FERMAC: 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.
FERMAC
Largest movements
- Cash -€3,312
down €3,312 (-65.8%), from €5,037 to €1,725
mainly Trade debts (-€12,382) and Receivables within one year (-€2,447)
- Receivables within one year +€2,447
up €2,447 (+61.5%), from €3,982 to €6,430
of which Trade receivables: +€2,659
- Stocks and contracts -€2,206
down €2,206 (-83.6%), from €2,641 to €434
- Deferred charges and accrued income -€1,323
down €1,323 (-52.6%), from €2,517 to €1,194
- Tangible fixed assets -€1,029
down €1,029 (-36.7%), from €2,802 to €1,773
- Trade debts -€12,382
down €12,382 (-57.0%), from €21,736 to €9,353
- Profit (loss) carried forward +€6,178
up €6,178 (+54.8%), from -€11,284 to -€5,106
- Accrued charges and deferred income +€787
up €787, from €0 to €787
- Tax, wage and social debts -€284
down €284 (-7.1%), from €3,978 to €3,694
of which Remuneration and social security: -€369
- Other debts +€277
up €277 (+17.9%), from €1,549 to €1,826
- Gross operating margin +€19,964
up €19,964 (+65.9%), from €30,310 to €50,274
- Financial charges +€3,638
up €3,638 (+2013.3%), from €181 to €3,818
- Staff costs +€3,139
up €3,139 (+9.3%), from €33,736 to €36,875
- Depreciation -€2,421
down €2,421 (-51.6%), from €4,689 to €2,269
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 | €16,978 | €11,555 | -€5,423 | -31.9% |
| Fixed assets | 21/28 | €2,802 | €1,773 | -€1,029 | -36.7% |
| Tangible fixed assets | 22/27 | €2,802 | €1,773 | -€1,029 | -36.7% |
| Furniture and vehicles | 24 | €2,802 | €1,773 | -€1,029 | -36.7% |
| Current assets | 29/58 | €14,176 | €9,782 | -€4,394 | -31.0% |
| Stocks and contracts in progress | 3 | €2,641 | €434 | -€2,206 | -83.6% |
| Stocks | 30/36 | €2,641 | €434 | -€2,206 | -83.6% |
| Amounts receivable within one year | 40/41 | €3,982 | €6,430 | +€2,447 | +61.5% |
| Trade receivables | 40 | €2,204 | €4,863 | +€2,659 | +120.7% |
| Other amounts receivable | 41 | €1,779 | €1,567 | -€212 | -11.9% |
| Cash at bank and in hand | 54/58 | €5,037 | €1,725 | -€3,312 | -65.8% |
| Deferred charges and accrued income | 490/1 | €2,517 | €1,194 | -€1,323 | -52.6% |
| Total equity and liabilities | 10/49 | €16,978 | €11,555 | -€5,423 | -31.9% |
| Equity | 10/15 | -€10,284 | -€4,106 | +€6,178 | +60.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,284 | -€5,106 | +€6,178 | +54.8% |
| Amounts payable | 17/49 | €27,262 | €15,661 | -€11,601 | -42.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Trade debts | 175 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €27,262 | €14,874 | -€12,389 | -45.4% |
| Trade debts | 44 | €21,736 | €9,353 | -€12,382 | -57.0% |
| Suppliers | 440/4 | €21,736 | €9,353 | -€12,382 | -57.0% |
| Taxes, remuneration and social security | 45 | €3,978 | €3,694 | -€284 | -7.1% |
| Taxes | 450/3 | €0 | €86 | +€86 | |
| Remuneration and social security | 454/9 | €3,978 | €3,609 | -€369 | -9.3% |
| Other amounts payable | 47/48 | €1,549 | €1,826 | +€277 | +17.9% |
| Accrued charges and deferred income | 492/3 | €0 | €787 | +€787 | |
| Remuneration, social security and pensions | 62 | €33,736 | €36,875 | +€3,139 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,689 | €2,269 | -€2,421 | -51.6% |
| Other operating charges | 640/8 | €1,231 | €1,138 | -€93 | -7.6% |
| Gross operating margin | 9900 | €30,310 | €50,274 | +€19,964 | +65.9% |
| Operating profit (loss) | 9901 | -€9,346 | €9,993 | +€19,339 | |
| Financial income | 75/76B | €0 | €4 | +€4 | +1629.2% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +1629.2% |
| Financial charges | 65/66B | €181 | €3,818 | +€3,638 | +2013.3% |
| Recurring financial charges | 65 | €181 | €3,818 | +€3,638 | +2013.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,527 | €6,178 | +€15,705 | |
| Income taxes | 67/77 | €32 | - | -€32 | |
| Profit (loss) for the period | 9904 | -€9,558 | €6,178 | +€15,736 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,558 | €6,178 | +€15,736 |
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 3 October 2026 via checked.be.