Fergusi: 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.
Fergusi
Largest movements
- Current investments +€32,359
up €32,359 (+36.2%), from €89,494 to €121,853
- Tangible fixed assets -€19,089
down €19,089 (-5.8%), from €327,866 to €308,777
- Receivables within one year -€18,888
down €18,888 (-38.4%), from €49,153 to €30,265
of which Trade receivables: -€26,330
- Cash +€15,636
up €15,636 (+13.2%), from €118,525 to €134,160
mainly Net result for the year (+€35,602) and Depreciation (+€19,089)
- Reserves +€33,742
up €33,742 (+8.2%), from €410,848 to €444,590
of which Distributable reserves: +€35,602
- Debts after one year -€18,253
no longer reported in 2025 (was €18,253)
- Turnover +€123,808
new in 2025: €123,808
- Purchases and services +€88,188
new in 2025: €88,188
- Gross operating margin -€46,131
down €46,131 (-41.7%), from €110,710 to €64,578
- Taxes -€11,470
down €11,470 (-47.5%), from €24,144 to €12,674
- Financial income +€8,035
up €8,035 (+832%), from €966 to €9,002
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 | €587,475 | €597,492 | +€10,018 | +1.7% |
| Fixed assets | 21/28 | €327,866 | €308,777 | -€19,089 | -5.8% |
| Tangible fixed assets | 22/27 | €327,866 | €308,777 | -€19,089 | -5.8% |
| Land and buildings | 22 | €327,866 | €308,777 | -€19,089 | -5.8% |
| Current assets | 29/58 | €259,609 | €288,715 | +€29,107 | +11.2% |
| Amounts receivable within one year | 40/41 | €49,153 | €30,265 | -€18,888 | -38.4% |
| Trade receivables | 40 | €29,153 | €2,823 | -€26,330 | -90.3% |
| Other amounts receivable | 41 | €20,000 | €27,442 | +€7,442 | +37.2% |
| Current investments | 50/53 | €89,494 | €121,853 | +€32,359 | +36.2% |
| Cash at bank and in hand | 54/58 | €118,525 | €134,160 | +€15,636 | +13.2% |
| Deferred charges and accrued income | 490/1 | €2,437 | €2,437 | = | 0.0% |
| Total equity and liabilities | 10/49 | €587,475 | €597,492 | +€10,018 | +1.7% |
| Equity | 10/15 | €515,309 | €550,911 | +€35,602 | +6.9% |
| Contributions | 10/11 | €6,200 | €8,060 | +€1,860 | +30.0% |
| Reserves | 13 | €410,848 | €444,590 | +€33,742 | +8.2% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €408,988 | €444,590 | +€35,602 | +8.7% |
| Profit (loss) carried forward | 14 | €98,261 | €98,261 | = | 0.0% |
| Amounts payable | 17/49 | €72,166 | €46,582 | -€25,584 | -35.5% |
| Amounts payable after more than one year | 17 | €18,253 | - | -€18,253 | |
| Financial debts | 170/4 | €18,253 | - | -€18,253 | |
| Amounts payable within one year | 42/48 | €53,913 | €44,003 | -€9,910 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €24,076 | €18,253 | -€5,823 | -24.2% |
| Trade debts | 44 | €7,354 | €1,525 | -€5,830 | -79.3% |
| Suppliers | 440/4 | €7,354 | €1,525 | -€5,830 | -79.3% |
| Taxes, remuneration and social security | 45 | €6,403 | €3,852 | -€2,551 | -39.8% |
| Taxes | 450/3 | €6,403 | €3,852 | -€2,551 | -39.8% |
| Remuneration and social security | 454/9 | - | €0 | +€0 | |
| Other amounts payable | 47/48 | €16,080 | €20,373 | +€4,293 | +26.7% |
| Accrued charges and deferred income | 492/3 | - | €2,579 | +€2,579 | |
| Turnover | 70 | - | €123,808 | +€123,808 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €88,188 | +€88,188 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,089 | €19,089 | = | 0.0% |
| Other operating charges | 640/8 | €4,924 | €5,348 | +€424 | +8.6% |
| Gross operating margin | 9900 | €110,710 | €64,578 | -€46,131 | -41.7% |
| Operating profit (loss) | 9901 | €86,696 | €40,141 | -€46,555 | -53.7% |
| Financial income | 75/76B | €966 | €9,002 | +€8,035 | +832% |
| Recurring financial income | 75 | €966 | €9,002 | +€8,035 | +832% |
| Financial charges | 65/66B | €1,172 | €866 | -€305 | -26.1% |
| Recurring financial charges | 65 | €1,172 | €866 | -€305 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €86,491 | €48,276 | -€38,214 | -44.2% |
| Income taxes | 67/77 | €24,144 | €12,674 | -€11,470 | -47.5% |
| Profit (loss) for the period | 9904 | €62,347 | €35,602 | -€26,745 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,347 | €35,602 | -€26,745 | -42.9% |
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 20 October 2026 via checked.be.