FIRST SERVICES: 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 SERVICES
Largest movements
- Cash +€14,286
up €14,286 (+65.0%), from €21,965 to €36,251
mainly Net result for the year (+€27,797) and Depreciation (+€17,699)
- Tangible fixed assets -€10,490
down €10,490 (-3.0%), from €355,533 to €345,043
of which Land and buildings: -€11,339
- Other debts -€33,706
down €33,706 (-9.1%), from €369,108 to €335,401
- Reserves +€23,105
up €23,105 (+96.4%), from €23,972 to €47,077
- Profit (loss) carried forward +€4,693
no longer reported in 2025 (was -€4,693)
- Tax, wage and social debts +€4,617
up €4,617 (+44.8%), from €10,304 to €14,921
- Gross operating margin +€46,480
up €46,480 (+355.1%), from €13,088 to €59,568
- Taxes +€12,044
up €12,044 (+4185.6%), from €288 to €12,331
- Other operating charges +€1,436
up €1,436 (+428.4%), from €335 to €1,771
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 | €418,112 | €416,964 | -€1,148 | -0.3% |
| Fixed assets | 21/28 | €355,533 | €345,043 | -€10,490 | -3.0% |
| Tangible fixed assets | 22/27 | €355,533 | €345,043 | -€10,490 | -3.0% |
| Land and buildings | 22 | €347,692 | €336,353 | -€11,339 | -3.3% |
| Plant, machinery and equipment | 23 | €7,162 | €7,370 | +€208 | +2.9% |
| Furniture and vehicles | 24 | €679 | €1,320 | +€641 | +94.5% |
| Current assets | 29/58 | €62,579 | €71,921 | +€9,342 | +14.9% |
| Amounts receivable within one year | 40/41 | €24,946 | €23,655 | -€1,291 | -5.2% |
| Trade receivables | 40 | €15,246 | €13,955 | -€1,291 | -8.5% |
| Other amounts receivable | 41 | €9,700 | €9,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,965 | €36,251 | +€14,286 | +65.0% |
| Deferred charges and accrued income | 490/1 | €15,668 | €12,016 | -€3,653 | -23.3% |
| Total equity and liabilities | 10/49 | €418,112 | €416,964 | -€1,148 | -0.3% |
| Equity | 10/15 | €37,622 | €65,419 | +€27,797 | +73.9% |
| Contributions | 10/11 | €18,342 | €18,342 | = | 0.0% |
| Reserves | 13 | €23,972 | €47,077 | +€23,105 | +96.4% |
| Distributable reserves | 133 | €23,972 | €47,077 | +€23,105 | +96.4% |
| Profit (loss) carried forward | 14 | -€4,693 | - | +€4,693 | |
| Amounts payable | 17/49 | €380,490 | €351,545 | -€28,946 | -7.6% |
| Amounts payable within one year | 42/48 | €380,490 | €351,545 | -€28,946 | -7.6% |
| Trade debts | 44 | €1,079 | €1,222 | +€144 | +13.3% |
| Suppliers | 440/4 | €1,079 | €1,222 | +€144 | +13.3% |
| Taxes, remuneration and social security | 45 | €10,304 | €14,921 | +€4,617 | +44.8% |
| Taxes | 450/3 | €10,304 | €14,921 | +€4,617 | +44.8% |
| Other amounts payable | 47/48 | €369,108 | €335,401 | -€33,706 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,398 | €17,699 | +€301 | +1.7% |
| Other operating charges | 640/8 | €335 | €1,771 | +€1,436 | +428.4% |
| Gross operating margin | 9900 | €13,088 | €59,568 | +€46,480 | +355.1% |
| Operating profit (loss) | 9901 | -€4,646 | €40,098 | +€44,744 | |
| Financial income | 75/76B | €120 | €104 | -€16 | -13.2% |
| Recurring financial income | 75 | €120 | €104 | -€16 | -13.2% |
| Financial charges | 65/66B | €180 | €74 | -€107 | -59.2% |
| Recurring financial charges | 65 | €180 | €74 | -€107 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,706 | €40,129 | +€44,835 | |
| Income taxes | 67/77 | €288 | €12,331 | +€12,044 | +4185.6% |
| Profit (loss) for the period | 9904 | -€4,994 | €27,797 | +€32,791 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,994 | €27,797 | +€32,791 |
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 1 October 2026 via checked.be.