FOBO: 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.
FOBO
Largest movements
- Cash -€65,064
down €65,064 (-58.7%), from €110,912 to €45,847
mainly Receivables within one year (-€53,858) and Other debts (-€37,983)
- Receivables within one year +€53,858
up €53,858 (+416%), from €12,948 to €66,806
of which Other amounts receivable: +€53,679
- Tangible fixed assets -€20,855
down €20,855 (-23.9%), from €87,152 to €66,297
- Stocks and contracts -€14,456
down €14,456 (-30.9%), from €46,770 to €32,314
- Deferred charges and accrued income +€3,057
up €3,057 (+43.0%), from €7,114 to €10,170
- Other debts -€37,983
down €37,983 (-95.6%), from €39,748 to €1,765
- Reserves -€23,595
down €23,595 (-22.3%), from €105,809 to €82,213
- Profit (loss) carried forward +€18,513
new in 2025: €18,513
- Trade debts +€10,774
up €10,774 (+24.2%), from €44,502 to €55,276
- Debts after one year -€5,876
no longer reported in 2025 (was €5,876)
- Gross operating margin -€52,115
down €52,115 (-21.6%), from €241,346 to €189,231
- Staff costs -€20,108
down €20,108 (-15.0%), from €133,932 to €113,824
- Depreciation -€16,140
down €16,140 (-33.7%), from €47,896 to €31,756
- Taxes -€5,737
down €5,737 (-44.1%), from €13,021 to €7,284
- Financial income -€5,097
down €5,097 (-80.7%), from €6,312 to €1,216
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 | €264,895 | €222,520 | -€42,375 | -16.0% |
| Fixed assets | 21/28 | €87,152 | €66,297 | -€20,855 | -23.9% |
| Tangible fixed assets | 22/27 | €87,152 | €66,297 | -€20,855 | -23.9% |
| Plant, machinery and equipment | 23 | €31,871 | €23,206 | -€8,665 | -27.2% |
| Furniture and vehicles | 24 | €23,385 | €14,606 | -€8,779 | -37.5% |
| Other tangible fixed assets | 26 | €31,897 | €28,485 | -€3,411 | -10.7% |
| Current assets | 29/58 | €177,743 | €156,223 | -€21,519 | -12.1% |
| Stocks and contracts in progress | 3 | €46,770 | €32,314 | -€14,456 | -30.9% |
| Stocks | 30/36 | €46,770 | €32,314 | -€14,456 | -30.9% |
| Amounts receivable within one year | 40/41 | €12,948 | €66,806 | +€53,858 | +416% |
| Trade receivables | 40 | €123 | €303 | +€180 | +147% |
| Other amounts receivable | 41 | €12,825 | €66,503 | +€53,679 | +419% |
| Current investments | 50/53 | - | €1,086 | +€1,086 | |
| Cash at bank and in hand | 54/58 | €110,912 | €45,847 | -€65,064 | -58.7% |
| Deferred charges and accrued income | 490/1 | €7,114 | €10,170 | +€3,057 | +43.0% |
| Total equity and liabilities | 10/49 | €264,895 | €222,520 | -€42,375 | -16.0% |
| Equity | 10/15 | €115,809 | €110,726 | -€5,082 | -4.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €105,809 | €82,213 | -€23,595 | -22.3% |
| Distributable reserves | 133 | €105,809 | €82,213 | -€23,595 | -22.3% |
| Profit (loss) carried forward | 14 | - | €18,513 | +€18,513 | |
| Amounts payable | 17/49 | €149,086 | €111,794 | -€37,292 | -25.0% |
| Amounts payable after more than one year | 17 | €5,876 | - | -€5,876 | |
| Financial debts | 170/4 | €5,876 | - | -€5,876 | |
| Amounts payable within one year | 42/48 | €143,210 | €111,794 | -€31,416 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €5,786 | €5,876 | +€90 | +1.6% |
| Trade debts | 44 | €44,502 | €55,276 | +€10,774 | +24.2% |
| Suppliers | 440/4 | €44,502 | €55,276 | +€10,774 | +24.2% |
| Advances received on contracts in progress | 46 | €20 | - | -€20 | |
| Taxes, remuneration and social security | 45 | €53,154 | €48,877 | -€4,277 | -8.0% |
| Taxes | 450/3 | €34,077 | €34,655 | +€578 | +1.7% |
| Remuneration and social security | 454/9 | €19,077 | €14,222 | -€4,855 | -25.4% |
| Other amounts payable | 47/48 | €39,748 | €1,765 | -€37,983 | -95.6% |
| Remuneration, social security and pensions | 62 | €133,932 | €113,824 | -€20,108 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,896 | €31,756 | -€16,140 | -33.7% |
| Other operating charges | 640/8 | €11,555 | €10,201 | -€1,354 | -11.7% |
| Non-recurring operating charges | 66A | - | €591 | +€591 | |
| Gross operating margin | 9900 | €241,346 | €189,231 | -€52,115 | -21.6% |
| Operating profit (loss) | 9901 | €47,963 | €32,858 | -€15,105 | -31.5% |
| Financial income | 75/76B | €6,312 | €1,216 | -€5,097 | -80.7% |
| Recurring financial income | 75 | €6,312 | €1,216 | -€5,097 | -80.7% |
| Financial charges | 65/66B | €8,893 | €8,277 | -€616 | -6.9% |
| Recurring financial charges | 65 | €8,893 | €8,277 | -€616 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €45,382 | €25,796 | -€19,585 | -43.2% |
| Income taxes | 67/77 | €13,021 | €7,284 | -€5,737 | -44.1% |
| Profit (loss) for the period | 9904 | €32,361 | €18,513 | -€13,848 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,361 | €18,513 | -€13,848 | -42.8% |
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 14 October 2026 via checked.be.