FERTRANS: 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.
FERTRANS
Largest movements
- Receivables within one year +€18,137
up €18,137 (+386%), from €4,698 to €22,835
of which Trade receivables: +€21,562
- Tangible fixed assets -€14,831
down €14,831 (-1.9%), from €775,349 to €760,518
of which Furniture and vehicles: -€18,332
- Cash -€10,489
down €10,489 (-61.1%), from €17,158 to €6,669
mainly Net result for the year (-€69,923) and Investment in fixed assets (net) (-€49,100)
- Profit (loss) carried forward -€69,923
down €69,923 (-11.7%), from €599,803 to €529,880
- Other debts +€34,120
new in 2025: €34,120
- Trade debts +€24,801
up €24,801 (+640%), from €3,877 to €28,678
- Gross operating margin -€7,484
down €7,484 (-17.0%), from €43,962 to €36,478
- Other operating charges -€3,637
down €3,637 (-9.2%), from €39,483 to €35,847
- Depreciation +€1,623
up €1,623 (+2.6%), from €62,308 to €63,931
- Staff costs -€1,290
down €1,290 (-56.2%), from €2,293 to €1,003
- Financial charges -€505
down €505 (-25.9%), from €1,953 to €1,448
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 | €808,616 | €794,064 | -€14,553 | -1.8% |
| Fixed assets | 21/28 | €777,559 | €762,728 | -€14,831 | -1.9% |
| Tangible fixed assets | 22/27 | €775,349 | €760,518 | -€14,831 | -1.9% |
| Land and buildings | 22 | €750,856 | €754,356 | +€3,500 | +0.5% |
| Furniture and vehicles | 24 | €24,493 | €6,162 | -€18,332 | -74.8% |
| Financial fixed assets | 28 | €2,210 | €2,210 | = | 0.0% |
| Current assets | 29/58 | €31,058 | €31,336 | +€279 | +0.9% |
| Amounts receivable within one year | 40/41 | €4,698 | €22,835 | +€18,137 | +386% |
| Trade receivables | 40 | €807 | €22,369 | +€21,562 | +2,671% |
| Other amounts receivable | 41 | €3,890 | €466 | -€3,425 | -88.0% |
| Cash at bank and in hand | 54/58 | €17,158 | €6,669 | -€10,489 | -61.1% |
| Deferred charges and accrued income | 490/1 | €9,201 | €1,832 | -€7,369 | -80.1% |
| Total equity and liabilities | 10/49 | €808,616 | €794,064 | -€14,553 | -1.8% |
| Equity | 10/15 | €639,004 | €569,081 | -€69,923 | -10.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €20,609 | €20,609 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €599,803 | €529,880 | -€69,923 | -11.7% |
| Provisions and deferred taxes | 16 | €153,597 | €153,597 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €153,597 | €153,597 | = | 0.0% |
| Pensions and similar obligations | 160 | €153,597 | €153,597 | = | 0.0% |
| Amounts payable | 17/49 | €16,015 | €71,386 | +€55,371 | +346% |
| Amounts payable after more than one year | 17 | €6,456 | €5,706 | -€750 | -11.6% |
| Other amounts payable | 178/9 | €6,456 | €5,706 | -€750 | -11.6% |
| Amounts payable within one year | 42/48 | €9,559 | €65,680 | +€56,121 | +587% |
| Trade debts | 44 | €3,877 | €28,678 | +€24,801 | +640% |
| Suppliers | 440/4 | €3,877 | €28,678 | +€24,801 | +640% |
| Taxes, remuneration and social security | 45 | €5,682 | €2,882 | -€2,800 | -49.3% |
| Taxes | 450/3 | €2,978 | €2,882 | -€96 | -3.2% |
| Remuneration and social security | 454/9 | €2,704 | €0 | -€2,704 | -100% |
| Other amounts payable | 47/48 | - | €34,120 | +€34,120 | |
| Remuneration, social security and pensions | 62 | €2,293 | €1,003 | -€1,290 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,308 | €63,931 | +€1,623 | +2.6% |
| Other operating charges | 640/8 | €39,483 | €35,847 | -€3,637 | -9.2% |
| Non-recurring operating charges | 66A | - | €3,750 | +€3,750 | |
| Gross operating margin | 9900 | €43,962 | €36,478 | -€7,484 | -17.0% |
| Operating profit (loss) | 9901 | -€60,123 | -€68,053 | -€7,931 | -13.2% |
| Financial income | 75/76B | €148 | €0 | -€148 | -100% |
| Recurring financial income | 75 | €148 | €0 | -€148 | -100% |
| Financial charges | 65/66B | €1,953 | €1,448 | -€505 | -25.9% |
| Recurring financial charges | 65 | €1,953 | €1,448 | -€505 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | -€61,927 | -€69,501 | -€7,574 | -12.2% |
| Income taxes | 67/77 | €518 | €422 | -€96 | -18.5% |
| Profit (loss) for the period | 9904 | -€62,445 | -€69,923 | -€7,478 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,445 | -€69,923 | -€7,478 | -12.0% |
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 15 October 2026 via checked.be.