Ferm: 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.
What changed
Ferm
NACE 94.992, Activities of membership organisations
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€348,517
2024 · -€184,774-€163,743
Equity
€6.5m
2024 · €6.9m-€348,517
Cash
€97,859
2024 · €64,825+€33,034
Balance sheet total
€14.9m
2024 · €15.6m-€732,336
Largest movements
Assets
- Receivables within one year -€476,086
down €476,086 (-16.0%), from €3.0m to €2.5m
of which Trade receivables: -€361,372
- Intangible fixed assets -€358,797
down €358,797 (-10.3%), from €3.5m to €3.1m
Equity and liabilities
- Debts after one year -€395,382
down €395,382 (-34.2%), from €1.2m to €759,514
- Profit (loss) carried forward -€348,517
down €348,517 (-6.2%), from €5.6m to €5.2m
Income statement
- Financial income -€390,296
down €390,296 (-78.1%), from €499,666 to €109,370
- Services and other goods -€228,658
down €228,658 (-6.7%), from €3.4m to €3.2m
- Depreciation +€108,764
up €108,764 (+11.5%), from €947,955 to €1.1m
- Other operating income +€82,542
up €82,542 (+97.3%), from €84,850 to €167,392
- Turnover -€34,820
down €34,820 (-6.0%), from €584,096 to €549,276
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.
Result 2024
-€184,774
Turnover
-€34,820
Other operating income
+€82,542
Goods and materials
+€26,636
Services and other goods
+€228,658
Staff costs
-€2,805
Depreciation
-€108,764
Other operating charges
+€8,448
Other operating items
+€27,999
Financial income
-€390,296
Financial charges
-€1,341
Result 2025
-€348,517
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.
From operations
+€1.2m
Investment
-€786,258
Financing
-€395,382
Cash 2024
€64,825
From operations (derived)
+€1.2m
Net result for the year
-€348,517
Depreciation
+€1.1m
Smaller working-capital items
+€522
Stocks and contracts
+€18,301
Receivables within one year
+€476,086
Debts within one year
-€54,526
Accrued charges and deferred income
+€66,089
Investment (derived)
-€786,258
Investment in fixed assets (net)
-€691,071
Current investments
-€95,187
Financing
-€395,382
Debts after one year
-€395,382
Cash 2025
€97,859
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,627,106 | €14,894,770 | -€732,336 | -4.7% |
| Fixed assets | 21/28 | €3,770,265 | €3,404,617 | -€365,648 | -9.7% |
| Intangible fixed assets | 21 | €3,480,711 | €3,121,914 | -€358,797 | -10.3% |
| Tangible fixed assets | 22/27 | €32,130 | €27,978 | -€4,152 | -12.9% |
| Plant, machinery and equipment | 23 | €27,266 | €25,834 | -€1,432 | -5.3% |
| Furniture and vehicles | 24 | €4,864 | €2,144 | -€2,720 | -55.9% |
| Financial fixed assets | 28 | €257,424 | €254,725 | -€2,699 | -1.0% |
| Affiliated companies | 280/1 | €160,250 | €160,250 | = | 0.0% |
| Participating interests | 280 | €250 | €250 | = | 0.0% |
| Amounts receivable | 281 | €160,000 | €160,000 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €500 | €500 | = | 0.0% |
| Participating interests | 282 | €500 | €500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €96,674 | €93,975 | -€2,699 | -2.8% |
| Amounts receivable and cash guarantees | 285/8 | €96,674 | €93,975 | -€2,699 | -2.8% |
| Current assets | 29/58 | €11,856,841 | €11,490,153 | -€366,688 | -3.1% |
| Amounts receivable after more than one year | 29 | €1,098,032 | €1,097,731 | -€301 | 0.0% |
| Other amounts receivable | 291 | €1,098,032 | €1,097,731 | -€301 | 0.0% |
| Stocks and contracts in progress | 3 | €166,949 | €148,648 | -€18,301 | -11.0% |
| Stocks | 30/36 | €166,949 | €148,648 | -€18,301 | -11.0% |
| Goods purchased for resale | 34 | €164,844 | €148,648 | -€16,196 | -9.8% |
| Advance payments | 36 | €2,105 | - | -€2,105 | |
| Amounts receivable within one year | 40/41 | €2,983,268 | €2,507,182 | -€476,086 | -16.0% |
| Trade receivables | 40 | €2,014,084 | €1,652,712 | -€361,372 | -17.9% |
| Other amounts receivable | 41 | €969,184 | €854,470 | -€114,714 | -11.8% |
