FERIM: 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.
FERIM
Largest movements
- Cash +€244,739
up €244,739 (+417.3%), from €58,644 to €303,383
mainly Net result for the year (+€780,634) and Tax, wage and social debts (+€39,895)
- Current investments +€142,039
up €142,039 (+6.8%), from €2.1m to €2.2m
- Reserves +€476,501
up €476,501 (+28.0%), from €1.7m to €2.2m
of which Distributable reserves: +€476,501
- Other debts -€142,387
down €142,387 (-31.9%), from €446,520 to €304,133
- Financial income +€566,461
up €566,461 (+114.9%), from €493,010 to €1.1m
- Financial charges +€75,413
up €75,413, from -€5,073 to €70,341
- Taxes +€43,927
up €43,927 (+128.7%), from €34,137 to €78,063
- Depreciation +€4,436
up €4,436 (+14.4%), from €30,724 to €35,161
- Gross operating margin -€3,674
down €3,674 (-15.1%), from -€24,283 to -€27,957
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 | €8,266,859 | €8,641,363 | +€374,504 | +4.5% |
| Fixed assets | 21/28 | €6,100,592 | €6,087,438 | -€13,154 | -0.2% |
| Tangible fixed assets | 22/27 | €709,805 | €696,651 | -€13,154 | -1.9% |
| Land and buildings | 22 | €709,065 | €696,017 | -€13,047 | -1.8% |
| Furniture and vehicles | 24 | €741 | €633 | -€107 | -14.5% |
| Financial fixed assets | 28 | €5,390,787 | €5,390,787 | = | 0.0% |
| Current assets | 29/58 | €2,166,266 | €2,553,925 | +€387,659 | +17.9% |
| Current investments | 50/53 | €2,101,819 | €2,243,858 | +€142,039 | +6.8% |
| Cash at bank and in hand | 54/58 | €58,644 | €303,383 | +€244,739 | +417.3% |
| Deferred charges and accrued income | 490/1 | €5,803 | €6,684 | +€881 | +15.2% |
| Total equity and liabilities | 10/49 | €8,266,859 | €8,641,363 | +€374,504 | +4.5% |
| Equity | 10/15 | €7,728,983 | €8,205,484 | +€476,501 | +6.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,702,956 | €2,179,457 | +€476,501 | +28.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,696,806 | €2,173,307 | +€476,501 | +28.1% |
| Profit (loss) carried forward | 14 | €5,964,527 | €5,964,527 | = | 0.0% |
| Amounts payable | 17/49 | €537,875 | €435,879 | -€101,997 | -19.0% |
| Amounts payable within one year | 42/48 | €522,067 | €420,586 | -€101,481 | -19.4% |
| Financial debts | 43 | - | €10 | +€10 | |
| Credit institutions | 430/8 | - | €10 | +€10 | |
| Trade debts | 44 | €5,450 | €6,450 | +€1,001 | +18.4% |
| Suppliers | 440/4 | €5,450 | €6,450 | +€1,001 | +18.4% |
| Taxes, remuneration and social security | 45 | €70,098 | €109,992 | +€39,895 | +56.9% |
| Taxes | 450/3 | €70,098 | €109,992 | +€39,895 | +56.9% |
| Other amounts payable | 47/48 | €446,520 | €304,133 | -€142,387 | -31.9% |
| Accrued charges and deferred income | 492/3 | €15,809 | €15,293 | -€516 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,724 | €35,161 | +€4,436 | +14.4% |
| Other operating charges | 640/8 | €67,570 | €67,314 | -€256 | -0.4% |
| Gross operating margin | 9900 | -€24,283 | -€27,957 | -€3,674 | -15.1% |
| Operating profit (loss) | 9901 | -€122,577 | -€130,432 | -€7,855 | -6.4% |
| Financial income | 75/76B | €493,010 | €1,059,470 | +€566,461 | +114.9% |
| Recurring financial income | 75 | €493,010 | €1,059,470 | +€566,461 | +114.9% |
| Financial charges | 65/66B | -€5,073 | €70,341 | +€75,413 | |
| Recurring financial charges | 65 | -€5,073 | €70,341 | +€75,413 | |
| Profit (loss) for the period before taxes | 9903 | €375,505 | €858,697 | +€483,192 | +128.7% |
| Income taxes | 67/77 | €34,137 | €78,063 | +€43,927 | +128.7% |
| Profit (loss) for the period | 9904 | €341,368 | €780,634 | +€439,266 | +128.7% |
| Profit (loss) for the period to be appropriated | 9905 | €341,368 | €780,634 | +€439,266 | +128.7% |
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 29 September 2026 via checked.be.