FOBIA: 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.
FOBIA
Largest movements
- Tangible fixed assets +€656,606
up €656,606 (+355%), from €184,773 to €841,378
of which Land and buildings: +€665,334
- Stocks and contracts +€149,759
up €149,759 (+112%), from €134,309 to €284,068
of which Stocks: +€99,259
- Receivables within one year -€131,987
down €131,987 (-43.0%), from €306,841 to €174,855
of which Trade receivables: -€138,682
- Debts after one year +€514,280
up €514,280 (+845%), from €60,863 to €575,143
- Short-term financial debts +€150,000
new in 2025: €150,000
- Reserves -€106,424
down €106,424 (-36.5%), from €291,371 to €184,947
of which Distributable reserves: -€106,424
- Other debts +€85,781
up €85,781 (+84.8%), from €101,176 to €186,957
- Current portion of long-term debt +€22,180
up €22,180 (+49.4%), from €44,888 to €67,068
- Gross operating margin +€112,389
up €112,389 (+39.3%), from €286,313 to €398,702
- Other operating charges +€77,562
up €77,562 (+1,433%), from €5,413 to €82,975
- Depreciation +€54,414
up €54,414 (+71.1%), from €76,482 to €130,895
- Staff costs +€46,265
up €46,265 (+45.0%), from €102,860 to €149,125
- Taxes -€22,055
down €22,055 (-76.9%), from €28,677 to €6,622
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 | €822,475 | €1,483,071 | +€660,596 | +80.3% |
| Fixed assets | 21/28 | €184,773 | €841,378 | +€656,606 | +355% |
| Tangible fixed assets | 22/27 | €184,773 | €841,378 | +€656,606 | +355% |
| Land and buildings | 22 | - | €665,334 | +€665,334 | |
| Plant, machinery and equipment | 23 | €131,716 | €94,919 | -€36,797 | -27.9% |
| Furniture and vehicles | 24 | €37,710 | €77,057 | +€39,347 | +104% |
| Leasing and similar rights | 25 | €12,692 | - | -€12,692 | |
| Other tangible fixed assets | 26 | €2,654 | €4,068 | +€1,414 | +53.3% |
| Current assets | 29/58 | €637,702 | €641,692 | +€3,990 | +0.6% |
| Amounts receivable after more than one year | 29 | €90,832 | €90,832 | = | 0.0% |
| Other amounts receivable | 291 | €90,832 | €90,832 | = | 0.0% |
| Stocks and contracts in progress | 3 | €134,309 | €284,068 | +€149,759 | +112% |
| Stocks | 30/36 | €134,309 | €233,568 | +€99,259 | +73.9% |
| Contracts in progress | 37 | - | €50,500 | +€50,500 | |
| Amounts receivable within one year | 40/41 | €306,841 | €174,855 | -€131,987 | -43.0% |
| Trade receivables | 40 | €250,048 | €111,366 | -€138,682 | -55.5% |
| Other amounts receivable | 41 | €56,793 | €63,489 | +€6,695 | +11.8% |
| Cash at bank and in hand | 54/58 | €91,525 | €78,272 | -€13,253 | -14.5% |
| Deferred charges and accrued income | 490/1 | €14,195 | €13,665 | -€529 | -3.7% |
| Total equity and liabilities | 10/49 | €822,475 | €1,483,071 | +€660,596 | +80.3% |
| Equity | 10/15 | €448,901 | €342,477 | -€106,424 | -23.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €291,371 | €184,947 | -€106,424 | -36.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €289,512 | €183,088 | -€106,424 | -36.8% |
| Profit (loss) carried forward | 14 | €138,938 | €138,938 | = | 0.0% |
| Amounts payable | 17/49 | €373,574 | €1,140,594 | +€767,020 | +205% |
| Amounts payable after more than one year | 17 | €60,863 | €575,143 | +€514,280 | +845% |
| Financial debts | 170/4 | €60,863 | €575,143 | +€514,280 | +845% |
| Amounts payable within one year | 42/48 | €312,711 | €557,167 | +€244,456 | +78.2% |
| Current portion of amounts payable after more than one year | 42 | €44,888 | €67,068 | +€22,180 | +49.4% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €150,238 | €135,736 | -€14,503 | -9.7% |
| Suppliers | 440/4 | €150,238 | €135,736 | -€14,503 | -9.7% |
| Taxes, remuneration and social security | 45 | €16,408 | €17,406 | +€998 | +6.1% |
| Taxes | 450/3 | €11,139 | €7,109 | -€4,029 | -36.2% |
| Remuneration and social security | 454/9 | €5,270 | €10,297 | +€5,027 | +95.4% |
| Other amounts payable | 47/48 | €101,176 | €186,957 | +€85,781 | +84.8% |
| Accrued charges and deferred income | 492/3 | - | €8,283 | +€8,283 | |
| Remuneration, social security and pensions | 62 | €102,860 | €149,125 | +€46,265 | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,482 | €130,895 | +€54,414 | +71.1% |
| Other operating charges | 640/8 | €5,413 | €82,975 | +€77,562 | +1,433% |
| Gross operating margin | 9900 | €286,313 | €398,702 | +€112,389 | +39.3% |
| Operating profit (loss) | 9901 | €101,558 | €35,706 | -€65,851 | -64.8% |
| Financial income | 75/76B | €2,492 | €2,662 | +€170 | +6.8% |
| Recurring financial income | 75 | €2,492 | €2,662 | +€170 | +6.8% |
| Financial charges | 65/66B | €3,341 | €23,946 | +€20,606 | +617% |
| Recurring financial charges | 65 | €3,341 | €23,946 | +€20,606 | +617% |
| Profit (loss) for the period before taxes | 9903 | €100,709 | €14,422 | -€86,288 | -85.7% |
| Income taxes | 67/77 | €28,677 | €6,622 | -€22,055 | -76.9% |
| Profit (loss) for the period | 9904 | €72,032 | €7,800 | -€64,232 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,032 | €7,800 | -€64,232 | -89.2% |
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 19 October 2026 via checked.be.