FABELSOLD: 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.
FABELSOLD
Largest movements
- Stocks and contracts +€183,389
up €183,389 (+31.8%), from €576,929 to €760,318
- Cash -€151,642
down €151,642 (-62.8%), from €241,514 to €89,872
mainly Stocks and contracts (-€183,389) and Current investments (-€77,219)
- Current investments +€77,219
up €77,219 (+48.6%), from €158,744 to €235,963
- Tangible fixed assets -€63,665
down €63,665 (-15.5%), from €410,458 to €346,793
- Formation expenses +€61,361
new in 2025: €61,361
- Profit (loss) carried forward +€100,328
up €100,328 (+31.2%), from €321,916 to €422,245
- Trade debts +€80,005
up €80,005 (+85.0%), from €94,142 to €174,147
- Tax, wage and social debts -€47,201
down €47,201 (-55.6%), from €84,867 to €37,666
of which Taxes: -€48,415
- Debts after one year -€16,169
down €16,169 (-9.2%), from €175,675 to €159,506
- Gross operating margin +€57,580
up €57,580 (+17.0%), from €338,791 to €396,371
- Staff costs +€10,151
up €10,151 (+13.0%), from €77,962 to €88,113
- Other operating charges +€6,088
up €6,088 (+41.0%), from €14,841 to €20,928
- Taxes +€4,699
up €4,699 (+10.4%), from €45,030 to €49,729
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 | €1,444,712 | €1,571,299 | +€126,587 | +8.8% |
| Formation expenses | 20 | - | €61,361 | +€61,361 | |
| Fixed assets | 21/28 | €411,519 | €347,854 | -€63,665 | -15.5% |
| Tangible fixed assets | 22/27 | €410,458 | €346,793 | -€63,665 | -15.5% |
| Land and buildings | 22 | €204,667 | €192,117 | -€12,550 | -6.1% |
| Plant, machinery and equipment | 23 | €105,568 | €85,600 | -€19,967 | -18.9% |
| Furniture and vehicles | 24 | €10,355 | €9,191 | -€1,164 | -11.2% |
| Leasing and similar rights | 25 | €89,869 | €59,885 | -€29,984 | -33.4% |
| Financial fixed assets | 28 | €1,061 | €1,061 | = | 0.0% |
| Current assets | 29/58 | €1,033,193 | €1,162,084 | +€128,892 | +12.5% |
| Stocks and contracts in progress | 3 | €576,929 | €760,318 | +€183,389 | +31.8% |
| Stocks | 30/36 | €576,929 | €760,318 | +€183,389 | +31.8% |
| Amounts receivable within one year | 40/41 | €53,559 | €72,510 | +€18,951 | +35.4% |
| Trade receivables | 40 | €23,838 | €39,309 | +€15,471 | +64.9% |
| Other amounts receivable | 41 | €29,721 | €33,201 | +€3,480 | +11.7% |
| Current investments | 50/53 | €158,744 | €235,963 | +€77,219 | +48.6% |
| Cash at bank and in hand | 54/58 | €241,514 | €89,872 | -€151,642 | -62.8% |
| Deferred charges and accrued income | 490/1 | €2,447 | €3,422 | +€974 | +39.8% |
| Total equity and liabilities | 10/49 | €1,444,712 | €1,571,299 | +€126,587 | +8.8% |
| Equity | 10/15 | €1,021,376 | €1,121,705 | +€100,328 | +9.8% |
| Contributions | 10/11 | €119,460 | €119,460 | = | 0.0% |
| Reserves | 13 | €580,000 | €580,000 | = | 0.0% |
| Distributable reserves | 133 | €580,000 | €580,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,916 | €422,245 | +€100,328 | +31.2% |
| Amounts payable | 17/49 | €423,335 | €449,595 | +€26,259 | +6.2% |
| Amounts payable after more than one year | 17 | €175,675 | €159,506 | -€16,169 | -9.2% |
| Financial debts | 170/4 | €175,675 | €159,506 | -€16,169 | -9.2% |
| Amounts payable within one year | 42/48 | €247,661 | €290,089 | +€42,428 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €65,169 | €67,277 | +€2,108 | +3.2% |
| Trade debts | 44 | €94,142 | €174,147 | +€80,005 | +85.0% |
| Suppliers | 440/4 | €94,142 | €174,147 | +€80,005 | +85.0% |
| Taxes, remuneration and social security | 45 | €84,867 | €37,666 | -€47,201 | -55.6% |
| Taxes | 450/3 | €66,388 | €17,972 | -€48,415 | -72.9% |
| Remuneration and social security | 454/9 | €18,480 | €19,694 | +€1,214 | +6.6% |
| Other amounts payable | 47/48 | €3,482 | €10,998 | +€7,516 | +215.8% |
| Remuneration, social security and pensions | 62 | €77,962 | €88,113 | +€10,151 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,514 | €72,030 | +€2,516 | +3.6% |
| Other operating charges | 640/8 | €14,841 | €20,928 | +€6,088 | +41.0% |
| Gross operating margin | 9900 | €338,791 | €396,371 | +€57,580 | +17.0% |
| Operating profit (loss) | 9901 | €176,475 | €215,300 | +€38,825 | +22.0% |
| Financial income | 75/76B | €2,657 | €5,460 | +€2,803 | +105.5% |
| Recurring financial income | 75 | €2,657 | €5,460 | +€2,803 | +105.5% |
| Financial charges | 65/66B | €24,321 | €20,703 | -€3,618 | -14.9% |
| Recurring financial charges | 65 | €24,321 | €20,703 | -€3,618 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €154,810 | €200,057 | +€45,247 | +29.2% |
| Income taxes | 67/77 | €45,030 | €49,729 | +€4,699 | +10.4% |
| Profit (loss) for the period | 9904 | €109,780 | €150,328 | +€40,548 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €109,780 | €150,328 | +€40,548 | +36.9% |
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 1 October 2026 via checked.be.