Fero Group: 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.
What changed
Fero Group
NACE 46.500, Wholesale of information and communication equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€909,153
2024 · -€704,068-€205,085
Equity
€9.4m
2024 · €10.3m-€909,153
Cash
€5.1m
2024 · €2.0m+€3.1m
Balance sheet total
€68.9m
2024 · €76.8m-€7.9m
Largest movements
Assets
- Receivables within one year -€7.0m
down €7.0m (-39.8%), from €17.6m to €10.6m
of which Trade receivables: -€6.7m
- Intangible fixed assets -€4.5m
down €4.5m (-12.6%), from €35.3m to €30.8m
- Cash +€3.1m
up €3.1m (+158.6%), from €2.0m to €5.1m
mainly Receivables within one year (+€7.0m) and Depreciation (+€5.8m)
Equity and liabilities
- Debts after one year -€6.8m
down €6.8m (-11.6%), from €58.8m to €52.0m
- Short-term financial debts +€1.8m
up €1.8m (+674.2%), from €266,465 to €2.1m
- Tax, wage and social debts -€1.1m
down €1.1m (-26.0%), from €4.1m to €3.0m
of which Taxes: -€1.2m
- Trade debts -€936,786
down €936,786 (-28.0%), from €3.3m to €2.4m
- Profit (loss) carried forward -€909,153
down €909,153 (-12.0%), from €7.5m to €6.6m
Income statement
- Turnover -€4.4m
down €4.4m (-10.9%), from €40.3m to €35.9m
- Services and other goods -€2.3m
down €2.3m (-19.0%), from €12.3m to €10.0m
- Financial charges -€1.2m
down €1.2m (-25.3%), from €4.6m to €3.5m
- Goods and materials -€1.0m
down €1.0m (-23.4%), from €4.4m to €3.4m
- Staff costs +€580,150
up €580,150 (+4.4%), from €13.2m to €13.8m
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.
Result 2024
-€704,068
Turnover
-€4.4m
Other operating income
-€20,309
Goods and materials
+€1.0m
Services and other goods
+€2.3m
Staff costs
-€580,150
Depreciation
+€199,889
Write-downs
+€12,847
Other operating charges
-€67,335
Other operating items
+€2,266
Financial income
-€40,376
Financial charges
+€1.2m
Taxes
+€147,663
Result 2025
-€909,153
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.
From operations
+€9.9m
Investment
-€1.7m
Financing
-€5.0m
Cash 2024
€2.0m
From operations (derived)
+€9.9m
Net result for the year
-€909,153
Depreciation
+€5.8m
Receivables within one year
+€7.0m
Smaller working-capital items
+€470
Trade debts
-€936,786
Tax, wage and social debts
-€1.1m
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
-€5.0m
Debts after one year
-€6.8m
Current portion of long-term debt
-€10,072
Short-term financial debts
+€1.8m
Cash 2025
€5.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,826,584 | €68,897,131 | -€7.9m | -10.3% |
| Fixed assets | 21/28 | €57,114,539 | €53,069,002 | -€4.0m | -7.1% |
| Intangible fixed assets | 21 | €35,290,511 | €30,832,647 | -€4.5m | -12.6% |
| Tangible fixed assets | 22/27 | €2,552,847 | €2,975,175 | +€422,327 | +16.5% |
| Land and buildings | 22 | €12,605 | €10,862 | -€1,743 | -13.8% |
| Plant, machinery and equipment | 23 | €1,073,938 | €1,010,949 | -€62,989 | -5.9% |
| Furniture and vehicles | 24 | €1,141,271 | €1,493,065 | +€351,794 | +30.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €325,034 | €460,299 | +€135,265 | +41.6% |
| Financial fixed assets | 28 | €19,271,180 | €19,261,180 | -€10,000 | -0.1% |
| Affiliated companies | 280/1 | €19,247,000 | €19,247,000 | = | 0.0% |
| Participating interests | 280 | €19,247,000 | €19,247,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €24,180 | €14,180 | -€10,000 | -41.4% |
| Amounts receivable and cash guarantees | 285/8 | €24,180 | €14,180 | -€10,000 | -41.4% |
| Current assets | 29/58 | €19,712,046 | €15,828,130 | -€3.9m | -19.7% |
| Stocks and contracts in progress | 3 | €2,320 | €2,320 | = | 0.0% |
| Stocks | 30/36 | €2,320 | €2,320 | = | 0.0% |
| Goods purchased for resale | 34 | €2,320 | €2,320 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,590,814 | €10,596,962 | -€7.0m | -39.8% |
| Trade receivables | 40 | €17,230,777 | €10,486,791 | -€6.7m | -39.1% |
| Other amounts receivable | 41 | €360,038 | €110,171 | -€249,867 | -69.4% |
| Cash at bank and in hand | 54/58 | €1,960,167 | €5,069,833 | +€3.1m | +158.6% |
| Deferred charges and accrued income | 490/1 | €158,744 | €159,014 | +€269 | +0.2% |
| Total equity and liabilities | 10/49 | €76,826,584 | €68,897,131 | -€7.9m | -10.3% |
