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.
Fermucon
Largest movements
- Cash +€76,633
up €76,633 (+128.4%), from €59,699 to €136,332
mainly Net result for the year (+€78,809) and Depreciation (+€1,229)
- Reserves +€78,189
up €78,189 (+138.6%), from €56,423 to €134,612
- Tax, wage and social debts -€2,944
down €2,944 (-13.7%), from €21,442 to €18,498
- Gross operating margin +€10,248
up €10,248 (+11.1%), from €92,111 to €102,358
- Other operating charges -€7,862
down €7,862 (-92.3%), from €8,516 to €655
- Taxes -€2,358
down €2,358 (-9.8%), from €23,973 to €21,615
- Depreciation -€1,058
down €1,058 (-46.3%), from €2,287 to €1,229
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 | €85,991 | €161,104 | +€75,113 | +87.3% |
| Fixed assets | 21/28 | €5,418 | €4,189 | -€1,229 | -22.7% |
| Tangible fixed assets | 22/27 | €5,193 | €3,964 | -€1,229 | -23.7% |
| Furniture and vehicles | 24 | €5,193 | €3,964 | -€1,229 | -23.7% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €80,573 | €156,915 | +€76,342 | +94.7% |
| Amounts receivable within one year | 40/41 | €20,874 | €19,890 | -€985 | -4.7% |
| Trade receivables | 40 | €19,360 | €19,770 | +€410 | +2.1% |
| Other amounts receivable | 41 | €1,514 | €119 | -€1,395 | -92.1% |
| Cash at bank and in hand | 54/58 | €59,699 | €136,332 | +€76,633 | +128.4% |
| Deferred charges and accrued income | 490/1 | - | €693 | +€693 | |
| Total equity and liabilities | 10/49 | €85,991 | €161,104 | +€75,113 | +87.3% |
| Equity | 10/15 | €61,423 | €139,612 | +€78,189 | +127.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €56,423 | €134,612 | +€78,189 | +138.6% |
| Distributable reserves | 133 | €56,423 | €134,612 | +€78,189 | +138.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €24,568 | €21,492 | -€3,076 | -12.5% |
| Amounts payable within one year | 42/48 | €24,568 | €21,492 | -€3,076 | -12.5% |
| Trade debts | 44 | €2,327 | €1,898 | -€428 | -18.4% |
| Suppliers | 440/4 | €2,327 | €1,898 | -€428 | -18.4% |
| Taxes, remuneration and social security | 45 | €21,442 | €18,498 | -€2,944 | -13.7% |
| Taxes | 450/3 | €21,442 | €18,498 | -€2,944 | -13.7% |
| Other amounts payable | 47/48 | €800 | €1,096 | +€296 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,287 | €1,229 | -€1,058 | -46.3% |
| Other operating charges | 640/8 | €8,516 | €655 | -€7,862 | -92.3% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €92,111 | €102,358 | +€10,248 | +11.1% |
| Operating profit (loss) | 9901 | €81,307 | €100,475 | +€19,168 | +23.6% |
| Financial income | 75/76B | - | €70 | +€70 | |
| Recurring financial income | 75 | - | €70 | +€70 | |
| Financial charges | 65/66B | €112 | €121 | +€9 | +8.1% |
| Recurring financial charges | 65 | €112 | €121 | +€9 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €81,196 | €100,424 | +€19,229 | +23.7% |
| Income taxes | 67/77 | €23,973 | €21,615 | -€2,358 | -9.8% |
| Profit (loss) for the period | 9904 | €57,223 | €78,809 | +€21,586 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,223 | €78,809 | +€21,586 | +37.7% |
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 27 September 2026 via checked.be.