Fervial: 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.
Fervial
Largest movements
- Receivables within one year +€60,318
up €60,318 (+66.7%), from €90,474 to €150,791
of which Other amounts receivable: +€57,494
- Cash +€8,781
up €8,781 (+33.4%), from €26,291 to €35,071
mainly Net result for the year (+€52,666) and Tax, wage and social debts (+€8,538)
- Tangible fixed assets -€6,512
down €6,512 (-55.4%), from €11,748 to €5,236
of which Furniture and vehicles: -€6,345
- Reserves +€52,666
up €52,666 (+46.0%), from €114,594 to €167,260
- Tax, wage and social debts +€8,538
up €8,538 (+119%), from €7,178 to €15,716
- Gross operating margin +€32,308
up €32,308 (+68.6%), from €47,088 to €79,396
- Taxes +€9,605
up €9,605 (+77.7%), from €12,361 to €21,966
- Financial income +€1,500
up €1,500 (+35.1%), from €4,270 to €5,769
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 | €128,513 | €191,099 | +€62,586 | +48.7% |
| Fixed assets | 21/28 | €11,748 | €5,236 | -€6,512 | -55.4% |
| Tangible fixed assets | 22/27 | €11,748 | €5,236 | -€6,512 | -55.4% |
| Land and buildings | 22 | €1,376 | €1,208 | -€168 | -12.2% |
| Furniture and vehicles | 24 | €10,373 | €4,028 | -€6,345 | -61.2% |
| Current assets | 29/58 | €116,765 | €185,863 | +€69,098 | +59.2% |
| Amounts receivable within one year | 40/41 | €90,474 | €150,791 | +€60,318 | +66.7% |
| Trade receivables | 40 | €5,646 | €8,470 | +€2,824 | +50.0% |
| Other amounts receivable | 41 | €84,828 | €142,321 | +€57,494 | +67.8% |
| Cash at bank and in hand | 54/58 | €26,291 | €35,071 | +€8,781 | +33.4% |
| Total equity and liabilities | 10/49 | €128,513 | €191,099 | +€62,586 | +48.7% |
| Equity | 10/15 | €120,794 | €173,460 | +€52,666 | +43.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €114,594 | €167,260 | +€52,666 | +46.0% |
| Distributable reserves | 133 | €114,594 | €167,260 | +€52,666 | +46.0% |
| Amounts payable | 17/49 | €7,719 | €17,639 | +€9,920 | +129% |
| Amounts payable within one year | 42/48 | €7,719 | €17,639 | +€9,920 | +129% |
| Trade debts | 44 | €540 | €1,923 | +€1,382 | +256% |
| Suppliers | 440/4 | €540 | €1,923 | +€1,382 | +256% |
| Taxes, remuneration and social security | 45 | €7,178 | €15,716 | +€8,538 | +119% |
| Taxes | 450/3 | €7,178 | €15,716 | +€8,538 | +119% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,804 | €5,833 | +€29 | +0.5% |
| Other operating charges | 640/8 | €649 | €966 | +€317 | +48.9% |
| Gross operating margin | 9900 | €47,088 | €79,396 | +€32,308 | +68.6% |
| Operating profit (loss) | 9901 | €40,636 | €72,597 | +€31,962 | +78.7% |
| Financial income | 75/76B | €4,270 | €5,769 | +€1,500 | +35.1% |
| Recurring financial income | 75 | €4,270 | €5,769 | +€1,500 | +35.1% |
| Financial charges | 65/66B | €3,525 | €3,735 | +€210 | +5.9% |
| Recurring financial charges | 65 | €3,525 | €3,735 | +€210 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €41,380 | €74,632 | +€33,251 | +80.4% |
| Income taxes | 67/77 | €12,361 | €21,966 | +€9,605 | +77.7% |
| Profit (loss) for the period | 9904 | €29,020 | €52,666 | +€23,646 | +81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,020 | €52,666 | +€23,646 | +81.5% |
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.