Three Laws: 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.
Three Laws
Largest movements
- Receivables within one year -€123,678
down €123,678 (-13.0%), from €952,868 to €829,190
of which Trade receivables: -€135,741
- Trade debts -€138,652
down €138,652 (-96.8%), from €143,221 to €4,569
of which Bills of exchange payable: -€143,221
- Profit (loss) carried forward +€17,117
up €17,117 (+2.4%), from €708,853 to €725,970
- Gross operating margin -€9,050
down €9,050 (-78.6%), from €11,516 to €2,466
- Financial income -€6,474
down €6,474 (-27.0%), from €24,000 to €17,526
- Other operating charges -€1,024
down €1,024 (-94.0%), from €1,090 to €66
- Depreciation +€474
up €474 (+197.6%), from €240 to €714
- Financial charges -€284
down €284 (-11.9%), from €2,379 to €2,095
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 | €953,905 | €833,458 | -€120,448 | -12.6% |
| Fixed assets | 21/28 | €960 | €1,889 | +€929 | +96.8% |
| Tangible fixed assets | 22/27 | €960 | €1,889 | +€929 | +96.8% |
| Plant, machinery and equipment | 23 | €960 | €720 | -€240 | -25.0% |
| Furniture and vehicles | 24 | - | €1,169 | +€1,169 | |
| Current assets | 29/58 | €952,945 | €831,569 | -€121,376 | -12.7% |
| Amounts receivable within one year | 40/41 | €952,868 | €829,190 | -€123,678 | -13.0% |
| Trade receivables | 40 | €135,741 | - | -€135,741 | |
| Other amounts receivable | 41 | €817,128 | €829,190 | +€12,062 | +1.5% |
| Cash at bank and in hand | 54/58 | €77 | €2,379 | +€2,302 | +2992.9% |
| Total equity and liabilities | 10/49 | €953,905 | €833,458 | -€120,448 | -12.6% |
| Equity | 10/15 | €791,843 | €808,960 | +€17,117 | +2.2% |
| Contributions | 10/11 | €82,990 | €82,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €708,853 | €725,970 | +€17,117 | +2.4% |
| Amounts payable | 17/49 | €162,063 | €24,498 | -€137,565 | -84.9% |
| Amounts payable within one year | 42/48 | €162,063 | €24,498 | -€137,565 | -84.9% |
| Financial debts | 43 | €18,842 | €19,929 | +€1,087 | +5.8% |
| Credit institutions | 430/8 | €18,842 | €19,929 | +€1,087 | +5.8% |
| Trade debts | 44 | €143,221 | €4,569 | -€138,652 | -96.8% |
| Suppliers | 440/4 | €0 | €4,569 | +€4,569 | |
| Bills of exchange payable | 441 | €143,221 | - | -€143,221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240 | €714 | +€474 | +197.6% |
| Other operating charges | 640/8 | €1,090 | €66 | -€1,024 | -94.0% |
| Gross operating margin | 9900 | €11,516 | €2,466 | -€9,050 | -78.6% |
| Operating profit (loss) | 9901 | €10,186 | €1,686 | -€8,500 | -83.4% |
| Financial income | 75/76B | €24,000 | €17,526 | -€6,474 | -27.0% |
| Recurring financial income | 75 | €24,000 | €17,526 | -€6,474 | -27.0% |
| Financial charges | 65/66B | €2,379 | €2,095 | -€284 | -11.9% |
| Recurring financial charges | 65 | €2,379 | €2,095 | -€284 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €31,807 | €17,117 | -€14,690 | -46.2% |
| Profit (loss) for the period | 9904 | €31,807 | €17,117 | -€14,690 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,807 | €17,117 | -€14,690 | -46.2% |
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 29 September 2026 via checked.be.