FERVAC: 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.
FERVAC
Largest movements
- Tangible fixed assets -€10,458
down €10,458 (-3.0%), from €344,430 to €333,972
- Cash +€5,597
up €5,597 (+91.1%), from €6,147 to €11,744
mainly Net result for the year (+€16,875) and Depreciation (+€10,458)
- Debts after one year -€20,528
down €20,528 (-41.7%), from €49,265 to €28,737
- Profit (loss) carried forward +€16,875
up €16,875 (+52.2%), from -€32,314 to -€15,439
- Gross operating margin +€4,489
up €4,489 (+15.4%), from €29,124 to €33,613
- Financial charges -€744
down €744 (-22.9%), from €3,250 to €2,506
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 | €351,736 | €346,922 | -€4,814 | -1.4% |
| Fixed assets | 21/28 | €344,430 | €333,972 | -€10,458 | -3.0% |
| Tangible fixed assets | 22/27 | €344,430 | €333,972 | -€10,458 | -3.0% |
| Land and buildings | 22 | €344,430 | €333,972 | -€10,458 | -3.0% |
| Current assets | 29/58 | €7,306 | €12,950 | +€5,644 | +77.2% |
| Amounts receivable within one year | 40/41 | - | €30 | +€30 | |
| Other amounts receivable | 41 | - | €30 | +€30 | |
| Cash at bank and in hand | 54/58 | €6,147 | €11,744 | +€5,597 | +91.1% |
| Deferred charges and accrued income | 490/1 | €1,159 | €1,176 | +€17 | +1.4% |
| Total equity and liabilities | 10/49 | €351,736 | €346,922 | -€4,814 | -1.4% |
| Equity | 10/15 | -€11,863 | €5,013 | +€16,875 | |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,314 | -€15,439 | +€16,875 | +52.2% |
| Amounts payable | 17/49 | €363,599 | €341,909 | -€21,690 | -6.0% |
| Amounts payable after more than one year | 17 | €49,265 | €28,737 | -€20,528 | -41.7% |
| Financial debts | 170/4 | €49,265 | €28,737 | -€20,528 | -41.7% |
| Amounts payable within one year | 42/48 | €312,334 | €313,172 | +€838 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €19,690 | €20,528 | +€838 | +4.3% |
| Other amounts payable | 47/48 | €292,644 | €292,644 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,458 | €10,458 | = | 0.0% |
| Other operating charges | 640/8 | €3,659 | €3,773 | +€115 | +3.1% |
| Gross operating margin | 9900 | €29,124 | €33,613 | +€4,489 | +15.4% |
| Operating profit (loss) | 9901 | €15,007 | €19,381 | +€4,375 | +29.1% |
| Financial charges | 65/66B | €3,250 | €2,506 | -€744 | -22.9% |
| Recurring financial charges | 65 | €3,250 | €2,506 | -€744 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €11,757 | €16,875 | +€5,118 | +43.5% |
| Profit (loss) for the period | 9904 | €11,757 | €16,875 | +€5,118 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,757 | €16,875 | +€5,118 | +43.5% |
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 28 September 2026 via checked.be.