FERKAS: 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.
FERKAS
Largest movements
- Current investments +€148,278
up €148,278 (+68.4%), from €216,819 to €365,097
- Cash -€124,559
down €124,559 (-21.0%), from €592,947 to €468,387
mainly Contributions, distributions and other (-€175,500) and Current investments (-€148,278)
- Receivables within one year -€18,521
down €18,521 (-29.2%), from €63,395 to €44,875
of which Other amounts receivable: -€19,345
- Reserves +€106,540
up €106,540 (+18.0%), from €590,725 to €697,265
- Other debts -€73,489
down €73,489 (-30.6%), from €240,214 to €166,725
- Tax, wage and social debts -€24,114
down €24,114 (-15.2%), from €158,937 to €134,824
- Financial charges -€4,004
down €4,004 (-92.7%), from €4,318 to €314
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 | €1,011,284 | €1,021,326 | +€10,042 | +1.0% |
| Fixed assets | 21/28 | €2,888 | €4,144 | +€1,256 | +43.5% |
| Tangible fixed assets | 22/27 | €2,888 | €4,144 | +€1,256 | +43.5% |
| Furniture and vehicles | 24 | €0 | €1,606 | +€1,606 | |
| Other tangible fixed assets | 26 | €2,888 | €2,538 | -€350 | -12.1% |
| Current assets | 29/58 | €1,008,395 | €1,017,182 | +€8,787 | +0.9% |
| Amounts receivable within one year | 40/41 | €63,395 | €44,875 | -€18,521 | -29.2% |
| Trade receivables | 40 | €34,012 | €34,837 | +€825 | +2.4% |
| Other amounts receivable | 41 | €29,383 | €10,038 | -€19,345 | -65.8% |
| Current investments | 50/53 | €216,819 | €365,097 | +€148,278 | +68.4% |
| Cash at bank and in hand | 54/58 | €592,947 | €468,387 | -€124,559 | -21.0% |
| Deferred charges and accrued income | 490/1 | €135,234 | €138,823 | +€3,588 | +2.7% |
| Total equity and liabilities | 10/49 | €1,011,284 | €1,021,326 | +€10,042 | +1.0% |
| Equity | 10/15 | €611,130 | €717,670 | +€106,540 | +17.4% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €590,725 | €697,265 | +€106,540 | +18.0% |
| Distributable reserves | 133 | €590,725 | €697,265 | +€106,540 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €400,154 | €303,656 | -€96,498 | -24.1% |
| Amounts payable within one year | 42/48 | €400,154 | €303,656 | -€96,498 | -24.1% |
| Trade debts | 44 | €1,002 | €2,107 | +€1,105 | +110% |
| Suppliers | 440/4 | €1,002 | €2,107 | +€1,105 | +110% |
| Taxes, remuneration and social security | 45 | €158,937 | €134,824 | -€24,114 | -15.2% |
| Taxes | 450/3 | €158,937 | €134,824 | -€24,114 | -15.2% |
| Other amounts payable | 47/48 | €240,214 | €166,725 | -€73,489 | -30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,460 | €516 | -€943 | -64.6% |
| Other operating charges | 640/8 | €868 | €756 | -€112 | -12.9% |
| Gross operating margin | 9900 | €392,218 | €393,163 | +€945 | +0.2% |
| Operating profit (loss) | 9901 | €389,891 | €391,891 | +€2,000 | +0.5% |
| Financial income | 75/76B | €23,541 | €25,742 | +€2,201 | +9.3% |
| Recurring financial income | 75 | €23,541 | €25,742 | +€2,201 | +9.3% |
| Financial charges | 65/66B | €4,318 | €314 | -€4,004 | -92.7% |
| Recurring financial charges | 65 | €4,318 | €314 | -€4,004 | -92.7% |
| Profit (loss) for the period before taxes | 9903 | €409,114 | €417,319 | +€8,205 | +2.0% |
| Income taxes | 67/77 | €133,546 | €135,279 | +€1,733 | +1.3% |
| Profit (loss) for the period | 9904 | €275,568 | €282,040 | +€6,472 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €275,568 | €282,040 | +€6,472 | +2.3% |
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 21 October 2026 via checked.be.