FERDI DELEERSNYDER: 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.
FERDI DELEERSNYDER
Largest movements
- Stocks and contracts -€33,609
down €33,609 (-37.2%), from €90,409 to €56,800
- Deferred charges and accrued income +€21,218
up €21,218, from €0 to €21,218
- Cash +€20,835
up €20,835 (+11.3%), from €184,489 to €205,323
mainly Net result for the year (+€57,747) and Stocks and contracts (+€33,609)
- Receivables within one year +€6,015
up €6,015, from €0 to €6,015
- Reserves +€48,890
up €48,890 (+15.6%), from €313,486 to €362,376
of which Distributable reserves: +€48,890
- Tax, wage and social debts -€16,253
down €16,253 (-67.8%), from €23,968 to €7,715
- Advances received -€10,200
down €10,200 (-91.1%), from €11,200 to €1,000
- Debts after one year -€5,395
down €5,395 (-100%), from €5,395 to €0
- Gross operating margin -€7,863
down €7,863 (-6.8%), from €114,880 to €107,017
- Taxes -€4,524
down €4,524 (-13.3%), from €33,967 to €29,443
- Depreciation +€1,849
up €1,849 (+26.0%), from €7,107 to €8,956
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 | €390,013 | €406,228 | +€16,215 | +4.2% |
| Formation expenses | 20 | €8,917 | €8,917 | = | 0.0% |
| Fixed assets | 21/28 | €106,199 | €107,955 | +€1,757 | +1.7% |
| Tangible fixed assets | 22/27 | €106,064 | €107,820 | +€1,757 | +1.7% |
| Land and buildings | 22 | €94,859 | €93,435 | -€1,425 | -1.5% |
| Plant, machinery and equipment | 23 | - | €4,122 | +€4,122 | |
| Furniture and vehicles | 24 | €11,204 | €10,264 | -€940 | -8.4% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €274,898 | €289,356 | +€14,458 | +5.3% |
| Stocks and contracts in progress | 3 | €90,409 | €56,800 | -€33,609 | -37.2% |
| Stocks | 30/36 | €90,409 | €56,800 | -€33,609 | -37.2% |
| Amounts receivable within one year | 40/41 | €0 | €6,015 | +€6,015 | |
| Other amounts receivable | 41 | €0 | €6,015 | +€6,015 | |
| Cash at bank and in hand | 54/58 | €184,489 | €205,323 | +€20,835 | +11.3% |
| Deferred charges and accrued income | 490/1 | €0 | €21,218 | +€21,218 | |
| Total equity and liabilities | 10/49 | €390,013 | €406,228 | +€16,215 | +4.2% |
| Equity | 10/15 | €332,078 | €380,968 | +€48,890 | +14.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €313,486 | €362,376 | +€48,890 | +15.6% |
| Tax-exempt reserves | 132 | €117 | €117 | = | 0.0% |
| Distributable reserves | 133 | €313,370 | €362,260 | +€48,890 | +15.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €57,935 | €25,260 | -€32,675 | -56.4% |
| Amounts payable after more than one year | 17 | €5,395 | €0 | -€5,395 | -100% |
| Financial debts | 170/4 | €5,395 | €0 | -€5,395 | -100% |
| Amounts payable within one year | 42/48 | €52,540 | €25,260 | -€27,280 | -51.9% |
| Current portion of amounts payable after more than one year | 42 | €5,324 | €5,395 | +€71 | +1.3% |
| Trade debts | 44 | €651 | €606 | -€45 | -6.9% |
| Suppliers | 440/4 | €651 | €606 | -€45 | -6.9% |
| Advances received on contracts in progress | 46 | €11,200 | €1,000 | -€10,200 | -91.1% |
| Taxes, remuneration and social security | 45 | €23,968 | €7,715 | -€16,253 | -67.8% |
| Taxes | 450/3 | €23,968 | €7,715 | -€16,253 | -67.8% |
| Other amounts payable | 47/48 | €11,398 | €10,545 | -€853 | -7.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €4,856 | €5,943 | +€1,087 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,107 | €8,956 | +€1,849 | +26.0% |
| Other operating charges | 640/8 | €3,640 | €3,992 | +€352 | +9.7% |
| Gross operating margin | 9900 | €114,880 | €107,017 | -€7,863 | -6.8% |
| Operating profit (loss) | 9901 | €99,276 | €88,126 | -€11,150 | -11.2% |
| Financial income | 75/76B | €0 | €862 | +€862 | |
| Recurring financial income | 75 | €0 | €862 | +€862 | |
| Financial charges | 65/66B | €1,683 | €1,798 | +€115 | +6.8% |
| Recurring financial charges | 65 | €1,683 | €1,798 | +€115 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €97,593 | €87,190 | -€10,403 | -10.7% |
| Income taxes | 67/77 | €33,967 | €29,443 | -€4,524 | -13.3% |
| Profit (loss) for the period | 9904 | €63,626 | €57,747 | -€5,879 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,626 | €57,747 | -€5,879 | -9.2% |
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 1 November 2026 via checked.be.