FERTRI: 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.
FERTRI
Largest movements
- Financial fixed assets +€14,781
up €14,781 (+97.8%), from €15,121 to €29,902
- Tangible fixed assets -€14,334
down €14,334 (-48.1%), from €29,831 to €15,497
of which Furniture and vehicles: -€9,699
- Deferred charges and accrued income -€12,689
down €12,689 (-58.0%), from €21,863 to €9,174
- Cash -€12,093
down €12,093 (-4.5%), from €268,102 to €256,009
mainly Contributions, distributions and other (-€72,000) and Current portion of long-term debt (-€11,038)
- Stocks and contracts +€4,017
up €4,017 (+19.7%), from €20,401 to €24,419
- Profit (loss) carried forward -€52,184
down €52,184 (-37.8%), from €138,091 to €85,906
- Other debts +€42,000
up €42,000 (+140.0%), from €30,000 to €72,000
- Current portion of long-term debt -€11,038
down €11,038 (-83.2%), from €13,273 to €2,234
- Tax, wage and social debts +€4,470
up €4,470 (+5.5%), from €81,364 to €85,834
of which Taxes: +€4,507
- Staff costs +€37,295
up €37,295 (+6.0%), from €616,690 to €653,985
- Gross operating margin +€18,718
up €18,718 (+2.7%), from €682,539 to €701,257
- Taxes -€8,030
down €8,030 (-50.8%), from €15,810 to €7,780
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 | €389,326 | €372,020 | -€17,306 | -4.4% |
| Fixed assets | 21/28 | €44,952 | €45,399 | +€447 | +1.0% |
| Tangible fixed assets | 22/27 | €29,831 | €15,497 | -€14,334 | -48.1% |
| Plant, machinery and equipment | 23 | €14,190 | €9,886 | -€4,304 | -30.3% |
| Furniture and vehicles | 24 | €15,148 | €5,449 | -€9,699 | -64.0% |
| Other tangible fixed assets | 26 | €494 | €162 | -€331 | -67.1% |
| Financial fixed assets | 28 | €15,121 | €29,902 | +€14,781 | +97.8% |
| Current assets | 29/58 | €344,374 | €326,621 | -€17,752 | -5.2% |
| Stocks and contracts in progress | 3 | €20,401 | €24,419 | +€4,017 | +19.7% |
| Stocks | 30/36 | €20,401 | €24,419 | +€4,017 | +19.7% |
| Amounts receivable within one year | 40/41 | €34,007 | €37,020 | +€3,012 | +8.9% |
| Trade receivables | 40 | €10,538 | €17,035 | +€6,498 | +61.7% |
| Other amounts receivable | 41 | €23,470 | €19,984 | -€3,486 | -14.9% |
| Cash at bank and in hand | 54/58 | €268,102 | €256,009 | -€12,093 | -4.5% |
| Deferred charges and accrued income | 490/1 | €21,863 | €9,174 | -€12,689 | -58.0% |
| Total equity and liabilities | 10/49 | €389,326 | €372,020 | -€17,306 | -4.4% |
| Equity | 10/15 | €223,345 | €171,160 | -€52,184 | -23.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €66,662 | €66,662 | = | 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 | €290 | €290 | = | 0.0% |
| Distributable reserves | 133 | €64,513 | €64,513 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,091 | €85,906 | -€52,184 | -37.8% |
| Amounts payable | 17/49 | €165,981 | €200,860 | +€34,879 | +21.0% |
| Amounts payable within one year | 42/48 | €165,981 | €200,257 | +€34,276 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €13,273 | €2,234 | -€11,038 | -83.2% |
| Trade debts | 44 | €41,344 | €40,189 | -€1,156 | -2.8% |
| Suppliers | 440/4 | €41,344 | €40,189 | -€1,156 | -2.8% |
| Taxes, remuneration and social security | 45 | €81,364 | €85,834 | +€4,470 | +5.5% |
| Taxes | 450/3 | €17,197 | €21,704 | +€4,507 | +26.2% |
| Remuneration and social security | 454/9 | €64,167 | €64,130 | -€37 | -0.1% |
| Other amounts payable | 47/48 | €30,000 | €72,000 | +€42,000 | +140.0% |
| Accrued charges and deferred income | 492/3 | - | €603 | +€603 | |
| Remuneration, social security and pensions | 62 | €616,690 | €653,985 | +€37,295 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,105 | €7,356 | +€251 | +3.5% |
| Other operating charges | 640/8 | €4,081 | €7,447 | +€3,366 | +82.5% |
| Gross operating margin | 9900 | €682,539 | €701,257 | +€18,718 | +2.7% |
| Operating profit (loss) | 9901 | €54,663 | €32,469 | -€22,194 | -40.6% |
| Financial income | 75/76B | €28 | €12 | -€16 | -58.0% |
| Recurring financial income | 75 | €28 | €12 | -€16 | -58.0% |
| Financial charges | 65/66B | €3,532 | €4,886 | +€1,353 | +38.3% |
| Recurring financial charges | 65 | €3,532 | €4,886 | +€1,353 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €51,159 | €27,596 | -€23,563 | -46.1% |
| Income taxes | 67/77 | €15,810 | €7,780 | -€8,030 | -50.8% |
| Profit (loss) for the period | 9904 | €35,349 | €19,816 | -€15,533 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,349 | €19,816 | -€15,533 | -43.9% |
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 2 October 2026 via checked.be.