Fercon: 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.
Fercon
Largest movements
- Current investments +€100,000
up €100,000 (+50.0%), from €200,000 to €300,000
- Receivables within one year -€47,567
down €47,567 (-42.2%), from €112,784 to €65,217
of which Trade receivables: -€48,800
- Cash -€5,240
down €5,240 (-24.1%), from €21,735 to €16,495
mainly Contributions, distributions and other (-€287,738) and Current investments (-€100,000)
- Other debts +€290,641
up €290,641 (+5853.8%), from €4,965 to €295,606
- Profit (loss) carried forward -€250,283
down €250,283 (-87.0%), from €287,738 to €37,455
- Tax, wage and social debts -€18,675
down €18,675 (-41.4%), from €45,089 to €26,415
- Debts after one year +€14,555
up €14,555 (+58.2%), from €25,000 to €39,555
- Trade debts +€5,459
up €5,459 (+757.4%), from €721 to €6,180
- Gross operating margin -€53,095
down €53,095 (-46.2%), from €114,858 to €61,763
- Taxes -€11,737
down €11,737 (-54.1%), from €21,709 to €9,972
- Financial income +€4,019
new in 2025: €4,019
- Depreciation -€1,296
down €1,296 (-7.5%), from €17,202 to €15,905
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 | €370,867 | €413,316 | +€42,450 | +11.4% |
| Fixed assets | 21/28 | €36,158 | €31,350 | -€4,808 | -13.3% |
| Intangible fixed assets | 21 | €2,482 | €482 | -€2,000 | -80.6% |
| Tangible fixed assets | 22/27 | €33,676 | €30,868 | -€2,808 | -8.3% |
| Furniture and vehicles | 24 | €33,676 | €30,868 | -€2,808 | -8.3% |
| Current assets | 29/58 | €334,709 | €381,966 | +€47,258 | +14.1% |
| Amounts receivable within one year | 40/41 | €112,784 | €65,217 | -€47,567 | -42.2% |
| Trade receivables | 40 | €112,774 | €63,974 | -€48,800 | -43.3% |
| Other amounts receivable | 41 | €10 | €1,243 | +€1,233 | +12334.0% |
| Current investments | 50/53 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €21,735 | €16,495 | -€5,240 | -24.1% |
| Deferred charges and accrued income | 490/1 | €190 | €254 | +€64 | +33.6% |
| Total equity and liabilities | 10/49 | €370,867 | €413,316 | +€42,450 | +11.4% |
| Equity | 10/15 | €290,738 | €40,455 | -€250,283 | -86.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €287,738 | €37,455 | -€250,283 | -87.0% |
| Amounts payable | 17/49 | €80,129 | €372,861 | +€292,733 | +365.3% |
| Amounts payable after more than one year | 17 | €25,000 | €39,555 | +€14,555 | +58.2% |
| Financial debts | 170/4 | €25,000 | €39,555 | +€14,555 | +58.2% |
| Amounts payable within one year | 42/48 | €53,969 | €331,989 | +€278,020 | +515.1% |
| Current portion of amounts payable after more than one year | 42 | €3,193 | €3,787 | +€594 | +18.6% |
| Trade debts | 44 | €721 | €6,180 | +€5,459 | +757.4% |
| Suppliers | 440/4 | €721 | €6,180 | +€5,459 | +757.4% |
| Taxes, remuneration and social security | 45 | €45,089 | €26,415 | -€18,675 | -41.4% |
| Taxes | 450/3 | €45,089 | €26,415 | -€18,675 | -41.4% |
| Other amounts payable | 47/48 | €4,965 | €295,606 | +€290,641 | +5853.8% |
| Accrued charges and deferred income | 492/3 | €1,160 | €1,317 | +€157 | +13.6% |
| Non-recurring operating income | 76A | - | €6,499 | +€6,499 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,202 | €15,905 | -€1,296 | -7.5% |
| Other operating charges | 640/8 | €1,040 | €817 | -€224 | -21.5% |
| Gross operating margin | 9900 | €114,858 | €61,763 | -€53,095 | -46.2% |
| Operating profit (loss) | 9901 | €96,616 | €45,041 | -€51,575 | -53.4% |
| Financial income | 75/76B | - | €4,019 | +€4,019 | |
| Recurring financial income | 75 | - | €4,019 | +€4,019 | |
| Financial charges | 65/66B | €1,575 | €1,633 | +€58 | +3.7% |
| Recurring financial charges | 65 | €1,575 | €1,633 | +€58 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €95,041 | €47,427 | -€47,614 | -50.1% |
| Income taxes | 67/77 | €21,709 | €9,972 | -€11,737 | -54.1% |
| Profit (loss) for the period | 9904 | €73,332 | €37,455 | -€35,877 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,332 | €37,455 | -€35,877 | -48.9% |
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 2 October 2026 via checked.be.