First Account: 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.
What changed
First Account
NACE 69.201, Certified accountants and tax accountants
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€88,950
2024 · €119,789-€30,839
Equity
€511,925
2024 · €477,564+€34,361
Cash
€267,734
2024 · €221,900+€45,834
Balance sheet total
€581,036
2024 · €520,425+€60,611
Largest movements
Assets
- Cash +€45,834
up €45,834 (+20.7%), from €221,900 to €267,734
mainly Net result for the year (+€88,950) and Trade debts (+€19,627)
Equity and liabilities
- Reserves +€34,360
up €34,360 (+9.4%), from €367,181 to €401,541
- Trade debts +€19,627
up €19,627 (+694.0%), from €2,828 to €22,455
- Accrued charges and deferred income +€10,000
new in 2025: €10,000
Income statement
- Gross operating margin -€25,936
down €25,936 (-10.1%), from €256,245 to €230,309
- Staff costs +€7,837
up €7,837 (+11.9%), from €66,102 to €73,939
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.
Result 2024
€119,789
Gross operating margin
-€25,936
Staff costs
-€7,837
Depreciation
+€921
Other operating charges
+€120
Financial income
-€3
Financial charges
+€246
Taxes
+€1,650
Result 2025
€88,950
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.
From operations
+€119,489
Investment
-€16,935
Financing
-€56,721
Cash 2024
€221,900
From operations (derived)
+€119,489
Net result for the year
+€88,950
Depreciation
+€10,252
Receivables after one year
-€4,500
Receivables within one year
-€2,693
Deferred charges and accrued income
-€902
Trade debts
+€19,627
Tax, wage and social debts
-€3,935
Other debts
+€2,690
Accrued charges and deferred income
+€10,000
Investment (derived)
-€16,935
Investment in fixed assets (net)
-€11,218
Current investments
-€5,717
Financing
-€56,721
Current portion of long-term debt
-€2,131
Contributions, distributions and other
-€54,590
Cash 2025
€267,734
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €520,425 | €581,036 | +€60,611 | +11.6% |
| Fixed assets | 21/28 | €18,411 | €19,377 | +€966 | +5.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €18,411 | €19,377 | +€966 | +5.2% |
| Plant, machinery and equipment | 23 | €457 | €0 | -€457 | -100.0% |
| Furniture and vehicles | 24 | €1,589 | €1,054 | -€535 | -33.7% |
| Other tangible fixed assets | 26 | €16,365 | €18,323 | +€1,958 | +12.0% |
| Current assets | 29/58 | €502,014 | €561,660 | +€59,646 | +11.9% |
| Amounts receivable after more than one year | 29 | - | €4,500 | +€4,500 | |
| Trade receivables | 290 | - | €4,500 | +€4,500 | |
| Amounts receivable within one year | 40/41 | €234,528 | €237,221 | +€2,693 | +1.1% |
| Trade receivables | 40 | €233,332 | €219,885 | -€13,447 | -5.8% |
| Other amounts receivable | 41 | €1,196 | €17,336 | +€16,140 | +1349.5% |
| Current investments | 50/53 | €28,718 | €34,435 | +€5,717 | +19.9% |
| Cash at bank and in hand | 54/58 | €221,900 | €267,734 | +€45,834 | +20.7% |
| Deferred charges and accrued income | 490/1 | €16,868 | €17,770 | +€902 | +5.3% |
| Total equity and liabilities | 10/49 | €520,425 | €581,036 | +€60,611 | +11.6% |
| Equity | 10/15 | €477,564 | €511,925 | +€34,361 | +7.2% |
| Reserves | 13 | €367,181 | €401,541 | +€34,360 | +9.4% |
| Distributable reserves | 133 | €367,181 | €401,541 | +€34,360 | +9.4% |
| Profit (loss) carried forward | 14 | €110,383 | €110,383 | +€0 | 0.0% |
| Amounts payable | 17/49 | €42,861 | €69,112 | +€26,251 | +61.2% |
| Amounts payable within one year | 42/48 | €42,861 | €59,112 | +€16,251 | +37.9% |
| Current portion of amounts payable after more than one year | 42 | €2,131 | - | -€2,131 | |
| Trade debts | 44 | €2,828 | €22,455 | +€19,627 | +694.0% |
| Suppliers | 440/4 | €2,828 | €22,455 | +€19,627 | +694.0% |
| Taxes, remuneration and social security | 45 | €37,902 | €33,967 | -€3,935 | -10.4% |
| Taxes | 450/3 | €30,423 | €25,810 | -€4,613 | -15.2% |
| Remuneration and social security | 454/9 | €7,479 | €8,157 | +€678 | +9.1% |
| Other amounts payable | 47/48 | - | €2,690 | +€2,690 | |
| Accrued charges and deferred income | 492/3 | - | €10,000 | +€10,000 | |
| Non-recurring operating income | 76A | €28,210 | - | -€28,210 | |
| Remuneration, social security and pensions | 62 | €66,102 | €73,939 | +€7,837 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,173 | €10,252 | -€921 | -8.2% |
| Other operating charges | 640/8 | €1,540 | €1,420 | -€120 | -7.8% |
| Gross operating margin | 9900 | €256,245 | €230,309 | -€25,936 | -10.1% |
| Operating profit (loss) | 9901 | €177,430 | €144,698 | -€32,732 | -18.4% |
| Financial income | 75/76B | €1,524 | €1,521 | -€3 | -0.2% |
| Recurring financial income | 75 | €1,524 | €1,521 | -€3 | -0.2% |
| Non-recurring financial income | 76B | - | €1,521 | +€1,521 | |
| Financial charges | 65/66B | €3,110 | €2,864 | -€246 | -7.9% |
| Recurring financial charges | 65 | €3,110 | €2,864 | -€246 | -7.9% |
| Non-recurring financial charges | 66B | - | €2,864 | +€2,864 | |
| Profit (loss) for the period before taxes | 9903 | €175,844 | €143,355 | -€32,489 | -18.5% |
| Income taxes | 67/77 | €56,055 | €54,405 | -€1,650 | -2.9% |
| Profit (loss) for the period | 9904 | €119,789 | €88,950 | -€30,839 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €119,789 | €88,950 | -€30,839 | -25.7% |
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 12 October 2026 via checked.be.