FIRAT: 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.
FIRAT
Largest movements
- Receivables within one year +€48,170
up €48,170 (+93.9%), from €51,313 to €99,483
of which Trade receivables: +€35,785
- Deferred charges and accrued income +€23,232
up €23,232 (+16,533%), from €141 to €23,372
- Cash -€10,897
down €10,897 (-100%), from €10,897 to €0
mainly Receivables within one year (-€48,170) and Deferred charges and accrued income (-€23,232)
- Accrued charges and deferred income +€18,528
new in 2025: €18,528
- Trade debts +€15,300
up €15,300 (+69.1%), from €22,142 to €37,442
- Other debts +€12,000
up €12,000 (+120%), from €10,000 to €22,000
- Reserves +€11,383
up €11,383 (+4,739%), from €240 to €11,624
- Tax, wage and social debts +€3,295
up €3,295 (+9.8%), from €33,722 to €37,017
- Gross operating margin -€53,306
down €53,306 (-54.3%), from €98,254 to €44,948
- Taxes +€16,141
up €16,141 (+161%), from €10,011 to €26,152
- Depreciation -€4,126
no longer reported in 2025 (was €4,126)
- Other operating charges +€3,003
up €3,003 (+135%), from €2,225 to €5,228
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.
Derived cash bridge
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 | €72,304 | €132,810 | +€60,505 | +83.7% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €2,681 | €2,681 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,681 | €2,681 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,681 | €2,681 | = | 0.0% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €69,623 | €130,129 | +€60,505 | +86.9% |
| Stocks and contracts in progress | 3 | €7,273 | €7,273 | = | 0.0% |
| Stocks | 30/36 | €7,273 | €7,273 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €51,313 | €99,483 | +€48,170 | +93.9% |
| Trade receivables | 40 | €234 | €36,019 | +€35,785 | +15,315% |
| Other amounts receivable | 41 | €51,079 | €63,464 | +€12,385 | +24.2% |
| Cash at bank and in hand | 54/58 | €10,897 | €0 | -€10,897 | -100% |
| Deferred charges and accrued income | 490/1 | €141 | €23,372 | +€23,232 | +16,533% |
| Total equity and liabilities | 10/49 | €72,304 | €132,810 | +€60,505 | +83.7% |
| Equity | 10/15 | €6,440 | €17,824 | +€11,383 | +177% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €240 | €11,624 | +€11,383 | +4,739% |
| Distributable reserves | 133 | €240 | €11,624 | +€11,383 | +4,739% |
| Amounts payable | 17/49 | €65,864 | €114,986 | +€49,122 | +74.6% |
| Amounts payable within one year | 42/48 | €65,864 | €96,458 | +€30,594 | +46.5% |
| Trade debts | 44 | €22,142 | €37,442 | +€15,300 | +69.1% |
| Suppliers | 440/4 | €22,142 | €37,442 | +€15,300 | +69.1% |
| Taxes, remuneration and social security | 45 | €33,722 | €37,017 | +€3,295 | +9.8% |
| Taxes | 450/3 | €33,722 | €37,017 | +€3,295 | +9.8% |
| Other amounts payable | 47/48 | €10,000 | €22,000 | +€12,000 | +120% |
| Accrued charges and deferred income | 492/3 | - | €18,528 | +€18,528 | |
| Remuneration, social security and pensions | 62 | €803 | €572 | -€231 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,126 | - | -€4,126 | |
| Other operating charges | 640/8 | €2,225 | €5,228 | +€3,003 | +135% |
| Gross operating margin | 9900 | €98,254 | €44,948 | -€53,306 | -54.3% |
| Operating profit (loss) | 9901 | €91,101 | €39,149 | -€51,952 | -57.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,036 | €1,614 | -€422 | -20.7% |
| Recurring financial charges | 65 | €2,036 | €1,614 | -€422 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €89,065 | €37,535 | -€51,530 | -57.9% |
| Income taxes | 67/77 | €10,011 | €26,152 | +€16,141 | +161% |
| Profit (loss) for the period | 9904 | €79,054 | €11,383 | -€67,671 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €79,054 | €11,383 | -€67,671 | -85.6% |
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 27 October 2026 via checked.be.