FABACO: 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.
What changed
FABACO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.7m
2024 · €2.7m+€1.0m
Equity
€35.5m
2024 · €31.8m+€3.7m
Cash
€3.5m
2024 · €195,273+€3.3m
Balance sheet total
€44.6m
2024 · €40.4m+€4.2m
Largest movements
Assets
- Financial fixed assets +€5.0m
up €5.0m (+19.5%), from €25.8m to €30.9m
of which Affiliated companies: +€5.0m
- Current investments -€3.6m
down €3.6m (-34.6%), from €10.2m to €6.7m
- Cash +€3.3m
up €3.3m (+1,688%), from €195,273 to €3.5m
mainly Net result for the year (+€3.7m) and Current investments (+€3.6m)
Equity and liabilities
- Reserves +€3.7m
up €3.7m (+14.9%), from €24.8m to €28.5m
of which Distributable reserves: +€3.7m
Income statement
- Turnover +€1.1m
up €1.1m (+28.3%), from €3.8m to €4.9m
- Financial income +€559,769
up €559,769 (+33.5%), from €1.7m to €2.2m
- Services and other goods +€296,372
up €296,372 (+57.1%), from €518,678 to €815,050
- Staff costs +€151,034
up €151,034 (+20.7%), from €730,918 to €881,952
- Taxes +€126,397
up €126,397 (+26.7%), from €473,933 to €600,330
of which Taxes: +€126,435
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.
Result 2024
€2.7m
Turnover
+€1.1m
Other operating income
+€7,909
Goods and materials
-€77,736
Services and other goods
-€296,372
Staff costs
-€151,034
Depreciation
-€1,150
Other operating charges
-€908
Other operating items
+€6,540
Financial income
+€559,769
Financial charges
+€44,391
Taxes
-€126,397
Result 2025
€3.7m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.5m
Investment
-€1.5m
Financing
+€340,563
Cash 2024
€195,273
From operations (derived)
+€4.5m
Net result for the year
+€3.7m
Depreciation
+€152,340
Receivables after one year
+€72,473
Smaller working-capital items
+€5,605
Receivables within one year
+€401,856
Deferred charges and accrued income
+€31,647
Trade debts
+€97,257
Tax, wage and social debts
+€29,239
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€5.1m
Current investments
+€3.6m
Financing
+€340,563
Debts after one year
+€358,719
Contributions, distributions and other
-€18,157
Cash 2025
€3.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,429,495 | €44,612,159 | +€4.2m | +10.3% |
| Fixed assets | 21/28 | €28,580,160 | €33,526,922 | +€4.9m | +17.3% |
| Tangible fixed assets | 22/27 | €2,762,340 | €2,672,130 | -€90,210 | -3.3% |
| Land and buildings | 22 | €2,713,654 | €2,638,580 | -€75,074 | -2.8% |
| Furniture and vehicles | 24 | €48,686 | €33,550 | -€15,136 | -31.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €25,817,819 | €30,854,792 | +€5.0m | +19.5% |
| Affiliated companies | 280/1 | €25,815,419 | €30,852,392 | +€5.0m | +19.5% |
| Participating interests | 280 | €24,717,542 | €29,175,998 | +€4.5m | +18.0% |
| Amounts receivable | 281 | €1,097,877 | €1,676,394 | +€578,517 | +52.7% |
| Other financial fixed assets | 284/8 | €2,400 | €2,400 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €11,849,335 | €11,085,237 | -€764,099 | -6.4% |
| Amounts receivable after more than one year | 29 | €180,000 | €107,527 | -€72,473 | -40.3% |
| Other amounts receivable | 291 | €180,000 | €107,527 | -€72,473 | -40.3% |
| Stocks and contracts in progress | 3 | €29,831 | €25,837 | -€3,994 | -13.4% |
| Stocks | 30/36 | €29,831 | €25,511 | -€4,319 | -14.5% |
| Goods purchased for resale | 34 | €29,831 | €25,511 | -€4,319 | -14.5% |
| Contracts in progress | 37 | - | €326 | +€326 | |
| Amounts receivable within one year | 40/41 | €1,151,771 | €749,915 | -€401,856 | -34.9% |
| Trade receivables | 40 | €949,951 | €607,839 | -€342,112 | -36.0% |
| Other amounts receivable | 41 | €201,820 | €142,076 | -€59,744 | -29.6% |
| Current investments | 50/53 | €10,247,707 | €6,697,707 | -€3.6m | -34.6% |
| Other investments | 51/53 | €10,247,707 | €6,697,707 | -€3.6m | -34.6% |
| Cash at bank and in hand | 54/58 | €195,273 | €3,491,144 | +€3.3m | +1,688% |
| Deferred charges and accrued income | 490/1 | €44,753 | €13,107 | -€31,647 | -70.7% |
