Feralu: 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.
What changed
Feralu
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€55,576
2024 · -€111,018+€166,594
Equity
€224,496
2024 · €171,281+€53,215
Cash
€148,531
2024 · €103,960+€44,570
Balance sheet total
€2.6m
2024 · €2.3m+€312,138
Largest movements
Assets
- Receivables within one year +€151,361
up €151,361 (+20.7%), from €729,734 to €881,094
of which Trade receivables: +€158,263
- Tangible fixed assets +€76,435
up €76,435 (+7.2%), from €1.1m to €1.1m
of which Leasing and similar rights: +€72,107
- Stocks and contracts +€49,332
up €49,332 (+15.2%), from €324,737 to €374,068
- Cash +€44,570
up €44,570 (+42.9%), from €103,960 to €148,531
mainly Trade debts (+€216,043) and Depreciation (+€100,488)
Equity and liabilities
- Trade debts +€216,043
up €216,043 (+68.0%), from €317,849 to €533,892
- Profit (loss) carried forward +€67,944
up €67,944, from -€23,010 to €44,933
- Advances received +€53,718
up €53,718 (+23.7%), from €226,637 to €280,355
- Other debts -€37,210
down €37,210 (-92.8%), from €40,108 to €2,898
Income statement
- Gross operating margin +€143,818
up €143,818 (+15.8%), from €909,408 to €1.1m
- Depreciation -€29,250
down €29,250 (-22.5%), from €129,737 to €100,488
- Staff costs +€19,676
up €19,676 (+2.4%), from €820,959 to €840,635
- Financial charges -€17,420
down €17,420 (-28.1%), from €61,948 to €44,529
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.
Result 2024
-€111,018
Gross operating margin
+€143,818
Staff costs
-€19,676
Depreciation
+€29,250
Other operating charges
-€7,717
Financial income
+€3,495
Financial charges
+€17,420
Taxes
+€4
Result 2025
€55,576
raises the resultlowers the result
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.
From operations
+€205,287
Investment
-€169,016
Financing
+€8,300
Cash 2024
€103,960
From operations (derived)
+€205,287
Net result for the year
+€55,576
Depreciation
+€100,488
Stocks and contracts
-€49,332
Receivables within one year
-€151,361
Deferred charges and accrued income
+€1,652
Provisions
-€6,369
Trade debts
+€216,043
Tax, wage and social debts
+€20,683
Advances received
+€53,718
Other debts
-€37,210
Accrued charges and deferred income
+€1,398
Investment (derived)
-€169,016
Investment in fixed assets (net)
-€169,016
Financing
+€8,300
Debts after one year
+€2,823
Current portion of long-term debt
+€7,837
Contributions, distributions and other
-€2,361
Cash 2025
€148,531
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,252,922 | €2,565,060 | +€312,138 | +13.9% |
| Fixed assets | 21/28 | €1,089,340 | €1,157,868 | +€68,528 | +6.3% |
| Intangible fixed assets | 21 | €22,142 | €14,237 | -€7,906 | -35.7% |
| Tangible fixed assets | 22/27 | €1,067,068 | €1,143,503 | +€76,435 | +7.2% |
| Land and buildings | 22 | €955,237 | €980,471 | +€25,234 | +2.6% |
| Plant, machinery and equipment | 23 | €19,344 | €22,684 | +€3,340 | +17.3% |
| Furniture and vehicles | 24 | €71,629 | €47,384 | -€24,246 | -33.8% |
| Leasing and similar rights | 25 | €20,857 | €92,964 | +€72,107 | +346% |
| Financial fixed assets | 28 | €129 | €128 | -€1 | -0.7% |
| Current assets | 29/58 | €1,163,582 | €1,407,192 | +€243,610 | +20.9% |
| Stocks and contracts in progress | 3 | €324,737 | €374,068 | +€49,332 | +15.2% |
| Stocks | 30/36 | €324,737 | €374,068 | +€49,332 | +15.2% |
| Amounts receivable within one year | 40/41 | €729,734 | €881,094 | +€151,361 | +20.7% |
