FERONG: 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.
FERONG
Largest movements
- Receivables after one year -€100,859
down €100,859 (-40.2%), from €251,139 to €150,280
- Cash +€24,623
new in 2025: €24,623
mainly Receivables after one year (+€100,859) and Net result for the year (+€76,400)
- Tangible fixed assets +€7,918
up €7,918 (+13.8%), from €57,293 to €65,212
of which Furniture and vehicles: +€7,458
- Receivables within one year -€6,796
down €6,796 (-4.2%), from €163,627 to €156,832
of which Trade receivables: -€6,435
- Debts after one year -€30,021
down €30,021 (-94.1%), from €31,910 to €1,889
- Reserves -€27,170
down €27,170 (-7.7%), from €350,888 to €323,718
of which Distributable reserves: -€27,170
- Current portion of long-term debt -€17,372
down €17,372 (-60.3%), from €28,812 to €11,440
- Gross operating margin +€42,520
up €42,520 (+52.6%), from €80,779 to €123,299
- Taxes +€12,483
up €12,483 (+65.7%), from €18,988 to €31,471
- Financial charges -€2,071
down €2,071 (-26.4%), from €7,852 to €5,781
- Depreciation +€1,376
up €1,376 (+19.6%), from €7,029 to €8,405
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 | €532,062 | €454,402 | -€77,660 | -14.6% |
| Fixed assets | 21/28 | €62,771 | €70,690 | +€7,918 | +12.6% |
| Tangible fixed assets | 22/27 | €57,293 | €65,212 | +€7,918 | +13.8% |
| Land and buildings | 22 | €45,199 | €42,220 | -€2,979 | -6.6% |
| Plant, machinery and equipment | 23 | €1,991 | €5,430 | +€3,439 | +172.7% |
| Furniture and vehicles | 24 | €10,103 | €17,561 | +€7,458 | +73.8% |
| Financial fixed assets | 28 | €5,478 | €5,478 | = | 0.0% |
| Current assets | 29/58 | €469,290 | €383,712 | -€85,578 | -18.2% |
| Amounts receivable after more than one year | 29 | €251,139 | €150,280 | -€100,859 | -40.2% |
| Other amounts receivable | 291 | €251,139 | €150,280 | -€100,859 | -40.2% |
| Amounts receivable within one year | 40/41 | €163,627 | €156,832 | -€6,796 | -4.2% |
| Trade receivables | 40 | €162,112 | €155,677 | -€6,435 | -4.0% |
| Other amounts receivable | 41 | €1,515 | €1,155 | -€361 | -23.8% |
| Current investments | 50/53 | €20,620 | €20,620 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €24,623 | +€24,623 | |
| Deferred charges and accrued income | 490/1 | €33,904 | €31,358 | -€2,546 | -7.5% |
| Total equity and liabilities | 10/49 | €532,062 | €454,402 | -€77,660 | -14.6% |
| Equity | 10/15 | €415,397 | €388,227 | -€27,170 | -6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €350,888 | €323,718 | -€27,170 | -7.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €349,028 | €321,858 | -€27,170 | -7.8% |
| Profit (loss) carried forward | 14 | €45,910 | €45,910 | = | 0.0% |
| Amounts payable | 17/49 | €116,664 | €66,175 | -€50,490 | -43.3% |
| Amounts payable after more than one year | 17 | €31,910 | €1,889 | -€30,021 | -94.1% |
| Financial debts | 170/4 | €31,910 | €1,889 | -€30,021 | -94.1% |
| Amounts payable within one year | 42/48 | €84,754 | €64,286 | -€20,468 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €28,812 | €11,440 | -€17,372 | -60.3% |
| Trade debts | 44 | €10,558 | €9,916 | -€641 | -6.1% |
| Suppliers | 440/4 | €10,558 | €9,916 | -€641 | -6.1% |
| Taxes, remuneration and social security | 45 | €45,384 | €42,929 | -€2,455 | -5.4% |
| Taxes | 450/3 | €42,312 | €42,929 | +€617 | +1.5% |
| Remuneration and social security | 454/9 | €3,072 | - | -€3,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,029 | €8,405 | +€1,376 | +19.6% |
| Other operating charges | 640/8 | €1,206 | €1,242 | +€36 | +3.0% |
| Gross operating margin | 9900 | €80,779 | €123,299 | +€42,520 | +52.6% |
| Operating profit (loss) | 9901 | €72,545 | €113,653 | +€41,108 | +56.7% |
| Financial charges | 65/66B | €7,852 | €5,781 | -€2,071 | -26.4% |
| Recurring financial charges | 65 | €7,852 | €5,781 | -€2,071 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €64,693 | €107,871 | +€43,178 | +66.7% |
| Income taxes | 67/77 | €18,988 | €31,471 | +€12,483 | +65.7% |
| Profit (loss) for the period | 9904 | €45,705 | €76,400 | +€30,695 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,705 | €76,400 | +€30,695 | +67.2% |
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 7 October 2026 via checked.be.