VS 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.
VS LAW
Largest movements
- Receivables within one year -€38,184
down €38,184 (-78.9%), from €48,397 to €10,213
of which Trade receivables: -€27,682
- Cash +€13,534
up €13,534 (+1013.8%), from €1,335 to €14,869
mainly Receivables within one year (+€38,184) and Net result for the year (+€13,650)
- Tangible fixed assets -€788
down €788 (-19.3%), from €4,083 to €3,295
- Other debts -€20,262
down €20,262 (-59.8%), from €33,911 to €13,649
- Tax, wage and social debts -€6,309
down €6,309 (-38.2%), from €16,530 to €10,221
- Trade debts +€1,106
up €1,106 (+212.3%), from €521 to €1,627
- Gross operating margin -€24,231
down €24,231 (-54.3%), from €44,619 to €20,388
- Taxes -€4,960
down €4,960 (-55.6%), from €8,921 to €3,961
- Depreciation +€1,133
up €1,133 (+250.7%), from €452 to €1,585
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 | €53,980 | €28,497 | -€25,483 | -47.2% |
| Fixed assets | 21/28 | €4,083 | €3,295 | -€788 | -19.3% |
| Tangible fixed assets | 22/27 | €4,083 | €3,295 | -€788 | -19.3% |
| Furniture and vehicles | 24 | €4,083 | €3,295 | -€788 | -19.3% |
| Current assets | 29/58 | €49,897 | €25,202 | -€24,695 | -49.5% |
| Amounts receivable within one year | 40/41 | €48,397 | €10,213 | -€38,184 | -78.9% |
| Trade receivables | 40 | €27,682 | - | -€27,682 | |
| Other amounts receivable | 41 | €20,715 | €10,213 | -€10,502 | -50.7% |
| Cash at bank and in hand | 54/58 | €1,335 | €14,869 | +€13,534 | +1013.8% |
| Deferred charges and accrued income | 490/1 | €165 | €120 | -€45 | -27.3% |
| Total equity and liabilities | 10/49 | €53,980 | €28,497 | -€25,483 | -47.2% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €50,980 | €25,497 | -€25,483 | -50.0% |
| Amounts payable within one year | 42/48 | €50,962 | €25,497 | -€25,465 | -50.0% |
| Trade debts | 44 | €521 | €1,627 | +€1,106 | +212.3% |
| Suppliers | 440/4 | €521 | €1,627 | +€1,106 | +212.3% |
| Taxes, remuneration and social security | 45 | €16,530 | €10,221 | -€6,309 | -38.2% |
| Taxes | 450/3 | €16,530 | €10,221 | -€6,309 | -38.2% |
| Other amounts payable | 47/48 | €33,911 | €13,649 | -€20,262 | -59.8% |
| Accrued charges and deferred income | 492/3 | €18 | - | -€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452 | €1,585 | +€1,133 | +250.7% |
| Other operating charges | 640/8 | €787 | €811 | +€24 | +3.0% |
| Gross operating margin | 9900 | €44,619 | €20,388 | -€24,231 | -54.3% |
| Operating profit (loss) | 9901 | €43,380 | €17,992 | -€25,388 | -58.5% |
| Financial income | 75/76B | €3 | €12 | +€9 | +300.0% |
| Recurring financial income | 75 | €3 | €12 | +€9 | +300.0% |
| Financial charges | 65/66B | €551 | €393 | -€158 | -28.7% |
| Recurring financial charges | 65 | €551 | €393 | -€158 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €42,832 | €17,611 | -€25,221 | -58.9% |
| Income taxes | 67/77 | €8,921 | €3,961 | -€4,960 | -55.6% |
| Profit (loss) for the period | 9904 | €33,911 | €13,650 | -€20,261 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,911 | €13,650 | -€20,261 | -59.7% |
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.