FERSINI: 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.
FERSINI
Largest movements
- Current investments +€69,751
up €69,751 (+167.0%), from €41,762 to €111,513
- Cash -€45,705
down €45,705 (-78.3%), from €58,345 to €12,640
mainly Current investments (-€69,751) and Contributions, distributions and other (-€14,999)
- Receivables within one year -€25,881
down €25,881 (-54.6%), from €47,407 to €21,526
of which Trade receivables: -€32,362
- Tangible fixed assets +€7,956
up €7,956 (+208.9%), from €3,809 to €11,765
of which Furniture and vehicles: +€8,090
- Reserves +€10,000
up €10,000 (+25.0%), from €40,000 to €50,000
- Profit (loss) carried forward +€5,845
up €5,845 (+9.7%), from €60,389 to €66,234
- Other debts -€4,393
down €4,393 (-17.7%), from €24,850 to €20,457
- Debts after one year -€3,708
down €3,708 (-80.9%), from €4,582 to €874
- Tax, wage and social debts -€2,687
down €2,687 (-15.0%), from €17,858 to €15,171
- Gross operating margin -€8,080
down €8,080 (-13.0%), from €62,374 to €54,294
- Taxes -€3,286
down €3,286 (-19.6%), from €16,805 to €13,519
- Depreciation +€2,624
up €2,624 (+69.5%), from €3,773 to €6,397
- Financial charges +€2,095
up €2,095 (+468.7%), from €447 to €2,542
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 | €151,323 | €157,444 | +€6,121 | +4.0% |
| Fixed assets | 21/28 | €3,809 | €11,765 | +€7,956 | +208.9% |
| Tangible fixed assets | 22/27 | €3,809 | €11,765 | +€7,956 | +208.9% |
| Plant, machinery and equipment | 23 | €835 | €701 | -€134 | -16.0% |
| Furniture and vehicles | 24 | €2,974 | €11,064 | +€8,090 | +272.0% |
| Current assets | 29/58 | €147,514 | €145,679 | -€1,835 | -1.2% |
| Amounts receivable within one year | 40/41 | €47,407 | €21,526 | -€25,881 | -54.6% |
| Trade receivables | 40 | €47,407 | €15,045 | -€32,362 | -68.3% |
| Other amounts receivable | 41 | - | €6,481 | +€6,481 | |
| Current investments | 50/53 | €41,762 | €111,513 | +€69,751 | +167.0% |
| Cash at bank and in hand | 54/58 | €58,345 | €12,640 | -€45,705 | -78.3% |
| Total equity and liabilities | 10/49 | €151,323 | €157,444 | +€6,121 | +4.0% |
| Equity | 10/15 | €101,389 | €117,234 | +€15,845 | +15.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Distributable reserves | 133 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Profit (loss) carried forward | 14 | €60,389 | €66,234 | +€5,845 | +9.7% |
| Amounts payable | 17/49 | €49,934 | €40,210 | -€9,724 | -19.5% |
| Amounts payable after more than one year | 17 | €4,582 | €874 | -€3,708 | -80.9% |
| Financial debts | 170/4 | €4,582 | €874 | -€3,708 | -80.9% |
| Amounts payable within one year | 42/48 | €45,352 | €39,336 | -€6,016 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €2,644 | €3,708 | +€1,064 | +40.2% |
| Taxes, remuneration and social security | 45 | €17,858 | €15,171 | -€2,687 | -15.0% |
| Taxes | 450/3 | €17,858 | €15,171 | -€2,687 | -15.0% |
| Other amounts payable | 47/48 | €24,850 | €20,457 | -€4,393 | -17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,773 | €6,397 | +€2,624 | +69.5% |
| Other operating charges | 640/8 | €799 | €1,401 | +€602 | +75.3% |
| Gross operating margin | 9900 | €62,374 | €54,294 | -€8,080 | -13.0% |
| Operating profit (loss) | 9901 | €57,802 | €46,496 | -€11,306 | -19.6% |
| Financial income | 75/76B | - | €409 | +€409 | |
| Recurring financial income | 75 | - | €409 | +€409 | |
| Financial charges | 65/66B | €447 | €2,542 | +€2,095 | +468.7% |
| Recurring financial charges | 65 | €447 | €2,542 | +€2,095 | +468.7% |
| Profit (loss) for the period before taxes | 9903 | €57,355 | €44,363 | -€12,992 | -22.7% |
| Income taxes | 67/77 | €16,805 | €13,519 | -€3,286 | -19.6% |
| Profit (loss) for the period | 9904 | €40,550 | €30,844 | -€9,706 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,550 | €30,844 | -€9,706 | -23.9% |
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 3 October 2026 via checked.be.