FIRST LINE CONSULTING: 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 LINE CONSULTING
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€60,254
2024 · €51,486+€8,768
Equity
€476,354
2024 · €444,099+€32,254
Cash
€26,452
2024 · €13,380+€13,072
Balance sheet total
€1.1m
2024 · €1.2m-€99,667
Largest movements
Assets
- Tangible fixed assets -€110,615
down €110,615 (-9.9%), from €1.1m to €1.0m
of which Land and buildings: -€90,889
- Cash +€13,072
up €13,072 (+97.7%), from €13,380 to €26,452
mainly Investment in fixed assets (net) (+€62,648) and Net result for the year (+€60,254)
Equity and liabilities
- Debts after one year -€110,250
down €110,250 (-36.0%), from €306,250 to €196,000
- Reserves +€31,805
up €31,805 (+10.4%), from €304,447 to €336,252
of which Tax-exempt reserves: +€32,305
- Current portion of long-term debt -€21,000
down €21,000 (-36.0%), from €58,333 to €37,333
Income statement
- Gross operating margin +€9,234
up €9,234 (+6.2%), from €149,949 to €159,182
- Taxes -€7,113
down €7,113 (-34.7%), from €20,505 to €13,392
- Financial income +€2,600
up €2,600 (+1,246%), from €209 to €2,809
- Depreciation +€2,244
up €2,244 (+4.6%), from €48,403 to €50,647
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
€51,486
Gross operating margin
+€9,234
Depreciation
-€2,244
Other operating charges
-€794
Financial income
+€2,600
Financial charges
+€936
Taxes
+€7,113
Deferred taxes and other
-€8,076
Result 2025
€60,254
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€109,764
Investment
+€62,648
Financing
-€159,340
Cash 2024
€13,380
From operations (derived)
+€109,764
Net result for the year
+€60,254
Depreciation
+€50,647
Receivables within one year
-€603
Deferred charges and accrued income
+€46
Provisions
+€8,076
Trade debts
-€8,810
Tax, wage and social debts
-€7,975
Other debts
+€8,128
Investment (derived)
+€62,648
Investment in fixed assets (net)
+€62,648
Financing
-€159,340
Debts after one year
-€110,250
Current portion of long-term debt
-€21,000
Short-term financial debts
-€90
Contributions, distributions and other
-€28,000
Cash 2025
€26,452
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,161,465 | €1,061,798 | -€99,667 | -8.6% |
| Fixed assets | 21/28 | €1,121,716 | €1,008,420 | -€113,296 | -10.1% |
| Intangible fixed assets | 21 | €4,886 | €2,205 | -€2,680 | -54.9% |
| Tangible fixed assets | 22/27 | €1,116,830 | €1,006,215 | -€110,615 | -9.9% |
| Land and buildings | 22 | €1,069,609 | €978,721 | -€90,889 | -8.5% |
| Plant, machinery and equipment | 23 | €527 | €1,446 | +€919 | +175% |
| Furniture and vehicles | 24 | €32,367 | €26,048 | -€6,318 | -19.5% |
| Assets under construction and advance payments | 27 | €14,328 | €0 | -€14,328 | -100% |
| Current assets | 29/58 | €39,749 | €53,377 | +€13,628 | +34.3% |
| Amounts receivable within one year | 40/41 | €23,473 | €24,075 | +€603 | +2.6% |
| Trade receivables | 40 | €17,333 | €13,980 | -€3,353 | -19.3% |
| Other amounts receivable | 41 | €6,140 | €10,095 | +€3,955 | +64.4% |
| Cash at bank and in hand | 54/58 | €13,380 | €26,452 | +€13,072 | +97.7% |
| Deferred charges and accrued income | 490/1 | €2,896 | €2,850 | -€46 | -1.6% |
| Total equity and liabilities | 10/49 | €1,161,465 | €1,061,798 | -€99,667 | -8.6% |
| Equity | 10/15 | €444,099 | €476,354 | +€32,254 | +7.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €304,447 | €336,252 | +€31,805 | +10.4% |
| Tax-exempt reserves | 132 | - | €32,305 | +€32,305 | |
| Distributable reserves | 133 | €304,447 | €303,947 | -€500 | -0.2% |
| Profit (loss) carried forward | 14 | €127,252 | €127,702 | +€450 | +0.4% |
| Provisions and deferred taxes | 16 | €34,000 | €42,076 | +€8,076 | +23.8% |
| Provisions for liabilities and charges | 160/5 | €34,000 | €34,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €34,000 | €34,000 | = | 0.0% |
| Deferred taxes | 168 | - | €8,076 | +€8,076 | |
| Amounts payable | 17/49 | €683,365 | €543,368 | -€139,998 | -20.5% |
| Amounts payable after more than one year | 17 | €306,250 | €196,000 | -€110,250 | -36.0% |
| Financial debts | 170/4 | €306,250 | €196,000 | -€110,250 | -36.0% |
| Amounts payable within one year | 42/48 | €377,115 | €347,368 | -€29,748 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €58,333 | €37,333 | -€21,000 | -36.0% |
| Financial debts | 43 | €90 | €0 | -€90 | -100% |
| Other loans | 439 | €90 | €0 | -€90 | -100% |
| Trade debts | 44 | €10,507 | €1,696 | -€8,810 | -83.9% |
| Suppliers | 440/4 | €10,507 | €1,696 | -€8,810 | -83.9% |
| Taxes, remuneration and social security | 45 | €24,755 | €16,780 | -€7,975 | -32.2% |
| Taxes | 450/3 | €24,755 | €16,780 | -€7,975 | -32.2% |
| Other amounts payable | 47/48 | €283,430 | €291,557 | +€8,128 | +2.9% |
| Non-recurring operating income | 76A | €2,479 | €40,673 | +€38,193 | +1,540% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,403 | €50,647 | +€2,244 | +4.6% |
| Other operating charges | 640/8 | €3,984 | €4,778 | +€794 | +19.9% |
| Gross operating margin | 9900 | €149,949 | €159,182 | +€9,234 | +6.2% |
| Operating profit (loss) | 9901 | €97,562 | €103,757 | +€6,195 | +6.3% |
| Financial income | 75/76B | €209 | €2,809 | +€2,600 | +1,246% |
| Recurring financial income | 75 | €209 | €2,809 | +€2,600 | +1,246% |
| Financial charges | 65/66B | €25,779 | €24,843 | -€936 | -3.6% |
| Recurring financial charges | 65 | €25,779 | €24,843 | -€936 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €71,991 | €81,723 | +€9,731 | +13.5% |
| Transfer from deferred taxes | 780 | - | €58 | +€58 | |
| Transfer to deferred taxes | 680 | - | €8,135 | +€8,135 | |
| Income taxes | 67/77 | €20,505 | €13,392 | -€7,113 | -34.7% |
| Profit (loss) for the period | 9904 | €51,486 | €60,254 | +€8,768 | +17.0% |
| Transfer from tax-exempt reserves | 789 | - | €233 | +€233 | |
| Transfer to tax-exempt reserves | 689 | - | €32,538 | +€32,538 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,486 | €27,950 | -€23,537 | -45.7% |
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 17 October 2026 via checked.be.