| Equity | 10/15 | €10,262,746 | €9,353,593 | -€909,153 | -8.9% |
| Contributions | 10/11 | €619,600 | €619,600 | = | 0.0% |
| Capital | 10 | €619,600 | €619,600 | = | 0.0% |
| Issued capital | 100 | €619,600 | €619,600 | = | 0.0% |
| Reserves | 13 | €2,096,885 | €2,096,885 | = | 0.0% |
| Non-distributable reserves | 130/1 | €43,651 | €43,651 | = | 0.0% |
| Legal reserve | 130 | €43,651 | €43,651 | = | 0.0% |
| Tax-exempt reserves | 132 | €751,567 | €0 | -€751,567 | -100.0% |
| Distributable reserves | 133 | €1,301,667 | €2,053,234 | +€751,567 | +57.7% |
| Profit (loss) carried forward | 14 | €7,546,261 | €6,637,108 | -€909,153 | -12.0% |
| Amounts payable | 17/49 | €66,563,839 | €59,543,538 | -€7.0m | -10.5% |
| Amounts payable after more than one year | 17 | €58,832,494 | €52,021,658 | -€6.8m | -11.6% |
| Financial debts | 170/4 | €58,832,494 | €52,021,658 | -€6.8m | -11.6% |
| Credit institutions | 173 | €33,724 | €11,341 | -€22,383 | -66.4% |
| Other loans | 174 | €58,798,769 | €52,010,317 | -€6.8m | -11.5% |
| Amounts payable within one year | 42/48 | €7,729,443 | €7,519,238 | -€210,204 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €32,456 | €22,383 | -€10,072 | -31.0% |
| Financial debts | 43 | €266,465 | €2,062,901 | +€1.8m | +674.2% |
| Credit institutions | 430/8 | €266,465 | €2,062,901 | +€1.8m | +674.2% |
| Trade debts | 44 | €3,348,380 | €2,411,594 | -€936,786 | -28.0% |
| Suppliers | 440/4 | €3,348,380 | €2,411,594 | -€936,786 | -28.0% |
| Taxes, remuneration and social security | 45 | €4,082,142 | €3,022,359 | -€1.1m | -26.0% |
| Taxes | 450/3 | €2,855,244 | €1,683,407 | -€1.2m | -41.0% |
| Remuneration and social security | 454/9 | €1,226,898 | €1,338,952 | +€112,054 | +9.1% |
| Accrued charges and deferred income | 492/3 | €1,903 | €2,642 | +€740 | +38.9% |
| Operating income | 70/76A | €41,605,437 | €37,165,878 | -€4.4m | -10.7% |
| Turnover | 70 | €40,290,828 | €35,886,799 | -€4.4m | -10.9% |
| Other operating income | 74 | €1,196,814 | €1,176,506 | -€20,309 | -1.7% |
| Non-recurring operating income | 76A | €117,794 | €102,573 | -€15,221 | -12.9% |
| Operating charges | 60/66A | €36,277,060 | €33,322,362 | -€3.0m | -8.1% |
| Goods for resale, raw materials and consumables | 60 | €4,418,733 | €3,386,395 | -€1.0m | -23.4% |
| Purchases | 600/8 | €4,418,733 | €3,386,395 | -€1.0m | -23.4% |
| Services and other goods | 61 | €12,326,233 | €9,986,611 | -€2.3m | -19.0% |
| Remuneration, social security and pensions | 62 | €13,170,459 | €13,750,609 | +€580,150 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,978,783 | €5,778,893 | -€199,889 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,611 | €11,764 | -€12,847 | -52.2% |
| Other operating charges | 640/8 | €302,208 | €369,543 | +€67,335 | +22.3% |
| Non-recurring operating charges | 66A | €56,034 | €38,547 | -€17,487 | -31.2% |
| Operating profit (loss) | 9901 | €5,328,377 | €3,843,515 | -€1.5m | -27.9% |
| Financial income | 75/76B | €40,405 | €29 | -€40,376 | -99.9% |
| Recurring financial income | 75 | €40,405 | €29 | -€40,376 | -99.9% |
| Income from current assets | 751 | €40,128 | €0 | -€40,128 | -100.0% |
| Other financial income | 752/9 | €277 | €29 | -€248 | -89.6% |
| Financial charges | 65/66B | €4,626,571 | €3,454,082 | -€1.2m | -25.3% |
| Recurring financial charges | 65 | €4,626,571 | €3,454,082 | -€1.2m | -25.3% |
| Debt charges | 650 | €4,610,651 | €3,436,933 | -€1.2m | -25.5% |
| Other financial charges | 652/9 | €15,921 | €17,150 | +€1,229 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €742,210 | €389,462 | -€352,748 | -47.5% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €1,446,278 | €1,298,615 | -€147,663 | -10.2% |
| Taxes | 670/3 | €1,446,278 | €1,298,615 | -€147,663 | -10.2% |
| Profit (loss) for the period | 9904 | -€704,068 | -€909,153 | -€205,085 | -29.1% |
| Transfer from tax-exempt reserves | 789 | €0 | €751,567 | +€751,567 | |
| Profit (loss) for the period to be appropriated | 9905 | -€704,068 | -€157,586 | +€546,482 | +77.6% |
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 10 October 2026 via checked.be.