FERONA: 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.
FERONA
Largest movements
- Cash -€59,811
down €59,811 (-64.9%), from €92,165 to €32,354
mainly Contributions, distributions and other (-€81,585) and Tax, wage and social debts (-€11,654)
- Tangible fixed assets -€17,247
down €17,247 (-26.4%), from €65,440 to €48,193
of which Furniture and vehicles: -€12,626
- Deferred charges and accrued income -€5,331
down €5,331 (-87.2%), from €6,116 to €785
- Receivables within one year +€1,920
up €1,920 (+33.7%), from €5,702 to €7,622
- Reserves -€53,049
down €53,049 (-45.7%), from €115,969 to €62,921
of which Distributable reserves: -€51,189
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Tax, wage and social debts -€11,654
no longer reported in 2025 (was €11,654)
- Other debts +€8,760
new in 2025: €8,760
- Debts after one year -€6,205
down €6,205 (-43.1%), from €14,387 to €8,182
- Gross operating margin -€28,965
down €28,965 (-36.0%), from €80,392 to €51,427
- Taxes -€9,424
down €9,424 (-58.9%), from €16,003 to €6,578
- Staff costs +€4,094
up €4,094 (+57.4%), from €7,131 to €11,225
- Depreciation +€1,509
up €1,509 (+8.0%), from €18,807 to €20,316
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 | €170,071 | €90,452 | -€79,619 | -46.8% |
| Fixed assets | 21/28 | €65,540 | €48,293 | -€17,247 | -26.3% |
| Tangible fixed assets | 22/27 | €65,440 | €48,193 | -€17,247 | -26.4% |
| Plant, machinery and equipment | 23 | €12,090 | €8,614 | -€3,476 | -28.8% |
| Furniture and vehicles | 24 | €48,355 | €35,729 | -€12,626 | -26.1% |
| Other tangible fixed assets | 26 | €4,995 | €3,850 | -€1,145 | -22.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €104,531 | €42,160 | -€62,371 | -59.7% |
| Stocks and contracts in progress | 3 | €548 | €1,398 | +€850 | +155.1% |
| Stocks | 30/36 | €548 | €1,398 | +€850 | +155.1% |
| Amounts receivable within one year | 40/41 | €5,702 | €7,622 | +€1,920 | +33.7% |
| Other amounts receivable | 41 | €5,702 | €7,622 | +€1,920 | +33.7% |
| Cash at bank and in hand | 54/58 | €92,165 | €32,354 | -€59,811 | -64.9% |
| Deferred charges and accrued income | 490/1 | €6,116 | €785 | -€5,331 | -87.2% |
| Total equity and liabilities | 10/49 | €170,071 | €90,452 | -€79,619 | -46.8% |
| Equity | 10/15 | €134,569 | €62,921 | -€71,649 | -53.2% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €115,969 | €62,921 | -€53,049 | -45.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €114,109 | €62,921 | -€51,189 | -44.9% |
| Amounts payable | 17/49 | €35,502 | €27,532 | -€7,970 | -22.4% |
| Amounts payable after more than one year | 17 | €14,387 | €8,182 | -€6,205 | -43.1% |
| Financial debts | 170/4 | €14,387 | €8,182 | -€6,205 | -43.1% |
| Amounts payable within one year | 42/48 | €21,115 | €18,957 | -€2,158 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €5,918 | €6,205 | +€287 | +4.9% |
| Trade debts | 44 | €3,544 | €3,992 | +€448 | +12.6% |
| Suppliers | 440/4 | €3,544 | €3,992 | +€448 | +12.6% |
| Taxes, remuneration and social security | 45 | €11,654 | - | -€11,654 | |
| Taxes | 450/3 | €11,654 | - | -€11,654 | |
| Other amounts payable | 47/48 | - | €8,760 | +€8,760 | |
| Accrued charges and deferred income | 492/3 | - | €394 | +€394 | |
| Remuneration, social security and pensions | 62 | €7,131 | €11,225 | +€4,094 | +57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,807 | €20,316 | +€1,509 | +8.0% |
| Other operating charges | 640/8 | €2,828 | €2,154 | -€674 | -23.8% |
| Gross operating margin | 9900 | €80,392 | €51,427 | -€28,965 | -36.0% |
| Operating profit (loss) | 9901 | €51,626 | €17,732 | -€33,894 | -65.7% |
| Financial income | 75/76B | €180 | €36 | -€144 | -80.0% |
| Recurring financial income | 75 | €180 | €36 | -€144 | -80.0% |
| Financial charges | 65/66B | €1,434 | €1,254 | -€180 | -12.6% |
| Recurring financial charges | 65 | €1,434 | €1,254 | -€180 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €50,372 | €16,514 | -€33,857 | -67.2% |
| Income taxes | 67/77 | €16,003 | €6,578 | -€9,424 | -58.9% |
| Profit (loss) for the period | 9904 | €34,369 | €9,936 | -€24,433 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,369 | €9,936 | -€24,433 | -71.1% |
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 5 October 2026 via checked.be.