FBR Management: 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.
FBR Management
Largest movements
- Financial fixed assets -€301,000
down €301,000 (-96.8%), from €311,062 to €10,062
- Cash +€257,100
up €257,100 (+225.3%), from €114,117 to €371,217
mainly Investment in fixed assets (net) (+€293,808) and Net result for the year (+€25,054)
- Other debts -€63,753
down €63,753 (-29.9%), from €213,565 to €149,812
- Profit (loss) carried forward +€24,221
up €24,221 (+5.6%), from €430,736 to €454,957
- Gross operating margin -€92,663
down €92,663, from €92,210 to -€453
- Financial charges -€49,364
down €49,364 (-85.4%), from €57,822 to €8,458
- Financial income +€34,004
up €34,004 (+454.0%), from €7,489 to €41,493
- Taxes -€10,537
down €10,537 (-84.2%), from €12,518 to €1,981
- Depreciation +€1,500
up €1,500 (+73.1%), from €2,051 to €3,551
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 | €984,806 | €937,014 | -€47,792 | -4.9% |
| Fixed assets | 21/28 | €319,908 | €22,549 | -€297,359 | -93.0% |
| Tangible fixed assets | 22/27 | €8,846 | €12,487 | +€3,641 | +41.2% |
| Land and buildings | 22 | €4,613 | €3,823 | -€790 | -17.1% |
| Furniture and vehicles | 24 | €4,233 | €8,664 | +€4,431 | +104.7% |
| Financial fixed assets | 28 | €311,062 | €10,062 | -€301,000 | -96.8% |
| Current assets | 29/58 | €664,898 | €914,465 | +€249,567 | +37.5% |
| Amounts receivable within one year | 40/41 | €548,378 | €540,785 | -€7,594 | -1.4% |
| Trade receivables | 40 | €19,844 | €6,606 | -€13,238 | -66.7% |
| Other amounts receivable | 41 | €528,534 | €534,178 | +€5,644 | +1.1% |
| Cash at bank and in hand | 54/58 | €114,117 | €371,217 | +€257,100 | +225.3% |
| Deferred charges and accrued income | 490/1 | €2,403 | €2,464 | +€61 | +2.5% |
| Total equity and liabilities | 10/49 | €984,806 | €937,014 | -€47,792 | -4.9% |
| Equity | 10/15 | €758,236 | €782,457 | +€24,221 | +3.2% |
| Contributions | 10/11 | €327,500 | €327,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €430,736 | €454,957 | +€24,221 | +5.6% |
| Amounts payable | 17/49 | €226,570 | €154,557 | -€72,014 | -31.8% |
| Amounts payable within one year | 42/48 | €226,570 | €154,557 | -€72,014 | -31.8% |
| Trade debts | 44 | €7,410 | €2,607 | -€4,804 | -64.8% |
| Suppliers | 440/4 | €7,410 | €2,607 | -€4,804 | -64.8% |
| Taxes, remuneration and social security | 45 | €5,595 | €2,138 | -€3,457 | -61.8% |
| Taxes | 450/3 | €4,602 | €1,138 | -€3,464 | -75.3% |
| Remuneration and social security | 454/9 | €993 | €1,000 | +€7 | +0.7% |
| Other amounts payable | 47/48 | €213,565 | €149,812 | -€63,753 | -29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,051 | €3,551 | +€1,500 | +73.1% |
| Other operating charges | 640/8 | €2,515 | €1,995 | -€520 | -20.7% |
| Gross operating margin | 9900 | €92,210 | -€453 | -€92,663 | |
| Operating profit (loss) | 9901 | €87,644 | -€5,999 | -€93,644 | |
| Financial income | 75/76B | €7,489 | €41,493 | +€34,004 | +454.0% |
| Recurring financial income | 75 | €7,489 | €41,493 | +€34,004 | +454.0% |
| Financial charges | 65/66B | €57,822 | €8,458 | -€49,364 | -85.4% |
| Recurring financial charges | 65 | €57,822 | €8,458 | -€49,364 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €37,311 | €27,035 | -€10,276 | -27.5% |
| Income taxes | 67/77 | €12,518 | €1,981 | -€10,537 | -84.2% |
| Profit (loss) for the period | 9904 | €24,793 | €25,054 | +€261 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,793 | €25,054 | +€261 | +1.1% |
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 2 October 2026 via checked.be.