FERDINANDE JO: 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.
FERDINANDE JO
Largest movements
- Receivables within one year +€90,032
up €90,032 (+651%), from €13,820 to €103,852
of which Trade receivables: +€94,566
- Tangible fixed assets -€19,688
down €19,688 (-31.5%), from €62,483 to €42,796
of which Furniture and vehicles: -€14,228
- Cash -€6,524
down €6,524 (-48.1%), from €13,577 to €7,052
mainly Contributions, distributions and other (-€120,000) and Receivables within one year (-€90,032)
- Trade debts +€75,835
up €75,835 (+4,576%), from €1,657 to €77,492
- Reserves -€20,265
down €20,265 (-23.8%), from €85,101 to €64,836
- Tax, wage and social debts +€8,890
up €8,890 (+137%), from €6,480 to €15,370
- Gross operating margin +€43,181
up €43,181 (+38.1%), from €113,437 to €156,618
- Taxes +€6,880
up €6,880 (+26.1%), from €26,322 to €33,202
- Financial charges -€2,711
down €2,711 (-89.8%), from €3,018 to €307
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 | €93,338 | €158,545 | +€65,207 | +69.9% |
| Fixed assets | 21/28 | €62,483 | €42,796 | -€19,688 | -31.5% |
| Tangible fixed assets | 22/27 | €62,483 | €42,796 | -€19,688 | -31.5% |
| Plant, machinery and equipment | 23 | €10,366 | €4,906 | -€5,460 | -52.7% |
| Furniture and vehicles | 24 | €52,117 | €37,889 | -€14,228 | -27.3% |
| Current assets | 29/58 | €30,855 | €115,750 | +€84,895 | +275% |
| Amounts receivable within one year | 40/41 | €13,820 | €103,852 | +€90,032 | +651% |
| Trade receivables | 40 | €1,661 | €96,227 | +€94,566 | +5,694% |
| Other amounts receivable | 41 | €12,159 | €7,625 | -€4,534 | -37.3% |
| Cash at bank and in hand | 54/58 | €13,577 | €7,052 | -€6,524 | -48.1% |
| Deferred charges and accrued income | 490/1 | €3,458 | €4,845 | +€1,387 | +40.1% |
| Total equity and liabilities | 10/49 | €93,338 | €158,545 | +€65,207 | +69.9% |
| Equity | 10/15 | €85,201 | €64,936 | -€20,265 | -23.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €85,101 | €64,836 | -€20,265 | -23.8% |
| Distributable reserves | 133 | €85,101 | €64,836 | -€20,265 | -23.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €8,137 | €93,609 | +€85,472 | +1,050% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €8,137 | €93,609 | +€85,472 | +1,050% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,657 | €77,492 | +€75,835 | +4,576% |
| Suppliers | 440/4 | €1,657 | €77,492 | +€75,835 | +4,576% |
| Taxes, remuneration and social security | 45 | €6,480 | €15,370 | +€8,890 | +137% |
| Taxes | 450/3 | €6,480 | €15,370 | +€8,890 | +137% |
| Other amounts payable | 47/48 | €0 | €747 | +€747 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,840 | €19,688 | -€153 | -0.8% |
| Other operating charges | 640/8 | €3,549 | €3,686 | +€138 | +3.9% |
| Gross operating margin | 9900 | €113,437 | €156,618 | +€43,181 | +38.1% |
| Operating profit (loss) | 9901 | €90,048 | €133,244 | +€43,196 | +48.0% |
| Financial charges | 65/66B | €3,018 | €307 | -€2,711 | -89.8% |
| Recurring financial charges | 65 | €3,018 | €307 | -€2,711 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €87,030 | €132,937 | +€45,907 | +52.7% |
| Income taxes | 67/77 | €26,322 | €33,202 | +€6,880 | +26.1% |
| Profit (loss) for the period | 9904 | €60,709 | €99,735 | +€39,027 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,709 | €99,735 | +€39,027 | +64.3% |
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 28 October 2026 via checked.be.