FERMET: 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.
FERMET
Largest movements
- Cash -€85,407
down €85,407 (-40.4%), from €211,187 to €125,781
mainly Investment in fixed assets (net) (-€43,324) and Trade debts (-€42,345)
- Tangible fixed assets -€4,950
down €4,950 (-2.3%), from €213,276 to €208,326
of which Furniture and vehicles: -€5,252
- Trade debts -€42,345
down €42,345 (-69.7%), from €60,785 to €18,441
- Other debts -€36,815
down €36,815 (-12.2%), from €302,143 to €265,328
- Reserves +€22,000
up €22,000 (+135%), from €16,250 to €38,250
of which Distributable reserves: +€22,000
- Tax, wage and social debts -€20,907
down €20,907 (-57.5%), from €36,358 to €15,450
of which Remuneration and social security: -€20,363
- Accrued charges and deferred income -€7,908
down €7,908 (-20.7%), from €38,217 to €30,309
- Staff costs +€29,189
up €29,189 (+4.9%), from €591,871 to €621,060
- Depreciation +€10,430
up €10,430 (+27.6%), from €37,843 to €48,273
- Financial charges +€9,047
up €9,047 (+40.7%), from €22,241 to €31,289
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 | €466,590 | €380,419 | -€86,172 | -18.5% |
| Fixed assets | 21/28 | €213,940 | €208,991 | -€4,950 | -2.3% |
| Tangible fixed assets | 22/27 | €213,276 | €208,326 | -€4,950 | -2.3% |
| Plant, machinery and equipment | 23 | €13,918 | €16,718 | +€2,800 | +20.1% |
| Furniture and vehicles | 24 | €9,164 | €3,912 | -€5,252 | -57.3% |
| Other tangible fixed assets | 26 | €190,194 | €187,697 | -€2,497 | -1.3% |
| Financial fixed assets | 28 | €664 | €664 | = | 0.0% |
| Current assets | 29/58 | €252,650 | €171,428 | -€81,222 | -32.1% |
| Stocks and contracts in progress | 3 | €22,145 | €25,642 | +€3,497 | +15.8% |
| Stocks | 30/36 | €22,145 | €25,642 | +€3,497 | +15.8% |
| Amounts receivable within one year | 40/41 | €9,834 | €7,756 | -€2,078 | -21.1% |
| Trade receivables | 40 | €9,834 | €7,704 | -€2,130 | -21.7% |
| Other amounts receivable | 41 | - | €52 | +€52 | |
| Cash at bank and in hand | 54/58 | €211,187 | €125,781 | -€85,407 | -40.4% |
| Deferred charges and accrued income | 490/1 | €9,484 | €12,250 | +€2,766 | +29.2% |
| Total equity and liabilities | 10/49 | €466,590 | €380,419 | -€86,172 | -18.5% |
| Equity | 10/15 | €29,087 | €50,890 | +€21,803 | +75.0% |
| Contributions | 10/11 | €12,499 | €12,499 | = | 0.0% |
| Reserves | 13 | €16,250 | €38,250 | +€22,000 | +135% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €37,000 | +€22,000 | +147% |
| Profit (loss) carried forward | 14 | €338 | €141 | -€197 | -58.2% |
| Amounts payable | 17/49 | €437,504 | €329,529 | -€107,975 | -24.7% |
| Amounts payable within one year | 42/48 | €399,287 | €299,220 | -€100,067 | -25.1% |
| Trade debts | 44 | €60,785 | €18,441 | -€42,345 | -69.7% |
| Suppliers | 440/4 | €60,785 | €18,441 | -€42,345 | -69.7% |
| Taxes, remuneration and social security | 45 | €36,358 | €15,450 | -€20,907 | -57.5% |
| Taxes | 450/3 | €8,766 | €8,221 | -€545 | -6.2% |
| Remuneration and social security | 454/9 | €27,592 | €7,229 | -€20,363 | -73.8% |
| Other amounts payable | 47/48 | €302,143 | €265,328 | -€36,815 | -12.2% |
| Accrued charges and deferred income | 492/3 | €38,217 | €30,309 | -€7,908 | -20.7% |
| Remuneration, social security and pensions | 62 | €591,871 | €621,060 | +€29,189 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,843 | €48,273 | +€10,430 | +27.6% |
| Other operating charges | 640/8 | €871 | €2,838 | +€1,968 | +226% |
| Non-recurring operating charges | 66A | €23 | €0 | -€23 | -100% |
| Gross operating margin | 9900 | €718,793 | €725,569 | +€6,777 | +0.9% |
| Operating profit (loss) | 9901 | €88,185 | €53,397 | -€34,788 | -39.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €22,241 | €31,289 | +€9,047 | +40.7% |
| Recurring financial charges | 65 | €22,241 | €31,289 | +€9,047 | +40.7% |
| Profit (loss) for the period before taxes | 9903 | €65,944 | €22,109 | -€43,835 | -66.5% |
| Income taxes | 67/77 | €417 | €305 | -€111 | -26.7% |
| Profit (loss) for the period | 9904 | €65,527 | €21,803 | -€43,724 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,527 | €21,803 | -€43,724 | -66.7% |
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 16 October 2026 via checked.be.