FEBACO: 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.
FEBACO
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€162,827
up €162,827 (+970.5%), from €16,778 to €179,605
mainly Current investments (+€200,000) and Depreciation (+€50,061)
- Tangible fixed assets -€46,861
down €46,861 (-4.4%), from €1.1m to €1.0m
of which Land and buildings: -€32,460
- Receivables within one year -€19,264
down €19,264 (-31.6%), from €60,894 to €41,630
of which Trade receivables: -€19,664
- Debts after one year -€81,667
down €81,667 (-10.3%), from €790,000 to €708,334
- Depreciation -€32,800
down €32,800 (-39.6%), from €82,861 to €50,061
- Financial charges +€14,333
up €14,333 (+85.0%), from €16,859 to €31,192
- Other operating charges +€5,527
up €5,527 (+41.6%), from €13,292 to €18,819
- Taxes -€4,566
down €4,566 (-95.0%), from €4,804 to €238
- Financial income -€4,550
down €4,550 (-68.1%), from €6,677 to €2,127
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 | €1,332,496 | €1,230,806 | -€101,690 | -7.6% |
| Fixed assets | 21/28 | €1,054,824 | €1,007,963 | -€46,861 | -4.4% |
| Tangible fixed assets | 22/27 | €1,054,824 | €1,007,963 | -€46,861 | -4.4% |
| Land and buildings | 22 | €1,017,498 | €985,037 | -€32,460 | -3.2% |
| Furniture and vehicles | 24 | €37,326 | €22,925 | -€14,401 | -38.6% |
| Current assets | 29/58 | €277,672 | €222,843 | -€54,829 | -19.7% |
| Amounts receivable within one year | 40/41 | €60,894 | €41,630 | -€19,264 | -31.6% |
| Trade receivables | 40 | €51,694 | €32,030 | -€19,664 | -38.0% |
| Other amounts receivable | 41 | €9,200 | €9,600 | +€400 | +4.3% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €16,778 | €179,605 | +€162,827 | +970.5% |
| Deferred charges and accrued income | 490/1 | - | €1,607 | +€1,607 | |
| Total equity and liabilities | 10/49 | €1,332,496 | €1,230,806 | -€101,690 | -7.6% |
| Equity | 10/15 | €220,742 | €202,880 | -€17,863 | -8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €227,293 | €221,083 | -€6,211 | -2.7% |
| Tax-exempt reserves | 132 | €82,660 | €78,309 | -€4,351 | -5.3% |
| Distributable reserves | 133 | €144,633 | €142,773 | -€1,860 | -1.3% |
| Profit (loss) carried forward | 14 | -€25,151 | -€36,803 | -€11,652 | -46.3% |
| Provisions and deferred taxes | 16 | €20,665 | €19,577 | -€1,088 | -5.3% |
| Deferred taxes | 168 | €20,665 | €19,577 | -€1,088 | -5.3% |
| Amounts payable | 17/49 | €1,091,089 | €1,008,349 | -€82,740 | -7.6% |
| Amounts payable after more than one year | 17 | €790,000 | €708,334 | -€81,667 | -10.3% |
| Financial debts | 170/4 | €790,000 | €708,334 | -€81,667 | -10.3% |
| Amounts payable within one year | 42/48 | €301,088 | €300,015 | -€1,073 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €46,667 | €46,667 | = | 0.0% |
| Trade debts | 44 | €601 | €1,640 | +€1,038 | +172.7% |
| Suppliers | 440/4 | €601 | €1,640 | +€1,038 | +172.7% |
| Taxes, remuneration and social security | 45 | €12,737 | €18,534 | +€5,798 | +45.5% |
| Taxes | 450/3 | €9,987 | €13,034 | +€3,048 | +30.5% |
| Remuneration and social security | 454/9 | €2,750 | €5,500 | +€2,750 | +100.0% |
| Other amounts payable | 47/48 | €241,084 | €233,175 | -€7,909 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,861 | €50,061 | -€32,800 | -39.6% |
| Other operating charges | 640/8 | €13,292 | €18,819 | +€5,527 | +41.6% |
| Gross operating margin | 9900 | €80,550 | €79,233 | -€1,317 | -1.6% |
| Operating profit (loss) | 9901 | -€15,603 | €10,352 | +€25,956 | |
| Financial income | 75/76B | €6,677 | €2,127 | -€4,550 | -68.1% |
| Recurring financial income | 75 | €6,677 | €2,127 | -€4,550 | -68.1% |
| Financial charges | 65/66B | €16,859 | €31,192 | +€14,333 | +85.0% |
| Recurring financial charges | 65 | €16,859 | €31,192 | +€14,333 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,785 | -€18,712 | +€7,073 | +27.4% |
| Transfer from deferred taxes | 780 | €1,088 | €1,088 | = | 0.0% |
| Income taxes | 67/77 | €4,804 | €238 | -€4,566 | -95.0% |
| Profit (loss) for the period | 9904 | -€29,501 | -€17,863 | +€11,639 | +39.5% |
| Transfer from tax-exempt reserves | 789 | €4,351 | €4,351 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,151 | -€13,512 | +€11,639 | +46.3% |
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 11 October 2026 via checked.be.