FERME MEDARD: what changed
FERME MEDARD
Largest movements
- Tangible fixed assets +€33,980
up €33,980 (+42.4%), from €80,218 to €114,198
of which Assets under construction and advance payments: +€50,719
- Receivables within one year -€19,278
down €19,278 (-35.1%), from €54,866 to €35,589
of which Trade receivables: -€12,695
- Cash +€5,729
up €5,729 (+33.8%), from €16,927 to €22,657
mainly Depreciation (+€24,695) and Receivables within one year (+€19,278)
- Deferred charges and accrued income +€4,057
up €4,057 (+14.0%), from €29,021 to €33,078
- Reserves +€12,218
up €12,218 (+8.3%), from €147,383 to €159,602
of which Distributable reserves: +€12,218
- Other debts +€11,525
up €11,525 (+95.1%), from €12,118 to €23,643
- Gross operating margin +€38,764
up €38,764, from -€460 to €38,304
- Taxes +€7,535
up €7,535, from -€6,313 to €1,222
- Depreciation +€6,464
up €6,464 (+35.5%), from €18,231 to €24,695
- Other operating charges -€523
down €523 (-76.4%), from €684 to €161
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €220,193 | €244,724 | +€24,531 | +11.1% |
| Fixed assets | 21/28 | €84,090 | €117,546 | +€33,457 | +39.8% |
| Tangible fixed assets | 22/27 | €80,218 | €114,198 | +€33,980 | +42.4% |
| Land and buildings | 22 | €1,644 | €340 | -€1,304 | -79.3% |
| Plant, machinery and equipment | 23 | €969 | €784 | -€185 | -19.1% |
| Furniture and vehicles | 24 | €53,015 | €37,765 | -€15,250 | -28.8% |
| Other tangible fixed assets | 26 | €3,282 | €3,282 | = | 0.0% |
| Assets under construction and advance payments | 27 | €21,308 | €72,027 | +€50,719 | +238% |
| Financial fixed assets | 28 | €3,871 | €3,348 | -€523 | -13.5% |
| Current assets | 29/58 | €136,103 | €127,177 | -€8,926 | -6.6% |
| Stocks and contracts in progress | 3 | €33,275 | €33,841 | +€566 | +1.7% |
| Stocks | 30/36 | €33,275 | €33,841 | +€566 | +1.7% |
| Amounts receivable within one year | 40/41 | €54,866 | €35,589 | -€19,278 | -35.1% |
| Trade receivables | 40 | €30,507 | €17,812 | -€12,695 | -41.6% |
| Other amounts receivable | 41 | €24,359 | €17,776 | -€6,583 | -27.0% |
| Current investments | 50/53 | €2,013 | €2,013 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,927 | €22,657 | +€5,729 | +33.8% |
| Deferred charges and accrued income | 490/1 | €29,021 | €33,078 | +€4,057 | +14.0% |
| Total equity and liabilities | 10/49 | €220,193 | €244,724 | +€24,531 | +11.1% |
| Equity | 10/15 | €137,538 | €149,756 | +€12,218 | +8.9% |
| Contributions | 10/11 | €18,605 | €18,605 | = | 0.0% |
| Reserves | 13 | €147,383 | €159,602 | +€12,218 | +8.3% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €144,283 | €156,502 | +€12,218 | +8.5% |
| Profit (loss) carried forward | 14 | -€28,451 | -€28,451 | = | 0.0% |
| Amounts payable | 17/49 | €82,655 | €94,968 | +€12,313 | +14.9% |
| Amounts payable within one year | 42/48 | €72,959 | €84,787 | +€11,827 | +16.2% |
| Trade debts | 44 | €60,841 | €61,143 | +€302 | +0.5% |
| Suppliers | 440/4 | €60,841 | €61,143 | +€302 | +0.5% |
| Other amounts payable | 47/48 | €12,118 | €23,643 | +€11,525 | +95.1% |
| Accrued charges and deferred income | 492/3 | €9,696 | €10,181 | +€485 | +5.0% |
| Non-recurring operating income | 76A | €1,180 | - | -€1,180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,231 | €24,695 | +€6,464 | +35.5% |
| Other operating charges | 640/8 | €684 | €161 | -€523 | -76.4% |
| Gross operating margin | 9900 | -€460 | €38,304 | +€38,764 | |
| Operating profit (loss) | 9901 | -€19,376 | €13,448 | +€32,824 | |
| Financial income | 75/76B | €119 | €47 | -€73 | -60.9% |
| Recurring financial income | 75 | €119 | €47 | -€73 | -60.9% |
| Financial charges | 65/66B | €159 | €54 | -€105 | -65.9% |
| Recurring financial charges | 65 | €159 | €54 | -€105 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,416 | €13,440 | +€32,856 | |
| Income taxes | 67/77 | -€6,313 | €1,222 | +€7,535 | |
| Profit (loss) for the period | 9904 | -€13,102 | €12,218 | +€25,321 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,102 | €12,218 | +€25,321 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.