FERO: 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.
FERO
Largest movements
- Receivables within one year +€915,303
up €915,303 (+19.9%), from €4.6m to €5.5m
of which Trade receivables: +€883,577
- Stocks and contracts -€191,695
down €191,695 (-62.0%), from €309,280 to €117,585
- Cash +€117,269
up €117,269 (+1578.2%), from €7,430 to €124,699
mainly Tax, wage and social debts (+€554,113) and Trade debts (+€254,343)
- Tangible fixed assets -€74,350
down €74,350 (-8.2%), from €905,248 to €830,899
- Tax, wage and social debts +€554,113
up €554,113 (+78.3%), from €707,955 to €1.3m
of which Remuneration and social security: +€402,037
- Accrued charges and deferred income -€297,405
no longer reported in 2024 (was €297,405)
- Trade debts +€254,343
up €254,343 (+15.0%), from €1.7m to €1.9m
- Other debts +€253,625
up €253,625 (+26.1%), from €972,194 to €1.2m
- Gross operating margin +€476,521
up €476,521 (+52.9%), from €900,582 to €1.4m
- Staff costs +€377,524
up €377,524 (+54.5%), from €692,854 to €1.1m
- Financial charges +€113,622
up €113,622 (+348.7%), from €32,581 to €146,203
- Taxes -€40,772
down €40,772 (-75.4%), from €54,044 to €13,272
- Other operating charges +€19,197
up €19,197 (+79.9%), from €24,026 to €43,223
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,867,162 | €6,622,766 | +€755,604 | +12.9% |
| Fixed assets | 21/28 | €946,028 | €866,986 | -€79,041 | -8.4% |
| Tangible fixed assets | 22/27 | €905,248 | €830,899 | -€74,350 | -8.2% |
| Land and buildings | 22 | €792,994 | €759,590 | -€33,404 | -4.2% |
| Plant, machinery and equipment | 23 | €48,546 | €30,524 | -€18,022 | -37.1% |
| Furniture and vehicles | 24 | €44,972 | €26,616 | -€18,356 | -40.8% |
| Other tangible fixed assets | 26 | €18,737 | €14,169 | -€4,568 | -24.4% |
| Financial fixed assets | 28 | €40,779 | €36,088 | -€4,692 | -11.5% |
| Current assets | 29/58 | €4,921,134 | €5,755,779 | +€834,645 | +17.0% |
| Stocks and contracts in progress | 3 | €309,280 | €117,585 | -€191,695 | -62.0% |
| Stocks | 30/36 | €309,280 | €117,585 | -€191,695 | -62.0% |
| Amounts receivable within one year | 40/41 | €4,596,133 | €5,511,436 | +€915,303 | +19.9% |
| Trade receivables | 40 | €3,924,447 | €4,808,024 | +€883,577 | +22.5% |
| Other amounts receivable | 41 | €671,686 | €703,412 | +€31,726 | +4.7% |
| Cash at bank and in hand | 54/58 | €7,430 | €124,699 | +€117,269 | +1578.2% |
| Deferred charges and accrued income | 490/1 | €8,291 | €2,059 | -€6,232 | -75.2% |
| Total equity and liabilities | 10/49 | €5,867,162 | €6,622,766 | +€755,604 | +12.9% |
| Equity | 10/15 | €861,038 | €882,922 | +€21,884 | +2.5% |
| Contributions | 10/11 | €308,600 | €308,600 | = | 0.0% |
| Revaluation surpluses | 12 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €6,474 | €6,474 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,450 | €6,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,450 | €6,450 | = | 0.0% |
| Tax-exempt reserves | 132 | €24 | €24 | = | 0.0% |
| Profit (loss) carried forward | 14 | €345,964 | €367,849 | +€21,884 | +6.3% |
| Provisions and deferred taxes | 16 | €28,387 | €28,387 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €28,387 | €28,387 | = | 0.0% |
| Environmental obligations | 163 | €28,387 | €28,387 | = | 0.0% |
| Amounts payable | 17/49 | €4,977,737 | €5,711,457 | +€733,719 | +14.7% |
| Amounts payable after more than one year | 17 | €431,171 | €404,194 | -€26,978 | -6.3% |
| Financial debts | 170/4 | €431,171 | €404,194 | -€26,978 | -6.3% |
| Amounts payable within one year | 42/48 | €4,249,161 | €5,307,263 | +€1.1m | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €57,846 | €58,077 | +€231 | +0.4% |
| Trade debts | 44 | €1,694,201 | €1,948,544 | +€254,343 | +15.0% |
| Suppliers | 440/4 | €1,694,201 | €1,948,544 | +€254,343 | +15.0% |
| Advances received on contracts in progress | 46 | €816,966 | €812,756 | -€4,210 | -0.5% |
| Taxes, remuneration and social security | 45 | €707,955 | €1,262,068 | +€554,113 | +78.3% |
| Taxes | 450/3 | €191,709 | €343,786 | +€152,076 | +79.3% |
| Remuneration and social security | 454/9 | €516,245 | €918,282 | +€402,037 | +77.9% |
| Other amounts payable | 47/48 | €972,194 | €1,225,819 | +€253,625 | +26.1% |
| Accrued charges and deferred income | 492/3 | €297,405 | - | -€297,405 | |
| Remuneration, social security and pensions | 62 | €692,854 | €1,070,378 | +€377,524 | +54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,007 | €82,142 | -€3,865 | -4.5% |
| Other operating charges | 640/8 | €24,026 | €43,223 | +€19,197 | +79.9% |
| Gross operating margin | 9900 | €900,582 | €1,377,103 | +€476,521 | +52.9% |
| Operating profit (loss) | 9901 | €97,695 | €181,360 | +€83,665 | +85.6% |
| Financial charges | 65/66B | €32,581 | €146,203 | +€113,622 | +348.7% |
| Recurring financial charges | 65 | €32,581 | €146,203 | +€113,622 | +348.7% |
| Profit (loss) for the period before taxes | 9903 | €65,113 | €35,157 | -€29,957 | -46.0% |
| Income taxes | 67/77 | €54,044 | €13,272 | -€40,772 | -75.4% |
| Profit (loss) for the period | 9904 | €11,069 | €21,884 | +€10,815 | +97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,069 | €21,884 | +€10,815 | +97.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.