FERAY: 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.
FERAY
Largest movements
- Cash -€36,651
down €36,651 (-26.8%), from €136,716 to €100,065
mainly Trade debts (-€45,335) and Tax, wage and social debts (-€34,776)
- Receivables within one year -€29,760
down €29,760 (-84.7%), from €35,129 to €5,369
of which Trade receivables: -€25,258
- Deferred charges and accrued income -€3,669
no longer reported in 2025 (was €3,669)
- Tangible fixed assets +€3,499
up €3,499 (+20.6%), from €16,969 to €20,467
of which Plant, machinery and equipment: +€6,368
- Trade debts -€45,335
down €45,335 (-56.0%), from €80,945 to €35,609
- Tax, wage and social debts -€34,776
no longer reported in 2025 (was €34,776)
of which Remuneration and social security: -€19,020
- Profit (loss) carried forward +€21,455
up €21,455 (+46.3%), from €46,366 to €67,821
- Current portion of long-term debt -€7,426
no longer reported in 2025 (was €7,426)
- Turnover +€519,940
new in 2025: €519,940
- Purchases and services +€372,263
new in 2025: €372,263
- Gross operating margin +€43,636
up €43,636 (+41.9%), from €104,042 to €147,677
- Other operating charges +€11,782
up €11,782 (+1,248%), from €944 to €12,726
- Staff costs +€8,608
up €8,608 (+9.1%), from €95,003 to €103,610
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 | €198,946 | €132,113 | -€66,832 | -33.6% |
| Fixed assets | 21/28 | €21,706 | €25,205 | +€3,499 | +16.1% |
| Tangible fixed assets | 22/27 | €16,969 | €20,467 | +€3,499 | +20.6% |
| Plant, machinery and equipment | 23 | €3,695 | €10,063 | +€6,368 | +172% |
| Furniture and vehicles | 24 | €10,123 | €7,884 | -€2,239 | -22.1% |
| Other tangible fixed assets | 26 | €3,151 | €2,520 | -€630 | -20.0% |
| Financial fixed assets | 28 | €4,738 | €4,738 | = | 0.0% |
| Current assets | 29/58 | €177,239 | €106,908 | -€70,331 | -39.7% |
| Stocks and contracts in progress | 3 | €1,725 | €1,474 | -€251 | -14.5% |
| Stocks | 30/36 | €1,725 | €1,474 | -€251 | -14.5% |
| Amounts receivable within one year | 40/41 | €35,129 | €5,369 | -€29,760 | -84.7% |
| Trade receivables | 40 | €25,258 | - | -€25,258 | |
| Other amounts receivable | 41 | €9,870 | €5,369 | -€4,502 | -45.6% |
| Cash at bank and in hand | 54/58 | €136,716 | €100,065 | -€36,651 | -26.8% |
| Deferred charges and accrued income | 490/1 | €3,669 | - | -€3,669 | |
| Total equity and liabilities | 10/49 | €198,946 | €132,113 | -€66,832 | -33.6% |
| Equity | 10/15 | €74,358 | €95,813 | +€21,455 | +28.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €9,443 | €9,443 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €7,588 | €7,588 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,366 | €67,821 | +€21,455 | +46.3% |
| Amounts payable | 17/49 | €124,587 | €36,300 | -€88,287 | -70.9% |
| Amounts payable within one year | 42/48 | €124,587 | €36,300 | -€88,287 | -70.9% |
| Current portion of amounts payable after more than one year | 42 | €7,426 | - | -€7,426 | |
| Trade debts | 44 | €80,945 | €35,609 | -€45,335 | -56.0% |
| Suppliers | 440/4 | €80,945 | €35,609 | -€45,335 | -56.0% |
| Advances received on contracts in progress | 46 | €750 | - | -€750 | |
| Taxes, remuneration and social security | 45 | €34,776 | - | -€34,776 | |
| Taxes | 450/3 | €15,756 | - | -€15,756 | |
| Remuneration and social security | 454/9 | €19,020 | - | -€19,020 | |
| Other amounts payable | 47/48 | €690 | €690 | = | 0.0% |
| Turnover | 70 | - | €519,940 | +€519,940 | |
| Non-recurring operating income | 76A | €1,700 | - | -€1,700 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €372,263 | +€372,263 | |
| Remuneration, social security and pensions | 62 | €95,003 | €103,610 | +€8,608 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,469 | €3,937 | +€468 | +13.5% |
| Other operating charges | 640/8 | €944 | €12,726 | +€11,782 | +1,248% |
| Non-recurring operating charges | 66A | - | €2,134 | +€2,134 | |
| Gross operating margin | 9900 | €104,042 | €147,677 | +€43,636 | +41.9% |
| Operating profit (loss) | 9901 | €4,625 | €25,269 | +€20,644 | +446% |
| Financial income | 75/76B | €779 | €97 | -€682 | -87.6% |
| Recurring financial income | 75 | €779 | €97 | -€682 | -87.6% |
| Financial charges | 65/66B | €1,160 | €406 | -€753 | -65.0% |
| Recurring financial charges | 65 | €1,160 | €406 | -€753 | -65.0% |
| Profit (loss) for the period before taxes | 9903 | €4,245 | €24,960 | +€20,715 | +488% |
| Income taxes | 67/77 | €938 | €3,505 | +€2,567 | +274% |
| Profit (loss) for the period | 9904 | €3,306 | €21,455 | +€18,149 | +549% |
| Profit (loss) for the period to be appropriated | 9905 | €3,306 | €21,455 | +€18,149 | +549% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.