FERMER: 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.
FERMER
Largest movements
- Tangible fixed assets +€50,501
up €50,501 (+17.1%), from €295,002 to €345,503
of which Other tangible fixed assets: +€42,950
- Cash -€18,638
down €18,638 (-27.4%), from €67,993 to €49,356
mainly Investment in fixed assets (net) (-€89,309) and Trade debts (-€16,358)
- Deferred charges and accrued income -€6,365
down €6,365 (-40.6%), from €15,679 to €9,314
- Other debts +€30,000
new in 2025: €30,000
- Trade debts -€16,358
down €16,358 (-80.7%), from €20,258 to €3,900
- Reserves +€15,000
up €15,000 (+19.4%), from €77,122 to €92,122
of which Distributable reserves: +€15,000
- Current portion of long-term debt +€5,760
up €5,760 (+39.0%), from €14,767 to €20,527
- Debts after one year -€5,527
down €5,527 (-2.5%), from €220,293 to €214,766
- Staff costs -€13,922
down €13,922 (-14.2%), from €98,211 to €84,289
- Gross operating margin +€13,401
up €13,401 (+8.4%), from €159,037 to €172,439
- Depreciation +€10,232
up €10,232 (+35.8%), from €28,577 to €38,809
- Taxes +€7,668
up €7,668 (+226.9%), from €3,380 to €11,048
- Other operating charges +€2,475
up €2,475 (+64.2%), from €3,853 to €6,328
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 | €388,194 | €414,748 | +€26,554 | +6.8% |
| Fixed assets | 21/28 | €297,252 | €347,753 | +€50,501 | +17.0% |
| Tangible fixed assets | 22/27 | €295,002 | €345,503 | +€50,501 | +17.1% |
| Land and buildings | 22 | €230,380 | €240,090 | +€9,710 | +4.2% |
| Plant, machinery and equipment | 23 | €23,161 | €21,159 | -€2,001 | -8.6% |
| Furniture and vehicles | 24 | €33,608 | €33,450 | -€158 | -0.5% |
| Other tangible fixed assets | 26 | €7,854 | €50,804 | +€42,950 | +546.9% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €90,942 | €66,996 | -€23,946 | -26.3% |
| Stocks and contracts in progress | 3 | €5,024 | €5,024 | = | 0.0% |
| Stocks | 30/36 | €5,024 | €5,024 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,246 | €3,303 | +€1,056 | +47.0% |
| Trade receivables | 40 | €666 | €1,325 | +€659 | +98.9% |
| Other amounts receivable | 41 | €1,580 | €1,977 | +€397 | +25.1% |
| Cash at bank and in hand | 54/58 | €67,993 | €49,356 | -€18,638 | -27.4% |
| Deferred charges and accrued income | 490/1 | €15,679 | €9,314 | -€6,365 | -40.6% |
| Total equity and liabilities | 10/49 | €388,194 | €414,748 | +€26,554 | +6.8% |
| Equity | 10/15 | €98,484 | €114,119 | +€15,635 | +15.9% |
| Contributions | 10/11 | €6,733 | €6,733 | = | 0.0% |
| Reserves | 13 | €77,122 | €92,122 | +€15,000 | +19.4% |
| Non-distributable reserves | 130/1 | €673 | €673 | = | 0.0% |
| Reserves not available under the articles | 1311 | €673 | €673 | = | 0.0% |
| Distributable reserves | 133 | €76,449 | €91,449 | +€15,000 | +19.6% |
| Profit (loss) carried forward | 14 | €14,628 | €15,263 | +€635 | +4.3% |
| Amounts payable | 17/49 | €289,711 | €300,630 | +€10,919 | +3.8% |
| Amounts payable after more than one year | 17 | €220,293 | €214,766 | -€5,527 | -2.5% |
| Financial debts | 170/4 | €220,293 | €214,766 | -€5,527 | -2.5% |
| Amounts payable within one year | 42/48 | €65,340 | €82,039 | +€16,699 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €14,767 | €20,527 | +€5,760 | +39.0% |
| Trade debts | 44 | €20,258 | €3,900 | -€16,358 | -80.7% |
| Suppliers | 440/4 | €20,258 | €3,900 | -€16,358 | -80.7% |
| Taxes, remuneration and social security | 45 | €30,315 | €27,612 | -€2,703 | -8.9% |
| Taxes | 450/3 | €18,508 | €25,939 | +€7,431 | +40.1% |
| Remuneration and social security | 454/9 | €11,807 | €1,673 | -€10,134 | -85.8% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €4,078 | €3,825 | -€253 | -6.2% |
| Non-recurring operating income | 76A | €13,171 | €30,750 | +€17,579 | +133.5% |
| Remuneration, social security and pensions | 62 | €98,211 | €84,289 | -€13,922 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,577 | €38,809 | +€10,232 | +35.8% |
| Other operating charges | 640/8 | €3,853 | €6,328 | +€2,475 | +64.2% |
| Non-recurring operating charges | 66A | - | €10,748 | +€10,748 | |
| Gross operating margin | 9900 | €159,037 | €172,439 | +€13,401 | +8.4% |
| Operating profit (loss) | 9901 | €28,396 | €32,265 | +€3,869 | +13.6% |
| Financial income | 75/76B | €821 | €144 | -€677 | -82.5% |
| Recurring financial income | 75 | €821 | €144 | -€677 | -82.5% |
| Financial charges | 65/66B | €5,708 | €5,726 | +€18 | +0.3% |
| Recurring financial charges | 65 | €5,708 | €5,726 | +€18 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €23,509 | €26,683 | +€3,174 | +13.5% |
| Income taxes | 67/77 | €3,380 | €11,048 | +€7,668 | +226.9% |
| Profit (loss) for the period | 9904 | €20,129 | €15,635 | -€4,494 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,129 | €15,635 | -€4,494 | -22.3% |
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 8 October 2026 via checked.be.