FIBEPA: 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.
FIBEPA
Largest movements
- Receivables after one year +€120,830
new in 2025: €120,830
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Receivables within one year +€10,430
up €10,430 (+16.9%), from €61,568 to €71,998
of which Trade receivables: +€16,499
- Cash -€9,091
down €9,091 (-9.2%), from €98,972 to €89,881
mainly Receivables after one year (-€120,830) and Debts after one year (-€31,405)
- Tangible fixed assets -€5,672
down €5,672 (-10.5%), from €53,928 to €48,257
of which Land and buildings: -€5,909
- Reserves +€94,000
up €94,000 (+907%), from €10,360 to €104,360
of which Distributable reserves: +€94,000
- Debts after one year -€31,405
down €31,405 (-51.3%), from €61,165 to €29,759
- Financial income +€50,977
up €50,977 (+5,902%), from €864 to €51,841
of which Non-recurring financial income: +€50,000
- Gross operating margin +€36,994
up €36,994 (+17.7%), from €208,737 to €245,731
- Financial charges +€20,788
up €20,788 (+39.6%), from €52,435 to €73,223
- Taxes +€11,622
up €11,622 (+92.5%), from €12,559 to €24,181
- Staff costs +€3,963
up €3,963 (+4.4%), from €90,013 to €93,975
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €477,538 | €540,461 | +€62,923 | +13.2% |
| Fixed assets | 21/28 | €264,728 | €255,457 | -€9,272 | -3.5% |
| Intangible fixed assets | 21 | €10,800 | €7,200 | -€3,600 | -33.3% |
| Tangible fixed assets | 22/27 | €53,928 | €48,257 | -€5,672 | -10.5% |
| Land and buildings | 22 | €53,217 | €47,308 | -€5,909 | -11.1% |
| Furniture and vehicles | 24 | €711 | €949 | +€237 | +33.3% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €212,810 | €285,004 | +€72,195 | +33.9% |
| Amounts receivable after more than one year | 29 | - | €120,830 | +€120,830 | |
| Other amounts receivable | 291 | - | €120,830 | +€120,830 | |
| Amounts receivable within one year | 40/41 | €61,568 | €71,998 | +€10,430 | +16.9% |
| Trade receivables | 40 | €54,904 | €71,403 | +€16,499 | +30.1% |
| Other amounts receivable | 41 | €6,664 | €595 | -€6,069 | -91.1% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €98,972 | €89,881 | -€9,091 | -9.2% |
| Deferred charges and accrued income | 490/1 | €2,270 | €2,296 | +€26 | +1.1% |
| Total equity and liabilities | 10/49 | €477,538 | €540,461 | +€62,923 | +13.2% |
| Equity | 10/15 | €328,168 | €422,660 | +€94,492 | +28.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €10,360 | €104,360 | +€94,000 | +907% |
| Tax-exempt reserves | 132 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €95,860 | +€94,000 | +5,054% |
| Profit (loss) carried forward | 14 | €311,608 | €312,100 | +€492 | +0.2% |
| Amounts payable | 17/49 | €149,370 | €117,801 | -€31,569 | -21.1% |
| Amounts payable after more than one year | 17 | €61,165 | €29,759 | -€31,405 | -51.3% |
| Financial debts | 170/4 | €61,165 | €29,759 | -€31,405 | -51.3% |
| Amounts payable within one year | 42/48 | €88,205 | €87,863 | -€343 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €31,144 | €31,405 | +€261 | +0.8% |
| Trade debts | 44 | €20,301 | €20,808 | +€507 | +2.5% |
| Suppliers | 440/4 | €20,301 | €20,808 | +€507 | +2.5% |
| Taxes, remuneration and social security | 45 | €36,760 | €35,649 | -€1,111 | -3.0% |
| Taxes | 450/3 | €24,844 | €23,276 | -€1,568 | -6.3% |
| Remuneration and social security | 454/9 | €11,916 | €12,373 | +€457 | +3.8% |
| Accrued charges and deferred income | 492/3 | - | €179 | +€179 | |
| Non-recurring operating income | 76A | - | €10,500 | +€10,500 | |
| Remuneration, social security and pensions | 62 | €90,013 | €93,975 | +€3,963 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,269 | €10,002 | -€267 | -2.6% |
| Other operating charges | 640/8 | €2,091 | €1,698 | -€392 | -18.8% |
| Gross operating margin | 9900 | €208,737 | €245,731 | +€36,994 | +17.7% |
| Operating profit (loss) | 9901 | €106,366 | €140,055 | +€33,690 | +31.7% |
| Financial income | 75/76B | €864 | €51,841 | +€50,977 | +5,902% |
| Recurring financial income | 75 | €864 | €1,841 | +€977 | +113% |
| Non-recurring financial income | 76B | - | €50,000 | +€50,000 | |
| Financial charges | 65/66B | €52,435 | €73,223 | +€20,788 | +39.6% |
| Recurring financial charges | 65 | €52,435 | €73,223 | +€20,788 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €54,795 | €118,673 | +€63,879 | +117% |
| Income taxes | 67/77 | €12,559 | €24,181 | +€11,622 | +92.5% |
| Profit (loss) for the period | 9904 | €42,236 | €94,492 | +€52,257 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €42,236 | €94,492 | +€52,257 | +124% |
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 15 October 2026 via checked.be.