FIRECO SYSTEMS: 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.
FIRECO SYSTEMS
Largest movements
- Receivables within one year +€562,157
up €562,157 (+81.7%), from €688,237 to €1.3m
of which Trade receivables: +€517,976
- Cash -€445,774
down €445,774 (-32.9%), from €1.4m to €908,165
mainly Receivables within one year (-€562,157) and Investment in fixed assets (net) (-€437,778)
- Tangible fixed assets +€342,730
up €342,730 (+29.1%), from €1.2m to €1.5m
of which Assets under construction and advance payments: +€337,811
- Stocks and contracts +€184,400
up €184,400 (+146%), from €126,553 to €310,952
- Reserves +€447,626
up €447,626 (+44.9%), from €997,460 to €1.4m
of which Distributable reserves: +€256,004
- Trade debts +€418,072
up €418,072 (+35.5%), from €1.2m to €1.6m
- Short-term financial debts -€224,862
down €224,862 (-66.6%), from €337,622 to €112,761
- Debts after one year -€118,094
down €118,094 (-18.7%), from €632,913 to €514,819
- Current portion of long-term debt +€64,383
up €64,383 (+65.6%), from €98,133 to €162,515
- Other operating charges -€214,498
down €214,498 (-95.0%), from €225,826 to €11,328
- Gross operating margin +€112,094
up €112,094 (+10.2%), from €1.1m to €1.2m
- Staff costs +€60,120
up €60,120 (+16.9%), from €354,962 to €415,081
- Depreciation +€37,735
up €37,735 (+65.8%), from €57,313 to €95,048
- Financial charges +€13,363
up €13,363 (+21.2%), from €63,025 to €76,388
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 | €3,352,594 | €3,998,898 | +€646,304 | +19.3% |
| Fixed assets | 21/28 | €1,178,831 | €1,521,561 | +€342,730 | +29.1% |
| Tangible fixed assets | 22/27 | €1,178,676 | €1,521,406 | +€342,730 | +29.1% |
| Land and buildings | 22 | €549,567 | €507,093 | -€42,474 | -7.7% |
| Plant, machinery and equipment | 23 | €9,185 | €36,949 | +€27,765 | +302% |
| Furniture and vehicles | 24 | €97,648 | €104,530 | +€6,883 | +7.0% |
| Other tangible fixed assets | 26 | €2,739 | €15,486 | +€12,746 | +465% |
| Assets under construction and advance payments | 27 | €519,538 | €857,348 | +€337,811 | +65.0% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €2,173,763 | €2,477,337 | +€303,574 | +14.0% |
| Stocks and contracts in progress | 3 | €126,553 | €310,952 | +€184,400 | +146% |
| Stocks | 30/36 | €126,553 | €310,952 | +€184,400 | +146% |
| Amounts receivable within one year | 40/41 | €688,237 | €1,250,394 | +€562,157 | +81.7% |
| Trade receivables | 40 | €664,263 | €1,182,240 | +€517,976 | +78.0% |
| Other amounts receivable | 41 | €23,973 | €68,154 | +€44,181 | +184% |
| Cash at bank and in hand | 54/58 | €1,353,939 | €908,165 | -€445,774 | -32.9% |
| Deferred charges and accrued income | 490/1 | €5,035 | €7,826 | +€2,791 | +55.4% |
| Total equity and liabilities | 10/49 | €3,352,594 | €3,998,898 | +€646,304 | +19.3% |
| Equity | 10/15 | €1,059,433 | €1,507,059 | +€447,626 | +42.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €997,460 | €1,445,086 | +€447,626 | +44.9% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €191,622 | +€191,622 | |
| Distributable reserves | 133 | €991,262 | €1,247,266 | +€256,004 | +25.8% |
| Provisions and deferred taxes | 16 | - | €63,874 | +€63,874 | |
| Deferred taxes | 168 | - | €63,874 | +€63,874 | |
| Amounts payable | 17/49 | €2,293,161 | €2,427,964 | +€134,803 | +5.9% |
| Amounts payable after more than one year | 17 | €632,913 | €514,819 | -€118,094 | -18.7% |
| Financial debts | 170/4 | €632,913 | €514,819 | -€118,094 | -18.7% |
| Amounts payable within one year | 42/48 | €1,660,248 | €1,913,145 | +€252,897 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €98,133 | €162,515 | +€64,383 | +65.6% |
| Financial debts | 43 | €337,622 | €112,761 | -€224,862 | -66.6% |
| Credit institutions | 430/8 | €337,622 | €112,761 | -€224,862 | -66.6% |
| Trade debts | 44 | €1,178,098 | €1,596,170 | +€418,072 | +35.5% |
| Suppliers | 440/4 | €1,178,098 | €1,596,170 | +€418,072 | +35.5% |
| Taxes, remuneration and social security | 45 | €44,398 | €41,699 | -€2,699 | -6.1% |
| Taxes | 450/3 | €2,696 | - | -€2,696 | |
| Remuneration and social security | 454/9 | €41,702 | €41,699 | -€3 | 0.0% |
| Other amounts payable | 47/48 | €1,997 | - | -€1,997 | |
| Non-recurring operating income | 76A | €4,500 | €266,142 | +€261,642 | +5,814% |
| Remuneration, social security and pensions | 62 | €354,962 | €415,081 | +€60,120 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,313 | €95,048 | +€37,735 | +65.8% |
| Other operating charges | 640/8 | €225,826 | €11,328 | -€214,498 | -95.0% |
| Non-recurring operating charges | 66A | - | €2,662 | +€2,662 | |
| Gross operating margin | 9900 | €1,096,428 | €1,208,523 | +€112,094 | +10.2% |
| Operating profit (loss) | 9901 | €458,328 | €684,404 | +€226,075 | +49.3% |
| Financial income | 75/76B | €194 | €405 | +€210 | +108% |
| Recurring financial income | 75 | €194 | €405 | +€210 | +108% |
| Financial charges | 65/66B | €63,025 | €76,388 | +€13,363 | +21.2% |
| Recurring financial charges | 65 | €63,025 | €76,388 | +€13,363 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €395,498 | €608,420 | +€212,923 | +53.8% |
| Transfer from deferred taxes | 780 | - | €2,661 | +€2,661 | |
| Transfer to deferred taxes | 680 | - | €66,536 | +€66,536 | |
| Income taxes | 67/77 | €107,696 | €96,920 | -€10,776 | -10.0% |
| Profit (loss) for the period | 9904 | €287,801 | €447,626 | +€159,825 | +55.5% |
| Transfer from tax-exempt reserves | 789 | - | €7,984 | +€7,984 | |
| Transfer to tax-exempt reserves | 689 | - | €199,607 | +€199,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €287,801 | €256,004 | -€31,797 | -11.0% |
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 14 October 2026 via checked.be.