FERAG Belgium: 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.
FERAG Belgium
Largest movements
- Cash -€845,328
down €845,328 (-75.1%), from €1.1m to €280,026
mainly Receivables within one year (-€457,267) and Trade debts (-€450,552)
- Receivables within one year +€457,267
up €457,267 (+51.2%), from €893,324 to €1.4m
of which Other amounts receivable: +€708,834
- Stocks and contracts +€23,750
up €23,750 (+199%), from €11,947 to €35,698
- Trade debts -€450,552
down €450,552 (-73.2%), from €615,227 to €164,675
- Accrued charges and deferred income +€109,385
up €109,385 (+576%), from €19,000 to €128,385
- Reserves -€34,410
down €34,410 (-7.8%), from €438,846 to €404,437
of which Distributable reserves: -€34,410
- Tax, wage and social debts +€27,671
up €27,671 (+21.4%), from €129,432 to €157,103
of which Taxes: +€26,348
- Turnover -€755,451
down €755,451 (-37.0%), from €2.0m to €1.3m
- Goods and materials -€586,369
down €586,369 (-45.6%), from €1.3m to €699,985
of which Purchases: -€492,916
- Write-downs +€61,063
up €61,063, from -€40,847 to €20,217
- Services and other goods -€60,439
down €60,439 (-27.0%), from €223,475 to €163,036
- Taxes -€37,381
down €37,381 (-97.6%), from €38,304 to €923
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,207,505 | €1,854,599 | -€352,905 | -16.0% |
| Fixed assets | 21/28 | €170,006 | €167,165 | -€2,841 | -1.7% |
| Tangible fixed assets | 22/27 | €170,006 | €167,165 | -€2,841 | -1.7% |
| Land and buildings | 22 | €164,386 | €164,386 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,621 | €2,779 | -€2,841 | -50.6% |
| Current assets | 29/58 | €2,037,498 | €1,687,434 | -€350,064 | -17.2% |
| Stocks and contracts in progress | 3 | €11,947 | €35,698 | +€23,750 | +199% |
| Stocks | 30/36 | €11,947 | €35,698 | +€23,750 | +199% |
| Goods purchased for resale | 34 | €11,947 | €35,698 | +€23,750 | +199% |
| Amounts receivable within one year | 40/41 | €893,324 | €1,350,590 | +€457,267 | +51.2% |
| Trade receivables | 40 | €817,181 | €565,613 | -€251,567 | -30.8% |
| Other amounts receivable | 41 | €76,143 | €784,977 | +€708,834 | +931% |
| Current investments | 50/53 | €25 | €24 | -€1 | -2.0% |
| Other investments | 51/53 | €25 | €24 | -€1 | -2.0% |
| Cash at bank and in hand | 54/58 | €1,125,354 | €280,026 | -€845,328 | -75.1% |
| Deferred charges and accrued income | 490/1 | €6,849 | €21,096 | +€14,248 | +208% |
| Total equity and liabilities | 10/49 | €2,207,505 | €1,854,599 | -€352,905 | -16.0% |
| Equity | 10/15 | €1,438,846 | €1,404,437 | -€34,410 | -2.4% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €438,846 | €404,437 | -€34,410 | -7.8% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,283 | €1,283 | = | 0.0% |
| Distributable reserves | 133 | €337,563 | €303,154 | -€34,410 | -10.2% |
| Amounts payable | 17/49 | €768,659 | €450,163 | -€318,496 | -41.4% |
| Amounts payable after more than one year | 17 | €5,000 | - | -€5,000 | |
| Other amounts payable | 178/9 | €5,000 | - | -€5,000 | |
| Amounts payable within one year | 42/48 | €744,659 | €321,777 | -€422,881 | -56.8% |
| Trade debts | 44 | €615,227 | €164,675 | -€450,552 | -73.2% |
| Suppliers | 440/4 | €615,227 | €164,675 | -€450,552 | -73.2% |
| Taxes, remuneration and social security | 45 | €129,432 | €157,103 | +€27,671 | +21.4% |
| Taxes | 450/3 | €63,682 | €90,030 | +€26,348 | +41.4% |
| Remuneration and social security | 454/9 | €65,750 | €67,073 | +€1,323 | +2.0% |
| Accrued charges and deferred income | 492/3 | €19,000 | €128,385 | +€109,385 | +576% |
| Operating income | 70/76A | €2,105,259 | €1,303,869 | -€801,391 | -38.1% |
| Turnover | 70 | €2,041,335 | €1,285,884 | -€755,451 | -37.0% |
| Other operating income | 74 | €25,209 | €12,985 | -€12,224 | -48.5% |
| Non-recurring operating income | 76A | €38,715 | €5,000 | -€33,715 | -87.1% |
| Operating charges | 60/66A | €1,959,597 | €1,351,362 | -€608,235 | -31.0% |
| Goods for resale, raw materials and consumables | 60 | €1,286,354 | €699,985 | -€586,369 | -45.6% |
| Purchases | 600/8 | €1,236,868 | €743,952 | -€492,916 | -39.9% |
| Change in stocks: decrease (increase) | 609 | €49,486 | -€43,967 | -€93,453 | |
| Services and other goods | 61 | €223,475 | €163,036 | -€60,439 | -27.0% |
| Remuneration, social security and pensions | 62 | €434,343 | €443,222 | +€8,879 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,413 | €2,841 | -€7,571 | -72.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€40,847 | €20,217 | +€61,063 | |
| Other operating charges | 640/8 | €45,858 | €22,061 | -€23,798 | -51.9% |
| Operating profit (loss) | 9901 | €145,663 | -€47,493 | -€193,156 | |
| Financial income | 75/76B | €10,665 | €27,884 | +€17,219 | +161% |
| Recurring financial income | 75 | €10,665 | €27,884 | +€17,219 | +161% |
| Income from current assets | 751 | €520 | €19,822 | +€19,302 | +3,712% |
| Other financial income | 752/9 | €10,145 | €8,062 | -€2,083 | -20.5% |
| Financial charges | 65/66B | €19,818 | €13,877 | -€5,941 | -30.0% |
| Recurring financial charges | 65 | €19,818 | €13,877 | -€5,941 | -30.0% |
| Debt charges | 650 | €3,114 | €3,310 | +€196 | +6.3% |
| Other financial charges | 652/9 | €16,704 | €10,567 | -€6,137 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €136,510 | -€33,487 | -€169,996 | |
| Income taxes | 67/77 | €38,304 | €923 | -€37,381 | -97.6% |
| Taxes | 670/3 | €38,304 | €923 | -€37,381 | -97.6% |
| Profit (loss) for the period | 9904 | €98,206 | -€34,410 | -€132,615 | |
| Profit (loss) for the period to be appropriated | 9905 | €98,206 | -€34,410 | -€132,615 |
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 31 October 2026 via checked.be.