FERMAX BELGIUM: 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.
What changed
FERMAX BELGIUM
NACE 46.643, Wholesale of electrical equipment, including installation materials
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€591,738
2024 · €911,710-€319,972
Equity
€2.2m
2024 · €2.5m-€308,262
Cash
€802,754
2024 · €623,421+€179,333
Balance sheet total
€3.1m
2024 · €3.5m-€398,582
Largest movements
Assets
- Current investments -€450,000
no longer reported in 2025 (was €450,000)
- Stocks and contracts -€267,157
down €267,157 (-27.6%), from €967,848 to €700,691
- Cash +€179,333
up €179,333 (+28.8%), from €623,421 to €802,754
mainly Net result for the year (+€591,738) and Current investments (+€450,000)
- Receivables within one year +€110,325
up €110,325 (+13.0%), from €849,891 to €960,216
of which Trade receivables: +€111,199
- Intangible fixed assets +€72,648
up €72,648 (+116%), from €62,559 to €135,207
Equity and liabilities
- Reserves -€307,979
down €307,979 (-18.0%), from €1.7m to €1.4m
of which Distributable reserves: -€307,979
- Trade debts -€188,498
down €188,498 (-30.7%), from €614,698 to €426,200
- Tax, wage and social debts +€81,687
up €81,687 (+27.2%), from €299,812 to €381,500
of which Taxes: +€53,975
- Accrued charges and deferred income +€64,942
up €64,942 (+527%), from €12,314 to €77,256
- Current portion of long-term debt -€36,438
down €36,438 (-75.2%), from €48,451 to €12,013
Income statement
- Goods and materials +€267,060
up €267,060 (+10.7%), from €2.5m to €2.8m
of which Change in stocks: decrease (increase): +€402,864
- Services and other goods +€160,977
up €160,977 (+14.3%), from €1.1m to €1.3m
- Staff costs +€125,716
up €125,716 (+7.9%), from €1.6m to €1.7m
- Turnover +€117,631
up €117,631 (+1.8%), from €6.4m to €6.5m
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
€911,710
Turnover
+€117,631
Other operating income
+€40,723
Goods and materials
-€267,060
Services and other goods
-€160,977
Staff costs
-€125,716
Depreciation
-€16,316
Write-downs
-€23,261
Other operating charges
+€23,979
Other operating items
+€46,634
Financial income
-€8,886
Financial charges
+€5,356
Taxes
+€47,920
Result 2025
€591,738
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€788,750
Investment
+€339,034
Financing
-€948,451
Cash 2024
€623,421
From operations (derived)
+€788,750
Net result for the year
+€591,738
Depreciation
+€77,356
Stocks and contracts
+€267,157
Receivables within one year
-€110,325
Deferred charges and accrued income
+€4,694
Trade debts
-€188,498
Tax, wage and social debts
+€81,687
Accrued charges and deferred income
+€64,942
Investment (derived)
+€339,034
Investment in fixed assets (net)
-€110,966
Current investments
+€450,000
Financing
-€948,451
Debts after one year
-€12,013
Current portion of long-term debt
-€36,438
Contributions, distributions and other
-€900,000
Cash 2025
€802,754
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,467,990 | €3,069,408 | -€398,582 | -11.5% |
| Fixed assets | 21/28 | €543,868 | €577,478 | +€33,611 | +6.2% |
| Intangible fixed assets | 21 | €62,559 | €135,207 | +€72,648 | +116% |
| Tangible fixed assets | 22/27 | €481,208 | €442,171 | -€39,038 | -8.1% |
| Land and buildings | 22 | €436,774 | €409,636 | -€27,139 | -6.2% |
| Plant, machinery and equipment | 23 | €41,910 | €30,526 | -€11,384 | -27.2% |
| Furniture and vehicles | 24 | €2,524 | €2,009 | -€515 | -20.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Other financial fixed assets | 284/8 | €100 | €100 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €2,924,122 | €2,491,929 | -€432,193 | -14.8% |
| Stocks and contracts in progress | 3 | €967,848 | €700,691 | -€267,157 | -27.6% |
| Stocks | 30/36 | €967,848 | €700,691 | -€267,157 | -27.6% |
| Goods purchased for resale | 34 | €967,848 | €700,691 | -€267,157 | -27.6% |
| Amounts receivable within one year | 40/41 | €849,891 | €960,216 | +€110,325 | +13.0% |
| Trade receivables | 40 | €847,471 | €958,670 | +€111,199 | +13.1% |
| Other amounts receivable | 41 | €2,420 | €1,546 | -€874 | -36.1% |
