FIRENZE: 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.
FIRENZE
Largest movements
- Tangible fixed assets +€334,143
up €334,143 (+110.7%), from €301,918 to €636,061
of which Land and buildings: +€418,081
- Receivables within one year -€211,444
down €211,444 (-94.2%), from €224,495 to €13,051
- Cash -€10,077
down €10,077 (-14.6%), from €69,149 to €59,073
mainly Investment in fixed assets (net) (-€410,375) and Contributions, distributions and other (-€103,600)
- Stocks and contracts +€9,591
up €9,591 (+50.4%), from €19,032 to €28,623
- Debts after one year +€162,476
up €162,476 (+231.1%), from €70,300 to €232,776
- Reserves -€69,788
down €69,788 (-15.7%), from €443,836 to €374,048
of which Distributable reserves: -€69,788
- Current portion of long-term debt +€14,844
up €14,844 (+74.7%), from €19,862 to €34,706
- Other debts +€14,108
new in 2025: €14,108
- Gross operating margin -€256,278
down €256,278 (-58.1%), from €441,107 to €184,829
- Taxes -€65,953
down €65,953 (-82.3%), from €80,101 to €14,147
- Depreciation -€32,149
down €32,149 (-29.7%), from €108,380 to €76,232
- Staff costs -€26,857
down €26,857 (-29.2%), from €91,979 to €65,123
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 | €614,595 | €738,705 | +€124,111 | +20.2% |
| Fixed assets | 21/28 | €301,918 | €636,061 | +€334,143 | +110.7% |
| Tangible fixed assets | 22/27 | €301,918 | €636,061 | +€334,143 | +110.7% |
| Land and buildings | 22 | - | €418,081 | +€418,081 | |
| Plant, machinery and equipment | 23 | €22,979 | €11,799 | -€11,180 | -48.7% |
| Furniture and vehicles | 24 | €71,456 | €21,613 | -€49,843 | -69.8% |
| Other tangible fixed assets | 26 | €207,483 | €184,568 | -€22,915 | -11.0% |
| Current assets | 29/58 | €312,677 | €102,645 | -€210,032 | -67.2% |
| Stocks and contracts in progress | 3 | €19,032 | €28,623 | +€9,591 | +50.4% |
| Stocks | 30/36 | €19,032 | €28,623 | +€9,591 | +50.4% |
| Amounts receivable within one year | 40/41 | €224,495 | €13,051 | -€211,444 | -94.2% |
| Other amounts receivable | 41 | €224,495 | €13,051 | -€211,444 | -94.2% |
| Cash at bank and in hand | 54/58 | €69,149 | €59,073 | -€10,077 | -14.6% |
| Deferred charges and accrued income | 490/1 | - | €1,898 | +€1,898 | |
| Total equity and liabilities | 10/49 | €614,595 | €738,705 | +€124,111 | +20.2% |
| Equity | 10/15 | €450,036 | €380,248 | -€69,788 | -15.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €443,836 | €374,048 | -€69,788 | -15.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €443,836 | €374,048 | -€69,788 | -15.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €164,559 | €358,458 | +€193,899 | +117.8% |
| Amounts payable after more than one year | 17 | €70,300 | €232,776 | +€162,476 | +231.1% |
| Financial debts | 170/4 | €70,300 | €232,776 | +€162,476 | +231.1% |
| Amounts payable within one year | 42/48 | €94,259 | €120,882 | +€26,623 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €19,862 | €34,706 | +€14,844 | +74.7% |
| Trade debts | 44 | €11,650 | €14,759 | +€3,109 | +26.7% |
| Suppliers | 440/4 | €11,650 | €14,759 | +€3,109 | +26.7% |
| Taxes, remuneration and social security | 45 | €62,747 | €57,310 | -€5,437 | -8.7% |
| Taxes | 450/3 | €57,708 | €49,202 | -€8,506 | -14.7% |
| Remuneration and social security | 454/9 | €5,038 | €8,108 | +€3,069 | +60.9% |
| Other amounts payable | 47/48 | - | €14,108 | +€14,108 | |
| Accrued charges and deferred income | 492/3 | - | €4,800 | +€4,800 | |
| Non-recurring operating income | 76A | - | €6,438 | +€6,438 | |
| Remuneration, social security and pensions | 62 | €91,979 | €65,123 | -€26,857 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,380 | €76,232 | -€32,149 | -29.7% |
| Other operating charges | 640/8 | €6,093 | €4,218 | -€1,875 | -30.8% |
| Gross operating margin | 9900 | €441,107 | €184,829 | -€256,278 | -58.1% |
| Operating profit (loss) | 9901 | €234,654 | €39,257 | -€195,398 | -83.3% |
| Financial income | 75/76B | €12,805 | €11,633 | -€1,172 | -9.2% |
| Recurring financial income | 75 | €12,805 | €11,633 | -€1,172 | -9.2% |
| Financial charges | 65/66B | €3,653 | €2,930 | -€723 | -19.8% |
| Recurring financial charges | 65 | €3,653 | €2,930 | -€723 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €243,807 | €47,959 | -€195,848 | -80.3% |
| Income taxes | 67/77 | €80,101 | €14,147 | -€65,953 | -82.3% |
| Profit (loss) for the period | 9904 | €163,706 | €33,812 | -€129,894 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €163,706 | €33,812 | -€129,894 | -79.3% |
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 11 October 2026 via checked.be.