FERMENT: 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.
FERMENT
Largest movements
- Deferred charges and accrued income -€43,352
down €43,352 (-59.9%), from €72,350 to €28,998
- Receivables within one year -€29,431
down €29,431 (-48.4%), from €60,750 to €31,319
of which Other amounts receivable: -€24,721
- Cash -€29,296
down €29,296 (-40.1%), from €72,985 to €43,689
mainly Investment in fixed assets (net) (-€37,771) and Tax, wage and social debts (-€24,305)
- Stocks and contracts +€18,732
up €18,732 (+36.0%), from €51,964 to €70,697
- Tangible fixed assets +€10,694
up €10,694 (+15.6%), from €68,381 to €79,076
of which Plant, machinery and equipment: +€15,502
- Tax, wage and social debts -€24,305
down €24,305 (-36.5%), from €66,527 to €42,222
of which Remuneration and social security: -€18,888
- Accrued charges and deferred income -€24,094
down €24,094 (-66.4%), from €36,279 to €12,185
- Trade debts -€18,030
down €18,030 (-26.8%), from €67,372 to €49,343
- Advances received -€13,851
down €13,851 (-64.4%), from €21,501 to €7,650
- Profit (loss) carried forward +€7,197
new in 2025: €7,197
- Staff costs +€56,349
up €56,349 (+11.0%), from €511,179 to €567,528
- Gross operating margin +€38,228
up €38,228 (+6.6%), from €583,006 to €621,235
- Financial charges +€6,962
up €6,962 (+238%), from €2,922 to €9,884
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 | €326,431 | €253,778 | -€72,653 | -22.3% |
| Fixed assets | 21/28 | €68,381 | €79,076 | +€10,694 | +15.6% |
| Tangible fixed assets | 22/27 | €68,381 | €79,076 | +€10,694 | +15.6% |
| Plant, machinery and equipment | 23 | €45,220 | €60,722 | +€15,502 | +34.3% |
| Furniture and vehicles | 24 | €23,161 | €18,354 | -€4,807 | -20.8% |
| Current assets | 29/58 | €258,049 | €174,703 | -€83,347 | -32.3% |
| Stocks and contracts in progress | 3 | €51,964 | €70,697 | +€18,732 | +36.0% |
| Stocks | 30/36 | €51,964 | €70,697 | +€18,732 | +36.0% |
| Amounts receivable within one year | 40/41 | €60,750 | €31,319 | -€29,431 | -48.4% |
| Trade receivables | 40 | €5,038 | €328 | -€4,710 | -93.5% |
| Other amounts receivable | 41 | €55,712 | €30,991 | -€24,721 | -44.4% |
| Cash at bank and in hand | 54/58 | €72,985 | €43,689 | -€29,296 | -40.1% |
| Deferred charges and accrued income | 490/1 | €72,350 | €28,998 | -€43,352 | -59.9% |
| Total equity and liabilities | 10/49 | €326,431 | €253,778 | -€72,653 | -22.3% |
| Equity | 10/15 | €100,000 | €107,197 | +€7,197 | +7.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €7,197 | +€7,197 | |
| Amounts payable | 17/49 | €226,431 | €146,581 | -€79,849 | -35.3% |
| Amounts payable within one year | 42/48 | €190,152 | €134,397 | -€55,755 | -29.3% |
| Trade debts | 44 | €67,372 | €49,343 | -€18,030 | -26.8% |
| Suppliers | 440/4 | €67,372 | €49,343 | -€18,030 | -26.8% |
| Advances received on contracts in progress | 46 | €21,501 | €7,650 | -€13,851 | -64.4% |
| Taxes, remuneration and social security | 45 | €66,527 | €42,222 | -€24,305 | -36.5% |
| Taxes | 450/3 | €21,293 | €15,876 | -€5,417 | -25.4% |
| Remuneration and social security | 454/9 | €45,234 | €26,346 | -€18,888 | -41.8% |
| Other amounts payable | 47/48 | €34,752 | €35,182 | +€430 | +1.2% |
| Accrued charges and deferred income | 492/3 | €36,279 | €12,185 | -€24,094 | -66.4% |
| Remuneration, social security and pensions | 62 | €511,179 | €567,528 | +€56,349 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,396 | €27,077 | +€4,681 | +20.9% |
| Other operating charges | 640/8 | €976 | €1,006 | +€31 | +3.2% |
| Gross operating margin | 9900 | €583,006 | €621,235 | +€38,228 | +6.6% |
| Operating profit (loss) | 9901 | €48,456 | €25,623 | -€22,833 | -47.1% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €2,922 | €9,884 | +€6,962 | +238% |
| Recurring financial charges | 65 | €2,922 | €9,884 | +€6,962 | +238% |
| Profit (loss) for the period before taxes | 9903 | €45,534 | €15,742 | -€29,792 | -65.4% |
| Income taxes | 67/77 | €14,097 | €8,545 | -€5,552 | -39.4% |
| Profit (loss) for the period | 9904 | €31,437 | €7,197 | -€24,240 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,437 | €7,197 | -€24,240 | -77.1% |
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 25 October 2026 via checked.be.