PASSION FIRST: 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.
PASSION FIRST
Largest movements
- Cash +€31,775
up €31,775 (+154.3%), from €20,595 to €52,370
mainly Receivables within one year (+€18,174) and Net result for the year (+€13,126)
- Receivables within one year -€18,174
down €18,174 (-83.4%), from €21,804 to €3,630
- Tangible fixed assets -€1,713
down €1,713 (-6.0%), from €28,551 to €26,838
of which Other tangible fixed assets: -€1,039
- Deferred charges and accrued income +€1,056
up €1,056 (+82.0%), from €1,287 to €2,344
- Profit (loss) carried forward +€13,126
new in 2025: €13,126
- Tax, wage and social debts +€1,429
up €1,429 (+6.9%), from €20,748 to €22,177
of which Taxes: +€1,429
- Trade debts -€1,145
down €1,145 (-20.2%), from €5,663 to €4,518
- Gross operating margin -€11,804
down €11,804 (-33.4%), from €35,352 to €23,548
- Taxes -€4,207
down €4,207 (-45.6%), from €9,215 to €5,009
- Depreciation +€1,584
up €1,584 (+75.0%), from €2,113 to €3,698
- Financial charges -€371
down €371 (-17.8%), from €2,087 to €1,716
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 | €72,237 | €85,182 | +€12,944 | +17.9% |
| Fixed assets | 21/28 | €28,551 | €26,838 | -€1,713 | -6.0% |
| Tangible fixed assets | 22/27 | €28,551 | €26,838 | -€1,713 | -6.0% |
| Furniture and vehicles | 24 | €1,521 | €847 | -€674 | -44.3% |
| Other tangible fixed assets | 26 | €27,030 | €25,991 | -€1,039 | -3.8% |
| Current assets | 29/58 | €43,687 | €58,344 | +€14,657 | +33.5% |
| Amounts receivable within one year | 40/41 | €21,804 | €3,630 | -€18,174 | -83.4% |
| Trade receivables | 40 | €21,804 | €3,630 | -€18,174 | -83.4% |
| Cash at bank and in hand | 54/58 | €20,595 | €52,370 | +€31,775 | +154.3% |
| Deferred charges and accrued income | 490/1 | €1,287 | €2,344 | +€1,056 | +82.0% |
| Total equity and liabilities | 10/49 | €72,237 | €85,182 | +€12,944 | +17.9% |
| Equity | 10/15 | €42,163 | €55,289 | +€13,126 | +31.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €39,663 | €39,663 | = | 0.0% |
| Distributable reserves | 133 | €39,663 | €39,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €13,126 | +€13,126 | |
| Amounts payable | 17/49 | €30,074 | €29,892 | -€182 | -0.6% |
| Amounts payable within one year | 42/48 | €29,222 | €29,098 | -€125 | -0.4% |
| Trade debts | 44 | €5,663 | €4,518 | -€1,145 | -20.2% |
| Suppliers | 440/4 | €5,663 | €4,518 | -€1,145 | -20.2% |
| Taxes, remuneration and social security | 45 | €20,748 | €22,177 | +€1,429 | +6.9% |
| Taxes | 450/3 | €19,748 | €21,177 | +€1,429 | +7.2% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €2,811 | €2,402 | -€409 | -14.5% |
| Accrued charges and deferred income | 492/3 | €852 | €795 | -€57 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,113 | €3,698 | +€1,584 | +75.0% |
| Other operating charges | 640/8 | €0 | - | = | |
| Gross operating margin | 9900 | €35,352 | €23,548 | -€11,804 | -33.4% |
| Operating profit (loss) | 9901 | €33,239 | €19,850 | -€13,388 | -40.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €2,087 | €1,716 | -€371 | -17.8% |
| Recurring financial charges | 65 | €2,087 | €1,716 | -€371 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €31,152 | €18,135 | -€13,017 | -41.8% |
| Income taxes | 67/77 | €9,215 | €5,009 | -€4,207 | -45.6% |
| Profit (loss) for the period | 9904 | €21,937 | €13,126 | -€8,811 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,937 | €13,126 | -€8,811 | -40.2% |
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 4 October 2026 via checked.be.