A-Forge: 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.
A-Forge
Largest movements
- Receivables within one year +€34,877
up €34,877 (+242.3%), from €14,394 to €49,271
- Cash -€14,272
down €14,272 (-19.0%), from €75,075 to €60,803
mainly Receivables within one year (-€34,877) and Tax, wage and social debts (-€8,220)
- Tangible fixed assets -€3,745
down €3,745 (-15.0%), from €24,963 to €21,218
of which Plant, machinery and equipment: -€7,037
- Trade debts +€16,721
up €16,721 (+79.0%), from €21,156 to €37,877
- Other debts +€8,920
up €8,920 (+20.2%), from €44,096 to €53,016
- Tax, wage and social debts -€8,220
down €8,220 (-91.9%), from €8,945 to €725
- Gross operating margin -€26,072
down €26,072 (-70.0%), from €37,258 to €11,186
- Taxes -€3,439
down €3,439 (-92.2%), from €3,730 to €291
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 | €117,296 | €134,553 | +€17,257 | +14.7% |
| Fixed assets | 21/28 | €25,613 | €21,868 | -€3,745 | -14.6% |
| Tangible fixed assets | 22/27 | €24,963 | €21,218 | -€3,745 | -15.0% |
| Plant, machinery and equipment | 23 | €20,694 | €13,657 | -€7,037 | -34.0% |
| Furniture and vehicles | 24 | €4,269 | €7,140 | +€2,871 | +67.3% |
| Other tangible fixed assets | 26 | - | €421 | +€421 | |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €91,683 | €112,685 | +€21,002 | +22.9% |
| Amounts receivable within one year | 40/41 | €14,394 | €49,271 | +€34,877 | +242.3% |
| Trade receivables | 40 | €14,394 | €49,271 | +€34,877 | +242.3% |
| Cash at bank and in hand | 54/58 | €75,075 | €60,803 | -€14,272 | -19.0% |
| Deferred charges and accrued income | 490/1 | €2,214 | €2,611 | +€397 | +17.9% |
| Total equity and liabilities | 10/49 | €117,296 | €134,553 | +€17,257 | +14.7% |
| Equity | 10/15 | €43,087 | €42,924 | -€163 | -0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,000 | €36,000 | = | 0.0% |
| Distributable reserves | 133 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €887 | €724 | -€163 | -18.4% |
| Amounts payable | 17/49 | €74,209 | €91,629 | +€17,420 | +23.5% |
| Amounts payable within one year | 42/48 | €74,197 | €91,618 | +€17,421 | +23.5% |
| Trade debts | 44 | €21,156 | €37,877 | +€16,721 | +79.0% |
| Suppliers | 440/4 | €21,156 | €37,877 | +€16,721 | +79.0% |
| Taxes, remuneration and social security | 45 | €8,945 | €725 | -€8,220 | -91.9% |
| Taxes | 450/3 | €8,945 | €725 | -€8,220 | -91.9% |
| Other amounts payable | 47/48 | €44,096 | €53,016 | +€8,920 | +20.2% |
| Accrued charges and deferred income | 492/3 | €12 | €11 | -€1 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,217 | €9,965 | -€252 | -2.5% |
| Other operating charges | 640/8 | €632 | €647 | +€15 | +2.4% |
| Gross operating margin | 9900 | €37,258 | €11,186 | -€26,072 | -70.0% |
| Operating profit (loss) | 9901 | €26,409 | €574 | -€25,835 | -97.8% |
| Financial income | 75/76B | €248 | €3 | -€245 | -98.8% |
| Recurring financial income | 75 | €248 | €3 | -€245 | -98.8% |
| Financial charges | 65/66B | €518 | €449 | -€69 | -13.3% |
| Recurring financial charges | 65 | €518 | €449 | -€69 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €26,139 | €128 | -€26,011 | -99.5% |
| Income taxes | 67/77 | €3,730 | €291 | -€3,439 | -92.2% |
| Profit (loss) for the period | 9904 | €22,409 | -€163 | -€22,572 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,409 | -€163 | -€22,572 |
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 8 October 2026 via checked.be.