FBA Invest: what changed
What changed
FBA Invest
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€1,717
2024 · -€1,246+€2,964
Equity
€10,471
2024 · €8,754+€1,717
Cash
€17,655
2024 · €41,710-€24,055
Balance sheet total
€1.3m
2024 · €438,556+€871,890
Largest movements
Assets
- Tangible fixed assets +€894,440
up €894,440 (+254%), from €351,700 to €1.2m
of which Land and buildings: +€902,696
- Cash -€24,055
down €24,055 (-57.7%), from €41,710 to €17,655
mainly Investment in fixed assets (net) (-€1.0m) and Smaller working-capital items (-€1,406)
Equity and liabilities
- Debts after one year +€757,114
up €757,114 (+481%), from €157,451 to €914,565
- Other debts +€57,868
up €57,868 (+23.1%), from €250,062 to €307,930
- Current portion of long-term debt +€26,610
up €26,610 (+464%), from €5,731 to €32,341
- Trade debts +€15,798
up €15,798 (+139%), from €11,351 to €27,149
Income statement
- Gross operating margin +€127,078
up €127,078 (+264%), from €48,117 to €175,196
- Depreciation +€95,602
up €95,602 (+267%), from €35,793 to €131,396
- Financial charges +€23,115
up €23,115 (+213%), from €10,875 to €33,989
- Other operating charges +€5,508
up €5,508 (+202%), from €2,722 to €8,230
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
-€1,246
Gross operating margin
+€127,078
Depreciation
-€95,602
Other operating charges
-€5,508
Financial income
+€125
Financial charges
-€23,115
Taxes
-€16
Result 2025
€1,717
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
+€218,156
Investment
-€1.0m
Financing
+€783,725
Cash 2024
€41,710
From operations (derived)
+€218,156
Net result for the year
+€1,717
Depreciation
+€131,396
Smaller working-capital items
-€1,406
Trade debts
+€15,798
Tax, wage and social debts
+€9,283
Other debts
+€57,868
Accrued charges and deferred income
+€3,500
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Current investments
-€100
Financing
+€783,725
Debts after one year
+€757,114
Current portion of long-term debt
+€26,610
Cash 2025
€17,655
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €438,556 | €1,310,446 | +€871,890 | +199% |
| Fixed assets | 21/28 | €351,700 | €1,246,139 | +€894,440 | +254% |
| Tangible fixed assets | 22/27 | €351,700 | €1,246,139 | +€894,440 | +254% |
| Land and buildings | 22 | €329,193 | €1,231,889 | +€902,696 | +274% |
| Plant, machinery and equipment | 23 | €1,605 | €1,204 | -€401 | -25.0% |
| Furniture and vehicles | 24 | €4,856 | €3,014 | -€1,842 | -37.9% |
| Other tangible fixed assets | 26 | €16,045 | €10,032 | -€6,013 | -37.5% |
| Current assets | 29/58 | €86,856 | €64,307 | -€22,549 | -26.0% |
| Amounts receivable within one year | 40/41 | €44,120 | €44,427 | +€307 | +0.7% |
| Trade receivables | 40 | €44,120 | €44,400 | +€280 | +0.6% |
| Other amounts receivable | 41 | - | €27 | +€27 | |
| Current investments | 50/53 | - | €100 | +€100 | |
| Cash at bank and in hand | 54/58 | €41,710 | €17,655 | -€24,055 | -57.7% |
| Deferred charges and accrued income | 490/1 | €1,026 | €2,125 | +€1,098 | +107% |
| Total equity and liabilities | 10/49 | €438,556 | €1,310,446 | +€871,890 | +199% |
| Equity | 10/15 | €8,754 | €10,471 | +€1,717 | +19.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €471 | +€471 | |
| Distributable reserves | 133 | - | €471 | +€471 | |
| Profit (loss) carried forward | 14 | -€1,246 | - | +€1,246 | |
| Amounts payable | 17/49 | €429,802 | €1,299,976 | +€870,173 | +202% |
| Amounts payable after more than one year | 17 | €157,451 | €914,565 | +€757,114 | +481% |
| Financial debts | 170/4 | €157,451 | €914,565 | +€757,114 | +481% |
| Amounts payable within one year | 42/48 | €272,351 | €381,910 | +€109,559 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €5,731 | €32,341 | +€26,610 | +464% |
| Trade debts | 44 | €11,351 | €27,149 | +€15,798 | +139% |
| Suppliers | 440/4 | €11,351 | €27,149 | +€15,798 | +139% |
| Taxes, remuneration and social security | 45 | €5,207 | €14,490 | +€9,283 | +178% |
| Taxes | 450/3 | €5,207 | €14,490 | +€9,283 | +178% |
| Other amounts payable | 47/48 | €250,062 | €307,930 | +€57,868 | +23.1% |
| Accrued charges and deferred income | 492/3 | - | €3,500 | +€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,793 | €131,396 | +€95,602 | +267% |
| Other operating charges | 640/8 | €2,722 | €8,230 | +€5,508 | +202% |
| Gross operating margin | 9900 | €48,117 | €175,196 | +€127,078 | +264% |
| Operating profit (loss) | 9901 | €9,602 | €35,570 | +€25,968 | +270% |
| Financial income | 75/76B | €26 | €151 | +€125 | +483% |
| Recurring financial income | 75 | €26 | €151 | +€125 | +483% |
| Financial charges | 65/66B | €10,875 | €33,989 | +€23,115 | +213% |
| Recurring financial charges | 65 | €10,875 | €33,989 | +€23,115 | +213% |
| Profit (loss) for the period before taxes | 9903 | -€1,246 | €1,733 | +€2,979 | |
| Income taxes | 67/77 | - | €16 | +€16 | |
| Profit (loss) for the period | 9904 | -€1,246 | €1,717 | +€2,964 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,246 | €1,717 | +€2,964 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.