First & Johnson: 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 & Johnson
Largest movements
- Receivables within one year +€972,565
up €972,565 (+365.7%), from €265,950 to €1.2m
of which Other amounts receivable: +€970,917
- Tangible fixed assets -€335,063
down €335,063 (-30.5%), from €1.1m to €763,203
of which Land and buildings: -€334,464
- Intangible fixed assets -€24,344
down €24,344 (-27.6%), from €88,264 to €63,920
- Other debts +€483,125
up €483,125 (+39.5%), from €1.2m to €1.7m
- Profit (loss) carried forward +€237,452
up €237,452, from -€58,653 to €178,799
- Debts after one year -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Gross operating margin +€211,641
up €211,641 (+299.8%), from €70,598 to €282,239
- Turnover +€59,219
new in 2025: €59,219
- Other operating charges +€43,837
up €43,837 (+965.2%), from €4,542 to €48,379
- Write-downs -€43,280
down €43,280, from €0 to -€43,280
- Purchases and services +€41,236
new in 2025: €41,236
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 | €1,455,265 | €2,070,183 | +€614,918 | +42.3% |
| Fixed assets | 21/28 | €1,186,529 | €827,122 | -€359,407 | -30.3% |
| Intangible fixed assets | 21 | €88,264 | €63,920 | -€24,344 | -27.6% |
| Tangible fixed assets | 22/27 | €1,098,266 | €763,203 | -€335,063 | -30.5% |
| Land and buildings | 22 | €1,096,172 | €761,708 | -€334,464 | -30.5% |
| Plant, machinery and equipment | 23 | €2,094 | €1,495 | -€599 | -28.6% |
| Current assets | 29/58 | €268,735 | €1,243,061 | +€974,326 | +362.6% |
| Amounts receivable within one year | 40/41 | €265,950 | €1,238,515 | +€972,565 | +365.7% |
| Trade receivables | 40 | €6,249 | €7,898 | +€1,648 | +26.4% |
| Other amounts receivable | 41 | €259,701 | €1,230,617 | +€970,917 | +373.9% |
| Cash at bank and in hand | 54/58 | €454 | €74 | -€380 | -83.7% |
| Deferred charges and accrued income | 490/1 | €2,331 | €4,472 | +€2,140 | +91.8% |
| Total equity and liabilities | 10/49 | €1,455,265 | €2,070,183 | +€614,918 | +42.3% |
| Equity | 10/15 | €118,007 | €355,459 | +€237,452 | +201.2% |
| Contributions | 10/11 | €154,933 | €154,933 | = | 0.0% |
| Capital | 10 | €154,933 | €154,933 | = | 0.0% |
| Issued capital | 100 | €154,933 | €154,933 | = | 0.0% |
| Reserves | 13 | €21,727 | €21,727 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,493 | €15,493 | = | 0.0% |
| Legal reserve | 130 | €15,493 | €15,493 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,233 | €6,233 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,653 | €178,799 | +€237,452 | |
| Amounts payable | 17/49 | €1,337,258 | €1,714,724 | +€377,466 | +28.2% |
| Amounts payable after more than one year | 17 | €100,000 | €0 | -€100,000 | -100.0% |
| Financial debts | 170/4 | €100,000 | €0 | -€100,000 | -100.0% |
| Amounts payable within one year | 42/48 | €1,237,069 | €1,714,724 | +€477,655 | +38.6% |
| Trade debts | 44 | €8,307 | €4,455 | -€3,853 | -46.4% |
| Suppliers | 440/4 | €8,307 | €4,455 | -€3,853 | -46.4% |
| Taxes, remuneration and social security | 45 | €4,217 | €2,601 | -€1,616 | -38.3% |
| Taxes | 450/3 | €74 | €953 | +€879 | +1185.1% |
| Remuneration and social security | 454/9 | €4,143 | €1,648 | -€2,495 | -60.2% |
| Other amounts payable | 47/48 | €1,224,544 | €1,707,669 | +€483,125 | +39.5% |
| Accrued charges and deferred income | 492/3 | €189 | €0 | -€189 | -100.0% |
| Turnover | 70 | - | €59,219 | +€59,219 | |
| Non-recurring operating income | 76A | - | €262,605 | +€262,605 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €41,236 | +€41,236 | |
| Remuneration, social security and pensions | 62 | €26,379 | €4,875 | -€21,504 | -81.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,097 | €37,012 | +€2,915 | +8.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€43,280 | -€43,280 | |
| Other operating charges | 640/8 | €4,542 | €48,379 | +€43,837 | +965.2% |
| Gross operating margin | 9900 | €70,598 | €282,239 | +€211,641 | +299.8% |
| Operating profit (loss) | 9901 | €5,580 | €235,252 | +€229,672 | +4116.2% |
| Financial income | 75/76B | €386 | €3,784 | +€3,398 | +879.2% |
| Recurring financial income | 75 | €386 | €3,784 | +€3,398 | +879.2% |
| Financial charges | 65/66B | €2,230 | €1,509 | -€721 | -32.3% |
| Recurring financial charges | 65 | €2,230 | €1,509 | -€721 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €3,736 | €237,527 | +€233,791 | +6258.3% |
| Income taxes | 67/77 | €74 | €75 | +€1 | +0.9% |
| Profit (loss) for the period | 9904 | €3,662 | €237,452 | +€233,790 | +6385.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,662 | €237,452 | +€233,790 | +6385.0% |
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 9 October 2026 via checked.be.