FIRI: 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.
FIRI
Largest movements
- Tangible fixed assets +€110,799
up €110,799 (+17.2%), from €643,650 to €754,449
of which Other tangible fixed assets: +€116,431
- Cash -€31,636
down €31,636 (-37.7%), from €83,826 to €52,190
mainly Investment in fixed assets (net) (-€144,648) and Current portion of long-term debt (-€8,615)
- Debts after one year +€69,948
up €69,948, from €0 to €69,948
- Gross operating margin -€61,209
down €61,209 (-30.1%), from €203,105 to €141,895
- Financial charges -€20,898
down €20,898 (-45.2%), from €46,275 to €25,378
- Taxes -€11,749
down €11,749 (-71.1%), from €16,522 to €4,773
- Depreciation +€7,234
up €7,234 (+27.2%), from €26,615 to €33,849
- Staff costs -€6,697
down €6,697 (-9.4%), from €71,518 to €64,820
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 | €1,430,786 | €1,499,020 | +€68,234 | +4.8% |
| Fixed assets | 21/28 | €1,258,670 | €1,369,469 | +€110,799 | +8.8% |
| Tangible fixed assets | 22/27 | €643,650 | €754,449 | +€110,799 | +17.2% |
| Land and buildings | 22 | €160,067 | €160,067 | = | 0.0% |
| Furniture and vehicles | 24 | €16,389 | €10,756 | -€5,632 | -34.4% |
| Other tangible fixed assets | 26 | €467,194 | €583,625 | +€116,431 | +24.9% |
| Financial fixed assets | 28 | €615,020 | €615,020 | = | 0.0% |
| Current assets | 29/58 | €172,116 | €129,552 | -€42,565 | -24.7% |
| Amounts receivable within one year | 40/41 | €75,191 | €64,140 | -€11,051 | -14.7% |
| Trade receivables | 40 | €65,464 | €57,573 | -€7,891 | -12.1% |
| Other amounts receivable | 41 | €9,727 | €6,567 | -€3,160 | -32.5% |
| Cash at bank and in hand | 54/58 | €83,826 | €52,190 | -€31,636 | -37.7% |
| Deferred charges and accrued income | 490/1 | €13,100 | €13,222 | +€123 | +0.9% |
| Total equity and liabilities | 10/49 | €1,430,786 | €1,499,020 | +€68,234 | +4.8% |
| Equity | 10/15 | €805,396 | €815,767 | +€10,372 | +1.3% |
| Contributions | 10/11 | €124,100 | €124,100 | = | 0.0% |
| Reserves | 13 | €681,296 | €691,667 | +€10,372 | +1.5% |
| Distributable reserves | 133 | €681,296 | €691,667 | +€10,372 | +1.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €625,390 | €683,253 | +€57,863 | +9.3% |
| Amounts payable after more than one year | 17 | €0 | €69,948 | +€69,948 | |
| Financial debts | 170/4 | €0 | €69,948 | +€69,948 | |
| Amounts payable within one year | 42/48 | €624,545 | €612,285 | -€12,260 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €29,333 | €20,718 | -€8,615 | -29.4% |
| Trade debts | 44 | €11,606 | €14,910 | +€3,303 | +28.5% |
| Suppliers | 440/4 | €11,606 | €14,910 | +€3,303 | +28.5% |
| Taxes, remuneration and social security | 45 | €35,788 | €28,259 | -€7,529 | -21.0% |
| Taxes | 450/3 | €28,014 | €21,309 | -€6,705 | -23.9% |
| Remuneration and social security | 454/9 | €7,774 | €6,950 | -€824 | -10.6% |
| Other amounts payable | 47/48 | €547,817 | €548,399 | +€582 | +0.1% |
| Accrued charges and deferred income | 492/3 | €845 | €1,021 | +€175 | +20.7% |
| Remuneration, social security and pensions | 62 | €71,518 | €64,820 | -€6,697 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,615 | €33,849 | +€7,234 | +27.2% |
| Other operating charges | 640/8 | €2,706 | €2,789 | +€83 | +3.1% |
| Gross operating margin | 9900 | €203,105 | €141,895 | -€61,209 | -30.1% |
| Operating profit (loss) | 9901 | €102,267 | €40,437 | -€61,829 | -60.5% |
| Financial income | 75/76B | €1,098 | €85 | -€1,013 | -92.3% |
| Recurring financial income | 75 | €1,098 | €85 | -€1,013 | -92.3% |
| Financial charges | 65/66B | €46,275 | €25,378 | -€20,898 | -45.2% |
| Recurring financial charges | 65 | €46,275 | €25,378 | -€20,898 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €57,089 | €15,144 | -€41,945 | -73.5% |
| Income taxes | 67/77 | €16,522 | €4,773 | -€11,749 | -71.1% |
| Profit (loss) for the period | 9904 | €40,567 | €10,372 | -€30,195 | -74.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,567 | €10,372 | -€30,195 | -74.4% |
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 15 October 2026 via checked.be.