Firgun Management: 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.
Firgun Management
Largest movements
- Receivables within one year +€56,992
up €56,992 (+129%), from €44,270 to €101,262
of which Trade receivables: +€45,375
- Cash -€36,181
down €36,181 (-23.6%), from €153,172 to €116,991
mainly Receivables within one year (-€56,992) and Tax, wage and social debts (-€37,188)
- Tangible fixed assets -€2,692
down €2,692 (-14.5%), from €18,582 to €15,891
of which Other tangible fixed assets: -€1,366
- Reserves +€54,443
up €54,443 (+34.9%), from €155,909 to €210,352
- Tax, wage and social debts -€37,188
down €37,188 (-71.9%), from €51,753 to €14,565
- Gross operating margin -€5,316
down €5,316 (-7.0%), from €75,974 to €70,658
- Depreciation +€1,216
up €1,216 (+82.3%), from €1,476 to €2,692
- Taxes -€902
down €902 (-6.0%), from €15,019 to €14,117
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 | €216,024 | €234,144 | +€18,120 | +8.4% |
| Fixed assets | 21/28 | €18,582 | €15,891 | -€2,692 | -14.5% |
| Tangible fixed assets | 22/27 | €18,582 | €15,891 | -€2,692 | -14.5% |
| Furniture and vehicles | 24 | €6,520 | €5,194 | -€1,326 | -20.3% |
| Other tangible fixed assets | 26 | €12,063 | €10,697 | -€1,366 | -11.3% |
| Current assets | 29/58 | €197,442 | €218,253 | +€20,811 | +10.5% |
| Amounts receivable within one year | 40/41 | €44,270 | €101,262 | +€56,992 | +129% |
| Trade receivables | 40 | €30,250 | €75,625 | +€45,375 | +150% |
| Other amounts receivable | 41 | €14,020 | €25,637 | +€11,617 | +82.9% |
| Cash at bank and in hand | 54/58 | €153,172 | €116,991 | -€36,181 | -23.6% |
| Total equity and liabilities | 10/49 | €216,024 | €234,144 | +€18,120 | +8.4% |
| Equity | 10/15 | €160,909 | €215,352 | +€54,443 | +33.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €155,909 | €210,352 | +€54,443 | +34.9% |
| Distributable reserves | 133 | €155,909 | €210,352 | +€54,443 | +34.9% |
| Amounts payable | 17/49 | €55,115 | €18,792 | -€36,323 | -65.9% |
| Amounts payable within one year | 42/48 | €51,779 | €15,940 | -€35,839 | -69.2% |
| Trade debts | 44 | €27 | €1,375 | +€1,349 | +5,026% |
| Suppliers | 440/4 | €27 | €1,375 | +€1,349 | +5,026% |
| Taxes, remuneration and social security | 45 | €51,753 | €14,565 | -€37,188 | -71.9% |
| Taxes | 450/3 | €51,753 | €14,565 | -€37,188 | -71.9% |
| Accrued charges and deferred income | 492/3 | €3,336 | €2,852 | -€484 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,476 | €2,692 | +€1,216 | +82.3% |
| Other operating charges | 640/8 | €118 | €300 | +€182 | +154% |
| Gross operating margin | 9900 | €75,974 | €70,658 | -€5,316 | -7.0% |
| Operating profit (loss) | 9901 | €74,380 | €67,666 | -€6,714 | -9.0% |
| Financial income | 75/76B | €369 | €958 | +€589 | +160% |
| Recurring financial income | 75 | €369 | €958 | +€589 | +160% |
| Financial charges | 65/66B | €133 | €64 | -€69 | -51.8% |
| Recurring financial charges | 65 | €133 | €64 | -€69 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | €74,616 | €68,560 | -€6,056 | -8.1% |
| Income taxes | 67/77 | €15,019 | €14,117 | -€902 | -6.0% |
| Profit (loss) for the period | 9904 | €59,597 | €54,443 | -€5,154 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,597 | €54,443 | -€5,154 | -8.6% |
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 29 October 2026 via checked.be.