FERDY HEREN: 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.
FERDY HEREN
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€70,831
up €70,831 (+10,448%), from €678 to €71,509
mainly Current investments (+€100,000) and Depreciation (+€2,401)
- Tangible fixed assets -€2,401
down €2,401 (-25.8%), from €9,303 to €6,901
of which Land and buildings: -€2,065
- Profit (loss) carried forward -€24,298
new in 2025: -€24,298
- Current portion of long-term debt -€9,166
no longer reported in 2025 (was €9,166)
- Other debts +€1,508
up €1,508 (+4.6%), from €32,801 to €34,309
- Gross operating margin +€14,651
up €14,651 (+41.4%), from -€35,359 to -€20,708
- Financial charges -€1,042
down €1,042 (-66.2%), from €1,574 to €532
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 | €112,941 | €80,458 | -€32,483 | -28.8% |
| Fixed assets | 21/28 | €9,303 | €6,901 | -€2,401 | -25.8% |
| Tangible fixed assets | 22/27 | €9,303 | €6,901 | -€2,401 | -25.8% |
| Land and buildings | 22 | €8,661 | €6,595 | -€2,065 | -23.8% |
| Furniture and vehicles | 24 | €642 | €306 | -€336 | -52.3% |
| Current assets | 29/58 | €103,638 | €73,557 | -€30,082 | -29.0% |
| Stocks and contracts in progress | 3 | €1,200 | €1,200 | = | 0.0% |
| Stocks | 30/36 | €1,200 | €1,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €996 | €328 | -€668 | -67.1% |
| Other amounts receivable | 41 | €996 | €328 | -€668 | -67.1% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €678 | €71,509 | +€70,831 | +10,448% |
| Deferred charges and accrued income | 490/1 | €765 | €520 | -€245 | -32.1% |
| Total equity and liabilities | 10/49 | €112,941 | €80,458 | -€32,483 | -28.8% |
| Equity | 10/15 | €70,011 | €45,713 | -€24,298 | -34.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €8,038 | €8,038 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,841 | €1,841 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€24,298 | -€24,298 | |
| Amounts payable | 17/49 | €42,930 | €34,745 | -€8,185 | -19.1% |
| Amounts payable within one year | 42/48 | €42,930 | €34,745 | -€8,185 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €9,166 | - | -€9,166 | |
| Trade debts | 44 | €203 | €68 | -€135 | -66.4% |
| Suppliers | 440/4 | €203 | €68 | -€135 | -66.4% |
| Taxes, remuneration and social security | 45 | €760 | €368 | -€392 | -51.6% |
| Taxes | 450/3 | €760 | €368 | -€392 | -51.6% |
| Other amounts payable | 47/48 | €32,801 | €34,309 | +€1,508 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,401 | €2,401 | = | 0.0% |
| Other operating charges | 640/8 | €1,138 | €1,058 | -€81 | -7.1% |
| Gross operating margin | 9900 | -€35,359 | -€20,708 | +€14,651 | +41.4% |
| Operating profit (loss) | 9901 | -€38,899 | -€24,167 | +€14,732 | +37.9% |
| Financial income | 75/76B | €525 | €668 | +€143 | +27.2% |
| Recurring financial income | 75 | €525 | €668 | +€143 | +27.2% |
| Financial charges | 65/66B | €1,574 | €532 | -€1,042 | -66.2% |
| Recurring financial charges | 65 | €1,574 | €532 | -€1,042 | -66.2% |
| Profit (loss) for the period before taxes | 9903 | -€39,948 | -€24,031 | +€15,917 | +39.8% |
| Income taxes | 67/77 | €458 | €267 | -€191 | -41.7% |
| Profit (loss) for the period | 9904 | -€40,406 | -€24,298 | +€16,108 | +39.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,406 | -€24,298 | +€16,108 | +39.9% |
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 23 October 2026 via checked.be.