Ferraz: 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.
Ferraz
Largest movements
- Tangible fixed assets +€96,394
up €96,394 (+32.7%), from €295,232 to €391,626
of which Land and buildings: +€104,325
- Cash -€50,572
down €50,572 (-57.3%), from €88,334 to €37,762
mainly Investment in fixed assets (net) (-€127,964) and Debts after one year (-€21,674)
- Deferred charges and accrued income +€8,560
up €8,560 (+265.5%), from €3,225 to €11,785
- Other debts +€107,171
up €107,171 (+358.6%), from €29,883 to €137,054
- Reserves -€23,644
down €23,644 (-9.4%), from €252,705 to €229,061
of which Distributable reserves: -€23,644
- Debts after one year -€21,674
down €21,674 (-35.2%), from €61,521 to €39,846
of which Financial debts: -€21,674
- Gross operating margin -€15,584
down €15,584 (-24.6%), from €63,366 to €47,782
- Other operating charges +€11,590
up €11,590 (+437.5%), from €2,649 to €14,239
- Taxes -€7,537
down €7,537 (-90.6%), from €8,319 to €782
- Depreciation +€2,609
up €2,609 (+9.0%), from €28,962 to €31,570
- Financial charges +€1,117
up €1,117 (+36.5%), from €3,061 to €4,178
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 | €389,184 | €447,814 | +€58,630 | +15.1% |
| Fixed assets | 21/28 | €295,232 | €391,626 | +€96,394 | +32.7% |
| Tangible fixed assets | 22/27 | €295,232 | €391,626 | +€96,394 | +32.7% |
| Land and buildings | 22 | €266,309 | €370,634 | +€104,325 | +39.2% |
| Plant, machinery and equipment | 23 | €670 | €0 | -€670 | -100.0% |
| Furniture and vehicles | 24 | €28,254 | €20,992 | -€7,262 | -25.7% |
| Current assets | 29/58 | €93,952 | €56,188 | -€37,763 | -40.2% |
| Amounts receivable within one year | 40/41 | €2,393 | €6,642 | +€4,249 | +177.6% |
| Trade receivables | 40 | €84 | €40 | -€44 | -52.1% |
| Other amounts receivable | 41 | €2,309 | €6,602 | +€4,292 | +185.9% |
| Cash at bank and in hand | 54/58 | €88,334 | €37,762 | -€50,572 | -57.3% |
| Deferred charges and accrued income | 490/1 | €3,225 | €11,785 | +€8,560 | +265.5% |
| Total equity and liabilities | 10/49 | €389,184 | €447,814 | +€58,630 | +15.1% |
| Equity | 10/15 | €271,305 | €247,661 | -€23,644 | -8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €252,705 | €229,061 | -€23,644 | -9.4% |
| 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 | €250,845 | €227,201 | -€23,644 | -9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €117,879 | €200,153 | +€82,274 | +69.8% |
| Amounts payable after more than one year | 17 | €61,521 | €39,846 | -€21,674 | -35.2% |
| Financial debts | 170/4 | €59,221 | €37,546 | -€21,674 | -36.6% |
| Other amounts payable | 178/9 | €2,300 | €2,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,971 | €160,307 | +€104,335 | +186.4% |
| Current portion of amounts payable after more than one year | 42 | €21,493 | €21,674 | +€181 | +0.8% |
| Trade debts | 44 | €30 | €30 | +€1 | +2.3% |
| Suppliers | 440/4 | €30 | €30 | +€1 | +2.3% |
| Taxes, remuneration and social security | 45 | €4,565 | €1,548 | -€3,017 | -66.1% |
| Taxes | 450/3 | €4,565 | €1,548 | -€3,017 | -66.1% |
| Other amounts payable | 47/48 | €29,883 | €137,054 | +€107,171 | +358.6% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,962 | €31,570 | +€2,609 | +9.0% |
| Other operating charges | 640/8 | €2,649 | €14,239 | +€11,590 | +437.5% |
| Gross operating margin | 9900 | €63,366 | €47,782 | -€15,584 | -24.6% |
| Operating profit (loss) | 9901 | €31,755 | €1,973 | -€29,782 | -93.8% |
| Financial income | 75/76B | €427 | €364 | -€63 | -14.8% |
| Recurring financial income | 75 | €427 | €364 | -€63 | -14.8% |
| Financial charges | 65/66B | €3,061 | €4,178 | +€1,117 | +36.5% |
| Recurring financial charges | 65 | €3,061 | €4,178 | +€1,117 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €29,121 | -€1,842 | -€30,963 | |
| Income taxes | 67/77 | €8,319 | €782 | -€7,537 | -90.6% |
| Profit (loss) for the period | 9904 | €20,802 | -€2,624 | -€23,426 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,802 | -€2,624 | -€23,426 |
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 12 October 2026 via checked.be.