FONCIBEL: 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.
FONCIBEL
Largest movements
- Financial fixed assets -€81.4m
no longer reported in 2025 (was €81.4m)
- Cash +€9.2m
up €9.2m (+524%), from €1.8m to €10.9m
mainly Investment in fixed assets (net) (+€81.4m) and Receivables within one year (+€3.0m)
- Receivables within one year -€3.0m
no longer reported in 2025 (was €3.0m)
of which Other amounts receivable: -€3.0m
- Debts after one year -€61.5m
no longer reported in 2025 (was €61.5m)
- Profit (loss) carried forward -€9.9m
down €9.9m, from €360,939 to -€9.6m
- Current portion of long-term debt -€2.0m
no longer reported in 2025 (was €2.0m)
- Tax, wage and social debts -€904,322
down €904,322 (-90.3%), from €1.0m to €96,682
- Financial charges +€8.7m
up €8.7m (+259%), from €3.4m to €12.1m
of which Non-recurring financial charges: +€9.9m
- Financial income -€1.4m
down €1.4m (-34.7%), from €3.9m to €2.6m
- Taxes -€561,663
down €561,663 (-58.3%), from €963,066 to €401,403
- Gross operating margin +€28,968
up €28,968 (+60.2%), from -€48,112 to -€19,144
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 | €86,120,498 | €10,921,844 | -€75.2m | -87.3% |
| Fixed assets | 21/28 | €81,378,488 | - | -€81.4m | |
| Financial fixed assets | 28 | €81,378,488 | - | -€81.4m | |
| Current assets | 29/58 | €4,742,010 | €10,921,844 | +€6.2m | +130% |
| Amounts receivable within one year | 40/41 | €2,991,798 | - | -€3.0m | |
| Trade receivables | 40 | €680 | - | -€680 | |
| Other amounts receivable | 41 | €2,991,118 | - | -€3.0m | |
| Cash at bank and in hand | 54/58 | €1,750,212 | €10,921,844 | +€9.2m | +524% |
| Total equity and liabilities | 10/49 | €86,120,498 | €10,921,844 | -€75.2m | -87.3% |
| Equity | 10/15 | €20,749,849 | €10,825,162 | -€9.9m | -47.8% |
| Contributions | 10/11 | €20,200,000 | €20,200,000 | = | 0.0% |
| Capital | 10 | €20,200,000 | €20,200,000 | = | 0.0% |
| Issued capital | 100 | €20,200,000 | €20,200,000 | = | 0.0% |
| Reserves | 13 | €188,910 | €188,910 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €188,910 | €188,910 | -€0 | 0.0% |
| Legal reserve | 130 | €188,910 | €188,910 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €360,939 | -€9,563,748 | -€9.9m | |
| Amounts payable | 17/49 | €65,370,648 | €96,682 | -€65.3m | -99.9% |
| Amounts payable after more than one year | 17 | €61,500,000 | - | -€61.5m | |
| Financial debts | 170/4 | €61,500,000 | - | -€61.5m | |
| Amounts payable within one year | 42/48 | €3,870,648 | €96,682 | -€3.8m | -97.5% |
| Current portion of amounts payable after more than one year | 42 | €2,000,000 | - | -€2.0m | |
| Trade debts | 44 | €26,156 | - | -€26,156 | |
| Suppliers | 440/4 | €26,156 | - | -€26,156 | |
| Taxes, remuneration and social security | 45 | €1,001,004 | €96,682 | -€904,322 | -90.3% |
| Taxes | 450/3 | €1,001,004 | €96,682 | -€904,322 | -90.3% |
| Other amounts payable | 47/48 | €843,489 | - | -€843,489 | |
| Gross operating margin | 9900 | -€48,112 | -€19,144 | +€28,968 | +60.2% |
| Operating profit (loss) | 9901 | -€48,112 | -€19,144 | +€28,968 | +60.2% |
| Financial income | 75/76B | €3,943,023 | €2,574,815 | -€1.4m | -34.7% |
| Recurring financial income | 75 | €3,943,023 | €2,574,815 | -€1.4m | -34.7% |
| Financial charges | 65/66B | €3,361,920 | €12,078,955 | +€8.7m | +259% |
| Recurring financial charges | 65 | €3,361,920 | €2,200,883 | -€1.2m | -34.5% |
| Non-recurring financial charges | 66B | - | €9,878,072 | +€9.9m | |
| Profit (loss) for the period before taxes | 9903 | €532,992 | -€9,523,284 | -€10.1m | |
| Income taxes | 67/77 | €963,066 | €401,403 | -€561,663 | -58.3% |
| Profit (loss) for the period | 9904 | -€430,075 | -€9,924,687 | -€9.5m | -2,208% |
| Profit (loss) for the period to be appropriated | 9905 | -€430,075 | -€9,924,687 | -€9.5m | -2,208% |
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 20 October 2026 via checked.be.