FERROMAC GROUP: 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.
What changed
FERROMAC GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€135,430
2024 · €1.4m-€1.6m
Equity
€9.9m
2024 · €10.0m-€135,430
Cash
€47,552
2024 · €83,479-€35,927
Balance sheet total
€14.1m
2024 · €13.5m+€563,583
Largest movements
Assets
- Tangible fixed assets +€693,932
up €693,932 (+51.3%), from €1.4m to €2.0m
of which Land and buildings: +€673,204
Equity and liabilities
- Debts after one year +€401,978
up €401,978 (+12.7%), from €3.2m to €3.6m
- Other debts +€163,956
up €163,956 (+381%), from €43,007 to €206,963
Income statement
- Financial income -€1.4m
down €1.4m (-100.0%), from €1.4m to €0
- Financial charges +€104,306
up €104,306 (+7,724%), from €1,350 to €105,657
of which Non-recurring financial charges: +€95,820
- Gross operating margin +€103,152
up €103,152 (+18.1%), from €570,768 to €673,920
- Staff costs +€76,687
up €76,687 (+20.3%), from €376,916 to €453,603
- Depreciation +€40,537
up €40,537 (+37.8%), from €107,142 to €147,679
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.
Result 2024
€1.4m
Gross operating margin
+€103,152
Staff costs
-€76,687
Depreciation
-€40,537
Other operating charges
-€510
Other operating items
-€78,288
Financial income
-€1.4m
Financial charges
-€104,306
Taxes
+€17,619
Result 2025
-€135,430
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€221,163
Investment
-€741,611
Financing
+€484,522
Cash 2024
€83,479
From operations (derived)
+€221,163
Net result for the year
-€135,430
Depreciation
+€147,679
Receivables after one year
+€103,288
Receivables within one year
-€126,350
Deferred charges and accrued income
+€17,486
Trade debts
+€158
Tax, wage and social debts
+€50,378
Other debts
+€163,956
Investment (derived)
-€741,611
Investment in fixed assets (net)
-€741,611
Financing
+€484,522
Debts after one year
+€401,978
Current portion of long-term debt
+€81,916
Short-term financial debts
+€627
Contributions, distributions and other
-€0
Cash 2025
€47,552
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,509,662 | €14,073,245 | +€563,583 | +4.2% |
| Fixed assets | 21/28 | €12,855,005 | €13,448,937 | +€593,932 | +4.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,352,900 | €2,046,833 | +€693,932 | +51.3% |
| Land and buildings | 22 | €1,170,281 | €1,843,485 | +€673,204 | +57.5% |
| Furniture and vehicles | 24 | €106,830 | €133,588 | +€26,758 | +25.0% |
| Other tangible fixed assets | 26 | €75,789 | €69,759 | -€6,030 | -8.0% |
| Financial fixed assets | 28 | €11,502,105 | €11,402,105 | -€100,000 | -0.9% |
| Current assets | 29/58 | €654,657 | €624,308 | -€30,350 | -4.6% |
| Amounts receivable after more than one year | 29 | €304,604 | €201,317 | -€103,288 | -33.9% |
| Other amounts receivable | 291 | €304,604 | €201,317 | -€103,288 | -33.9% |
| Amounts receivable within one year | 40/41 | €194,867 | €321,218 | +€126,350 | +64.8% |
| Trade receivables | 40 | €176 | €4,191 | +€4,015 | +2,276% |
| Other amounts receivable | 41 | €194,691 | €317,027 | +€122,336 | +62.8% |
| Cash at bank and in hand | 54/58 | €83,479 | €47,552 | -€35,927 | -43.0% |
| Deferred charges and accrued income | 490/1 | €71,707 | €54,221 | -€17,486 | -24.4% |
| Total equity and liabilities | 10/49 | €13,509,662 | €14,073,245 | +€563,583 | +4.2% |
| Equity | 10/15 | €10,033,238 | €9,897,808 | -€135,430 | -1.3% |
| Contributions | 10/11 | €5,587,303 | €5,587,303 | = | 0.0% |
| Reserves | 13 | €99,931 | €99,931 | = | 0.0% |
| Distributable reserves | 133 | €99,931 | €99,931 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,346,004 | €4,210,574 | -€135,430 | -3.1% |
| Amounts payable | 17/49 | €3,476,425 | €4,175,437 | +€699,013 | +20.1% |
| Amounts payable after more than one year | 17 | €3,154,459 | €3,556,437 | +€401,978 | +12.7% |
| Financial debts | 170/4 | €3,154,459 | €3,556,437 | +€401,978 | +12.7% |
| Amounts payable within one year | 42/48 | €321,966 | €619,000 | +€297,035 | +92.3% |
| Current portion of amounts payable after more than one year | 42 | €76,513 | €158,429 | +€81,916 | +107% |
| Financial debts | 43 | €7,402 | €8,029 | +€627 | +8.5% |
| Credit institutions | 430/8 | €7,402 | €8,029 | +€627 | +8.5% |
| Trade debts | 44 | €61,294 | €61,451 | +€158 | +0.3% |
| Suppliers | 440/4 | €61,294 | €61,451 | +€158 | +0.3% |
| Taxes, remuneration and social security | 45 | €133,750 | €184,128 | +€50,378 | +37.7% |
| Taxes | 450/3 | €49,125 | €75,633 | +€26,508 | +54.0% |
| Remuneration and social security | 454/9 | €84,625 | €108,495 | +€23,870 | +28.2% |
| Other amounts payable | 47/48 | €43,007 | €206,963 | +€163,956 | +381% |
| Remuneration, social security and pensions | 62 | €376,916 | €453,603 | +€76,687 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,142 | €147,679 | +€40,537 | +37.8% |
| Other operating charges | 640/8 | €23,613 | €24,124 | +€510 | +2.2% |
| Non-recurring operating charges | 66A | - | €78,288 | +€78,288 | |
| Gross operating margin | 9900 | €570,768 | €673,920 | +€103,152 | +18.1% |
| Operating profit (loss) | 9901 | €63,097 | -€29,773 | -€92,870 | |
| Financial income | 75/76B | €1,400,005 | €0 | -€1.4m | -100.0% |
| Recurring financial income | 75 | €1,400,005 | €0 | -€1.4m | -100.0% |
| Financial charges | 65/66B | €1,350 | €105,657 | +€104,306 | +7,724% |
| Recurring financial charges | 65 | €1,350 | €9,837 | +€8,486 | +628% |
| Non-recurring financial charges | 66B | - | €95,820 | +€95,820 | |
| Profit (loss) for the period before taxes | 9903 | €1,461,751 | -€135,430 | -€1.6m | |
| Income taxes | 67/77 | €17,619 | - | -€17,619 | |
| Profit (loss) for the period | 9904 | €1,444,132 | -€135,430 | -€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,444,132 | -€135,430 | -€1.6m |
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 22 October 2026 via checked.be.