FIRESA: 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.
FIRESA
Largest movements
- Receivables within one year +€43,052
up €43,052 (+198.9%), from €21,646 to €64,698
of which Other amounts receivable: +€48,003
- Cash +€7,016
up €7,016 (+3.8%), from €184,074 to €191,090
mainly Net result for the year (+€48,398) and Tax, wage and social debts (+€2,258)
- Reserves +€47,648
up €47,648 (+25.9%), from €184,237 to €231,885
- Gross operating margin +€13,923
up €13,923 (+25.3%), from €55,028 to €68,951
- Taxes +€3,127
up €3,127 (+20.5%), from €15,274 to €18,401
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 | €208,320 | €258,140 | +€49,820 | +23.9% |
| Fixed assets | 21/28 | €2,600 | €2,351 | -€249 | -9.6% |
| Tangible fixed assets | 22/27 | €2,600 | €2,351 | -€249 | -9.6% |
| Furniture and vehicles | 24 | €2,600 | €2,351 | -€249 | -9.6% |
| Current assets | 29/58 | €205,720 | €255,789 | +€50,068 | +24.3% |
| Amounts receivable within one year | 40/41 | €21,646 | €64,698 | +€43,052 | +198.9% |
| Trade receivables | 40 | €18,774 | €13,824 | -€4,951 | -26.4% |
| Other amounts receivable | 41 | €2,872 | €50,874 | +€48,003 | +1671.6% |
| Cash at bank and in hand | 54/58 | €184,074 | €191,090 | +€7,016 | +3.8% |
| Total equity and liabilities | 10/49 | €208,320 | €258,140 | +€49,820 | +23.9% |
| Equity | 10/15 | €184,837 | €232,485 | +€47,648 | +25.8% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €184,237 | €231,885 | +€47,648 | +25.9% |
| Distributable reserves | 133 | €184,237 | €231,885 | +€47,648 | +25.9% |
| Amounts payable | 17/49 | €23,483 | €25,655 | +€2,171 | +9.2% |
| Amounts payable within one year | 42/48 | €23,483 | €25,655 | +€2,171 | +9.2% |
| Trade debts | 44 | €2,569 | €644 | -€1,925 | -74.9% |
| Suppliers | 440/4 | €2,569 | €644 | -€1,925 | -74.9% |
| Taxes, remuneration and social security | 45 | €15,579 | €17,837 | +€2,258 | +14.5% |
| Taxes | 450/3 | €14,120 | €16,378 | +€2,258 | +16.0% |
| Remuneration and social security | 454/9 | €1,459 | €1,459 | = | 0.0% |
| Other amounts payable | 47/48 | €5,335 | €7,174 | +€1,839 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,617 | €1,859 | +€242 | +14.9% |
| Other operating charges | 640/8 | €441 | €207 | -€234 | -53.1% |
| Gross operating margin | 9900 | €55,028 | €68,951 | +€13,923 | +25.3% |
| Operating profit (loss) | 9901 | €52,970 | €66,886 | +€13,916 | +26.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.5% |
| Financial charges | 65/66B | €92 | €87 | -€5 | -5.8% |
| Recurring financial charges | 65 | €92 | €87 | -€5 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €52,878 | €66,799 | +€13,921 | +26.3% |
| Income taxes | 67/77 | €15,274 | €18,401 | +€3,127 | +20.5% |
| Profit (loss) for the period | 9904 | €37,604 | €48,398 | +€10,794 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,604 | €48,398 | +€10,794 | +28.7% |
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.