FERS B.R. IMMO: 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.
FERS B.R. IMMO
Largest movements
- Tangible fixed assets -€107,515
down €107,515 (-5.9%), from €1.8m to €1.7m
of which Plant, machinery and equipment: -€60,194
- Cash -€21,930
down €21,930 (-39.6%), from €55,402 to €33,472
mainly Trade debts (-€98,701) and Other debts (-€98,339)
- Trade debts -€98,701
down €98,701 (-84.2%), from €117,272 to €18,571
- Other debts -€98,339
down €98,339 (-36.0%), from €272,841 to €174,502
- Reserves +€59,112
up €59,112 (+6.1%), from €969,309 to €1.0m
of which Distributable reserves: +€61,232
- Gross operating margin +€35,138
up €35,138 (+14.6%), from €240,580 to €275,718
- Taxes +€11,844
up €11,844 (+68.4%), from €17,309 to €29,153
- Depreciation -€10,075
down €10,075 (-6.4%), from €156,399 to €146,324
- Other operating charges +€6,363
up €6,363 (+34.3%), from €18,576 to €24,940
- Staff costs +€3,421
new in 2025: €3,421
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 | €1,886,854 | €1,750,679 | -€136,175 | -7.2% |
| Fixed assets | 21/28 | €1,816,092 | €1,708,577 | -€107,515 | -5.9% |
| Tangible fixed assets | 22/27 | €1,816,092 | €1,708,577 | -€107,515 | -5.9% |
| Land and buildings | 22 | €1,183,675 | €1,136,354 | -€47,321 | -4.0% |
| Plant, machinery and equipment | 23 | €632,416 | €572,223 | -€60,194 | -9.5% |
| Current assets | 29/58 | €70,762 | €42,103 | -€28,660 | -40.5% |
| Amounts receivable within one year | 40/41 | €7,691 | €0 | -€7,691 | -100.0% |
| Other amounts receivable | 41 | €7,691 | €0 | -€7,691 | -100.0% |
| Cash at bank and in hand | 54/58 | €55,402 | €33,472 | -€21,930 | -39.6% |
| Deferred charges and accrued income | 490/1 | €7,670 | €8,631 | +€961 | +12.5% |
| Total equity and liabilities | 10/49 | €1,886,854 | €1,750,679 | -€136,175 | -7.2% |
| Equity | 10/15 | €1,469,309 | €1,528,421 | +€59,112 | +4.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €969,309 | €1,028,421 | +€59,112 | +6.1% |
| Tax-exempt reserves | 132 | €38,862 | €36,742 | -€2,120 | -5.5% |
| Distributable reserves | 133 | €930,447 | €991,679 | +€61,232 | +6.6% |
| Provisions and deferred taxes | 16 | €20,011 | €18,919 | -€1,092 | -5.5% |
| Deferred taxes | 168 | €20,011 | €18,919 | -€1,092 | -5.5% |
| Amounts payable | 17/49 | €397,534 | €203,339 | -€194,195 | -48.8% |
| Amounts payable within one year | 42/48 | €397,534 | €203,339 | -€194,195 | -48.8% |
| Current portion of amounts payable after more than one year | 42 | €2,485 | €1,360 | -€1,125 | -45.3% |
| Trade debts | 44 | €117,272 | €18,571 | -€98,701 | -84.2% |
| Suppliers | 440/4 | €117,272 | €18,571 | -€98,701 | -84.2% |
| Taxes, remuneration and social security | 45 | €4,936 | €8,906 | +€3,969 | +80.4% |
| Taxes | 450/3 | €4,936 | €8,906 | +€3,969 | +80.4% |
| Other amounts payable | 47/48 | €272,841 | €174,502 | -€98,339 | -36.0% |
| Remuneration, social security and pensions | 62 | - | €3,421 | +€3,421 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,399 | €146,324 | -€10,075 | -6.4% |
| Other operating charges | 640/8 | €18,576 | €24,940 | +€6,363 | +34.3% |
| Gross operating margin | 9900 | €240,580 | €275,718 | +€35,138 | +14.6% |
| Operating profit (loss) | 9901 | €65,605 | €101,034 | +€35,429 | +54.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -33.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -33.3% |
| Financial charges | 65/66B | €14,417 | €13,861 | -€555 | -3.9% |
| Recurring financial charges | 65 | €14,417 | €13,861 | -€555 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €51,189 | €87,173 | +€35,985 | +70.3% |
| Transfer from deferred taxes | 780 | €1,092 | €1,092 | = | 0.0% |
| Income taxes | 67/77 | €17,309 | €29,153 | +€11,844 | +68.4% |
| Profit (loss) for the period | 9904 | €34,971 | €59,112 | +€24,141 | +69.0% |
| Transfer from tax-exempt reserves | 789 | €2,120 | €2,120 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,091 | €61,232 | +€24,141 | +65.1% |
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 21 October 2026 via checked.be.