Ferdossi: 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.
Ferdossi
Largest movements
- Tangible fixed assets +€517,510
up €517,510 (+241%), from €215,108 to €732,618
of which Land and buildings: +€518,876
- Receivables within one year -€32,547
down €32,547 (-25.0%), from €129,994 to €97,447
of which Other amounts receivable: -€32,547
- Cash +€19,702
up €19,702 (+537%), from €3,667 to €23,369
mainly Debts after one year (+€432,270) and Current portion of long-term debt (+€47,238)
- Debts after one year +€432,270
up €432,270 (+416%), from €103,840 to €536,110
- Current portion of long-term debt +€47,238
up €47,238 (+96.5%), from €48,965 to €96,203
- Profit (loss) carried forward +€37,874
up €37,874 (+73.2%), from -€51,761 to -€13,887
- Other debts -€18,780
down €18,780 (-25.0%), from €75,000 to €56,220
- Gross operating margin +€24,162
up €24,162 (+40.4%), from €59,803 to €83,965
- Depreciation -€14,631
down €14,631 (-37.9%), from €38,598 to €23,967
- Financial charges +€3,384
up €3,384 (+40.1%), from €8,433 to €11,817
- Financial income +€1,606
up €1,606 (+13,229%), from €12 to €1,618
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 | €349,835 | €854,430 | +€504,595 | +144% |
| Fixed assets | 21/28 | €215,108 | €732,618 | +€517,510 | +241% |
| Tangible fixed assets | 22/27 | €215,108 | €732,618 | +€517,510 | +241% |
| Land and buildings | 22 | €209,569 | €728,445 | +€518,876 | +248% |
| Plant, machinery and equipment | 23 | €5,539 | €4,173 | -€1,366 | -24.7% |
| Current assets | 29/58 | €134,727 | €121,812 | -€12,915 | -9.6% |
| Amounts receivable within one year | 40/41 | €129,994 | €97,447 | -€32,547 | -25.0% |
| Trade receivables | 40 | €3,600 | €3,600 | = | 0.0% |
| Other amounts receivable | 41 | €126,394 | €93,847 | -€32,547 | -25.8% |
| Cash at bank and in hand | 54/58 | €3,667 | €23,369 | +€19,702 | +537% |
| Deferred charges and accrued income | 490/1 | €1,066 | €996 | -€70 | -6.5% |
| Total equity and liabilities | 10/49 | €349,835 | €854,430 | +€504,595 | +144% |
| Equity | 10/15 | €121,132 | €159,006 | +€37,874 | +31.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €142,892 | €142,892 | = | 0.0% |
| Distributable reserves | 133 | €142,892 | €142,892 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,761 | -€13,887 | +€37,874 | +73.2% |
| Amounts payable | 17/49 | €228,703 | €695,425 | +€466,721 | +204% |
| Amounts payable after more than one year | 17 | €103,840 | €536,110 | +€432,270 | +416% |
| Financial debts | 170/4 | €103,840 | €536,110 | +€432,270 | +416% |
| Amounts payable within one year | 42/48 | €124,476 | €153,735 | +€29,259 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €48,965 | €96,203 | +€47,238 | +96.5% |
| Trade debts | 44 | €359 | €1,160 | +€801 | +223% |
| Suppliers | 440/4 | €359 | €1,160 | +€801 | +223% |
| Taxes, remuneration and social security | 45 | €152 | €152 | +€0 | 0.0% |
| Taxes | 450/3 | €152 | €152 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €75,000 | €56,220 | -€18,780 | -25.0% |
| Accrued charges and deferred income | 492/3 | €387 | €5,579 | +€5,192 | +1,340% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,598 | €23,967 | -€14,631 | -37.9% |
| Other operating charges | 640/8 | €11,775 | €11,773 | -€1 | 0.0% |
| Gross operating margin | 9900 | €59,803 | €83,965 | +€24,162 | +40.4% |
| Operating profit (loss) | 9901 | €9,431 | €48,225 | +€38,794 | +411% |
| Financial income | 75/76B | €12 | €1,618 | +€1,606 | +13,229% |
| Recurring financial income | 75 | €12 | €1,618 | +€1,606 | +13,229% |
| Financial charges | 65/66B | €8,433 | €11,817 | +€3,384 | +40.1% |
| Recurring financial charges | 65 | €8,433 | €11,817 | +€3,384 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €1,009 | €38,026 | +€37,016 | +3,668% |
| Income taxes | 67/77 | €152 | €152 | +€0 | 0.0% |
| Profit (loss) for the period | 9904 | €857 | €37,874 | +€37,016 | +4,317% |
| Profit (loss) for the period to be appropriated | 9905 | €857 | €37,874 | +€37,016 | +4,317% |
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 31 October 2026 via checked.be.