| Current investments | 50/53 | €450,000 | - | -€450,000 | |
| Other investments | 51/53 | €450,000 | - | -€450,000 | |
| Cash at bank and in hand | 54/58 | €623,421 | €802,754 | +€179,333 | +28.8% |
| Deferred charges and accrued income | 490/1 | €32,963 | €28,269 | -€4,694 | -14.2% |
| Total equity and liabilities | 10/49 | €3,467,990 | €3,069,408 | -€398,582 | -11.5% |
| Equity | 10/15 | €2,470,215 | €2,161,953 | -€308,262 | -12.5% |
| Contributions | 10/11 | €622,600 | €622,600 | = | 0.0% |
| Capital | 10 | €622,600 | €622,600 | = | 0.0% |
| Issued capital | 100 | €622,600 | €622,600 | = | 0.0% |
| Revaluation surpluses | 12 | €133,158 | €133,158 | = | 0.0% |
| Reserves | 13 | €1,714,173 | €1,406,194 | -€307,979 | -18.0% |
| Non-distributable reserves | 130/1 | €62,260 | €62,260 | = | 0.0% |
| Legal reserve | 130 | €62,260 | €62,260 | = | 0.0% |
| Distributable reserves | 133 | €1,651,913 | €1,343,934 | -€307,979 | -18.6% |
| Profit (loss) carried forward | 14 | €283 | - | -€283 | |
| Amounts payable | 17/49 | €997,775 | €907,455 | -€90,320 | -9.1% |
| Amounts payable after more than one year | 17 | €22,500 | €10,487 | -€12,013 | -53.4% |
| Financial debts | 170/4 | €22,500 | €10,487 | -€12,013 | -53.4% |
| Credit institutions | 173 | €22,500 | €10,487 | -€12,013 | -53.4% |
| Amounts payable within one year | 42/48 | €962,961 | €819,712 | -€143,249 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €48,451 | €12,013 | -€36,438 | -75.2% |
| Trade debts | 44 | €614,698 | €426,200 | -€188,498 | -30.7% |
| Suppliers | 440/4 | €614,698 | €426,200 | -€188,498 | -30.7% |
| Taxes, remuneration and social security | 45 | €299,812 | €381,500 | +€81,687 | +27.2% |
| Taxes | 450/3 | €117,786 | €171,762 | +€53,975 | +45.8% |
| Remuneration and social security | 454/9 | €182,026 | €209,738 | +€27,712 | +15.2% |
| Accrued charges and deferred income | 492/3 | €12,314 | €77,256 | +€64,942 | +527% |
| Operating income | 70/76A | €6,430,219 | €6,635,206 | +€204,988 | +3.2% |
| Turnover | 70 | €6,359,804 | €6,477,435 | +€117,631 | +1.8% |
| Own construction capitalised | 72 | €43,011 | €89,646 | +€46,634 | +108% |
| Other operating income | 74 | €27,404 | €68,126 | +€40,723 | +149% |
| Operating charges | 60/66A | €5,309,084 | €5,878,433 | +€569,350 | +10.7% |
| Goods for resale, raw materials and consumables | 60 | €2,490,932 | €2,757,992 | +€267,060 | +10.7% |
| Purchases | 600/8 | €2,649,896 | €2,514,092 | -€135,804 | -5.1% |
| Change in stocks: decrease (increase) | 609 | -€158,964 | €243,900 | +€402,864 | |
| Services and other goods | 61 | €1,125,670 | €1,286,647 | +€160,977 | +14.3% |
| Remuneration, social security and pensions | 62 | €1,593,159 | €1,718,875 | +€125,716 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,040 | €77,356 | +€16,316 | +26.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €23,261 | +€23,261 | |
| Other operating charges | 640/8 | €38,282 | €14,303 | -€23,979 | -62.6% |
| Operating profit (loss) | 9901 | €1,121,135 | €756,773 | -€364,362 | -32.5% |
| Financial income | 75/76B | €14,914 | €6,028 | -€8,886 | -59.6% |
| Recurring financial income | 75 | €14,914 | €6,028 | -€8,886 | -59.6% |
| Income from current assets | 751 | €14,914 | €3,548 | -€11,366 | -76.2% |
| Other financial income | 752/9 | - | €2,480 | +€2,480 | |
| Financial charges | 65/66B | €50,895 | €45,540 | -€5,356 | -10.5% |
| Recurring financial charges | 65 | €50,895 | €45,540 | -€5,356 | -10.5% |
| Debt charges | 650 | €26,429 | €24,252 | -€2,177 | -8.2% |
| Other financial charges | 652/9 | €24,466 | €21,287 | -€3,179 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €1,085,154 | €717,262 | -€367,892 | -33.9% |
| Income taxes | 67/77 | €173,445 | €125,524 | -€47,920 | -27.6% |
| Taxes | 670/3 | €173,445 | €125,524 | -€47,920 | -27.6% |
| Profit (loss) for the period | 9904 | €911,710 | €591,738 | -€319,972 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €911,710 | €591,738 | -€319,972 | -35.1% |
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 20 October 2026 via checked.be.