Fersi: 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.
Fersi
Largest movements
- Current investments +€108,509
up €108,509 (+22.9%), from €474,401 to €582,910
- Deferred charges and accrued income -€100,527
down €100,527 (-83.7%), from €120,035 to €19,508
- Receivables within one year +€53,500
up €53,500 (+39.5%), from €135,500 to €189,000
- Cash +€36,121
up €36,121 (+175.7%), from €20,558 to €56,679
mainly Net result for the year (+€143,512) and Deferred charges and accrued income (+€100,527)
- Tangible fixed assets -€29,579
down €29,579 (-29.2%), from €101,379 to €71,800
- Reserves +€105,709
up €105,709 (+16.9%), from €625,257 to €730,967
- Tax, wage and social debts -€38,253
down €38,253 (-89.3%), from €42,824 to €4,571
- Gross operating margin -€98,769
down €98,769 (-36.0%), from €274,544 to €175,775
- Financial income +€40,663
up €40,663 (+136.5%), from €29,787 to €70,451
- Taxes -€20,347
down €20,347 (-24.4%), from €83,307 to €62,959
- Financial charges +€6,386
up €6,386 (+479.5%), from €1,332 to €7,718
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 | €851,872 | €919,896 | +€68,024 | +8.0% |
| Fixed assets | 21/28 | €101,379 | €71,800 | -€29,579 | -29.2% |
| Tangible fixed assets | 22/27 | €101,379 | €71,800 | -€29,579 | -29.2% |
| Land and buildings | 22 | €10,274 | €6,953 | -€3,321 | -32.3% |
| Plant, machinery and equipment | 23 | €4,954 | €2,992 | -€1,962 | -39.6% |
| Furniture and vehicles | 24 | €45,069 | €34,054 | -€11,015 | -24.4% |
| Other tangible fixed assets | 26 | €41,081 | €27,801 | -€13,280 | -32.3% |
| Current assets | 29/58 | €750,493 | €848,096 | +€97,603 | +13.0% |
| Amounts receivable within one year | 40/41 | €135,500 | €189,000 | +€53,500 | +39.5% |
| Other amounts receivable | 41 | €135,500 | €189,000 | +€53,500 | +39.5% |
| Current investments | 50/53 | €474,401 | €582,910 | +€108,509 | +22.9% |
| Cash at bank and in hand | 54/58 | €20,558 | €56,679 | +€36,121 | +175.7% |
| Deferred charges and accrued income | 490/1 | €120,035 | €19,508 | -€100,527 | -83.7% |
| Total equity and liabilities | 10/49 | €851,872 | €919,896 | +€68,024 | +8.0% |
| Equity | 10/15 | €639,632 | €745,342 | +€105,709 | +16.5% |
| Contributions | 10/11 | €14,375 | €14,375 | = | 0.0% |
| Reserves | 13 | €625,257 | €730,967 | +€105,709 | +16.9% |
| Distributable reserves | 133 | €625,257 | €730,967 | +€105,709 | +16.9% |
| Provisions and deferred taxes | 16 | €159,940 | €159,940 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €159,940 | €159,940 | = | 0.0% |
| Pensions and similar obligations | 160 | €159,940 | €159,940 | = | 0.0% |
| Amounts payable | 17/49 | €52,300 | €14,615 | -€37,685 | -72.1% |
| Amounts payable within one year | 42/48 | €52,300 | €14,615 | -€37,685 | -72.1% |
| Trade debts | 44 | €7,404 | €7,153 | -€251 | -3.4% |
| Suppliers | 440/4 | €7,404 | €7,153 | -€251 | -3.4% |
| Taxes, remuneration and social security | 45 | €42,824 | €4,571 | -€38,253 | -89.3% |
| Taxes | 450/3 | €42,824 | €4,571 | -€38,253 | -89.3% |
| Other amounts payable | 47/48 | €2,073 | €2,891 | +€819 | +39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,474 | €29,579 | +€105 | +0.4% |
| Other operating charges | 640/8 | €2,406 | €2,457 | +€51 | +2.1% |
| Gross operating margin | 9900 | €274,544 | €175,775 | -€98,769 | -36.0% |
| Operating profit (loss) | 9901 | €242,664 | €143,739 | -€98,925 | -40.8% |
| Financial income | 75/76B | €29,787 | €70,451 | +€40,663 | +136.5% |
| Recurring financial income | 75 | €29,787 | €70,451 | +€40,663 | +136.5% |
| Financial charges | 65/66B | €1,332 | €7,718 | +€6,386 | +479.5% |
| Recurring financial charges | 65 | €1,332 | €7,718 | +€6,386 | +479.5% |
| Profit (loss) for the period before taxes | 9903 | €271,119 | €206,472 | -€64,648 | -23.8% |
| Income taxes | 67/77 | €83,307 | €62,959 | -€20,347 | -24.4% |
| Profit (loss) for the period | 9904 | €187,813 | €143,512 | -€44,301 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €187,813 | €143,512 | -€44,301 | -23.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.