FIRMIN: what changed
Two fiscal 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.
FIRMIN
Largest movements
- Tangible fixed assets +€169,221
up €169,221 (+82.7%), from €204,678 to €373,900
of which Other tangible fixed assets: +€151,761
- Receivables within one year -€159,326
down €159,326 (-30.7%), from €518,546 to €359,220
of which Trade receivables: -€180,350
- Cash -€39,662
down €39,662 (-70.6%), from €56,154 to €16,493
mainly Investment in fixed assets (net) (-€226,988) and Debts after one year (-€51,449)
- Stocks and contracts -€26,764
down €26,764 (-56.9%), from €47,018 to €20,255
- Debts after one year -€51,449
down €51,449 (-51.5%), from €99,849 to €48,400
- Trade debts +€29,575
up €29,575 (+17.2%), from €171,576 to €201,151
- Reserves -€20,073
down €20,073 (-3.3%), from €613,512 to €593,439
of which Tax-exempt reserves: -€20,073
- Tax, wage and social debts -€11,379
down €11,379 (-99.2%), from €11,465 to €86
- Gross operating margin -€795,156
down €795,156, from €793,049 to -€2,107
- Write-downs -€45,560
down €45,560, from €11,500 to -€34,060
- Depreciation +€24,741
up €24,741 (+55.9%), from €44,225 to €68,966
- Staff costs -€10,994
down €10,994 (-90.0%), from €12,218 to €1,224
- Financial income +€10,891
up €10,891 (+188.1%), from €5,789 to €16,679
of which Financial income: +€10,484
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €837,596 | €771,969 | -€65,626 | -7.8% |
| Fixed assets | 21/28 | €215,877 | €373,900 | +€158,023 | +73.2% |
| Intangible fixed assets | 21 | €7,259 | - | -€7,259 | |
| Tangible fixed assets | 22/27 | €204,678 | €373,900 | +€169,221 | +82.7% |
| Plant, machinery and equipment | 23 | €39,942 | €82,788 | +€42,846 | +107.3% |
| Leasing and similar rights | 25 | €164,737 | €139,351 | -€25,386 | -15.4% |
| Other tangible fixed assets | 26 | - | €151,761 | +€151,761 | |
| Financial fixed assets | 28 | €3,940 | - | -€3,940 | |
| Current assets | 29/58 | €621,718 | €398,069 | -€223,649 | -36.0% |
| Stocks and contracts in progress | 3 | €47,018 | €20,255 | -€26,764 | -56.9% |
| Stocks | 30/36 | €47,018 | €20,255 | -€26,764 | -56.9% |
| Amounts receivable within one year | 40/41 | €518,546 | €359,220 | -€159,326 | -30.7% |
| Trade receivables | 40 | €259,800 | €79,450 | -€180,350 | -69.4% |
| Other amounts receivable | 41 | €258,746 | €279,770 | +€21,024 | +8.1% |
| Cash at bank and in hand | 54/58 | €56,154 | €16,493 | -€39,662 | -70.6% |
| Deferred charges and accrued income | 490/1 | - | €2,102 | +€2,102 | |
| Total equity and liabilities | 10/49 | €837,596 | €771,969 | -€65,626 | -7.8% |
| Equity | 10/15 | €301,746 | €274,692 | -€27,055 | -9.0% |
| Contributions | 10/11 | €143,816 | €143,816 | = | 0.0% |
| Reserves | 13 | €613,512 | €593,439 | -€20,073 | -3.3% |
| Non-distributable reserves | 130/1 | €865 | €865 | = | 0.0% |
| Other | 1319 | €865 | €865 | = | 0.0% |
| Tax-exempt reserves | 132 | €612,647 | €592,574 | -€20,073 | -3.3% |
| Profit (loss) carried forward | 14 | -€455,581 | -€462,563 | -€6,982 | -1.5% |
| Provisions and deferred taxes | 16 | €202,882 | €196,191 | -€6,691 | -3.3% |
| Deferred taxes | 168 | €202,882 | €196,191 | -€6,691 | -3.3% |
| Amounts payable | 17/49 | €332,967 | €301,086 | -€31,880 | -9.6% |
| Amounts payable after more than one year | 17 | €99,849 | €48,400 | -€51,449 | -51.5% |
| Financial debts | 170/4 | €99,849 | €48,400 | -€51,449 | -51.5% |
| Amounts payable within one year | 42/48 | €233,117 | €252,686 | +€19,569 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €50,076 | €51,449 | +€1,373 | +2.7% |
| Trade debts | 44 | €171,576 | €201,151 | +€29,575 | +17.2% |
| Suppliers | 440/4 | €171,576 | €201,151 | +€29,575 | +17.2% |
| Taxes, remuneration and social security | 45 | €11,465 | €86 | -€11,379 | -99.2% |
| Taxes | 450/3 | €11,465 | €86 | -€11,379 | -99.2% |
| Non-recurring operating income | 76A | €2 | - | -€2 | |
| Remuneration, social security and pensions | 62 | €12,218 | €1,224 | -€10,994 | -90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,225 | €68,966 | +€24,741 | +55.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,500 | -€34,060 | -€45,560 | |
| Other operating charges | 640/8 | €3,653 | €2,083 | -€1,570 | -43.0% |
| Non-recurring operating charges | 66A | €45 | €1,996 | +€1,950 | +4301.8% |
| Gross operating margin | 9900 | €793,049 | -€2,107 | -€795,156 | |
| Operating profit (loss) | 9901 | €721,407 | -€42,315 | -€763,723 | |
| Financial income | 75/76B | €5,789 | €16,679 | +€10,891 | +188.1% |
| Recurring financial income | 75 | €5,789 | €16,273 | +€10,484 | +181.1% |
| Non-recurring financial income | 76B | - | €407 | +€407 | |
| Financial charges | 65/66B | €9,796 | €8,007 | -€1,789 | -18.3% |
| Recurring financial charges | 65 | €9,185 | €4,720 | -€4,465 | -48.6% |
| Non-recurring financial charges | 66B | €611 | €3,287 | +€2,676 | +437.9% |
| Profit (loss) for the period before taxes | 9903 | €717,400 | -€33,643 | -€751,043 | |
| Transfer from deferred taxes | 780 | €6,691 | €6,691 | = | 0.0% |
| Transfer to deferred taxes | 680 | €209,573 | - | -€209,573 | |
| Income taxes | 67/77 | €123 | €103 | -€20 | -16.3% |
| Profit (loss) for the period | 9904 | €514,394 | -€27,055 | -€541,449 | |
| Transfer from tax-exempt reserves | 789 | €20,073 | €20,073 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €628,720 | - | -€628,720 | |
| Profit (loss) for the period to be appropriated | 9905 | -€94,253 | -€6,982 | +€87,271 | +92.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.