| Current investments | 50/53 | €7,534,367 | €7,629,554 | +€95,187 | +1.3% |
| Cash at bank and in hand | 54/58 | €64,825 | €97,859 | +€33,034 | +51.0% |
| Deferred charges and accrued income | 490/1 | €9,400 | €9,179 | -€221 | -2.4% |
| Total equity and liabilities | 10/49 | €15,627,106 | €14,894,770 | -€732,336 | -4.7% |
| Equity | 10/15 | €6,884,155 | €6,535,638 | -€348,517 | -5.1% |
| Contributions | 10/11 | €59,424 | €59,424 | = | 0.0% |
| Capital | 10 | €59,424 | €59,424 | = | 0.0% |
| Reserves | 13 | €1,248,072 | €1,248,072 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,576,659 | €5,228,142 | -€348,517 | -6.2% |
| Provisions and deferred taxes | 16 | €0 | €0 | = | |
| Provisions for liabilities and charges | 160/5 | €0 | €0 | = | |
| Other liabilities and charges | 164/5 | €0 | €0 | = | |
| Amounts payable | 17/49 | €8,742,951 | €8,359,132 | -€383,819 | -4.4% |
| Amounts payable after more than one year | 17 | €1,154,896 | €759,514 | -€395,382 | -34.2% |
| Financial debts | 170/4 | €1,154,896 | €759,514 | -€395,382 | -34.2% |
| Credit institutions | 173 | €1,154,896 | €759,514 | -€395,382 | -34.2% |
| Amounts payable within one year | 42/48 | €5,838,939 | €5,784,413 | -€54,526 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €382,582 | €395,381 | +€12,799 | +3.3% |
| Financial debts | 43 | €2,228,406 | €2,494,084 | +€265,678 | +11.9% |
| Credit institutions | 430/8 | €2,228,406 | €2,494,084 | +€265,678 | +11.9% |
| Trade debts | 44 | €1,644,018 | €1,526,998 | -€117,020 | -7.1% |
| Suppliers | 440/4 | €1,644,018 | €1,526,998 | -€117,020 | -7.1% |
| Taxes, remuneration and social security | 45 | €1,512,014 | €1,288,922 | -€223,092 | -14.8% |
| Taxes | 450/3 | €246,125 | €221,976 | -€24,149 | -9.8% |
| Remuneration and social security | 454/9 | €1,265,889 | €1,066,946 | -€198,943 | -15.7% |
| Accrued charges and deferred income | 492/3 | €1,749,116 | €1,815,205 | +€66,089 | +3.8% |
| Operating income | 70/76A | €10,715,323 | €10,793,450 | +€78,127 | +0.7% |
| Turnover | 70 | €584,096 | €549,276 | -€34,820 | -6.0% |
| Other operating income | 74 | €84,850 | €167,392 | +€82,542 | +97.3% |
| Operating charges | 60/66A | €11,265,339 | €11,115,572 | -€149,767 | -1.3% |
| Goods for resale, raw materials and consumables | 60 | €96,047 | €69,411 | -€26,636 | -27.7% |
| Purchases | 600/8 | €54,916 | €53,215 | -€1,701 | -3.1% |
| Change in stocks: decrease (increase) | 609 | €41,131 | €16,196 | -€24,935 | -60.6% |
| Services and other goods | 61 | €3,432,613 | €3,203,955 | -€228,658 | -6.7% |
| Remuneration, social security and pensions | 62 | €6,755,963 | €6,758,768 | +€2,805 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €947,955 | €1,056,719 | +€108,764 | +11.5% |
| Other operating charges | 640/8 | €35,167 | €26,719 | -€8,448 | -24.0% |
| Operating profit (loss) | 9901 | -€550,016 | -€322,122 | +€227,894 | +41.4% |
| Financial income | 75/76B | €499,666 | €109,370 | -€390,296 | -78.1% |
| Recurring financial income | 75 | €499,666 | €109,370 | -€390,296 | -78.1% |
| Income from current assets | 751 | €4 | €1 | -€3 | -75.0% |
| Other financial income | 752/9 | €499,662 | €109,369 | -€390,293 | -78.1% |
| Financial charges | 65/66B | €134,424 | €135,765 | +€1,341 | +1.0% |
| Recurring financial charges | 65 | €134,424 | €135,765 | +€1,341 | +1.0% |
| Debt charges | 650 | €114,590 | €134,772 | +€20,182 | +17.6% |
| Other financial charges | 652/9 | €19,834 | €993 | -€18,841 | -95.0% |
| Profit (loss) for the period before taxes | 9903 | -€184,774 | -€348,517 | -€163,743 | -88.6% |
| Profit (loss) for the period | 9904 | -€184,774 | -€348,517 | -€163,743 | -88.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€184,774 | -€348,517 | -€163,743 | -88.6% |
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 30 September 2026 via checked.be.