Simon Englebert 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.
Simon Englebert Law
Largest movements
- Cash -€17,441
down €17,441 (-18.7%), from €93,207 to €75,765
mainly Contributions, distributions and other (-€65,948) and Other debts (-€15,716)
- Current investments +€2,500
new in 2025: €2,500
- Receivables within one year +€1,398
up €1,398 (+12.3%), from €11,392 to €12,790
of which Other amounts receivable: +€721
- Other debts -€15,716
down €15,716 (-17.1%), from €91,677 to €75,961
- Tax, wage and social debts +€1,910
up €1,910 (+19.4%), from €9,821 to €11,732
of which Remuneration and social security: +€1,262
- Gross operating margin +€4,303
up €4,303 (+5.3%), from €80,897 to €85,200
- Taxes +€1,497
up €1,497 (+9.1%), from €16,534 to €18,031
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 | €107,048 | €93,576 | -€13,472 | -12.6% |
| Fixed assets | 21/28 | €142 | €56 | -€87 | -60.9% |
| Tangible fixed assets | 22/27 | €142 | €56 | -€87 | -60.9% |
| Furniture and vehicles | 24 | €142 | €56 | -€87 | -60.9% |
| Current assets | 29/58 | €106,906 | €93,520 | -€13,385 | -12.5% |
| Amounts receivable within one year | 40/41 | €11,392 | €12,790 | +€1,398 | +12.3% |
| Trade receivables | 40 | - | €676 | +€676 | |
| Other amounts receivable | 41 | €11,392 | €12,113 | +€721 | +6.3% |
| Current investments | 50/53 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €93,207 | €75,765 | -€17,441 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,308 | €2,466 | +€158 | +6.9% |
| Total equity and liabilities | 10/49 | €107,048 | €93,576 | -€13,472 | -12.6% |
| Equity | 10/15 | €5,100 | €5,100 | = | 0.0% |
| Contributions | 10/11 | €5,100 | €5,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €101,948 | €88,476 | -€13,472 | -13.2% |
| Amounts payable within one year | 42/48 | €101,948 | €88,476 | -€13,472 | -13.2% |
| Trade debts | 44 | €449 | €783 | +€334 | +74.4% |
| Suppliers | 440/4 | €449 | €783 | +€334 | +74.4% |
| Taxes, remuneration and social security | 45 | €9,821 | €11,732 | +€1,910 | +19.4% |
| Taxes | 450/3 | €9,821 | €10,470 | +€648 | +6.6% |
| Remuneration and social security | 454/9 | - | €1,262 | +€1,262 | |
| Other amounts payable | 47/48 | €91,677 | €75,961 | -€15,716 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31 | €87 | +€56 | +179.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €80,897 | €85,200 | +€4,303 | +5.3% |
| Operating profit (loss) | 9901 | €80,479 | €84,714 | +€4,235 | +5.3% |
| Financial income | 75/76B | €24 | €576 | +€552 | +2349.3% |
| Recurring financial income | 75 | €24 | €576 | +€552 | +2349.3% |
| Financial charges | 65/66B | €1,904 | €1,310 | -€594 | -31.2% |
| Recurring financial charges | 65 | €1,904 | €1,310 | -€594 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €78,598 | €83,979 | +€5,381 | +6.8% |
| Income taxes | 67/77 | €16,534 | €18,031 | +€1,497 | +9.1% |
| Profit (loss) for the period | 9904 | €62,064 | €65,948 | +€3,884 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,064 | €65,948 | +€3,884 | +6.3% |
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 11 October 2026 via checked.be.