receivable after more than one year | 29 | €35,000 | €119,423 | +€84,423 | +241% |
| Other amounts receivable | 291 | €35,000 | €119,423 | +€84,423 | +241% |
| Amounts receivable within one year | 40/41 | €13,990 | €36,226 | +€22,235 | +159% |
| Trade receivables | 40 | €5,236 | €0 | -€5,236 | -100% |
| Other amounts receivable | 41 | €8,755 | €36,226 | +€27,471 | +314% |
| Cash at bank and in hand | 54/58 | €1,186 | €61,546 | +€60,360 | +5,089% |
| Deferred charges and accrued income | 490/1 | €1,210 | €1,071 | -€139 | -11.5% |
| Total equity and liabilities | 10/49 | €192,771 | €324,150 | +€131,379 | +68.2% |
| Equity | 10/15 | €55,557 | €242,262 | +€186,705 | +336% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €48,057 | €234,762 | +€186,705 | +389% |
| Distributable reserves | 133 | €48,057 | €234,762 | +€186,705 | +389% |
| Amounts payable | 17/49 | €137,214 | €81,888 | -€55,326 | -40.3% |
| Amounts payable after more than one year | 17 | €91,046 | €46,316 | -€44,731 | -49.1% |
| Financial debts | 170/4 | €91,046 | €46,316 | -€44,731 | -49.1% |
| Amounts payable within one year | 42/48 | €45,640 | €34,844 | -€10,796 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €19,716 | €19,731 | +€14 | +0.1% |
| Trade debts | 44 | €261 | €619 | +€358 | +137% |
| Suppliers | 440/4 | €261 | €619 | +€358 | +137% |
| Advances received on contracts in progress | 46 | €6,047 | €0 | -€6,047 | -100% |
| Taxes, remuneration and social security | 45 | €4,654 | €285 | -€4,369 | -93.9% |
| Taxes | 450/3 | €2,812 | €285 | -€2,527 | -89.9% |
| Remuneration and social security | 454/9 | €1,842 | €0 | -€1,842 | -100% |
| Other amounts payable | 47/48 | €14,962 | €14,210 | -€752 | -5.0% |
| Accrued charges and deferred income | 492/3 | €528 | €728 | +€201 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,855 | €3,681 | +€826 | +28.9% |
| Other operating charges | 640/8 | €928 | €897 | -€32 | -3.4% |
| Gross operating margin | 9900 | €18,557 | €46,549 | +€27,992 | +151% |
| Operating profit (loss) | 9901 | €14,774 | €41,972 | +€27,197 | +184% |
| Financial income | 75/76B | €525 | €156,464 | +€155,939 | +29,703% |
| Recurring financial income | 75 | €525 | €156,464 | +€155,939 | +29,703% |
| Financial charges | 65/66B | €3,033 | €3,532 | +€499 | +16.5% |
| Recurring financial charges | 65 | €3,033 | €3,532 | +€499 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €12,267 | €194,904 | +€182,637 | +1,489% |
| Income taxes | 67/77 | €2,753 | €8,199 | +€5,446 | +198% |
| Profit (loss) for the period | 9904 | €9,513 | €186,705 | +€177,191 | +1,863% |
| Profit (loss) for the period to be appropriated | 9905 | €9,513 | €186,705 | +€177,191 | +1,863% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.