TL LAW: 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.
TL LAW
Largest movements
- Receivables within one year +€80,656
up €80,656 (+138.1%), from €58,392 to €139,048
of which Other amounts receivable: +€86,330
- Cash +€52,949
up €52,949 (+20.8%), from €254,831 to €307,780
mainly Net result for the year (+€242,202) and Depreciation (+€42,124)
- Reserves +€175,842
up €175,842 (+25.2%), from €698,459 to €874,301
- Debts after one year -€54,315
down €54,315 (-7.7%), from €708,373 to €654,058
- Gross operating margin +€65,138
up €65,138 (+19.9%), from €327,833 to €392,971
- Taxes +€15,631
up €15,631 (+16.4%), from €95,481 to €111,112
- Financial income -€12,876
down €12,876 (-27.8%), from €46,325 to €33,449
- Financial charges +€8,159
up €8,159 (+58.3%), from €13,999 to €22,158
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 | €1,567,884 | €1,684,484 | +€116,600 | +7.4% |
| Fixed assets | 21/28 | €947,384 | €932,928 | -€14,456 | -1.5% |
| Tangible fixed assets | 22/27 | €922,334 | €907,878 | -€14,456 | -1.6% |
| Land and buildings | 22 | €903,298 | €893,299 | -€9,999 | -1.1% |
| Furniture and vehicles | 24 | €12,135 | €7,678 | -€4,457 | -36.7% |
| Other tangible fixed assets | 26 | €6,900 | €6,900 | = | 0.0% |
| Financial fixed assets | 28 | €25,050 | €25,050 | = | 0.0% |
| Current assets | 29/58 | €620,501 | €751,556 | +€131,056 | +21.1% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Trade receivables | 290 | €300,000 | - | -€300,000 | |
| Other amounts receivable | 291 | - | €300,000 | +€300,000 | |
| Amounts receivable within one year | 40/41 | €58,392 | €139,048 | +€80,656 | +138.1% |
| Trade receivables | 40 | €26,955 | €21,281 | -€5,674 | -21.1% |
| Other amounts receivable | 41 | €31,437 | €117,768 | +€86,330 | +274.6% |
| Cash at bank and in hand | 54/58 | €254,831 | €307,780 | +€52,949 | +20.8% |
| Deferred charges and accrued income | 490/1 | €7,277 | €4,728 | -€2,550 | -35.0% |
| Total equity and liabilities | 10/49 | €1,567,884 | €1,684,484 | +€116,600 | +7.4% |
| Equity | 10/15 | €717,009 | €892,851 | +€175,842 | +24.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €698,459 | €874,301 | +€175,842 | +25.2% |
| Distributable reserves | 133 | €698,459 | €874,301 | +€175,842 | +25.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €850,875 | €791,633 | -€59,242 | -7.0% |
| Amounts payable after more than one year | 17 | €708,373 | €654,058 | -€54,315 | -7.7% |
| Financial debts | 170/4 | €708,373 | €654,058 | -€54,315 | -7.7% |
| Amounts payable within one year | 42/48 | €142,502 | €136,500 | -€6,001 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €67,699 | €71,382 | +€3,683 | +5.4% |
| Trade debts | 44 | €35,369 | €36,894 | +€1,525 | +4.3% |
| Suppliers | 440/4 | €35,369 | €36,894 | +€1,525 | +4.3% |
| Taxes, remuneration and social security | 45 | €37,184 | €28,217 | -€8,967 | -24.1% |
| Taxes | 450/3 | €37,184 | €28,217 | -€8,967 | -24.1% |
| Other amounts payable | 47/48 | €2,250 | €7 | -€2,243 | -99.7% |
| Accrued charges and deferred income | 492/3 | - | €1,074 | +€1,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,235 | €42,124 | -€111 | -0.3% |
| Other operating charges | 640/8 | €8,088 | €8,824 | +€736 | +9.1% |
| Gross operating margin | 9900 | €327,833 | €392,971 | +€65,138 | +19.9% |
| Operating profit (loss) | 9901 | €277,510 | €342,023 | +€64,513 | +23.2% |
| Financial income | 75/76B | €46,325 | €33,449 | -€12,876 | -27.8% |
| Recurring financial income | 75 | €46,325 | €33,449 | -€12,876 | -27.8% |
| Financial charges | 65/66B | €13,999 | €22,158 | +€8,159 | +58.3% |
| Recurring financial charges | 65 | €13,999 | €22,158 | +€8,159 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | €309,836 | €353,314 | +€43,478 | +14.0% |
| Income taxes | 67/77 | €95,481 | €111,112 | +€15,631 | +16.4% |
| Profit (loss) for the period | 9904 | €214,355 | €242,202 | +€27,847 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €214,355 | €242,202 | +€27,847 | +13.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.