FIRDAW'S GROUP: 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.
FIRDAW'S GROUP
Largest movements
- Receivables within one year +€93,538
up €93,538 (+5,444%), from €1,718 to €95,256
- Tangible fixed assets +€47,989
up €47,989 (+3,857%), from €1,244 to €49,233
- Cash -€23,879
down €23,879 (-20.8%), from €114,606 to €90,727
mainly Contributions, distributions and other (-€211,000) and Receivables within one year (-€93,538)
- Stocks and contracts +€15,753
new in 2025: €15,753
- Other debts +€203,156
up €203,156 (+2,590%), from €7,844 to €211,000
- Profit (loss) carried forward -€117,836
down €117,836 (-99.4%), from €118,595 to €758
- Debts after one year +€33,952
new in 2025: €33,952
- Current portion of long-term debt +€11,314
new in 2025: €11,314
- Gross operating margin +€30,753
up €30,753 (+34.1%), from €90,303 to €121,055
- Taxes +€5,819
up €5,819 (+29.1%), from €19,982 to €25,801
- Depreciation +€2,322
up €2,322 (+1,157%), from €201 to €2,523
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 | €127,808 | €262,271 | +€134,464 | +105% |
| Fixed assets | 21/28 | €1,244 | €49,233 | +€47,989 | +3,857% |
| Tangible fixed assets | 22/27 | €1,244 | €49,233 | +€47,989 | +3,857% |
| Furniture and vehicles | 24 | €1,244 | €49,233 | +€47,989 | +3,857% |
| Current assets | 29/58 | €126,563 | €213,038 | +€86,474 | +68.3% |
| Stocks and contracts in progress | 3 | - | €15,753 | +€15,753 | |
| Stocks | 30/36 | - | €15,753 | +€15,753 | |
| Amounts receivable within one year | 40/41 | €1,718 | €95,256 | +€93,538 | +5,444% |
| Other amounts receivable | 41 | €1,718 | €95,256 | +€93,538 | +5,444% |
| Cash at bank and in hand | 54/58 | €114,606 | €90,727 | -€23,879 | -20.8% |
| Deferred charges and accrued income | 490/1 | €10,239 | €11,302 | +€1,063 | +10.4% |
| Total equity and liabilities | 10/49 | €127,808 | €262,271 | +€134,464 | +105% |
| Equity | 10/15 | €119,095 | €1,258 | -€117,836 | -98.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,595 | €758 | -€117,836 | -99.4% |
| Amounts payable | 17/49 | €8,713 | €261,013 | +€252,300 | +2,896% |
| Amounts payable after more than one year | 17 | - | €33,952 | +€33,952 | |
| Financial debts | 170/4 | - | €33,952 | +€33,952 | |
| Amounts payable within one year | 42/48 | €8,713 | €227,060 | +€218,347 | +2,506% |
| Current portion of amounts payable after more than one year | 42 | - | €11,314 | +€11,314 | |
| Trade debts | 44 | €869 | €2,247 | +€1,378 | +159% |
| Suppliers | 440/4 | €869 | €2,247 | +€1,378 | +159% |
| Taxes, remuneration and social security | 45 | - | €2,500 | +€2,500 | |
| Taxes | 450/3 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €7,844 | €211,000 | +€203,156 | +2,590% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201 | €2,523 | +€2,322 | +1,157% |
| Other operating charges | 640/8 | €64 | €66 | +€2 | +3.0% |
| Gross operating margin | 9900 | €90,303 | €121,055 | +€30,753 | +34.1% |
| Operating profit (loss) | 9901 | €90,038 | €118,467 | +€28,429 | +31.6% |
| Financial income | 75/76B | €0 | €1,168 | +€1,168 | +1,168,210% |
| Recurring financial income | 75 | €0 | €1,168 | +€1,168 | +1,168,210% |
| Financial charges | 65/66B | €157 | €670 | +€513 | +326% |
| Recurring financial charges | 65 | €157 | €670 | +€513 | +326% |
| Profit (loss) for the period before taxes | 9903 | €89,881 | €118,965 | +€29,084 | +32.4% |
| Income taxes | 67/77 | €19,982 | €25,801 | +€5,819 | +29.1% |
| Profit (loss) for the period | 9904 | €69,899 | €93,164 | +€23,265 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,899 | €93,164 | +€23,265 | +33.3% |
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 25 October 2026 via checked.be.