FERNAGRI: 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.
FERNAGRI
Largest movements
- Tangible fixed assets +€192,862
up €192,862 (+22.9%), from €840,743 to €1.0m
- Cash +€76,458
up €76,458 (+913.6%), from €8,369 to €84,827
mainly Debts after one year (+€158,128) and Depreciation (+€149,475)
- Debts after one year +€158,128
up €158,128 (+40.8%), from €387,143 to €545,271
- Other debts +€45,000
up €45,000 (+52.9%), from €85,000 to €130,000
- Current portion of long-term debt +€43,888
up €43,888 (+50.8%), from €86,429 to €130,316
- Investment grants +€40,283
up €40,283 (+70.8%), from €56,875 to €97,158
- Reserves -€17,826
down €17,826 (-18.9%), from €94,541 to €76,716
of which Tax-exempt reserves: -€17,826
- Depreciation +€32,966
up €32,966 (+28.3%), from €116,509 to €149,475
- Gross operating margin +€26,162
up €26,162 (+26.9%), from €97,130 to €123,292
- Financial income +€16,514
up €16,514 (+145.1%), from €11,384 to €27,899
- Financial charges +€7,163
up €7,163 (+60.8%), from €11,775 to €18,938
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 | €866,006 | €1,139,358 | +€273,352 | +31.6% |
| Fixed assets | 21/28 | €840,743 | €1,033,606 | +€192,862 | +22.9% |
| Tangible fixed assets | 22/27 | €840,743 | €1,033,606 | +€192,862 | +22.9% |
| Plant, machinery and equipment | 23 | €840,743 | €1,033,606 | +€192,862 | +22.9% |
| Current assets | 29/58 | €25,263 | €105,752 | +€80,489 | +318.6% |
| Amounts receivable within one year | 40/41 | €16,795 | €20,826 | +€4,031 | +24.0% |
| Trade receivables | 40 | €16,795 | €19,819 | +€3,024 | +18.0% |
| Other amounts receivable | 41 | - | €1,007 | +€1,007 | |
| Current investments | 50/53 | €99 | €99 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,369 | €84,827 | +€76,458 | +913.6% |
| Total equity and liabilities | 10/49 | €866,006 | €1,139,358 | +€273,352 | +31.6% |
| Equity | 10/15 | €279,159 | €306,521 | +€27,362 | +9.8% |
| Contributions | 10/11 | €6,247 | €6,247 | = | 0.0% |
| Reserves | 13 | €94,541 | €76,716 | -€17,826 | -18.9% |
| Non-distributable reserves | 130/1 | €1,864 | €1,864 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,864 | €1,864 | = | 0.0% |
| Tax-exempt reserves | 132 | €92,677 | €74,851 | -€17,826 | -19.2% |
| Profit (loss) carried forward | 14 | €121,495 | €126,400 | +€4,905 | +4.0% |
| Investment grants | 15 | €56,875 | €97,158 | +€40,283 | +70.8% |
| Provisions and deferred taxes | 16 | €23,866 | €19,177 | -€4,689 | -19.6% |
| Deferred taxes | 168 | €23,866 | €19,177 | -€4,689 | -19.6% |
| Amounts payable | 17/49 | €562,981 | €813,659 | +€250,678 | +44.5% |
| Amounts payable after more than one year | 17 | €387,143 | €545,271 | +€158,128 | +40.8% |
| Financial debts | 170/4 | €387,143 | €545,271 | +€158,128 | +40.8% |
| Amounts payable within one year | 42/48 | €175,839 | €268,388 | +€92,550 | +52.6% |
| Current portion of amounts payable after more than one year | 42 | €86,429 | €130,316 | +€43,888 | +50.8% |
| Trade debts | 44 | €3,076 | €7,534 | +€4,458 | +144.9% |
| Suppliers | 440/4 | €3,076 | €7,534 | +€4,458 | +144.9% |
| Taxes, remuneration and social security | 45 | €1,334 | €538 | -€796 | -59.7% |
| Taxes | 450/3 | €834 | €38 | -€796 | -95.5% |
| Remuneration and social security | 454/9 | €500 | €500 | = | 0.0% |
| Other amounts payable | 47/48 | €85,000 | €130,000 | +€45,000 | +52.9% |
| Non-recurring operating income | 76A | €57 | - | -€57 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,509 | €149,475 | +€32,966 | +28.3% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €97,130 | €123,292 | +€26,162 | +26.9% |
| Operating profit (loss) | 9901 | -€19,763 | -€26,570 | -€6,807 | -34.4% |
| Financial income | 75/76B | €11,384 | €27,899 | +€16,514 | +145.1% |
| Recurring financial income | 75 | €11,384 | €27,899 | +€16,514 | +145.1% |
| Financial charges | 65/66B | €11,775 | €18,938 | +€7,163 | +60.8% |
| Recurring financial charges | 65 | €11,775 | €18,938 | +€7,163 | +60.8% |
| Profit (loss) for the period before taxes | 9903 | -€20,154 | -€17,609 | +€2,545 | +12.6% |
| Transfer from deferred taxes | 780 | €4,689 | €4,689 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€15,466 | -€12,921 | +€2,545 | +16.5% |
| Transfer from tax-exempt reserves | 789 | €17,826 | €17,826 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,360 | €4,905 | +€2,545 | +107.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.