FEREMANS JOERI: 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.
FEREMANS JOERI
Largest movements
- Tangible fixed assets +€84,262
up €84,262 (+19.1%), from €442,065 to €526,327
of which Plant, machinery and equipment: +€105,137
- Receivables within one year -€42,113
down €42,113 (-81.2%), from €51,871 to €9,758
of which Trade receivables: -€40,493
- Stocks and contracts +€36,984
up €36,984 (+57.3%), from €64,545 to €101,529
- Cash +€32,996
up €32,996 (+15.3%), from €216,107 to €249,103
mainly Net result for the year (+€151,732) and Depreciation (+€84,660)
- Current investments +€28,818
up €28,818 (+4.7%), from €607,236 to €636,054
- Reserves +€151,732
up €151,732 (+15.2%), from €1.0m to €1.2m
- Gross operating margin +€28,616
up €28,616 (+9.6%), from €297,877 to €326,493
- Taxes +€11,248
up €11,248 (+20.1%), from €56,095 to €67,343
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 | €1,381,824 | €1,528,890 | +€147,066 | +10.6% |
| Fixed assets | 21/28 | €442,065 | €526,327 | +€84,262 | +19.1% |
| Tangible fixed assets | 22/27 | €442,065 | €526,327 | +€84,262 | +19.1% |
| Land and buildings | 22 | €354,798 | €328,325 | -€26,473 | -7.5% |
| Plant, machinery and equipment | 23 | €70,830 | €175,967 | +€105,137 | +148% |
| Furniture and vehicles | 24 | €16,437 | €22,035 | +€5,598 | +34.1% |
| Current assets | 29/58 | €939,759 | €1,002,563 | +€62,804 | +6.7% |
| Stocks and contracts in progress | 3 | €64,545 | €101,529 | +€36,984 | +57.3% |
| Stocks | 30/36 | €64,545 | €101,529 | +€36,984 | +57.3% |
| Amounts receivable within one year | 40/41 | €51,871 | €9,758 | -€42,113 | -81.2% |
| Trade receivables | 40 | €48,626 | €8,133 | -€40,493 | -83.3% |
| Other amounts receivable | 41 | €3,245 | €1,625 | -€1,620 | -49.9% |
| Current investments | 50/53 | €607,236 | €636,054 | +€28,818 | +4.7% |
| Cash at bank and in hand | 54/58 | €216,107 | €249,103 | +€32,996 | +15.3% |
| Deferred charges and accrued income | 490/1 | - | €6,119 | +€6,119 | |
| Total equity and liabilities | 10/49 | €1,381,824 | €1,528,890 | +€147,066 | +10.6% |
| Equity | 10/15 | €1,315,903 | €1,467,635 | +€151,732 | +11.5% |
| Contributions | 10/11 | €315,100 | €315,100 | = | 0.0% |
| Reserves | 13 | €1,000,803 | €1,152,535 | +€151,732 | +15.2% |
| Distributable reserves | 133 | €1,000,803 | €1,152,535 | +€151,732 | +15.2% |
| Amounts payable | 17/49 | €65,921 | €61,255 | -€4,666 | -7.1% |
| Amounts payable within one year | 42/48 | €65,921 | €61,255 | -€4,666 | -7.1% |
| Financial debts | 43 | €17,597 | €15,127 | -€2,470 | -14.0% |
| Credit institutions | 430/8 | €17,597 | €15,127 | -€2,470 | -14.0% |
| Trade debts | 44 | €28,381 | €13,847 | -€14,534 | -51.2% |
| Suppliers | 440/4 | €28,381 | €13,847 | -€14,534 | -51.2% |
| Taxes, remuneration and social security | 45 | €18,790 | €21,039 | +€2,249 | +12.0% |
| Taxes | 450/3 | €9,490 | €19,067 | +€9,577 | +101% |
| Remuneration and social security | 454/9 | €9,300 | €1,972 | -€7,328 | -78.8% |
| Other amounts payable | 47/48 | €1,153 | €11,242 | +€10,089 | +875% |
| Remuneration, social security and pensions | 62 | €27,931 | €27,557 | -€374 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,680 | €84,660 | +€980 | +1.2% |
| Other operating charges | 640/8 | €337 | €492 | +€155 | +46.0% |
| Gross operating margin | 9900 | €297,877 | €326,493 | +€28,616 | +9.6% |
| Operating profit (loss) | 9901 | €185,929 | €213,784 | +€27,855 | +15.0% |
| Financial income | 75/76B | €5,389 | €6,879 | +€1,490 | +27.6% |
| Recurring financial income | 75 | €5,389 | €6,879 | +€1,490 | +27.6% |
| Financial charges | 65/66B | €1,013 | €1,588 | +€575 | +56.8% |
| Recurring financial charges | 65 | €1,013 | €1,588 | +€575 | +56.8% |
| Profit (loss) for the period before taxes | 9903 | €190,305 | €219,075 | +€28,770 | +15.1% |
| Income taxes | 67/77 | €56,095 | €67,343 | +€11,248 | +20.1% |
| Profit (loss) for the period | 9904 | €134,210 | €151,732 | +€17,522 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €134,210 | €151,732 | +€17,522 | +13.1% |
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 29 October 2026 via checked.be.