FERDECO: 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.
FERDECO
Largest movements
- Cash +€14,543
up €14,543 (+46.8%), from €31,043 to €45,586
mainly Net result for the year (+€27,606) and Depreciation (+€11,840)
- Tangible fixed assets -€10,606
down €10,606 (-27.1%), from €39,209 to €28,603
of which Furniture and vehicles: -€6,820
- Receivables within one year -€2,358
down €2,358 (-4.2%), from €55,751 to €53,393
of which Other amounts receivable: -€4,816
- Profit (loss) carried forward +€27,606
up €27,606, from -€25,881 to €1,725
- Trade debts -€14,223
down €14,223 (-17.4%), from €81,891 to €67,669
- Debts after one year -€8,445
down €8,445 (-25.3%), from €33,411 to €24,965
- Tax, wage and social debts -€3,669
down €3,669 (-28.8%), from €12,750 to €9,081
of which Remuneration and social security: -€3,426
- Gross operating margin +€27,262
up €27,262 (+28.5%), from €95,754 to €123,015
- Taxes +€2,876
up €2,876 (+1082.9%), from €266 to €3,141
- Staff costs +€2,464
up €2,464 (+3.3%), from €75,561 to €78,025
- Financial charges -€1,972
down €1,972 (-43.9%), from €4,497 to €2,525
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 | €126,203 | €127,804 | +€1,601 | +1.3% |
| Fixed assets | 21/28 | €39,209 | €28,603 | -€10,606 | -27.1% |
| Tangible fixed assets | 22/27 | €39,209 | €28,603 | -€10,606 | -27.1% |
| Plant, machinery and equipment | 23 | €14,011 | €10,225 | -€3,786 | -27.0% |
| Furniture and vehicles | 24 | €25,198 | €18,378 | -€6,820 | -27.1% |
| Current assets | 29/58 | €86,995 | €99,201 | +€12,207 | +14.0% |
| Amounts receivable within one year | 40/41 | €55,751 | €53,393 | -€2,358 | -4.2% |
| Trade receivables | 40 | €25,784 | €28,242 | +€2,458 | +9.5% |
| Other amounts receivable | 41 | €29,967 | €25,151 | -€4,816 | -16.1% |
| Cash at bank and in hand | 54/58 | €31,043 | €45,586 | +€14,543 | +46.8% |
| Deferred charges and accrued income | 490/1 | €200 | €222 | +€22 | +10.8% |
| Total equity and liabilities | 10/49 | €126,203 | €127,804 | +€1,601 | +1.3% |
| Equity | 10/15 | -€10,881 | €16,725 | +€27,606 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,881 | €1,725 | +€27,606 | |
| Amounts payable | 17/49 | €137,085 | €111,079 | -€26,006 | -19.0% |
| Amounts payable after more than one year | 17 | €33,411 | €24,965 | -€8,445 | -25.3% |
| Financial debts | 170/4 | €33,411 | €24,965 | -€8,445 | -25.3% |
| Amounts payable within one year | 42/48 | €102,562 | €85,195 | -€17,367 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €7,921 | €8,445 | +€524 | +6.6% |
| Trade debts | 44 | €81,891 | €67,669 | -€14,223 | -17.4% |
| Suppliers | 440/4 | €81,891 | €67,669 | -€14,223 | -17.4% |
| Taxes, remuneration and social security | 45 | €12,750 | €9,081 | -€3,669 | -28.8% |
| Taxes | 450/3 | €474 | €231 | -€243 | -51.3% |
| Remuneration and social security | 454/9 | €12,276 | €8,850 | -€3,426 | -27.9% |
| Accrued charges and deferred income | 492/3 | €1,112 | €919 | -€193 | -17.4% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €75,561 | €78,025 | +€2,464 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,082 | €11,840 | +€759 | +6.8% |
| Other operating charges | 640/8 | €1,173 | €1,193 | +€20 | +1.7% |
| Gross operating margin | 9900 | €95,754 | €123,015 | +€27,262 | +28.5% |
| Operating profit (loss) | 9901 | €7,938 | €31,957 | +€24,019 | +302.6% |
| Financial income | 75/76B | €791 | €1,315 | +€524 | +66.3% |
| Recurring financial income | 75 | €791 | €1,315 | +€524 | +66.3% |
| Financial charges | 65/66B | €4,497 | €2,525 | -€1,972 | -43.9% |
| Recurring financial charges | 65 | €4,497 | €2,525 | -€1,972 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | €4,232 | €30,748 | +€26,516 | +626.6% |
| Income taxes | 67/77 | €266 | €3,141 | +€2,876 | +1082.9% |
| Profit (loss) for the period | 9904 | €3,966 | €27,606 | +€23,640 | +596.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,966 | €27,606 | +€23,640 | +596.0% |
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 30 September 2026 via checked.be.