FERO Management: 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 Management
Largest movements
- Tangible fixed assets -€25,215
down €25,215 (-7.0%), from €360,382 to €335,168
of which Furniture and vehicles: -€21,914
- Receivables within one year +€13,843
up €13,843 (+184%), from €7,529 to €21,371
of which Trade receivables: +€7,269
- Cash +€4,667
up €4,667 (+19.8%), from €23,588 to €28,255
mainly Depreciation (+€30,933) and Net result for the year (+€28,199)
- Profit (loss) carried forward +€28,199
up €28,199 (+28.8%), from €97,829 to €126,029
- Debts after one year -€20,342
down €20,342 (-8.4%), from €241,392 to €221,050
- Other debts -€17,371
down €17,371 (-77.3%), from €22,478 to €5,107
- Financial income -€125,065
down €125,065 (-100.0%), from €125,125 to €60
- Depreciation -€29,260
down €29,260 (-48.6%), from €60,193 to €30,933
- Gross operating margin -€17,307
down €17,307 (-18.2%), from €95,183 to €77,877
- Financial charges +€2,877
up €2,877 (+58.5%), from €4,919 to €7,796
- Taxes +€2,724
up €2,724 (+50.8%), from €5,364 to €8,088
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 | €400,774 | €395,016 | -€5,758 | -1.4% |
| Fixed assets | 21/28 | €369,657 | €344,443 | -€25,215 | -6.8% |
| Tangible fixed assets | 22/27 | €360,382 | €335,168 | -€25,215 | -7.0% |
| Land and buildings | 22 | €275,237 | €272,142 | -€3,095 | -1.1% |
| Plant, machinery and equipment | 23 | €355 | €149 | -€206 | -58.0% |
| Furniture and vehicles | 24 | €84,791 | €62,877 | -€21,914 | -25.8% |
| Financial fixed assets | 28 | €9,275 | €9,275 | = | 0.0% |
| Current assets | 29/58 | €31,116 | €50,573 | +€19,457 | +62.5% |
| Amounts receivable within one year | 40/41 | €7,529 | €21,371 | +€13,843 | +184% |
| Trade receivables | 40 | - | €7,269 | +€7,269 | |
| Other amounts receivable | 41 | €7,529 | €14,102 | +€6,573 | +87.3% |
| Cash at bank and in hand | 54/58 | €23,588 | €28,255 | +€4,667 | +19.8% |
| Deferred charges and accrued income | 490/1 | - | €947 | +€947 | |
| Total equity and liabilities | 10/49 | €400,774 | €395,016 | -€5,758 | -1.4% |
| Equity | 10/15 | €116,379 | €144,579 | +€28,199 | +24.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,829 | €126,029 | +€28,199 | +28.8% |
| Amounts payable | 17/49 | €284,394 | €250,437 | -€33,957 | -11.9% |
| Amounts payable after more than one year | 17 | €241,392 | €221,050 | -€20,342 | -8.4% |
| Financial debts | 170/4 | €241,392 | €221,050 | -€20,342 | -8.4% |
| Amounts payable within one year | 42/48 | €43,002 | €27,449 | -€15,552 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €19,588 | €20,342 | +€755 | +3.9% |
| Trade debts | 44 | €936 | €2,000 | +€1,064 | +114% |
| Suppliers | 440/4 | €936 | €2,000 | +€1,064 | +114% |
| Other amounts payable | 47/48 | €22,478 | €5,107 | -€17,371 | -77.3% |
| Accrued charges and deferred income | 492/3 | - | €1,938 | +€1,938 | |
| Non-recurring operating income | 76A | €14,000 | - | -€14,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,193 | €30,933 | -€29,260 | -48.6% |
| Other operating charges | 640/8 | €2,180 | €2,921 | +€741 | +34.0% |
| Gross operating margin | 9900 | €95,183 | €77,877 | -€17,307 | -18.2% |
| Operating profit (loss) | 9901 | €32,810 | €44,023 | +€11,213 | +34.2% |
| Financial income | 75/76B | €125,125 | €60 | -€125,065 | -100.0% |
| Recurring financial income | 75 | €125,125 | €60 | -€125,065 | -100.0% |
| Financial charges | 65/66B | €4,919 | €7,796 | +€2,877 | +58.5% |
| Recurring financial charges | 65 | €4,919 | €7,796 | +€2,877 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €153,016 | €36,287 | -€116,729 | -76.3% |
| Income taxes | 67/77 | €5,364 | €8,088 | +€2,724 | +50.8% |
| Profit (loss) for the period | 9904 | €147,652 | €28,199 | -€119,453 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €147,652 | €28,199 | -€119,453 | -80.9% |
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 1 November 2026 via checked.be.