FIRST2: what changed
FIRST2
Largest movements
- Receivables within one year +€1,899
up €1,899 (+130%), from €1,464 to €3,363
- Reserves -€80,000
down €80,000 (-72.0%), from €111,105 to €31,105
- Other debts +€69,500
up €69,500 (+130%), from €53,571 to €123,071
- Trade debts +€11,924
up €11,924 (+15,760%), from €76 to €12,000
- Financial income +€2,210
up €2,210 (+54.2%), from €4,079 to €6,289
- Gross operating margin +€1,085
up €1,085 (+15.9%), from -€6,836 to -€5,752
- Other operating charges -€261
down €261 (-36.1%), from €723 to €462
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,755 | €159,215 | +€1,460 | +0.9% |
| Current assets | 29/58 | €157,755 | €159,215 | +€1,460 | +0.9% |
| Amounts receivable within one year | 40/41 | €1,464 | €3,363 | +€1,899 | +130% |
| Other amounts receivable | 41 | €1,464 | €3,363 | +€1,899 | +130% |
| Cash at bank and in hand | 54/58 | €156,291 | €155,852 | -€439 | -0.3% |
| Total equity and liabilities | 10/49 | €157,755 | €159,215 | +€1,460 | +0.9% |
| Equity | 10/15 | €104,108 | €24,144 | -€79,965 | -76.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,105 | €31,105 | -€80,000 | -72.0% |
| Distributable reserves | 133 | €111,105 | €31,105 | -€80,000 | -72.0% |
| Profit (loss) carried forward | 14 | -€25,596 | -€25,561 | +€35 | +0.1% |
| Amounts payable | 17/49 | €53,647 | €135,071 | +€81,424 | +152% |
| Amounts payable within one year | 42/48 | €53,647 | €135,071 | +€81,424 | +152% |
| Trade debts | 44 | €76 | €12,000 | +€11,924 | +15,760% |
| Suppliers | 440/4 | €76 | €12,000 | +€11,924 | +15,760% |
| Other amounts payable | 47/48 | €53,571 | €123,071 | +€69,500 | +130% |
| Non-recurring operating income | 76A | €1,800 | - | -€1,800 | |
| Other operating charges | 640/8 | €723 | €462 | -€261 | -36.1% |
| Gross operating margin | 9900 | -€6,836 | -€5,752 | +€1,085 | +15.9% |
| Operating profit (loss) | 9901 | -€7,559 | -€6,213 | +€1,346 | +17.8% |
| Financial income | 75/76B | €4,079 | €6,289 | +€2,210 | +54.2% |
| Recurring financial income | 75 | €4,079 | €6,289 | +€2,210 | +54.2% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,519 | €35 | +€3,555 | |
| Profit (loss) for the period | 9904 | -€3,519 | €35 | +€3,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,519 | €35 | +€3,555 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.