| Trade receivables | 40 | €219,167 | €377,430 | +€158,263 | +72.2% |
| Other amounts receivable | 41 | €510,567 | €503,664 | -€6,903 | -1.4% |
| Cash at bank and in hand | 54/58 | €103,960 | €148,531 | +€44,570 | +42.9% |
| Deferred charges and accrued income | 490/1 | €5,152 | €3,499 | -€1,652 | -32.1% |
| Total equity and liabilities | 10/49 | €2,252,922 | €2,565,060 | +€312,138 | +13.9% |
| Equity | 10/15 | €171,281 | €224,496 | +€53,215 | +31.1% |
| Contributions | 10/11 | €80,592 | €80,592 | = | 0.0% |
| Reserves | 13 | €107,495 | €95,127 | -€12,368 | -11.5% |
| Non-distributable reserves | 130/1 | €23,825 | €23,825 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,059 | €8,059 | = | 0.0% |
| Other | 1319 | €15,766 | €15,766 | = | 0.0% |
| Tax-exempt reserves | 132 | €83,669 | €71,301 | -€12,368 | -14.8% |
| Profit (loss) carried forward | 14 | -€23,010 | €44,933 | +€67,944 | |
| Investment grants | 15 | €6,205 | €3,844 | -€2,361 | -38.0% |
| Provisions and deferred taxes | 16 | €43,082 | €36,713 | -€6,369 | -14.8% |
| Deferred taxes | 168 | €43,082 | €36,713 | -€6,369 | -14.8% |
| Amounts payable | 17/49 | €2,038,558 | €2,303,851 | +€265,293 | +13.0% |
| Amounts payable after more than one year | 17 | €741,905 | €744,728 | +€2,823 | +0.4% |
| Financial debts | 170/4 | €741,905 | €744,728 | +€2,823 | +0.4% |
| Amounts payable within one year | 42/48 | €1,295,951 | €1,557,023 | +€261,072 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €95,763 | €103,600 | +€7,837 | +8.2% |
| Financial debts | 43 | €550,000 | €550,000 | = | 0.0% |
| Credit institutions | 430/8 | €550,000 | €550,000 | = | 0.0% |
| Trade debts | 44 | €317,849 | €533,892 | +€216,043 | +68.0% |
| Suppliers | 440/4 | €317,849 | €533,892 | +€216,043 | +68.0% |
| Advances received on contracts in progress | 46 | €226,637 | €280,355 | +€53,718 | +23.7% |
| Taxes, remuneration and social security | 45 | €65,594 | €86,277 | +€20,683 | +31.5% |
| Taxes | 450/3 | €1,598 | €2,242 | +€644 | +40.3% |
| Remuneration and social security | 454/9 | €63,996 | €84,035 | +€20,039 | +31.3% |
| Other amounts payable | 47/48 | €40,108 | €2,898 | -€37,210 | -92.8% |
| Accrued charges and deferred income | 492/3 | €702 | €2,100 | +€1,398 | +199% |
| Remuneration, social security and pensions | 62 | €820,959 | €840,635 | +€19,676 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,737 | €100,488 | -€29,250 | -22.5% |
| Other operating charges | 640/8 | €14,414 | €22,131 | +€7,717 | +53.5% |
| Gross operating margin | 9900 | €909,408 | €1,053,227 | +€143,818 | +15.8% |
| Operating profit (loss) | 9901 | -€55,702 | €89,974 | +€145,675 | |
| Financial income | 75/76B | €267 | €3,761 | +€3,495 | +1,310% |
| Recurring financial income | 75 | €267 | €3,761 | +€3,495 | +1,310% |
| Financial charges | 65/66B | €61,948 | €44,529 | -€17,420 | -28.1% |
| Recurring financial charges | 65 | €61,948 | €44,529 | -€17,420 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€117,383 | €49,206 | +€166,589 | |
| Transfer from deferred taxes | 780 | €6,369 | €6,369 | = | 0.0% |
| Income taxes | 67/77 | €4 | - | -€4 | |
| Profit (loss) for the period | 9904 | -€111,018 | €55,576 | +€166,594 | |
| Transfer from tax-exempt reserves | 789 | €12,368 | €12,368 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€98,650 | €67,944 | +€166,594 |
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 23 October 2026 via checked.be.