FERNAND'S TEAM: 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.
FERNAND'S TEAM
Largest movements
- Cash +€9,108
up €9,108 (+40.4%), from €22,566 to €31,675
mainly Net result for the year (+€9,311) and Trade debts (+€2,746)
- Tangible fixed assets -€2,272
down €2,272 (-10.0%), from €22,696 to €20,424
- Deferred charges and accrued income +€1,106
up €1,106 (+81.1%), from €1,364 to €2,470
- Reserves +€9,311
up €9,311 (+107.5%), from €8,660 to €17,971
- Other debts -€4,952
down €4,952 (-67.4%), from €7,350 to €2,399
- Trade debts +€2,746
up €2,746 (+229.0%), from €1,200 to €3,946
- Tax, wage and social debts +€2,534
up €2,534 (+28.4%), from €8,930 to €11,464
of which Remuneration and social security: +€1,640
- Debts after one year -€1,367
down €1,367 (-18.6%), from €7,338 to €5,970
- Depreciation -€3,606
down €3,606 (-61.3%), from €5,878 to €2,272
- Gross operating margin +€2,120
up €2,120 (+3.1%), from €68,222 to €70,342
- Taxes +€1,317
up €1,317 (+42.2%), from €3,120 to €4,436
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 | €50,386 | €58,717 | +€8,332 | +16.5% |
| Fixed assets | 21/28 | €22,995 | €20,722 | -€2,272 | -9.9% |
| Tangible fixed assets | 22/27 | €22,696 | €20,424 | -€2,272 | -10.0% |
| Land and buildings | 22 | €13,009 | €12,527 | -€482 | -3.7% |
| Plant, machinery and equipment | 23 | €8,364 | €7,809 | -€555 | -6.6% |
| Furniture and vehicles | 24 | €418 | €88 | -€330 | -79.0% |
| Other tangible fixed assets | 26 | €905 | €0 | -€905 | -100.0% |
| Financial fixed assets | 28 | €299 | €299 | = | 0.0% |
| Current assets | 29/58 | €27,391 | €37,995 | +€10,604 | +38.7% |
| Stocks and contracts in progress | 3 | €607 | €714 | +€107 | +17.7% |
| Stocks | 30/36 | €607 | €714 | +€107 | +17.7% |
| Amounts receivable within one year | 40/41 | €2,854 | €3,136 | +€283 | +9.9% |
| Trade receivables | 40 | €890 | €3,126 | +€2,236 | +251.4% |
| Other amounts receivable | 41 | €1,964 | €11 | -€1,953 | -99.5% |
| Cash at bank and in hand | 54/58 | €22,566 | €31,675 | +€9,108 | +40.4% |
| Deferred charges and accrued income | 490/1 | €1,364 | €2,470 | +€1,106 | +81.1% |
| Total equity and liabilities | 10/49 | €50,386 | €58,717 | +€8,332 | +16.5% |
| Equity | 10/15 | €24,260 | €33,571 | +€9,311 | +38.4% |
| Contributions | 10/11 | €15,600 | €15,600 | = | 0.0% |
| Reserves | 13 | €8,660 | €17,971 | +€9,311 | +107.5% |
| Distributable reserves | 133 | €8,660 | €17,971 | +€9,311 | +107.5% |
| Amounts payable | 17/49 | €26,126 | €25,146 | -€980 | -3.7% |
| Amounts payable after more than one year | 17 | €7,338 | €5,970 | -€1,367 | -18.6% |
| Financial debts | 170/4 | €7,338 | €5,970 | -€1,367 | -18.6% |
| Amounts payable within one year | 42/48 | €18,788 | €19,176 | +€388 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €1,309 | €1,367 | +€59 | +4.5% |
| Trade debts | 44 | €1,200 | €3,946 | +€2,746 | +229.0% |
| Suppliers | 440/4 | €1,200 | €3,946 | +€2,746 | +229.0% |
| Taxes, remuneration and social security | 45 | €8,930 | €11,464 | +€2,534 | +28.4% |
| Taxes | 450/3 | €3,320 | €4,215 | +€895 | +27.0% |
| Remuneration and social security | 454/9 | €5,609 | €7,249 | +€1,640 | +29.2% |
| Other amounts payable | 47/48 | €7,350 | €2,399 | -€4,952 | -67.4% |
| Remuneration, social security and pensions | 62 | €52,937 | €53,245 | +€309 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,878 | €2,272 | -€3,606 | -61.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €68,222 | €70,342 | +€2,120 | +3.1% |
| Operating profit (loss) | 9901 | €9,020 | €14,424 | +€5,405 | +59.9% |
| Financial income | 75/76B | €54 | €76 | +€22 | +41.5% |
| Recurring financial income | 75 | €54 | €76 | +€22 | +41.5% |
| Financial charges | 65/66B | €587 | €753 | +€166 | +28.2% |
| Recurring financial charges | 65 | €587 | €753 | +€166 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €8,486 | €13,748 | +€5,262 | +62.0% |
| Income taxes | 67/77 | €3,120 | €4,436 | +€1,317 | +42.2% |
| Profit (loss) for the period | 9904 | €5,366 | €9,311 | +€3,945 | +73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,366 | €9,311 | +€3,945 | +73.5% |
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 7 October 2026 via checked.be.