F.O.A.B.: 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.
F.O.A.B.
Largest movements
- Receivables within one year +€222,121
up €222,121 (+14.6%), from €1.5m to €1.7m
of which Other amounts receivable: +€212,873
- Cash -€55,528
down €55,528 (-38.7%), from €143,477 to €87,949
mainly Receivables within one year (-€222,121) and Debts after one year (-€16,626)
- Tangible fixed assets -€31,031
down €31,031 (-8.4%), from €368,926 to €337,895
of which Land and buildings: -€19,470
- Reserves +€151,494
up €151,494 (+12.4%), from €1.2m to €1.4m
of which Distributable reserves: +€151,494
- Gross operating margin -€50,140
down €50,140 (-22.4%), from €223,571 to €173,431
- Taxes +€4,966
up €4,966 (+6.9%), from €72,325 to €77,291
- Financial income +€4,127
up €4,127 (+4.8%), from €86,788 to €90,915
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 | €2,032,558 | €2,168,120 | +€135,562 | +6.7% |
| Fixed assets | 21/28 | €368,926 | €337,895 | -€31,031 | -8.4% |
| Tangible fixed assets | 22/27 | €368,926 | €337,895 | -€31,031 | -8.4% |
| Land and buildings | 22 | €345,804 | €326,334 | -€19,470 | -5.6% |
| Furniture and vehicles | 24 | €23,122 | €11,561 | -€11,561 | -50.0% |
| Current assets | 29/58 | €1,663,632 | €1,830,225 | +€166,593 | +10.0% |
| Amounts receivable within one year | 40/41 | €1,520,155 | €1,742,276 | +€222,121 | +14.6% |
| Trade receivables | 40 | - | €9,248 | +€9,248 | |
| Other amounts receivable | 41 | €1,520,155 | €1,733,028 | +€212,873 | +14.0% |
| Cash at bank and in hand | 54/58 | €143,477 | €87,949 | -€55,528 | -38.7% |
| Total equity and liabilities | 10/49 | €2,032,558 | €2,168,120 | +€135,562 | +6.7% |
| Equity | 10/15 | €1,892,152 | €2,043,646 | +€151,494 | +8.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,224,486 | €1,375,980 | +€151,494 | +12.4% |
| Non-distributable reserves | 130/1 | €7,833 | €7,833 | = | 0.0% |
| Legal reserve | 130 | €7,833 | €7,833 | = | 0.0% |
| Distributable reserves | 133 | €1,216,653 | €1,368,147 | +€151,494 | +12.5% |
| Profit (loss) carried forward | 14 | €605,666 | €605,666 | = | 0.0% |
| Provisions and deferred taxes | 16 | €56,087 | €56,087 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €56,087 | €56,087 | = | 0.0% |
| Pensions and similar obligations | 160 | €56,087 | €56,087 | = | 0.0% |
| Amounts payable | 17/49 | €84,319 | €68,387 | -€15,932 | -18.9% |
| Amounts payable after more than one year | 17 | €19,223 | €2,597 | -€16,626 | -86.5% |
| Financial debts | 170/4 | €19,223 | €2,597 | -€16,626 | -86.5% |
| Amounts payable within one year | 42/48 | €65,096 | €65,790 | +€694 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €22,380 | €16,626 | -€5,754 | -25.7% |
| Trade debts | 44 | €11,496 | €6,465 | -€5,031 | -43.8% |
| Suppliers | 440/4 | €11,496 | €6,465 | -€5,031 | -43.8% |
| Taxes, remuneration and social security | 45 | €31,220 | €42,699 | +€11,479 | +36.8% |
| Taxes | 450/3 | €31,220 | €42,699 | +€11,479 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,031 | €31,031 | = | 0.0% |
| Other operating charges | 640/8 | €3,313 | €3,414 | +€101 | +3.0% |
| Gross operating margin | 9900 | €223,571 | €173,431 | -€50,140 | -22.4% |
| Operating profit (loss) | 9901 | €189,227 | €138,986 | -€50,241 | -26.6% |
| Financial income | 75/76B | €86,788 | €90,915 | +€4,127 | +4.8% |
| Recurring financial income | 75 | €86,788 | €90,915 | +€4,127 | +4.8% |
| Financial charges | 65/66B | €1,629 | €1,117 | -€512 | -31.4% |
| Recurring financial charges | 65 | €1,629 | €1,117 | -€512 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €274,386 | €228,784 | -€45,602 | -16.6% |
| Income taxes | 67/77 | €72,325 | €77,291 | +€4,966 | +6.9% |
| Profit (loss) for the period | 9904 | €202,061 | €151,493 | -€50,568 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €202,061 | €151,493 | -€50,568 | -25.0% |
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 14 October 2026 via checked.be.