FERRATES: 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.
FERRATES
Largest movements
- Tangible fixed assets -€28,778
down €28,778 (-75.6%), from €38,069 to €9,291
of which Furniture and vehicles: -€27,005
- Cash +€11,831
up €11,831 (+24.2%), from €48,932 to €60,763
mainly Investment in fixed assets (net) (+€26,663) and Depreciation (+€2,116)
- Debts after one year -€7,986
down €7,986 (-32.0%), from €24,982 to €16,995
- Current portion of long-term debt -€5,976
down €5,976 (-42.8%), from €13,963 to €7,986
- Tax, wage and social debts -€3,833
down €3,833 (-52.5%), from €7,306 to €3,473
of which Taxes: -€1,973
- Financial income -€20,000
down €20,000 (-100%), from €20,000 to €0
- Depreciation -€15,227
down €15,227 (-87.8%), from €17,343 to €2,116
- Gross operating margin -€3,309
down €3,309 (-40.0%), from €8,265 to €4,957
- Financial charges -€968
down €968 (-40.5%), from €2,387 to €1,419
- Other operating charges -€758
down €758 (-71.8%), from €1,056 to €298
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 | €176,944 | €159,598 | -€17,345 | -9.8% |
| Fixed assets | 21/28 | €123,493 | €94,715 | -€28,778 | -23.3% |
| Tangible fixed assets | 22/27 | €38,069 | €9,291 | -€28,778 | -75.6% |
| Land and buildings | 22 | €10,843 | €9,070 | -€1,773 | -16.3% |
| Furniture and vehicles | 24 | €27,226 | €221 | -€27,005 | -99.2% |
| Financial fixed assets | 28 | €85,424 | €85,424 | = | 0.0% |
| Current assets | 29/58 | €53,451 | €64,883 | +€11,433 | +21.4% |
| Amounts receivable within one year | 40/41 | €1,491 | €2,200 | +€709 | +47.5% |
| Trade receivables | 40 | €0 | €2,200 | +€2,200 | |
| Other amounts receivable | 41 | €1,491 | €0 | -€1,491 | -100% |
| Cash at bank and in hand | 54/58 | €48,932 | €60,763 | +€11,831 | +24.2% |
| Deferred charges and accrued income | 490/1 | €3,027 | €1,920 | -€1,107 | -36.6% |
| Total equity and liabilities | 10/49 | €176,944 | €159,598 | -€17,345 | -9.8% |
| Equity | 10/15 | €126,457 | €127,260 | +€803 | +0.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €120,257 | €121,060 | +€803 | +0.7% |
| Distributable reserves | 133 | €120,257 | €121,060 | +€803 | +0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,486 | €32,338 | -€18,148 | -35.9% |
| Amounts payable after more than one year | 17 | €24,982 | €16,995 | -€7,986 | -32.0% |
| Financial debts | 170/4 | €24,982 | €16,995 | -€7,986 | -32.0% |
| Amounts payable within one year | 42/48 | €25,505 | €15,343 | -€10,162 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €13,963 | €7,986 | -€5,976 | -42.8% |
| Trade debts | 44 | €1,807 | €2,523 | +€716 | +39.6% |
| Suppliers | 440/4 | €1,807 | €2,523 | +€716 | +39.6% |
| Taxes, remuneration and social security | 45 | €7,306 | €3,473 | -€3,833 | -52.5% |
| Taxes | 450/3 | €5,446 | €3,473 | -€1,973 | -36.2% |
| Remuneration and social security | 454/9 | €1,860 | €0 | -€1,860 | -100% |
| Other amounts payable | 47/48 | €2,429 | €1,360 | -€1,069 | -44.0% |
| Non-recurring operating income | 76A | - | €35,816 | +€35,816 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,343 | €2,116 | -€15,227 | -87.8% |
| Other operating charges | 640/8 | €1,056 | €298 | -€758 | -71.8% |
| Gross operating margin | 9900 | €8,265 | €4,957 | -€3,309 | -40.0% |
| Operating profit (loss) | 9901 | -€10,134 | €2,543 | +€12,677 | |
| Financial income | 75/76B | €20,000 | €0 | -€20,000 | -100% |
| Recurring financial income | 75 | €20,000 | €0 | -€20,000 | -100% |
| Financial charges | 65/66B | €2,387 | €1,419 | -€968 | -40.5% |
| Recurring financial charges | 65 | €2,387 | €1,419 | -€968 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €7,479 | €1,124 | -€6,355 | -85.0% |
| Income taxes | 67/77 | €1,009 | €321 | -€687 | -68.2% |
| Profit (loss) for the period | 9904 | €6,471 | €803 | -€5,668 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,471 | €803 | -€5,668 | -87.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.