254FOREST: what changed
Two fiscal 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.
254FOREST
Largest movements
- Tangible fixed assets -€131,405
down €131,405 (-4.2%), from €3.2m to €3.0m
of which Land and buildings: -€122,412
- Cash -€117,399
down €117,399 (-85.5%), from €137,333 to €19,934
mainly Net result for the year (-€233,202) and Debts after one year (-€61,420)
- Receivables within one year -€57,437
down €57,437 (-66.4%), from €86,564 to €29,127
of which Trade receivables: -€49,768
- Profit (loss) carried forward -€233,202
down €233,202 (-81.2%), from -€287,336 to -€520,538
- Revaluation surpluses -€67,587
down €67,587 (-4.8%), from €1.4m to €1.3m
- Reserves +€67,587
up €67,587 (+35.5%), from €190,601 to €258,188
of which Distributable reserves: +€67,587
- Debts after one year -€61,420
down €61,420 (-6.0%), from €1.0m to €967,574
of which Financial debts: -€45,666
- Gross operating margin -€306,464
down €306,464, from €277,948 to -€28,516
- Staff costs -€39,964
down €39,964 (-42.7%), from €93,491 to €53,527
- Other operating charges -€14,944
down €14,944 (-52.9%), from €28,241 to €13,296
- Depreciation -€7,468
down €7,468 (-5.5%), from €136,066 to €128,597
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.
Cash bridge derived
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 | €3,388,751 | €3,079,276 | -€309,475 | -9.1% |
| Fixed assets | 21/28 | €3,161,514 | €3,030,109 | -€131,405 | -4.2% |
| Tangible fixed assets | 22/27 | €3,161,514 | €3,030,109 | -€131,405 | -4.2% |
| Land and buildings | 22 | €3,099,637 | €2,977,225 | -€122,412 | -3.9% |
| Plant, machinery and equipment | 23 | €2,027 | €70 | -€1,957 | -96.5% |
| Furniture and vehicles | 24 | €44,296 | €39,605 | -€4,691 | -10.6% |
| Other tangible fixed assets | 26 | €15,555 | €13,210 | -€2,345 | -15.1% |
| Current assets | 29/58 | €227,237 | €49,167 | -€178,071 | -78.4% |
| Amounts receivable within one year | 40/41 | €86,564 | €29,127 | -€57,437 | -66.4% |
| Trade receivables | 40 | €58,034 | €8,266 | -€49,768 | -85.8% |
| Other amounts receivable | 41 | €28,530 | €20,861 | -€7,669 | -26.9% |
| Cash at bank and in hand | 54/58 | €137,333 | €19,934 | -€117,399 | -85.5% |
| Deferred charges and accrued income | 490/1 | €3,340 | €105 | -€3,235 | -96.9% |
| Total equity and liabilities | 10/49 | €3,388,751 | €3,079,276 | -€309,475 | -9.1% |
| Equity | 10/15 | €2,250,451 | €2,017,249 | -€233,202 | -10.4% |
| Contributions | 10/11 | €930,685 | €930,685 | = | 0.0% |
| Revaluation surpluses | 12 | €1,416,501 | €1,348,914 | -€67,587 | -4.8% |
| Reserves | 13 | €190,601 | €258,188 | +€67,587 | +35.5% |
| Non-distributable reserves | 130/1 | €1,369 | €1,369 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,369 | €1,369 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,470 | €4,470 | = | 0.0% |
| Distributable reserves | 133 | €184,761 | €252,348 | +€67,587 | +36.6% |
| Profit (loss) carried forward | 14 | -€287,336 | -€520,538 | -€233,202 | -81.2% |
| Amounts payable | 17/49 | €1,138,300 | €1,062,027 | -€76,274 | -6.7% |
| Amounts payable after more than one year | 17 | €1,028,995 | €967,574 | -€61,420 | -6.0% |
| Financial debts | 170/4 | €412,715 | €367,050 | -€45,666 | -11.1% |
| Other amounts payable | 178/9 | €616,279 | €600,525 | -€15,755 | -2.6% |
| Amounts payable within one year | 42/48 | €105,140 | €94,453 | -€10,688 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €44,826 | €45,666 | +€839 | +1.9% |
| Trade debts | 44 | €31,667 | €3,971 | -€27,696 | -87.5% |
| Suppliers | 440/4 | €31,667 | €3,971 | -€27,696 | -87.5% |
| Taxes, remuneration and social security | 45 | €12,321 | €1,737 | -€10,584 | -85.9% |
| Taxes | 450/3 | €10,255 | €257 | -€9,997 | -97.5% |
| Remuneration and social security | 454/9 | €2,066 | €1,479 | -€587 | -28.4% |
| Other amounts payable | 47/48 | €16,326 | €43,079 | +€26,753 | +163.9% |
| Accrued charges and deferred income | 492/3 | €4,165 | €0 | -€4,165 | -100.0% |
| Non-recurring operating income | 76A | €8,647 | €429 | -€8,218 | -95.0% |
| Remuneration, social security and pensions | 62 | €93,491 | €53,527 | -€39,964 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,066 | €128,597 | -€7,468 | -5.5% |
| Other operating charges | 640/8 | €28,241 | €13,296 | -€14,944 | -52.9% |
| Non-recurring operating charges | 66A | €26,136 | €617 | -€25,519 | -97.6% |
| Gross operating margin | 9900 | €277,948 | -€28,516 | -€306,464 | |
| Operating profit (loss) | 9901 | -€5,986 | -€224,554 | -€218,568 | -3651.0% |
| Financial income | 75/76B | €266 | €0 | -€266 | -100.0% |
| Recurring financial income | 75 | €266 | €0 | -€266 | -100.0% |
| Financial charges | 65/66B | €9,484 | €8,535 | -€949 | -10.0% |
| Recurring financial charges | 65 | €9,484 | €8,535 | -€949 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,204 | -€233,089 | -€217,885 | -1433.0% |
| Income taxes | 67/77 | €186 | €113 | -€73 | -39.3% |
| Profit (loss) for the period | 9904 | -€15,390 | -€233,202 | -€217,812 | -1415.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,390 | -€233,202 | -€217,812 | -1415.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.