FERRO: 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.
FERRO
Largest movements
- Cash +€39,510
up €39,510 (+51.9%), from €76,193 to €115,703
mainly Depreciation (+€72,690) and Net result for the year (+€55,913)
- Tangible fixed assets -€19,293
down €19,293 (-2.7%), from €709,989 to €690,696
of which Furniture and vehicles: -€37,999
- Deferred charges and accrued income +€13,372
up €13,372 (+467.2%), from €2,862 to €16,235
- Reserves +€55,913
up €55,913 (+10.8%), from €518,270 to €574,182
- Debts after one year -€13,411
down €13,411 (-13.3%), from €100,946 to €87,535
- Current portion of long-term debt -€9,156
down €9,156 (-40.6%), from €22,568 to €13,411
- Gross operating margin +€21,450
up €21,450 (+6.7%), from €320,133 to €341,583
- Financial charges -€12,258
down €12,258 (-57.3%), from €21,401 to €9,143
- Staff costs -€3,606
down €3,606 (-2.1%), from €169,136 to €165,530
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 | €801,420 | €834,762 | +€33,343 | +4.2% |
| Fixed assets | 21/28 | €710,239 | €690,946 | -€19,293 | -2.7% |
| Tangible fixed assets | 22/27 | €709,989 | €690,696 | -€19,293 | -2.7% |
| Land and buildings | 22 | €532,042 | €511,124 | -€20,918 | -3.9% |
| Plant, machinery and equipment | 23 | €118,189 | €157,814 | +€39,625 | +33.5% |
| Furniture and vehicles | 24 | €59,758 | €21,758 | -€37,999 | -63.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €91,181 | €143,817 | +€52,636 | +57.7% |
| Stocks and contracts in progress | 3 | €8,091 | €7,090 | -€1,001 | -12.4% |
| Stocks | 30/36 | €8,091 | €7,090 | -€1,001 | -12.4% |
| Amounts receivable within one year | 40/41 | €4,035 | €4,789 | +€755 | +18.7% |
| Trade receivables | 40 | €4,023 | €4,178 | +€155 | +3.8% |
| Other amounts receivable | 41 | €12 | €612 | +€600 | +5181.3% |
| Cash at bank and in hand | 54/58 | €76,193 | €115,703 | +€39,510 | +51.9% |
| Deferred charges and accrued income | 490/1 | €2,862 | €16,235 | +€13,372 | +467.2% |
| Total equity and liabilities | 10/49 | €801,420 | €834,762 | +€33,343 | +4.2% |
| Equity | 10/15 | €525,715 | €581,627 | +€55,913 | +10.6% |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €518,270 | €574,182 | +€55,913 | +10.8% |
| Distributable reserves | 133 | €518,270 | €574,182 | +€55,913 | +10.8% |
| Amounts payable | 17/49 | €275,705 | €253,135 | -€22,570 | -8.2% |
| Amounts payable after more than one year | 17 | €100,946 | €87,535 | -€13,411 | -13.3% |
| Financial debts | 170/4 | €100,946 | €87,535 | -€13,411 | -13.3% |
| Amounts payable within one year | 42/48 | €174,759 | €165,601 | -€9,158 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €22,568 | €13,411 | -€9,156 | -40.6% |
| Trade debts | 44 | €9,379 | €3,086 | -€6,293 | -67.1% |
| Suppliers | 440/4 | €9,379 | €3,086 | -€6,293 | -67.1% |
| Taxes, remuneration and social security | 45 | €8,509 | €16,161 | +€7,652 | +89.9% |
| Taxes | 450/3 | €7,113 | €15,873 | +€8,760 | +123.1% |
| Remuneration and social security | 454/9 | €1,395 | €288 | -€1,107 | -79.4% |
| Other amounts payable | 47/48 | €134,303 | €132,942 | -€1,361 | -1.0% |
| Remuneration, social security and pensions | 62 | €169,136 | €165,530 | -€3,606 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,481 | €72,690 | +€1,210 | +1.7% |
| Other operating charges | 640/8 | €4,969 | €5,396 | +€427 | +8.6% |
| Non-recurring operating charges | 66A | - | €13,141 | +€13,141 | |
| Gross operating margin | 9900 | €320,133 | €341,583 | +€21,450 | +6.7% |
| Operating profit (loss) | 9901 | €74,548 | €84,826 | +€10,278 | +13.8% |
| Financial income | 75/76B | €1,674 | €519 | -€1,155 | -69.0% |
| Recurring financial income | 75 | €1,517 | €519 | -€998 | -65.8% |
| Non-recurring financial income | 76B | €157 | - | -€157 | |
| Financial charges | 65/66B | €21,401 | €9,143 | -€12,258 | -57.3% |
| Recurring financial charges | 65 | €21,401 | €9,143 | -€12,258 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €54,821 | €76,202 | +€21,381 | +39.0% |
| Income taxes | 67/77 | €17,038 | €20,289 | +€3,251 | +19.1% |
| Profit (loss) for the period | 9904 | €37,783 | €55,913 | +€18,129 | +48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,783 | €55,913 | +€18,129 | +48.0% |
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.