SO FERN: 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.
SO FERN
Largest movements
- Receivables after one year -€52,550
no longer reported in 2025 (was €52,550)
- Cash -€11,193
down €11,193 (-78.3%), from €14,295 to €3,102
mainly Net result for the year (-€38,734) and Other debts (-€19,717)
- Tangible fixed assets -€4,000
down €4,000 (-91.8%), from €4,354 to €355
- Receivables within one year -€3,091
down €3,091 (-46.9%), from €6,591 to €3,500
- Deferred charges and accrued income -€2,475
no longer reported in 2025 (was €2,475)
- Profit (loss) carried forward -€38,734
down €38,734, from €29,262 to -€9,472
- Other debts -€19,717
down €19,717 (-63.9%), from €30,837 to €11,120
- Trade debts -€13,520
down €13,520 (-85.5%), from €15,806 to €2,286
- Tax, wage and social debts -€1,337
down €1,337 (-60.1%), from €2,224 to €886
- Gross operating margin -€9,274
down €9,274 (-34.0%), from -€27,240 to -€36,514
- Depreciation -€1,239
down €1,239 (-86.4%), from €1,435 to €196
- Financial charges -€1,113
down €1,113 (-63.7%), from €1,747 to €633
- Other operating charges -€467
down €467 (-72.6%), from €643 to €176
- Financial income -€395
no longer reported in 2025 (was €395)
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 | €80,629 | €7,320 | -€73,309 | -90.9% |
| Fixed assets | 21/28 | €4,717 | €718 | -€4,000 | -84.8% |
| Tangible fixed assets | 22/27 | €4,354 | €355 | -€4,000 | -91.8% |
| Furniture and vehicles | 24 | €4,354 | €355 | -€4,000 | -91.8% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €75,911 | €6,602 | -€69,309 | -91.3% |
| Amounts receivable after more than one year | 29 | €52,550 | - | -€52,550 | |
| Other amounts receivable | 291 | €52,550 | - | -€52,550 | |
| Amounts receivable within one year | 40/41 | €6,591 | €3,500 | -€3,091 | -46.9% |
| Trade receivables | 40 | €6,591 | €3,500 | -€3,091 | -46.9% |
| Cash at bank and in hand | 54/58 | €14,295 | €3,102 | -€11,193 | -78.3% |
| Deferred charges and accrued income | 490/1 | €2,475 | - | -€2,475 | |
| Total equity and liabilities | 10/49 | €80,629 | €7,320 | -€73,309 | -90.9% |
| Equity | 10/15 | €31,762 | -€6,972 | -€38,734 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,262 | -€9,472 | -€38,734 | |
| Amounts payable | 17/49 | €48,867 | €14,292 | -€34,575 | -70.8% |
| Amounts payable within one year | 42/48 | €48,867 | €14,292 | -€34,575 | -70.8% |
| Trade debts | 44 | €15,806 | €2,286 | -€13,520 | -85.5% |
| Suppliers | 440/4 | €15,806 | €2,286 | -€13,520 | -85.5% |
| Taxes, remuneration and social security | 45 | €2,224 | €886 | -€1,337 | -60.1% |
| Taxes | 450/3 | €2,224 | €886 | -€1,337 | -60.1% |
| Other amounts payable | 47/48 | €30,837 | €11,120 | -€19,717 | -63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,435 | €196 | -€1,239 | -86.4% |
| Other operating charges | 640/8 | €643 | €176 | -€467 | -72.6% |
| Non-recurring operating charges | 66A | - | €1,154 | +€1,154 | |
| Gross operating margin | 9900 | -€27,240 | -€36,514 | -€9,274 | -34.0% |
| Operating profit (loss) | 9901 | -€29,318 | -€38,040 | -€8,722 | -29.7% |
| Financial income | 75/76B | €395 | - | -€395 | |
| Recurring financial income | 75 | €395 | - | -€395 | |
| Financial charges | 65/66B | €1,747 | €633 | -€1,113 | -63.7% |
| Recurring financial charges | 65 | €1,747 | €633 | -€1,113 | -63.7% |
| Profit (loss) for the period before taxes | 9903 | -€30,670 | -€38,673 | -€8,003 | -26.1% |
| Income taxes | 67/77 | €147 | €61 | -€86 | -58.5% |
| Profit (loss) for the period | 9904 | -€30,817 | -€38,734 | -€7,917 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,817 | -€38,734 | -€7,917 | -25.7% |
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 23 October 2026 via checked.be.