| Total equity and liabilities | 10/49 | €40,429,495 | €44,612,159 | +€4.2m | +10.3% |
| Equity | 10/15 | €31,805,438 | €35,501,276 | +€3.7m | +11.6% |
| Contributions | 10/11 | €7,011,000 | €7,011,000 | = | 0.0% |
| Reserves | 13 | €24,776,405 | €28,473,325 | +€3.7m | +14.9% |
| Tax-exempt reserves | 132 | €1,243,794 | €1,243,794 | = | 0.0% |
| Distributable reserves | 133 | €23,532,610 | €27,229,531 | +€3.7m | +15.7% |
| Profit (loss) carried forward | 14 | €12,038 | €12,038 | = | 0.0% |
| Investment grants | 15 | €5,995 | €4,912 | -€1,083 | -18.1% |
| Provisions and deferred taxes | 16 | €551 | €451 | -€100 | -18.1% |
| Deferred taxes | 168 | €551 | €451 | -€100 | -18.1% |
| Amounts payable | 17/49 | €8,623,507 | €9,110,433 | +€486,926 | +5.6% |
| Amounts payable after more than one year | 17 | €8,227,641 | €8,586,361 | +€358,719 | +4.4% |
| Financial debts | 170/4 | €8,227,641 | €8,586,361 | +€358,719 | +4.4% |
| Other loans | 174 | €8,227,641 | €8,586,361 | +€358,719 | +4.4% |
| Amounts payable within one year | 42/48 | €395,866 | €524,072 | +€128,207 | +32.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €24,700 | €121,957 | +€97,257 | +394% |
| Suppliers | 440/4 | €24,700 | €121,957 | +€97,257 | +394% |
| Taxes, remuneration and social security | 45 | €355,602 | €384,841 | +€29,239 | +8.2% |
| Taxes | 450/3 | €214,052 | €208,236 | -€5,816 | -2.7% |
| Remuneration and social security | 454/9 | €141,550 | €176,605 | +€35,055 | +24.8% |
| Other amounts payable | 47/48 | €15,563 | €17,274 | +€1,711 | +11.0% |
| Operating income | 70/76A | €3,871,710 | €4,965,618 | +€1.1m | +28.3% |
| Turnover | 70 | €3,818,225 | €4,897,683 | +€1.1m | +28.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €326 | +€326 | |
| Other operating income | 74 | €52,659 | €60,568 | +€7,909 | +15.0% |
| Non-recurring operating income | 76A | €826 | €7,041 | +€6,215 | +752% |
| Operating charges | 60/66A | €1,770,905 | €2,298,104 | +€527,199 | +29.8% |
| Goods for resale, raw materials and consumables | 60 | €349,807 | €427,544 | +€77,736 | +22.2% |
| Purchases | 600/8 | €366,783 | €423,224 | +€56,441 | +15.4% |
| Change in stocks: decrease (increase) | 609 | -€16,976 | €4,319 | +€21,295 | |
| Services and other goods | 61 | €518,678 | €815,050 | +€296,372 | +57.1% |
| Remuneration, social security and pensions | 62 | €730,918 | €881,952 | +€151,034 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,190 | €152,340 | +€1,150 | +0.8% |
| Other operating charges | 640/8 | €20,310 | €21,218 | +€908 | +4.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €2,100,805 | €2,667,514 | +€566,708 | +27.0% |
| Financial income | 75/76B | €1,670,350 | €2,230,120 | +€559,769 | +33.5% |
| Recurring financial income | 75 | €1,670,350 | €2,230,120 | +€559,769 | +33.5% |
| Income from financial fixed assets | 750 | €1,391,254 | €2,060,979 | +€669,726 | +48.1% |
| Income from current assets | 751 | €277,444 | €167,895 | -€109,550 | -39.5% |
| Other financial income | 752/9 | €1,653 | €1,246 | -€407 | -24.6% |
| Financial charges | 65/66B | €627,799 | €583,408 | -€44,391 | -7.1% |
| Recurring financial charges | 65 | €627,799 | €583,408 | -€44,391 | -7.1% |
| Debt charges | 650 | €626,721 | €582,252 | -€44,469 | -7.1% |
| Other financial charges | 652/9 | €1,078 | €1,157 | +€79 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €3,143,357 | €4,314,225 | +€1.2m | +37.2% |
| Transfer from deferred taxes | 780 | €100 | €100 | = | 0.0% |
| Income taxes | 67/77 | €473,933 | €600,330 | +€126,397 | +26.7% |
| Taxes | 670/3 | €473,933 | €600,368 | +€126,435 | +26.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €38 | +€38 | |
| Profit (loss) for the period | 9904 | €2,669,523 | €3,713,995 | +€1.0m | +39.1% |
| Transfer from tax-exempt reserves | 789 | €1,090,390 | €0 | -€1.1m | -100% |
| Transfer to tax-exempt reserves | 689 | €968,300 | €0 | -€968,300 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €2,791,613 | €3,713,995 | +€922,382 | +33.0% |
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 25 October 2026 via checked.be.