FERME P.J.M.: what changed
FERME P.J.M.
Largest movements
- Stocks and contracts +€14,910
up €14,910 (+161%), from €9,286 to €24,196
- Cash -€7,221
down €7,221 (-6.4%), from €112,038 to €104,817
mainly Contributions, distributions and other (-€32,000) and Stocks and contracts (-€14,910)
- Tangible fixed assets -€1,834
down €1,834 (-13.3%), from €13,756 to €11,923
- Reserves -€24,200
down €24,200 (-22.6%), from €107,100 to €82,900
of which Distributable reserves: -€24,200
- Other debts +€14,393
new in 2025: €14,393
- Trade debts +€10,952
up €10,952 (+50.2%), from €21,817 to €32,769
- Tax, wage and social debts +€3,922
up €3,922 (+56.8%), from €6,903 to €10,826
- Gross operating margin -€15,458
down €15,458 (-50.3%), from €30,728 to €15,270
- Taxes -€4,865
down €4,865 (-51.9%), from €9,373 to €4,509
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 | €167,996 | €173,099 | +€5,103 | +3.0% |
| Fixed assets | 21/28 | €20,083 | €18,249 | -€1,834 | -9.1% |
| Tangible fixed assets | 22/27 | €13,756 | €11,923 | -€1,834 | -13.3% |
| Plant, machinery and equipment | 23 | €13,756 | €11,923 | -€1,834 | -13.3% |
| Financial fixed assets | 28 | €6,327 | €6,327 | = | 0.0% |
| Current assets | 29/58 | €147,913 | €154,850 | +€6,937 | +4.7% |
| Stocks and contracts in progress | 3 | €9,286 | €24,196 | +€14,910 | +161% |
| Stocks | 30/36 | €9,286 | €24,196 | +€14,910 | +161% |
| Amounts receivable within one year | 40/41 | €24,808 | €24,069 | -€739 | -3.0% |
| Trade receivables | 40 | €9,541 | €23,519 | +€13,978 | +147% |
| Other amounts receivable | 41 | €15,267 | €550 | -€14,717 | -96.4% |
| Cash at bank and in hand | 54/58 | €112,038 | €104,817 | -€7,221 | -6.4% |
| Deferred charges and accrued income | 490/1 | €1,782 | €1,768 | -€14 | -0.8% |
| Total equity and liabilities | 10/49 | €167,996 | €173,099 | +€5,103 | +3.0% |
| Equity | 10/15 | €139,275 | €115,112 | -€24,164 | -17.3% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Contributions outside capital | 11 | €31,000 | €31,000 | = | 0.0% |
| Other | 1109/19 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €107,100 | €82,900 | -€24,200 | -22.6% |
| 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 | €104,000 | €79,800 | -€24,200 | -23.3% |
| Profit (loss) carried forward | 14 | €1,175 | €1,212 | +€36 | +3.1% |
| Amounts payable | 17/49 | €28,721 | €57,987 | +€29,267 | +102% |
| Amounts payable within one year | 42/48 | €28,721 | €57,987 | +€29,267 | +102% |
| Trade debts | 44 | €21,817 | €32,769 | +€10,952 | +50.2% |
| Suppliers | 440/4 | €21,817 | €32,769 | +€10,952 | +50.2% |
| Taxes, remuneration and social security | 45 | €6,903 | €10,826 | +€3,922 | +56.8% |
| Taxes | 450/3 | €6,903 | €10,826 | +€3,922 | +56.8% |
| Other amounts payable | 47/48 | - | €14,393 | +€14,393 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,834 | €1,834 | = | 0.0% |
| Other operating charges | 640/8 | €988 | €994 | +€6 | +0.6% |
| Gross operating margin | 9900 | €30,728 | €15,270 | -€15,458 | -50.3% |
| Operating profit (loss) | 9901 | €27,906 | €12,443 | -€15,464 | -55.4% |
| Financial income | 75/76B | €144 | €61 | -€83 | -57.6% |
| Recurring financial income | 75 | €144 | €61 | -€83 | -57.6% |
| Financial charges | 65/66B | €132 | €158 | +€26 | +20.0% |
| Recurring financial charges | 65 | €132 | €158 | +€26 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €27,918 | €12,345 | -€15,573 | -55.8% |
| Income taxes | 67/77 | €9,373 | €4,509 | -€4,865 | -51.9% |
| Profit (loss) for the period | 9904 | €18,545 | €7,836 | -€10,708 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,545 | €7,836 | -€10,708 | -57.7% |
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 3 November 2026 via checked.be.