FARBO: what changed
What changed
FARBO
NACE 43.350, Other building finishing work
filed annual accounts (NBB)
Net result for the year
€151,504
2024 · €269,624-€118,119
Equity
€804,571
2024 · €653,067+€151,504
Cash
€574,221
2024 · €506,539+€67,682
Balance sheet total
€1.5m
2024 · €1.5m+€64,528
Largest movements
Assets
- Tangible fixed assets -€95,307
down €95,307 (-26.1%), from €365,859 to €270,551
of which Leasing and similar rights: -€57,305
- Cash +€67,682
up €67,682 (+13.4%), from €506,539 to €574,221
mainly Net result for the year (+€151,504) and Depreciation (+€130,317)
- Receivables within one year +€59,997
up €59,997 (+15.9%), from €377,981 to €437,977
of which Trade receivables: +€86,471
- Stocks and contracts +€28,767
up €28,767 (+19.3%), from €148,807 to €177,574
Equity and liabilities
- Reserves +€151,504
up €151,504 (+24.3%), from €623,067 to €774,571
- Debts after one year -€96,974
down €96,974 (-48.6%), from €199,733 to €102,759
- Tax, wage and social debts +€19,023
up €19,023 (+22.5%), from €84,398 to €103,422
of which Remuneration and social security: +€51,356
- Current portion of long-term debt -€16,370
down €16,370 (-14.4%), from €113,343 to €96,974
Income statement
- Staff costs +€192,727
up €192,727 (+12.6%), from €1.5m to €1.7m
- Gross operating margin +€102,527
up €102,527 (+5.1%), from €2.0m to €2.1m
- Financial income -€48,599
down €48,599 (-91.1%), from €53,356 to €4,758
of which Non-recurring financial income: -€50,522
- Taxes -€39,109
down €39,109 (-38.5%), from €101,607 to €62,498
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€269,624
Gross operating margin
+€102,527
Staff costs
-€192,727
Depreciation
-€14,882
Write-downs
-€3,229
Other operating charges
+€404
Financial income
-€48,599
Financial charges
-€722
Taxes
+€39,109
Result 2025
€151,504
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€212,456
Investment
-€31,431
Financing
-€113,343
Cash 2024
€506,539
From operations (derived)
+€212,456
Net result for the year
+€151,504
Depreciation
+€130,317
Stocks and contracts
-€28,767
Receivables within one year
-€59,997
Deferred charges and accrued income
-€6,968
Trade debts
+€3,733
Tax, wage and social debts
+€19,023
Advances received
+€7,983
Other debts
+€806
Accrued charges and deferred income
-€5,177
Investment (derived)
-€31,431
Investment in fixed assets (net)
-€31,431
Financing
-€113,343
Debts after one year
-€96,974
Current portion of long-term debt
-€16,370
Cash 2025
€574,221
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,452,990 | €1,517,518 | +€64,528 | +4.4% |
| Fixed assets | 21/28 | €391,699 | €292,813 | -€98,886 | -25.2% |
| Intangible fixed assets | 21 | €17,841 | €22,262 | +€4,422 | +24.8% |
| Tangible fixed assets | 22/27 | €365,859 | €270,551 | -€95,307 | -26.1% |
| Plant, machinery and equipment | 23 | €25,126 | €16,366 | -€8,760 | -34.9% |
| Furniture and vehicles | 24 | €122,909 | €87,144 | -€35,766 | -29.1% |
| Leasing and similar rights | 25 | €190,987 | €133,682 | -€57,305 | -30.0% |
| Other tangible fixed assets | 26 | €26,837 | €33,361 | +€6,523 | +24.3% |
| Financial fixed assets | 28 | €8,000 | - | -€8,000 | |
| Current assets | 29/58 | €1,061,291 | €1,224,704 | +€163,414 | +15.4% |
| Stocks and contracts in progress | 3 | €148,807 | €177,574 | +€28,767 | +19.3% |
| Stocks | 30/36 | €148,807 | €177,574 | +€28,767 | +19.3% |
| Amounts receivable within one year | 40/41 | €377,981 | €437,977 | +€59,997 | +15.9% |
| Trade receivables | 40 | €277,597 | €364,068 | +€86,471 | +31.1% |
| Other amounts receivable | 41 | €100,384 | €73,909 | -€26,475 | -26.4% |
| Cash at bank and in hand | 54/58 | €506,539 | €574,221 | +€67,682 | +13.4% |
| Deferred charges and accrued income | 490/1 | €27,964 | €34,932 | +€6,968 | +24.9% |
| Total equity and liabilities | 10/49 | €1,452,990 | €1,517,518 | +€64,528 | +4.4% |
| Equity | 10/15 | €653,067 | €804,571 | +€151,504 | +23.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €623,067 | €774,571 | +€151,504 | +24.3% |
| Distributable reserves | 133 | €623,067 | €774,571 | +€151,504 | +24.3% |
| Amounts payable | 17/49 | €799,923 | €712,947 | -€86,976 | -10.9% |
| Amounts payable after more than one year | 17 | €199,733 | €102,759 | -€96,974 | -48.6% |
| Financial debts | 170/4 | €199,733 | €102,759 | -€96,974 | -48.6% |
| Amounts payable within one year | 42/48 | €589,945 | €605,120 | +€15,175 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €113,343 | €96,974 | -€16,370 | -14.4% |
| Trade debts | 44 | €191,575 | €195,308 | +€3,733 | +1.9% |
| Suppliers | 440/4 | €191,575 | €195,308 | +€3,733 | +1.9% |
| Advances received on contracts in progress | 46 | - | €7,983 | +€7,983 | |
| Taxes, remuneration and social security | 45 | €84,398 | €103,422 | +€19,023 | +22.5% |
| Taxes | 450/3 | €42,273 | €9,940 | -€32,333 | -76.5% |
| Remuneration and social security | 454/9 | €42,125 | €93,482 | +€51,356 | +122% |
| Other amounts payable | 47/48 | €200,628 | €201,433 | +€806 | +0.4% |
| Accrued charges and deferred income | 492/3 | €10,246 | €5,068 | -€5,177 | -50.5% |
| Non-recurring operating income | 76A | - | €1,575 | +€1,575 | |
| Remuneration, social security and pensions | 62 | €1,530,041 | €1,722,768 | +€192,727 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,434 | €130,317 | +€14,882 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,229 | +€3,229 | |
| Other operating charges | 640/8 | €9,648 | €9,244 | -€404 | -4.2% |
| Gross operating margin | 9900 | €1,998,795 | €2,101,322 | +€102,527 | +5.1% |
| Operating profit (loss) | 9901 | €343,672 | €235,764 | -€107,908 | -31.4% |
| Financial income | 75/76B | €53,356 | €4,758 | -€48,599 | -91.1% |
| Recurring financial income | 75 | €2,834 | €4,758 | +€1,923 | +67.8% |
| Non-recurring financial income | 76B | €50,522 | - | -€50,522 | |
| Financial charges | 65/66B | €25,797 | €26,519 | +€722 | +2.8% |
| Recurring financial charges | 65 | €25,797 | €26,519 | +€722 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €371,231 | €214,003 | -€157,228 | -42.4% |
| Income taxes | 67/77 | €101,607 | €62,498 | -€39,109 | -38.5% |
| Profit (loss) for the period | 9904 | €269,624 | €151,504 | -€118,119 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €269,624 | €151,504 | -€118,119 | -43.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.