FERREM: 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.
FERREM
Largest movements
- Cash -€33,790
down €33,790 (-47.9%), from €70,567 to €36,777
mainly Other debts (-€33,438) and Receivables within one year (-€16,297)
- Receivables within one year +€16,297
up €16,297 (+260.3%), from €6,262 to €22,559
- Tangible fixed assets -€4,673
down €4,673 (-100.0%), from €4,673 to €0
of which Leasing and similar rights: -€4,673
- Other debts -€33,438
down €33,438 (-91.7%), from €36,467 to €3,029
- Reserves +€20,634
up €20,634 (+56.6%), from €36,479 to €57,113
- Tax, wage and social debts -€9,830
down €9,830 (-41.1%), from €23,924 to €14,094
of which Taxes: -€10,230
- Gross operating margin -€11,758
down €11,758 (-31.1%), from €37,830 to €26,072
- Depreciation -€4,468
down €4,468 (-100.0%), from €4,468 to €0
- Financial income +€4,317
up €4,317 (+10792525.0%), from €0 to €4,317
of which Non-recurring financial income: +€4,304
- Financial charges +€1,869
up €1,869 (+620.6%), from €301 to €2,170
- Taxes -€1,632
down €1,632 (-20.6%), from €7,923 to €6,291
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 | €101,218 | €78,605 | -€22,613 | -22.3% |
| Fixed assets | 21/28 | €4,673 | €0 | -€4,673 | -100.0% |
| Tangible fixed assets | 22/27 | €4,673 | €0 | -€4,673 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Leasing and similar rights | 25 | €4,673 | €0 | -€4,673 | -100.0% |
| Current assets | 29/58 | €96,545 | €78,605 | -€17,940 | -18.6% |
| Stocks and contracts in progress | 3 | €18,312 | €18,255 | -€57 | -0.3% |
| Stocks | 30/36 | €18,312 | €18,255 | -€57 | -0.3% |
| Amounts receivable within one year | 40/41 | €6,262 | €22,559 | +€16,297 | +260.3% |
| Trade receivables | 40 | €6,262 | €22,559 | +€16,297 | +260.3% |
| Cash at bank and in hand | 54/58 | €70,567 | €36,777 | -€33,790 | -47.9% |
| Deferred charges and accrued income | 490/1 | €1,404 | €1,014 | -€390 | -27.8% |
| Total equity and liabilities | 10/49 | €101,218 | €78,605 | -€22,613 | -22.3% |
| Equity | 10/15 | €39,479 | €60,113 | +€20,634 | +52.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,479 | €57,113 | +€20,634 | +56.6% |
| Distributable reserves | 133 | €36,479 | €57,113 | +€20,634 | +56.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,739 | €18,492 | -€43,247 | -70.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €61,626 | €18,399 | -€43,227 | -70.1% |
| Current portion of amounts payable after more than one year | 42 | €474 | €0 | -€474 | -100.0% |
| Trade debts | 44 | €760 | €1,275 | +€515 | +67.8% |
| Suppliers | 440/4 | €760 | €1,275 | +€515 | +67.8% |
| Taxes, remuneration and social security | 45 | €23,924 | €14,094 | -€9,830 | -41.1% |
| Taxes | 450/3 | €21,874 | €11,644 | -€10,230 | -46.8% |
| Remuneration and social security | 454/9 | €2,050 | €2,450 | +€400 | +19.5% |
| Other amounts payable | 47/48 | €36,467 | €3,029 | -€33,438 | -91.7% |
| Accrued charges and deferred income | 492/3 | €113 | €93 | -€20 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,468 | €0 | -€4,468 | -100.0% |
| Other operating charges | 640/8 | €182 | €1,294 | +€1,112 | +611.9% |
| Gross operating margin | 9900 | €37,830 | €26,072 | -€11,758 | -31.1% |
| Operating profit (loss) | 9901 | €33,180 | €24,778 | -€8,402 | -25.3% |
| Financial income | 75/76B | €0 | €4,317 | +€4,317 | +10792525.0% |
| Recurring financial income | 75 | €0 | €13 | +€13 | +31650.0% |
| Non-recurring financial income | 76B | - | €4,304 | +€4,304 | |
| Financial charges | 65/66B | €301 | €2,170 | +€1,869 | +620.6% |
| Recurring financial charges | 65 | €301 | €2,170 | +€1,869 | +620.6% |
| Profit (loss) for the period before taxes | 9903 | €32,879 | €26,925 | -€5,954 | -18.1% |
| Income taxes | 67/77 | €7,923 | €6,291 | -€1,632 | -20.6% |
| Profit (loss) for the period | 9904 | €24,956 | €20,634 | -€4,322 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,956 | €20,634 | -€4,322 | -17.3% |
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 6 October 2026 via checked.be.