FERGO: what changed
Two fiscal 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.
FERGO
Largest movements
- Tangible fixed assets -€97,490
down €97,490 (-17.8%), from €548,359 to €450,869
- Profit (loss) carried forward -€89,817
down €89,817 (-9.1%), from -€991,844 to -€1.1m
- Debts after one year -€23,327
down €23,327 (-85.3%), from €27,334 to €4,007
- Other debts +€6,684
up €6,684 (+2.5%), from €265,787 to €272,472
- Gross operating margin -€12,825
down €12,825 (-47.0%), from €27,314 to €14,490
- Depreciation -€8,358
down €8,358 (-7.6%), from €109,484 to €101,126
- Financial charges -€1,139
down €1,139 (-30.1%), from €3,782 to €2,643
- Financial income -€679
down €679 (-36.6%), from €1,855 to €1,175
of which Non-recurring financial income: -€695
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.
Cash bridge derived
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 | €574,618 | €472,027 | -€102,591 | -17.9% |
| Fixed assets | 21/28 | €548,359 | €450,869 | -€97,490 | -17.8% |
| Tangible fixed assets | 22/27 | €548,359 | €450,869 | -€97,490 | -17.8% |
| Land and buildings | 22 | €548,359 | €450,869 | -€97,490 | -17.8% |
| Current assets | 29/58 | €26,259 | €21,158 | -€5,101 | -19.4% |
| Amounts receivable within one year | 40/41 | €31 | €36 | +€5 | +14.7% |
| Other amounts receivable | 41 | €31 | €36 | +€5 | +14.7% |
| Cash at bank and in hand | 54/58 | €25,970 | €20,839 | -€5,130 | -19.8% |
| Deferred charges and accrued income | 490/1 | €258 | €282 | +€24 | +9.3% |
| Total equity and liabilities | 10/49 | €574,618 | €472,027 | -€102,591 | -17.9% |
| Equity | 10/15 | €258,156 | €168,339 | -€89,817 | -34.8% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€991,844 | -€1,081,661 | -€89,817 | -9.1% |
| Amounts payable | 17/49 | €316,461 | €303,688 | -€12,774 | -4.0% |
| Amounts payable after more than one year | 17 | €27,334 | €4,007 | -€23,327 | -85.3% |
| Financial debts | 170/4 | €27,334 | €4,007 | -€23,327 | -85.3% |
| Amounts payable within one year | 42/48 | €288,252 | €298,805 | +€10,553 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €22,143 | €23,327 | +€1,184 | +5.3% |
| Trade debts | 44 | €162 | €2,444 | +€2,282 | +1408.2% |
| Suppliers | 440/4 | €162 | €2,444 | +€2,282 | +1408.2% |
| Taxes, remuneration and social security | 45 | €160 | €563 | +€403 | +251.2% |
| Taxes | 450/3 | €160 | €563 | +€403 | +251.2% |
| Other amounts payable | 47/48 | €265,787 | €272,472 | +€6,684 | +2.5% |
| Accrued charges and deferred income | 492/3 | €875 | €875 | = | 0.0% |
| Non-recurring operating income | 76A | €32,000 | €0 | -€32,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,484 | €101,126 | -€8,358 | -7.6% |
| Other operating charges | 640/8 | €1,822 | €1,713 | -€108 | -5.9% |
| Gross operating margin | 9900 | €27,314 | €14,490 | -€12,825 | -47.0% |
| Operating profit (loss) | 9901 | -€83,991 | -€88,349 | -€4,358 | -5.2% |
| Financial income | 75/76B | €1,855 | €1,175 | -€679 | -36.6% |
| Recurring financial income | 75 | €105 | €120 | +€15 | +14.7% |
| Non-recurring financial income | 76B | €1,750 | €1,055 | -€695 | -39.7% |
| Financial charges | 65/66B | €3,782 | €2,643 | -€1,139 | -30.1% |
| Recurring financial charges | 65 | €3,782 | €2,643 | -€1,139 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | -€85,918 | -€89,817 | -€3,899 | -4.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€85,918 | -€89,817 | -€3,899 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€85,918 | -€89,817 | -€3,899 | -4.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.