FERA: 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.
FERA
Largest movements
- Receivables within one year +€327,795
up €327,795 (+77.0%), from €425,523 to €753,318
of which Other amounts receivable: +€303,935
- Tangible fixed assets -€40,383
down €40,383 (-22.8%), from €177,246 to €136,863
of which Land and buildings: -€24,277
- Reserves +€299,500
up €299,500 (+16.7%), from €1.8m to €2.1m
of which Distributable reserves: +€299,500
- Gross operating margin +€175,333
up €175,333 (+27.7%), from €632,506 to €807,839
- Taxes +€51,449
up €51,449 (+102.0%), from €50,449 to €101,898
- Write-downs -€28,438
down €28,438, from €23,102 to -€5,336
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,002,063 | €2,312,440 | +€310,376 | +15.5% |
| Fixed assets | 21/28 | €177,246 | €136,863 | -€40,383 | -22.8% |
| Tangible fixed assets | 22/27 | €177,246 | €136,863 | -€40,383 | -22.8% |
| Land and buildings | 22 | €49,759 | €25,482 | -€24,277 | -48.8% |
| Plant, machinery and equipment | 23 | €114,104 | €105,543 | -€8,561 | -7.5% |
| Furniture and vehicles | 24 | €6,444 | €884 | -€5,560 | -86.3% |
| Other tangible fixed assets | 26 | €6,939 | €4,954 | -€1,985 | -28.6% |
| Current assets | 29/58 | €1,824,817 | €2,175,577 | +€350,760 | +19.2% |
| Stocks and contracts in progress | 3 | €1,399,125 | €1,422,090 | +€22,965 | +1.6% |
| Stocks | 30/36 | €1,399,125 | €1,422,090 | +€22,965 | +1.6% |
| Amounts receivable within one year | 40/41 | €425,523 | €753,318 | +€327,795 | +77.0% |
| Trade receivables | 40 | €40,162 | €64,021 | +€23,859 | +59.4% |
| Other amounts receivable | 41 | €385,361 | €689,296 | +€303,935 | +78.9% |
| Deferred charges and accrued income | 490/1 | €169 | €169 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,002,063 | €2,312,440 | +€310,376 | +15.5% |
| Equity | 10/15 | €1,854,223 | €2,153,496 | +€299,273 | +16.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €1,788,950 | €2,088,450 | +€299,500 | +16.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,770,200 | €2,069,700 | +€299,500 | +16.9% |
| Profit (loss) carried forward | 14 | €273 | €46 | -€227 | -83.2% |
| Amounts payable | 17/49 | €147,840 | €158,944 | +€11,103 | +7.5% |
| Amounts payable within one year | 42/48 | €147,531 | €158,944 | +€11,412 | +7.7% |
| Trade debts | 44 | €17,614 | €31,493 | +€13,879 | +78.8% |
| Suppliers | 440/4 | €17,614 | €31,493 | +€13,879 | +78.8% |
| Taxes, remuneration and social security | 45 | €76,794 | €74,404 | -€2,390 | -3.1% |
| Taxes | 450/3 | €36,035 | €30,002 | -€6,033 | -16.7% |
| Remuneration and social security | 454/9 | €40,758 | €44,401 | +€3,643 | +8.9% |
| Other amounts payable | 47/48 | €53,124 | €53,047 | -€77 | -0.1% |
| Accrued charges and deferred income | 492/3 | €309 | €0 | -€309 | -100.0% |
| Remuneration, social security and pensions | 62 | €289,310 | €294,147 | +€4,837 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,396 | €74,170 | -€4,226 | -5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,102 | -€5,336 | -€28,438 | |
| Other operating charges | 640/8 | €44,895 | €49,288 | +€4,393 | +9.8% |
| Gross operating margin | 9900 | €632,506 | €807,839 | +€175,333 | +27.7% |
| Operating profit (loss) | 9901 | €196,803 | €395,569 | +€198,767 | +101.0% |
| Financial income | 75/76B | €2,708 | €5,819 | +€3,111 | +114.9% |
| Recurring financial income | 75 | €2,708 | €5,819 | +€3,111 | +114.9% |
| Financial charges | 65/66B | €243 | €218 | -€26 | -10.6% |
| Recurring financial charges | 65 | €243 | €218 | -€26 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €199,268 | €401,171 | +€201,903 | +101.3% |
| Income taxes | 67/77 | €50,449 | €101,898 | +€51,449 | +102.0% |
| Profit (loss) for the period | 9904 | €148,819 | €299,273 | +€150,454 | +101.1% |
| Profit (loss) for the period to be appropriated | 9905 | €148,819 | €299,273 | +€150,454 | +101.1% |
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 10 October 2026 via checked.be.