Feron de Ghellinck: 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.
Feron de Ghellinck
Largest movements
- Tangible fixed assets -€126,019
down €126,019 (-48.6%), from €259,397 to €133,378
of which Land and buildings: -€124,534
- Current investments +€116,856
new in 2025: €116,856
- Debts after one year -€48,216
down €48,216 (-100%), from €48,216 to €0
- Reserves +€38,000
new in 2025: €38,000
- Other debts +€19,685
up €19,685 (+11.3%), from €174,320 to €194,005
- Current portion of long-term debt -€11,182
down €11,182 (-100%), from €11,182 to €0
- Short-term financial debts -€8,127
down €8,127 (-100%), from €8,127 to €0
- Gross operating margin +€47,640
up €47,640 (+371%), from €12,838 to €60,478
- Taxes +€7,827
new in 2025: €7,827
- Depreciation -€5,592
down €5,592 (-45.3%), from €12,337 to €6,745
- Financial charges +€2,245
up €2,245 (+74.3%), from €3,020 to €5,265
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,292 | €251,264 | -€9,027 | -3.5% |
| Fixed assets | 21/28 | €259,397 | €133,378 | -€126,019 | -48.6% |
| Tangible fixed assets | 22/27 | €259,397 | €133,378 | -€126,019 | -48.6% |
| Land and buildings | 22 | €253,197 | €128,663 | -€124,534 | -49.2% |
| Plant, machinery and equipment | 23 | €5,824 | €4,715 | -€1,108 | -19.0% |
| Furniture and vehicles | 24 | €377 | €0 | -€377 | -100% |
| Current assets | 29/58 | €895 | €117,886 | +€116,992 | +13,077% |
| Amounts receivable within one year | 40/41 | - | €923 | +€923 | |
| Other amounts receivable | 41 | - | €923 | +€923 | |
| Current investments | 50/53 | - | €116,856 | +€116,856 | |
| Deferred charges and accrued income | 490/1 | €895 | €107 | -€788 | -88.0% |
| Total equity and liabilities | 10/49 | €260,292 | €251,264 | -€9,027 | -3.5% |
| Equity | 10/15 | €18,182 | €56,458 | +€38,276 | +211% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €38,000 | +€38,000 | |
| Distributable reserves | 133 | - | €38,000 | +€38,000 | |
| Profit (loss) carried forward | 14 | -€1,818 | -€1,542 | +€276 | +15.2% |
| Amounts payable | 17/49 | €242,110 | €194,806 | -€47,303 | -19.5% |
| Amounts payable after more than one year | 17 | €48,216 | €0 | -€48,216 | -100% |
| Financial debts | 170/4 | €48,216 | €0 | -€48,216 | -100% |
| Amounts payable within one year | 42/48 | €193,894 | €194,806 | +€912 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €11,182 | €0 | -€11,182 | -100% |
| Financial debts | 43 | €8,127 | €0 | -€8,127 | -100% |
| Credit institutions | 430/8 | €8,127 | €0 | -€8,127 | -100% |
| Trade debts | 44 | €265 | €801 | +€536 | +203% |
| Suppliers | 440/4 | €265 | €801 | +€536 | +203% |
| Other amounts payable | 47/48 | €174,320 | €194,005 | +€19,685 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,337 | €6,745 | -€5,592 | -45.3% |
| Other operating charges | 640/8 | €2,331 | €2,365 | +€34 | +1.5% |
| Gross operating margin | 9900 | €12,838 | €60,478 | +€47,640 | +371% |
| Operating profit (loss) | 9901 | -€1,830 | €51,368 | +€53,198 | |
| Financial charges | 65/66B | €3,020 | €5,265 | +€2,245 | +74.3% |
| Recurring financial charges | 65 | €3,020 | €5,265 | +€2,245 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,850 | €46,103 | +€50,953 | |
| Income taxes | 67/77 | - | €7,827 | +€7,827 | |
| Profit (loss) for the period | 9904 | -€4,850 | €38,276 | +€43,126 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,850 | €38,276 | +€43,126 |
Source: filed annual accounts (NBB), financial years ended 29 December 2024 and 29 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.