ACTIVE

FIBO

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Financial year 2025 · closed on 31/12/2025

Net result

2,7 M €

+269.0% YoY

Gross margin

1,3 M €

-3.1% YoY

Equity

9,4 M €

+34.2% YoY

Workforce

5,3 ETP

-1.9% YoY

What does FIBO do?

FIBO is a Private limited company incorporated in 1993. Its main activity is: Activities of holding companies. Its registered office is in Malmedy. It employs on average 5,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0451.844.806

Incorporation

20/12/1993

Legal form

Private limited company

Registered office

Baugnez-Route de Luxembourg 16
4960 Malmedy · WallonieSee on map

Contributed capital

550 000,00 €

Latest accounts

31/12/2025

Average workforce

5,3 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 65231Reinsurance 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities+2

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,3 M €	-3.1%	1,3 M €	+1.8%	1,3 M €	+38.0%	941,3 k €	+10.7%	850,2 k €	+24.8%	681,5 k €	-6.1%	725,4 k €	+12.6%	644 k €	+0.8%	638,7 k €	+0.5%	635,6 k €	+0.8%	630,8 k €	-0.3%	632,8 k €	-0.2%	633,8 k €	+0.2%	632,7 k €	+1.0%	626,6 k €	-2.4%	642,1 k €	-7.7%	695,7 k €	+8.3%	642,2 k €	+8.7%	590,7 k €	+3.9%	568,8 k €
EBITDA	763 k €	-9.2%	839,9 k €	+2.2%	822 k €	+63.3%	503,3 k €	+8.3%	464,7 k €	+23.6%	375,9 k €	-17.2%	453,8 k €	+8.1%	419,8 k €	-11.6%	474,7 k €	+1.0%	470,2 k €	+3.4%	454,8 k €	-1.8%	463 k €	-0.2%	463,9 k €	-2.7%	476,9 k €	+0.0%	476,8 k €	-4.5%	499,3 k €	-11.5%	564,4 k €	+10.8%	509,1 k €	+6.7%	477,1 k €	+4.0%	458,7 k €
Operating result	727,8 k €	-8.0%	791 k €	+0.9%	784,1 k €	+64.8%	475,9 k €	+8.2%	439,7 k €	+33.9%	328,4 k €	-23.4%	428,5 k €	+8.6%	394,5 k €	-12.2%	449,3 k €	+0.6%	446,6 k €	+3.0%	433,7 k €	+19.0%	364,3 k €	-20.8%	459,9 k €	-2.8%	473 k €	+0.0%	472,9 k €	-4.5%	495,3 k €	-12.2%	564,2 k €	+19.9%	470,7 k €	-1.3%	477 k €	+4.0%	458,6 k €
Net result	2,7 M €	+269%	730,9 k €	-21.6%	932,1 k €	+41.6%	658,1 k €	-15.6%	780,1 k €	+42.4%	547,7 k €	-22.8%	709 k €	+5.8%	670,2 k €	-7.3%	722,6 k €	+0.8%	717,1 k €	-0.8%	722,8 k €	+11.6%	647,8 k €	-10.1%	720,5 k €	-21.5%	918,1 k €	+57.6%	582,4 k €	+34.4%	433,2 k €	-50.4%	873,9 k €	-5.9%	929 k €	+47.5%	629,7 k €	+35.4%	465 k €
Balance sheet
Equity	9,4 M €	+34.2%	7 M €	+7.7%	6,5 M €	+10.7%	5,9 M €	+6.5%	5,5 M €	+9.5%	5 M €	+5.2%	4,8 M €	+9.3%	4,4 M €	+9.2%	4 M €	+4.5%	3,8 M €	-0.3%	3,9 M €	+12.3%	3,4 M €	+5.8%	3,2 M €	+9.6%	3 M €	+7.9%	2,7 M €	+14.2%	2,4 M €	+8.7%	2,2 M €	+40.2%	1,6 M €	+32.8%	1,2 M €	+8.2%	1,1 M €
Total assets	13,2 M €	+5.8%	12,5 M €	-1.1%	12,6 M €	+1.6%	12,4 M €	-2.7%	12,7 M €	-0.1%	12,7 M €	+36.5%	9,3 M €	+76.2%	5,3 M €	+4.6%	5,1 M €	-9.1%	5,6 M €	+5.0%	5,3 M €	-0.3%	5,3 M €	+17.9%	4,5 M €	-0.6%	4,5 M €	+14.8%	4 M €	+7.8%	3,7 M €	+1.5%	3,6 M €	+5.9%	3,4 M €	+30.0%	2,6 M €	+13.1%	2,3 M €
Cash	793,5 k €	+380%	165,2 k €	-45.4%	302,3 k €	-21.9%	387,2 k €	-49.8%	771 k €	+13.6%	678,5 k €	+81.7%	373,5 k €	-40.5%	627,4 k €	+167%	235,3 k €	-70.0%	785,2 k €	+52.7%	514,3 k €	+72.0%	299,1 k €	-31.4%	436,1 k €	-42.1%	753,4 k €	+92.2%	392,1 k €	+78.0%	220,2 k €	-20.2%	275,9 k €	-60.6%	700 k €	+30.9%	534,7 k €	+131%	231,5 k €
Debts	3,8 M €	-27.6%	5,2 M €	-10.7%	5,8 M €	-6.7%	6,2 M €	-9.9%	6,9 M €	-6.4%	7,4 M €	+75.3%	4,2 M €	+636%	573,4 k €	-17.7%	696,5 k €	-48.5%	1,4 M €	+28.7%	1,1 M €	-28.5%	1,5 M €	+77.4%	828,2 k €	-26.2%	1,1 M €	+53.0%	733,9 k €	-10.1%	816 k €	-12.5%	932,8 k €	-30.7%	1,3 M €	+45.7%	924,1 k €	+36.1%	678,9 k €
Other
Workforce	5,3 ETP	-1.9%	5,4 ETP	-6.9%	5,8 ETP	0.0%	5,8 ETP	+3.6%	5,6 ETP	+16.7%	4,8 ETP	+26.3%	3,8 ETP	+22.6%	3,1 ETP	+14.8%	2,7 ETP	-3.6%	2,8 ETP	-3.4%	2,9 ETP	0.0%	2,9 ETP	-6.5%	3,1 ETP	+14.8%	2,7 ETP	0.0%	2,7 ETP	0.0%	2,7 ETP	0.0%	2,7 ETP	0.0%	2,7 ETP	+3.8%	2,6 ETP	0.0%	2,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

