FERLAM: 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.
FERLAM
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Tangible fixed assets -€112,384
down €112,384 (-8.6%), from €1.3m to €1.2m
- Cash -€45,422
down €45,422 (-51.0%), from €89,103 to €43,681
mainly Current investments (-€150,000) and Debts after one year (-€35,453)
- Debts after one year -€35,453
down €35,453 (-48.9%), from €72,492 to €37,039
- Other debts +€27,899
up €27,899 (+4,461%), from €625 to €28,525
- Current portion of long-term debt -€27,053
down €27,053 (-43.3%), from €62,506 to €35,453
- Trade debts +€17,291
new in 2025: €17,291
- Financial income -€2,098
down €2,098 (-57.7%), from €3,633 to €1,535
- Financial charges -€2,048
down €2,048 (-30.0%), from €6,835 to €4,787
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 | €1,400,505 | €1,389,340 | -€11,165 | -0.8% |
| Fixed assets | 21/28 | €1,306,808 | €1,194,424 | -€112,384 | -8.6% |
| Tangible fixed assets | 22/27 | €1,306,808 | €1,194,424 | -€112,384 | -8.6% |
| Land and buildings | 22 | €1,306,808 | €1,194,424 | -€112,384 | -8.6% |
| Current assets | 29/58 | €93,697 | €194,917 | +€101,219 | +108% |
| Amounts receivable within one year | 40/41 | €4,594 | €1,235 | -€3,359 | -73.1% |
| Other amounts receivable | 41 | €4,594 | €1,235 | -€3,359 | -73.1% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €89,103 | €43,681 | -€45,422 | -51.0% |
| Total equity and liabilities | 10/49 | €1,400,505 | €1,389,340 | -€11,165 | -0.8% |
| Equity | 10/15 | €1,258,294 | €1,271,033 | +€12,738 | +1.0% |
| Contributions | 10/11 | €100,466 | €100,466 | = | 0.0% |
| Capital | 10 | €100,466 | €100,466 | = | 0.0% |
| Issued capital | 100 | €100,466 | €100,466 | = | 0.0% |
| Reserves | 13 | €272,678 | €272,678 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,540 | €11,540 | = | 0.0% |
| Legal reserve | 130 | €11,540 | €11,540 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,388 | €1,388 | = | 0.0% |
| Distributable reserves | 133 | €259,749 | €259,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | €885,151 | €897,889 | +€12,738 | +1.4% |
| Amounts payable | 17/49 | €142,211 | €118,308 | -€23,903 | -16.8% |
| Amounts payable after more than one year | 17 | €72,492 | €37,039 | -€35,453 | -48.9% |
| Financial debts | 170/4 | €72,492 | €37,039 | -€35,453 | -48.9% |
| Amounts payable within one year | 42/48 | €69,719 | €81,269 | +€11,550 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €62,506 | €35,453 | -€27,053 | -43.3% |
| Trade debts | 44 | - | €17,291 | +€17,291 | |
| Suppliers | 440/4 | - | €17,291 | +€17,291 | |
| Taxes, remuneration and social security | 45 | €6,587 | - | -€6,587 | |
| Taxes | 450/3 | €6,587 | - | -€6,587 | |
| Other amounts payable | 47/48 | €625 | €28,525 | +€27,899 | +4,461% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,384 | €112,384 | = | 0.0% |
| Other operating charges | 640/8 | €16,082 | €17,291 | +€1,209 | +7.5% |
| Gross operating margin | 9900 | €149,788 | €149,912 | +€124 | +0.1% |
| Operating profit (loss) | 9901 | €21,322 | €20,237 | -€1,085 | -5.1% |
| Financial income | 75/76B | €3,633 | €1,535 | -€2,098 | -57.7% |
| Recurring financial income | 75 | €3,633 | €1,535 | -€2,098 | -57.7% |
| Financial charges | 65/66B | €6,835 | €4,787 | -€2,048 | -30.0% |
| Recurring financial charges | 65 | €6,835 | €4,787 | -€2,048 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €18,120 | €16,986 | -€1,135 | -6.3% |
| Income taxes | 67/77 | €4,542 | €4,247 | -€295 | -6.5% |
| Profit (loss) for the period | 9904 | €13,578 | €12,738 | -€840 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,578 | €12,738 | -€840 | -6.2% |
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 23 October 2026 via checked.be.