Ferm: 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.
Ferm
Largest movements
- Tangible fixed assets -€36,704
down €36,704 (-14.7%), from €249,402 to €212,698
of which Plant, machinery and equipment: -€33,484
- Stocks and contracts -€15,340
down €15,340 (-22.7%), from €67,601 to €52,260
- Cash +€6,933
up €6,933 (+13.8%), from €50,292 to €57,226
mainly Trade debts (+€48,387) and Current portion of long-term debt (+€43,538)
- Receivables within one year +€6,025
up €6,025 (+10.3%), from €58,564 to €64,589
of which Trade receivables: +€14,730
- Debts after one year -€78,965
down €78,965 (-28.6%), from €275,732 to €196,767
- Profit (loss) carried forward -€51,347
down €51,347 (-92.7%), from €55,406 to €4,059
- Trade debts +€48,387
up €48,387 (+128%), from €37,753 to €86,140
- Current portion of long-term debt +€43,538
up €43,538 (+123%), from €35,428 to €78,965
- Gross operating margin -€131,233
down €131,233 (-73.7%), from €178,079 to €46,846
- Staff costs -€58,164
down €58,164 (-57.1%), from €101,792 to €43,628
- Depreciation -€3,808
down €3,808 (-9.4%), from €40,511 to €36,704
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 | €429,662 | €389,671 | -€39,991 | -9.3% |
| Fixed assets | 21/28 | €249,477 | €212,773 | -€36,704 | -14.7% |
| Tangible fixed assets | 22/27 | €249,402 | €212,698 | -€36,704 | -14.7% |
| Plant, machinery and equipment | 23 | €238,926 | €205,442 | -€33,484 | -14.0% |
| Furniture and vehicles | 24 | €3,680 | €1,299 | -€2,381 | -64.7% |
| Other tangible fixed assets | 26 | €6,796 | €5,957 | -€839 | -12.3% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €180,185 | €176,898 | -€3,287 | -1.8% |
| Stocks and contracts in progress | 3 | €67,601 | €52,260 | -€15,340 | -22.7% |
| Stocks | 30/36 | €67,601 | €52,260 | -€15,340 | -22.7% |
| Amounts receivable within one year | 40/41 | €58,564 | €64,589 | +€6,025 | +10.3% |
| Trade receivables | 40 | €24,070 | €38,800 | +€14,730 | +61.2% |
| Other amounts receivable | 41 | €34,495 | €25,789 | -€8,705 | -25.2% |
| Cash at bank and in hand | 54/58 | €50,292 | €57,226 | +€6,933 | +13.8% |
| Deferred charges and accrued income | 490/1 | €3,728 | €2,823 | -€905 | -24.3% |
| Total equity and liabilities | 10/49 | €429,662 | €389,671 | -€39,991 | -9.3% |
| Equity | 10/15 | €74,006 | €22,659 | -€51,347 | -69.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,406 | €4,059 | -€51,347 | -92.7% |
| Amounts payable | 17/49 | €355,656 | €367,013 | +€11,356 | +3.2% |
| Amounts payable after more than one year | 17 | €275,732 | €196,767 | -€78,965 | -28.6% |
| Financial debts | 170/4 | €275,732 | €196,767 | -€78,965 | -28.6% |
| Amounts payable within one year | 42/48 | €79,924 | €170,246 | +€90,322 | +113% |
| Current portion of amounts payable after more than one year | 42 | €35,428 | €78,965 | +€43,538 | +123% |
| Trade debts | 44 | €37,753 | €86,140 | +€48,387 | +128% |
| Suppliers | 440/4 | €37,753 | €86,140 | +€48,387 | +128% |
| Taxes, remuneration and social security | 45 | €2,743 | €1,141 | -€1,603 | -58.4% |
| Taxes | 450/3 | €31 | €104 | +€74 | +241% |
| Remuneration and social security | 454/9 | €2,713 | €1,036 | -€1,676 | -61.8% |
| Other amounts payable | 47/48 | €4,000 | €4,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €101,792 | €43,628 | -€58,164 | -57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,511 | €36,704 | -€3,808 | -9.4% |
| Other operating charges | 640/8 | €9,347 | €8,877 | -€470 | -5.0% |
| Non-recurring operating charges | 66A | €2,700 | €0 | -€2,700 | -100% |
| Gross operating margin | 9900 | €178,079 | €46,846 | -€131,233 | -73.7% |
| Operating profit (loss) | 9901 | €23,729 | -€42,362 | -€66,091 | |
| Financial income | 75/76B | €270 | €142 | -€128 | -47.4% |
| Recurring financial income | 75 | €270 | €142 | -€128 | -47.4% |
| Financial charges | 65/66B | €10,077 | €9,127 | -€950 | -9.4% |
| Recurring financial charges | 65 | €10,077 | €9,127 | -€950 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €13,922 | -€51,347 | -€65,269 | |
| Income taxes | 67/77 | €31 | €0 | -€31 | -100% |
| Profit (loss) for the period | 9904 | €13,891 | -€51,347 | -€65,238 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,891 | -€51,347 | -€65,238 |
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 16 October 2026 via checked.be.