MA CAMPAGNE GESTION

Director · since 06 juin 2003 · 0477.759.444

Represented by Michel BODARWE

Active

Jean-Marie BODARWE

Director · since 03 juin 1997

Active

Ended mandates

MA CAMPAGNE GESTION

Manager · since 06 juin 2003 · 0477.759.444

Represented by Michel BODARWE

Ended

MA CAMPAGNE GESTION

Manager · since 06 juin 2003 · 0477.759.444

Represented by Michel BODARWE

Ended

Herman BODARWE

Director · since 04 juin 1999 · until 06 mai 2021

Ended

Herman BODARWE

Manager · since 04 juin 1999

Ended

At this address

Other companies at this address

Company	CBE no.
A. DETHIER● Active	0415.035.878
AFIMAN● Active	0896.003.747
BODARWE CARRIERES● Active	0416.628.559
BODARWE IMMO● Active	0465.525.665
Boreta● Active	0402.317.495
CARRIERES SCHAUSS● Active	0445.677.881
LA BORGUEUSE HE● Active	0753.707.123
PIERRE DE WAIMES● Active	0439.273.408
PROBEMAL● Active	0429.052.675
RACE WORLD HOLDING● Active	0731.818.280
TRANSPORTS BODARWE MALMEDY● Active	0880.876.301

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	07/07/2026	12/08/2025	09/07/2024	06/06/2023	10/06/2022	21/06/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/06/2026	07/07/2026	French	PDF
Abridged model	31/12/2024	06/06/2025	12/08/2025	French	PDF
Abridged model	31/12/2023	07/06/2024	09/07/2024	French	PDF
Abridged model	31/12/2022	02/06/2023	06/06/2023	French	PDF
Abridged model	31/12/2021	03/06/2022	10/06/2022	French	PDF
Abridged model	31/12/2020	04/06/2021	21/06/2021	French	PDF
Abridged model	31/12/2019	05/06/2020	22/06/2020	French	PDF
Abridged model	31/12/2018	07/06/2019	12/06/2019	French	PDF
Abridged model	31/12/2017	01/06/2018	18/06/2018	French	PDF
Abridged model	31/12/2016	02/06/2017	12/06/2017	French	PDF
Abridged model	31/12/2015	03/06/2016	06/06/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	12/06/2015	French	PDF
Abridged model	31/12/2013	06/06/2014	11/06/2014	French	PDF
Abridged model	31/12/2012	07/06/2013	12/06/2013	French	PDF
Abridged model	31/12/2011	01/06/2012	11/07/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	08/06/2011	French	PDF
Abridged model	31/12/2009	04/06/2010	07/06/2010	French	PDF
Abridged model	31/12/2008	05/06/2009	16/07/2009	French	PDF
Abridged model	31/12/2007	06/06/2008	20/06/2008	French	PDF
Abridged model	31/12/2006	01/06/2007	03/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

MA CAMPAGNE GESTION

Director · since 06 juin 2003 · 0477.759.444

Represented by Michel BODARWE

Active

Jean-Marie BODARWE

Director · since 03 juin 1997

Active

Ended mandates

MA CAMPAGNE GESTION

Manager · since 06 juin 2003 · 0477.759.444

Represented by Michel BODARWE

Ended

MA CAMPAGNE GESTION

Manager · since 06 juin 2003 · 0477.759.444

Represented by Michel BODARWE

Ended

Herman BODARWE

Director · since 04 juin 1999 · until 06 mai 2021

Ended

Herman BODARWE

Manager · since 04 juin 1999

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/06/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates28/05/2021
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Other08/03/2018
OBJET
PDF
Capital / shares01/08/2017
CAPITAL, ACTIONS
PDF
Capital / shares09/07/2004
ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates26/06/2003
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20252,7 M €↑
2024
Annual accounts 2024730,9 k €↓
2023
Annual accounts 2023932,1 k €↑
2022
Annual accounts 2022658,1 k €↓
2021
Annual accounts 2021780,1 k €↑
2020
Annual accounts 2020547,7 k €↓
2019
Annual accounts 2019709 k €↑
2018
Annual accounts 2018670,2 k €↓
2017
Annual accounts 2017722,6 k €↑
2016
Annual accounts 2016717,1 k €↓
2015
Annual accounts 2015722,8 k €↑
2014
Annual accounts 2014647,8 k €↓
2013
Annual accounts 2013720,5 k €↓
2012
Annual accounts 2012918,1 k €↑
2011
Annual accounts 2011582,4 k €↑
2010
Annual accounts 2010433,2 k €↓
2009
Annual accounts 2009873,9 k €↓
2008
Annual accounts 2008929 k €↑
2007
Annual accounts 2007629,7 k €↑
2006
Annual accounts 2006465 k €
20/12/1993
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

FIBO

Overview

What does FIBO do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline