FBO HOLDING: 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.
What changed
FBO HOLDING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€90,851
2024 · €31,415+€59,435
Equity
€4.0m
2024 · €3.9m+€90,797
Cash
€100,030
2024 · €187,038-€87,008
Balance sheet total
€6.9m
2024 · €6.4m+€519,649
Largest movements
Assets
- Financial fixed assets +€400,000
up €400,000 (+8.2%), from €4.9m to €5.3m
of which Affiliated companies: +€400,000
- Receivables within one year +€254,422
up €254,422 (+26.2%), from €971,294 to €1.2m
of which Other amounts receivable: +€199,209
- Cash -€87,008
down €87,008 (-46.5%), from €187,038 to €100,030
mainly Investment in fixed assets (net) (-€436,204) and Receivables within one year (-€254,422)
Equity and liabilities
- Other debts +€507,115
up €507,115 (+30.7%), from €1.7m to €2.2m
- Debts after one year -€96,963
down €96,963 (-30.9%), from €313,875 to €216,912
- Reserves +€90,797
up €90,797 (+16.9%), from €537,182 to €627,979
Income statement
- Turnover -€52,971
down €52,971 (-2.4%), from €2.2m to €2.2m
- Staff costs -€50,840
down €50,840 (-17.0%), from €298,922 to €248,082
- Services and other goods +€46,000
up €46,000 (+3.0%), from €1.5m to €1.6m
- Goods and materials +€34,911
up €34,911 (+34.1%), from €102,300 to €137,211
- Taxes +€32,717
up €32,717 (+303%), from €10,787 to €43,504
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.
Result 2024
€31,415
Turnover
-€52,971
Other operating income
+€12,275
Goods and materials
-€34,911
Services and other goods
-€46,000
Staff costs
+€50,840
Depreciation
-€15,016
Other operating charges
+€311
Other operating items
+€182,715
Financial income
+€7,693
Financial charges
-€12,784
Taxes
-€32,717
Result 2025
€90,851
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€444,300
Investment
-€436,204
Financing
-€95,104
Cash 2024
€187,038
From operations (derived)
+€444,300
Net result for the year
+€90,851
Depreciation
+€93,171
Receivables within one year
-€254,422
Deferred charges and accrued income
-€9,202
Trade debts
-€29,987
Tax, wage and social debts
+€34,199
Other debts
+€507,115
Accrued charges and deferred income
+€12,575
Investment (derived)
-€436,204
Investment in fixed assets (net)
-€436,204
Financing
-€95,104
Debts after one year
-€96,963
Current portion of long-term debt
-€760
Short-term financial debts
+€2,672
Contributions, distributions and other
-€54
Cash 2025
€100,030
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,360,401 | €6,880,049 | +€519,649 | +8.2% |
| Fixed assets | 21/28 | €5,181,316 | €5,524,350 | +€343,034 | +6.6% |
| Tangible fixed assets | 22/27 | €276,379 | €219,413 | -€56,966 | -20.6% |
| Land and buildings | 22 | €3,924 | €5,029 | +€1,106 | +28.2% |
| Plant, machinery and equipment | 23 | €8,917 | €11,120 | +€2,203 | +24.7% |
| Furniture and vehicles | 24 | €263,538 | €203,263 | -€60,275 | -22.9% |
| Financial fixed assets | 28 | €4,904,937 | €5,304,937 | +€400,000 | +8.2% |
| Affiliated companies | 280/1 | €4,854,937 | €5,254,937 | +€400,000 | +8.2% |
| Participating interests | 280 | €4,854,937 | €5,254,937 | +€400,000 | +8.2% |
| Other financial fixed assets | 284/8 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €1,179,085 | €1,355,700 | +€176,615 | +15.0% |
| Amounts receivable within one year | 40/41 | €971,294 | €1,225,715 | +€254,422 | +26.2% |
| Trade receivables | 40 | €354,631 | €409,844 | +€55,213 | +15.6% |
| Other amounts receivable | 41 | €616,663 | €815,872 | +€199,209 | +32.3% |
| Cash at bank and in hand | 54/58 | €187,038 | €100,030 | -€87,008 | -46.5% |
| Deferred charges and accrued income | 490/1 | €20,752 | €29,954 | +€9,202 | +44.3% |
| Total equity and liabilities | 10/49 | €6,360,401 | €6,880,049 | +€519,649 | +8.2% |
| Equity | 10/15 | €3,889,622 | €3,980,419 | +€90,797 | +2.3% |
| Contributions | 10/11 | €3,352,440 | €3,352,440 | = | 0.0% |
| Reserves | 13 | €537,182 | €627,979 | +€90,797 | +16.9% |
| Distributable reserves | 133 | €537,182 | €627,979 | +€90,797 | +16.9% |
| Amounts payable | 17/49 | €2,470,778 | €2,899,630 | +€428,852 | +17.4% |
| Amounts payable after more than one year | 17 | €313,875 | €216,912 | -€96,963 | -30.9% |
| Financial debts | 170/4 | €313,875 | €216,912 | -€96,963 | -30.9% |
| Credit institutions | 173 | €313,875 | €216,912 | -€96,963 | -30.9% |
| Amounts payable within one year | 42/48 | €2,110,993 | €2,624,232 | +€513,239 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €120,515 | €119,755 | -€760 | -0.6% |
| Financial debts | 43 | - | €2,672 | +€2,672 | |
| Credit institutions | 430/8 | - | €2,672 | +€2,672 | |
| Trade debts | 44 | €250,407 | €220,420 | -€29,987 | -12.0% |
| Suppliers | 440/4 | €250,407 | €220,420 | -€29,987 | -12.0% |
| Taxes, remuneration and social security | 45 | €87,060 | €121,259 | +€34,199 | +39.3% |
| Taxes | 450/3 | €36,008 | €74,169 | +€38,160 | +106% |
| Remuneration and social security | 454/9 | €51,052 | €47,090 | -€3,962 | -7.8% |
| Other amounts payable | 47/48 | €1,653,011 | €2,160,125 | +€507,115 | +30.7% |
| Accrued charges and deferred income | 492/3 | €45,911 | €58,486 | +€12,575 | +27.4% |
| Operating income | 70/76A | €2,274,795 | €2,226,197 | -€48,598 | -2.1% |
| Turnover | 70 | €2,207,540 | €2,154,568 | -€52,971 | -2.4% |
| Other operating income | 74 | €59,353 | €71,628 | +€12,275 | +20.7% |
| Non-recurring operating income | 76A | €7,903 | - | -€7,903 | |
| Operating charges | 60/66A | €2,187,646 | €2,041,805 | -€145,841 | -6.7% |
| Goods for resale, raw materials and consumables | 60 | €102,300 | €137,211 | +€34,911 | +34.1% |
| Purchases | 600/8 | €102,300 | €137,211 | +€34,911 | +34.1% |
| Services and other goods | 61 | €1,513,430 | €1,559,430 | +€46,000 | +3.0% |
| Remuneration, social security and pensions | 62 | €298,922 | €248,082 | -€50,840 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,155 | €93,171 | +€15,016 | +19.2% |
| Other operating charges | 640/8 | €4,221 | €3,910 | -€311 | -7.4% |
| Non-recurring operating charges | 66A | €190,618 | - | -€190,618 | |
| Operating profit (loss) | 9901 | €87,149 | €184,392 | +€97,243 | +112% |
| Financial income | 75/76B | €10,245 | €17,939 | +€7,693 | +75.1% |
| Recurring financial income | 75 | €10,245 | €17,939 | +€7,693 | +75.1% |
| Income from current assets | 751 | €10,245 | €17,939 | +€7,693 | +75.1% |
| Financial charges | 65/66B | €55,192 | €67,975 | +€12,784 | +23.2% |
| Recurring financial charges | 65 | €55,192 | €67,975 | +€12,784 | +23.2% |
| Debt charges | 650 | €55,192 | €67,975 | +€12,784 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €42,202 | €134,355 | +€92,153 | +218% |
| Income taxes | 67/77 | €10,787 | €43,504 | +€32,717 | +303% |
| Taxes | 670/3 | €10,787 | €43,504 | +€32,717 | +303% |
| Profit (loss) for the period | 9904 | €31,415 | €90,851 | +€59,435 | +189% |
| Profit (loss) for the period to be appropriated | 9905 | €31,415 | €90,851 | +€59,435 | +189% |
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 16 October 2026 via checked.be.