First-IT: 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.
First-IT
Largest movements
- Receivables within one year +€336,882
up €336,882 (+38.6%), from €873,223 to €1.2m
of which Other amounts receivable: +€293,445
- Cash +€234,748
up €234,748 (+1856.2%), from €12,646 to €247,395
mainly Trade debts (+€239,323) and Short-term financial debts (+€173,937)
- Formation expenses -€109,581
down €109,581 (-23.9%), from €457,771 to €348,190
- Deferred charges and accrued income -€57,399
down €57,399 (-39.1%), from €146,869 to €89,471
- Tangible fixed assets -€35,034
down €35,034 (-38.1%), from €91,904 to €56,870
of which Plant, machinery and equipment: -€19,229
- Trade debts +€239,323
up €239,323 (+20.6%), from €1.2m to €1.4m
- Short-term financial debts +€173,937
up €173,937 (+84.6%), from €205,484 to €379,421
- Tax, wage and social debts -€141,411
down €141,411 (-27.5%), from €514,266 to €372,855
of which Taxes: -€99,419
- Profit (loss) carried forward +€116,253
up €116,253 (+5.7%), from -€2.0m to -€1.9m
- Turnover -€892,343
down €892,343 (-17.8%), from €5.0m to €4.1m
- Gross operating margin -€560,905
down €560,905 (-28.6%), from €2.0m to €1.4m
- Staff costs -€531,547
down €531,547 (-32.5%), from €1.6m to €1.1m
- Purchases and services -€330,236
down €330,236 (-10.6%), from €3.1m to €2.8m
- Other operating charges -€86,670
down €86,670 (-91.5%), from €94,676 to €8,006
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 | €1,598,115 | €1,971,338 | +€373,223 | +23.4% |
| Formation expenses | 20 | €457,771 | €348,190 | -€109,581 | -23.9% |
| Fixed assets | 21/28 | €107,605 | €76,177 | -€31,429 | -29.2% |
| Intangible fixed assets | 21 | €0 | €3,606 | +€3,606 | |
| Tangible fixed assets | 22/27 | €91,904 | €56,870 | -€35,034 | -38.1% |
| Plant, machinery and equipment | 23 | €45,651 | €26,423 | -€19,229 | -42.1% |
| Furniture and vehicles | 24 | €15,134 | €11,689 | -€3,445 | -22.8% |
| Other tangible fixed assets | 26 | €31,119 | €18,758 | -€12,361 | -39.7% |
| Financial fixed assets | 28 | €15,701 | €15,701 | = | 0.0% |
| Current assets | 29/58 | €1,032,739 | €1,546,971 | +€514,232 | +49.8% |
| Amounts receivable within one year | 40/41 | €873,223 | €1,210,105 | +€336,882 | +38.6% |
| Trade receivables | 40 | €702,934 | €746,371 | +€43,437 | +6.2% |
| Other amounts receivable | 41 | €170,289 | €463,734 | +€293,445 | +172.3% |
| Cash at bank and in hand | 54/58 | €12,646 | €247,395 | +€234,748 | +1856.2% |
| Deferred charges and accrued income | 490/1 | €146,869 | €89,471 | -€57,399 | -39.1% |
| Total equity and liabilities | 10/49 | €1,598,115 | €1,971,338 | +€373,223 | +23.4% |
| Equity | 10/15 | -€782,819 | -€666,566 | +€116,253 | +14.9% |
| Contributions | 10/11 | €1,120,000 | €1,120,000 | = | 0.0% |
| Capital | 10 | €893,600 | €893,600 | = | 0.0% |
| Issued capital | 100 | €1,143,600 | €1,143,600 | = | 0.0% |
| Uncalled capital | 101 | €250,000 | €250,000 | = | 0.0% |
| Outside capital | 11 | €226,400 | €226,400 | = | 0.0% |
| Share premium | 1100/10 | €226,400 | €226,400 | = | 0.0% |
| Reserves | 13 | €131,000 | €131,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €124,000 | €124,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,033,819 | -€1,917,566 | +€116,253 | +5.7% |
| Provisions and deferred taxes | 16 | €12,500 | €12,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €12,500 | €12,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €12,500 | €12,500 | = | 0.0% |
| Amounts payable | 17/49 | €2,368,434 | €2,625,404 | +€256,970 | +10.8% |
| Amounts payable after more than one year | 17 | €470,000 | €470,000 | = | 0.0% |
| Financial debts | 170/4 | €470,000 | €470,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,885,060 | €2,155,404 | +€270,344 | +14.3% |
| Financial debts | 43 | €205,484 | €379,421 | +€173,937 | +84.6% |
| Credit institutions | 430/8 | €205,484 | €379,421 | +€173,937 | +84.6% |
| Trade debts | 44 | €1,163,805 | €1,403,128 | +€239,323 | +20.6% |
| Suppliers | 440/4 | €1,163,805 | €1,403,128 | +€239,323 | +20.6% |
| Taxes, remuneration and social security | 45 | €514,266 | €372,855 | -€141,411 | -27.5% |
| Taxes | 450/3 | €283,865 | €184,446 | -€99,419 | -35.0% |
| Remuneration and social security | 454/9 | €230,401 | €188,409 | -€41,992 | -18.2% |
| Other amounts payable | 47/48 | €1,505 | €0 | -€1,505 | -100.0% |
| Accrued charges and deferred income | 492/3 | €13,374 | €0 | -€13,374 | -100.0% |
| Turnover | 70 | €5,002,512 | €4,110,169 | -€892,343 | -17.8% |
| Non-recurring operating income | 76A | - | €31,403 | +€31,403 | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,128,738 | €2,798,502 | -€330,236 | -10.6% |
| Remuneration, social security and pensions | 62 | €1,633,446 | €1,101,899 | -€531,547 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,549 | €145,537 | +€18,988 | +15.0% |
| Other operating charges | 640/8 | €94,676 | €8,006 | -€86,670 | -91.5% |
| Non-recurring operating charges | 66A | €488 | €0 | -€488 | -100.0% |
| Gross operating margin | 9900 | €1,960,306 | €1,399,402 | -€560,905 | -28.6% |
| Operating profit (loss) | 9901 | €105,148 | €143,960 | +€38,812 | +36.9% |
| Financial income | 75/76B | €4,418 | €4,666 | +€248 | +5.6% |
| Recurring financial income | 75 | €4,418 | €4,666 | +€248 | +5.6% |
| Financial charges | 65/66B | €82,577 | €30,643 | -€51,934 | -62.9% |
| Recurring financial charges | 65 | €82,577 | €30,643 | -€51,934 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €26,989 | €117,983 | +€90,994 | +337.2% |
| Income taxes | 67/77 | €5,929 | €1,731 | -€4,198 | -70.8% |
| Profit (loss) for the period | 9904 | €21,060 | €116,253 | +€95,193 | +452.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,060 | €116,253 | +€95,193 | +452.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.