FERUMCO: 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.
What changed
FERUMCO
NACE 28.220, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€36,618
2024 · -€125,334+€88,716
Equity
€502,066
2024 · €538,684-€36,618
Cash
€23,493
2024 · €11,311+€12,182
Balance sheet total
€2.3m
2024 · €2.6m-€227,246
Largest movements
Assets
- Tangible fixed assets -€193,288
down €193,288 (-9.1%), from €2.1m to €1.9m
of which Land and buildings: -€101,424
Equity and liabilities
- Debts after one year -€119,199
down €119,199 (-7.3%), from €1.6m to €1.5m
- Short-term financial debts -€75,000
down €75,000 (-30.0%), from €250,000 to €175,000
- Profit (loss) carried forward -€36,618
down €36,618 (-31.5%), from -€116,357 to -€152,975
Income statement
- Gross operating margin +€37,586
up €37,586 (+12.4%), from €303,499 to €341,085
- Depreciation -€23,161
down €23,161 (-9.0%), from €257,509 to €234,348
- Staff costs -€17,393
down €17,393 (-21.9%), from €79,257 to €61,864
- Financial charges -€6,113
down €6,113 (-8.0%), from €76,651 to €70,538
- Financial income +€5,501
up €5,501 (+4457.6%), from €123 to €5,625
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.
Result 2024
-€125,334
Gross operating margin
+€37,586
Staff costs
+€17,393
Depreciation
+€23,161
Other operating charges
-€1,036
Financial income
+€5,501
Financial charges
+€6,113
Result 2025
-€36,618
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.
From operations
+€220,485
Investment
-€18,082
Financing
-€190,221
Cash 2024
€11,311
From operations (derived)
+€220,485
Net result for the year
-€36,618
Depreciation
+€234,348
Receivables within one year
+€23,171
Deferred charges and accrued income
-€10
Trade debts
+€811
Tax, wage and social debts
-€1,217
Investment (derived)
-€18,082
Investment in fixed assets (net)
-€18,082
Financing
-€190,221
Debts after one year
-€119,199
Current portion of long-term debt
+€3,978
Short-term financial debts
-€75,000
Cash 2025
€23,493
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,559,734 | €2,332,488 | -€227,246 | -8.9% |
| Fixed assets | 21/28 | €2,155,182 | €1,938,915 | -€216,266 | -10.0% |
| Intangible fixed assets | 21 | €22,978 | - | -€22,978 | |
| Tangible fixed assets | 22/27 | €2,132,203 | €1,938,915 | -€193,288 | -9.1% |
| Land and buildings | 22 | €1,376,064 | €1,274,641 | -€101,424 | -7.4% |
| Plant, machinery and equipment | 23 | €37,627 | €29,131 | -€8,495 | -22.6% |
| Furniture and vehicles | 24 | €97,005 | €67,937 | -€29,068 | -30.0% |
| Other tangible fixed assets | 26 | €621,507 | €567,207 | -€54,300 | -8.7% |
| Current assets | 29/58 | €404,552 | €393,573 | -€10,979 | -2.7% |
| Amounts receivable within one year | 40/41 | €390,043 | €366,872 | -€23,171 | -5.9% |
| Trade receivables | 40 | €390,043 | €366,872 | -€23,171 | -5.9% |
| Cash at bank and in hand | 54/58 | €11,311 | €23,493 | +€12,182 | +107.7% |
| Deferred charges and accrued income | 490/1 | €3,199 | €3,208 | +€10 | +0.3% |
| Total equity and liabilities | 10/49 | €2,559,734 | €2,332,488 | -€227,246 | -8.9% |
| Equity | 10/15 | €538,684 | €502,066 | -€36,618 | -6.8% |
| Contributions | 10/11 | €393,200 | €393,200 | = | 0.0% |
| Capital | 10 | €393,200 | €393,200 | = | 0.0% |
| Issued capital | 100 | €393,200 | €393,200 | = | 0.0% |
| Reserves | 13 | €261,841 | €261,841 | = | 0.0% |
| Non-distributable reserves | 130/1 | €39,320 | €39,320 | = | 0.0% |
| Legal reserve | 130 | €39,320 | €39,320 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,526 | €2,526 | = | 0.0% |
| Distributable reserves | 133 | €219,995 | €219,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,357 | -€152,975 | -€36,618 | -31.5% |
| Amounts payable | 17/49 | €2,021,051 | €1,830,423 | -€190,628 | -9.4% |
| Amounts payable after more than one year | 17 | €1,644,116 | €1,524,917 | -€119,199 | -7.3% |
| Financial debts | 170/4 | €1,644,116 | €1,524,917 | -€119,199 | -7.3% |
| Amounts payable within one year | 42/48 | €376,935 | €305,506 | -€71,429 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €115,221 | €119,199 | +€3,978 | +3.5% |
| Financial debts | 43 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Credit institutions | 430/8 | €250,000 | €175,000 | -€75,000 | -30.0% |
| Trade debts | 44 | - | €811 | +€811 | |
| Suppliers | 440/4 | - | €811 | +€811 | |
| Taxes, remuneration and social security | 45 | €9,266 | €8,048 | -€1,217 | -13.1% |
| Taxes | 450/3 | €3,884 | €3,549 | -€335 | -8.6% |
| Remuneration and social security | 454/9 | €5,382 | €4,499 | -€882 | -16.4% |
| Other amounts payable | 47/48 | €2,448 | €2,448 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €79,257 | €61,864 | -€17,393 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257,509 | €234,348 | -€23,161 | -9.0% |
| Other operating charges | 640/8 | €15,541 | €16,577 | +€1,036 | +6.7% |
| Gross operating margin | 9900 | €303,499 | €341,085 | +€37,586 | +12.4% |
| Operating profit (loss) | 9901 | -€48,807 | €28,296 | +€77,103 | |
| Financial income | 75/76B | €123 | €5,625 | +€5,501 | +4457.6% |
| Recurring financial income | 75 | €123 | €5,625 | +€5,501 | +4457.6% |
| Financial charges | 65/66B | €76,651 | €70,538 | -€6,113 | -8.0% |
| Recurring financial charges | 65 | €76,651 | €70,538 | -€6,113 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€125,334 | -€36,618 | +€88,716 | +70.8% |
| Profit (loss) for the period | 9904 | -€125,334 | -€36,618 | +€88,716 | +70.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€125,334 | -€36,618 | +€88,716 | +70.8% |
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 7 October 2026 via checked.be.