Ratio Legis: 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.
Ratio Legis
Largest movements
- Cash +€16,178
up €16,178 (+38.9%), from €41,565 to €57,743
mainly Net result for the year (+€11,790) and Receivables within one year (+€9,002)
- Receivables within one year -€9,002
down €9,002 (-26.8%), from €33,638 to €24,636
of which Trade receivables: -€10,689
- Deferred charges and accrued income -€3,361
down €3,361 (-20.3%), from €16,573 to €13,212
- Profit (loss) carried forward +€11,790
up €11,790 (+19.0%), from €61,988 to €73,778
- Tax, wage and social debts -€4,285
down €4,285 (-17.7%), from €24,241 to €19,956
- Trade debts -€4,036
down €4,036 (-67.7%), from €5,961 to €1,925
- Gross operating margin -€40,942
down €40,942 (-69.2%), from €59,122 to €18,180
- Taxes -€7,247
down €7,247 (-58.1%), from €12,471 to €5,224
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 | €95,190 | €98,659 | +€3,469 | +3.6% |
| Fixed assets | 21/28 | €3,414 | €3,069 | -€346 | -10.1% |
| Tangible fixed assets | 22/27 | €3,414 | €3,069 | -€346 | -10.1% |
| Furniture and vehicles | 24 | €2,437 | €2,189 | -€248 | -10.2% |
| Other tangible fixed assets | 26 | €977 | €880 | -€98 | -10.0% |
| Current assets | 29/58 | €91,776 | €95,590 | +€3,814 | +4.2% |
| Amounts receivable within one year | 40/41 | €33,638 | €24,636 | -€9,002 | -26.8% |
| Trade receivables | 40 | €20,627 | €9,939 | -€10,689 | -51.8% |
| Other amounts receivable | 41 | €13,011 | €14,697 | +€1,687 | +13.0% |
| Cash at bank and in hand | 54/58 | €41,565 | €57,743 | +€16,178 | +38.9% |
| Deferred charges and accrued income | 490/1 | €16,573 | €13,212 | -€3,361 | -20.3% |
| Total equity and liabilities | 10/49 | €95,190 | €98,659 | +€3,469 | +3.6% |
| Equity | 10/15 | €64,988 | €76,778 | +€11,790 | +18.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,988 | €73,778 | +€11,790 | +19.0% |
| Amounts payable | 17/49 | €30,202 | €21,881 | -€8,322 | -27.6% |
| Amounts payable within one year | 42/48 | €30,202 | €21,881 | -€8,322 | -27.6% |
| Trade debts | 44 | €5,961 | €1,925 | -€4,036 | -67.7% |
| Suppliers | 440/4 | €5,961 | €1,925 | -€4,036 | -67.7% |
| Taxes, remuneration and social security | 45 | €24,241 | €19,956 | -€4,285 | -17.7% |
| Taxes | 450/3 | €24,241 | €19,956 | -€4,285 | -17.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43 | €346 | +€303 | +705% |
| Other operating charges | 640/8 | €1,848 | €1,495 | -€353 | -19.1% |
| Gross operating margin | 9900 | €59,122 | €18,180 | -€40,942 | -69.2% |
| Operating profit (loss) | 9901 | €57,231 | €16,339 | -€40,892 | -71.5% |
| Financial income | 75/76B | €373 | €848 | +€475 | +127% |
| Recurring financial income | 75 | €373 | €848 | +€475 | +127% |
| Financial charges | 65/66B | €108 | €174 | +€66 | +60.7% |
| Recurring financial charges | 65 | €108 | €174 | +€66 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €57,496 | €17,014 | -€40,482 | -70.4% |
| Income taxes | 67/77 | €12,471 | €5,224 | -€7,247 | -58.1% |
| Profit (loss) for the period | 9904 | €45,025 | €11,790 | -€33,235 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,025 | €11,790 | -€33,235 | -73.8% |
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 24 October 2026 via checked.be.