Accelleran: 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.
Firecell Belgium
Largest movements
- Deferred charges and accrued income -€117,906
down €117,906 (-63.2%), from €186,494 to €68,588
- Receivables within one year +€116,661
up €116,661 (+20.8%), from €559,867 to €676,527
of which Trade receivables: +€324,611
- Cash -€94,642
down €94,642 (-59.5%), from €159,155 to €64,513
mainly Net result for the year (-€2.0m) and Investment in fixed assets (net) (-€1.7m)
- Profit (loss) carried forward -€2.0m
down €2.0m (-23.7%), from -€8.7m to -€10.7m
- Trade debts +€732,349
up €732,349 (+182.5%), from €401,374 to €1.1m
- Short-term financial debts +€500,000
new in 2025: €500,000
- Investment grants +€495,542
up €495,542 (+11.9%), from €4.2m to €4.7m
- Current portion of long-term debt +€309,491
up €309,491 (+8.8%), from €3.5m to €3.8m
- Depreciation +€519,951
up €519,951 (+46.5%), from €1.1m to €1.6m
- Financial income +€255,240
up €255,240 (+115.3%), from €221,345 to €476,585
- Financial charges +€250,248
up €250,248 (+106.5%), from €234,965 to €485,213
- Staff costs -€224,815
down €224,815 (-16.4%), from €1.4m to €1.1m
- Gross operating margin +€138,948
up €138,948 (+22.5%), from €616,535 to €755,484
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 | €8,524,211 | €8,488,210 | -€36,002 | -0.4% |
| Fixed assets | 21/28 | €7,577,268 | €7,643,441 | +€66,173 | +0.9% |
| Intangible fixed assets | 21 | €7,462,324 | €7,537,151 | +€74,827 | +1.0% |
| Tangible fixed assets | 22/27 | €51,204 | €42,724 | -€8,480 | -16.6% |
| Plant, machinery and equipment | 23 | €2,670 | €1,201 | -€1,470 | -55.0% |
| Furniture and vehicles | 24 | €31,112 | €11,122 | -€19,991 | -64.3% |
| Other tangible fixed assets | 26 | €17,421 | €30,401 | +€12,981 | +74.5% |
| Financial fixed assets | 28 | €63,740 | €63,566 | -€174 | -0.3% |
| Current assets | 29/58 | €946,944 | €844,769 | -€102,175 | -10.8% |
| Stocks and contracts in progress | 3 | €41,010 | €34,720 | -€6,290 | -15.3% |
| Stocks | 30/36 | €41,010 | €34,720 | -€6,290 | -15.3% |
| Amounts receivable within one year | 40/41 | €559,867 | €676,527 | +€116,661 | +20.8% |
| Trade receivables | 40 | €13,052 | €337,662 | +€324,611 | +2487.1% |
| Other amounts receivable | 41 | €546,815 | €338,865 | -€207,950 | -38.0% |
| Current investments | 50/53 | €418 | €421 | +€3 | +0.6% |
| Cash at bank and in hand | 54/58 | €159,155 | €64,513 | -€94,642 | -59.5% |
| Deferred charges and accrued income | 490/1 | €186,494 | €68,588 | -€117,906 | -63.2% |
| Total equity and liabilities | 10/49 | €8,524,211 | €8,488,210 | -€36,002 | -0.4% |
| Equity | 10/15 | €2,315,230 | €789,089 | -€1.5m | -65.9% |
| Contributions | 10/11 | €6,787,922 | €6,815,982 | +€28,060 | +0.4% |
| Capital | 10 | €6,787,922 | €6,815,982 | +€28,060 | +0.4% |
| Issued capital | 100 | €6,787,922 | €6,815,982 | +€28,060 | +0.4% |
| Profit (loss) carried forward | 14 | -€8,650,830 | -€10,700,573 | -€2.0m | -23.7% |
| Investment grants | 15 | €4,178,139 | €4,673,680 | +€495,542 | +11.9% |
| Amounts payable | 17/49 | €6,208,981 | €7,699,121 | +€1.5m | +24.0% |
| Amounts payable within one year | 42/48 | €4,099,651 | €5,615,745 | +€1.5m | +37.0% |
| Current portion of amounts payable after more than one year | 42 | €3,515,000 | €3,824,491 | +€309,491 | +8.8% |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €401,374 | €1,133,722 | +€732,349 | +182.5% |
| Suppliers | 440/4 | €401,374 | €1,133,722 | +€732,349 | +182.5% |
| Taxes, remuneration and social security | 45 | €180,191 | €154,445 | -€25,745 | -14.3% |
| Taxes | 450/3 | - | €6,325 | +€6,325 | |
| Remuneration and social security | 454/9 | €180,191 | €148,120 | -€32,071 | -17.8% |
| Other amounts payable | 47/48 | €3,086 | €3,086 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,109,331 | €2,083,376 | -€25,955 | -1.2% |
| Remuneration, social security and pensions | 62 | €1,368,951 | €1,144,136 | -€224,815 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,118,009 | €1,637,960 | +€519,951 | +46.5% |
| Other operating charges | 640/8 | €12,905 | €13,207 | +€302 | +2.3% |
| Gross operating margin | 9900 | €616,535 | €755,484 | +€138,948 | +22.5% |
| Operating profit (loss) | 9901 | -€1,883,329 | -€2,039,820 | -€156,490 | -8.3% |
| Financial income | 75/76B | €221,345 | €476,585 | +€255,240 | +115.3% |
| Recurring financial income | 75 | €221,345 | €476,585 | +€255,240 | +115.3% |
| Financial charges | 65/66B | €234,965 | €485,213 | +€250,248 | +106.5% |
| Recurring financial charges | 65 | €234,965 | €485,213 | +€250,248 | +106.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,896,950 | -€2,048,448 | -€151,498 | -8.0% |
| Income taxes | 67/77 | €1,055 | €1,295 | +€240 | +22.7% |
| Profit (loss) for the period | 9904 | -€1,898,005 | -€2,049,743 | -€151,738 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,898,005 | -€2,049,743 | -€151,738 | -8.0% |
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.