A.G.Forêts: 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.
A.G.Forêts
Largest movements
- Cash -€45,334
down €45,334 (-73.3%), from €61,865 to €16,531
mainly Investment in fixed assets (net) (-€60,584) and Receivables within one year (-€13,127)
- Tangible fixed assets +€43,712
up €43,712 (+149%), from €29,277 to €72,990
of which Furniture and vehicles: +€33,752
- Receivables within one year +€13,127
up €13,127 (+1,240%), from €1,059 to €14,186
of which Other amounts receivable: +€12,890
- Deferred charges and accrued income +€1,513
up €1,513 (+928%), from €163 to €1,676
- Reserves +€9,881
up €9,881 (+11.3%), from €87,290 to €97,171
- Other debts +€4,822
up €4,822 (+56.2%), from €8,588 to €13,410
- Trade debts -€1,495
down €1,495 (-81.7%), from €1,831 to €336
- Gross operating margin -€8,646
down €8,646 (-21.2%), from €40,875 to €32,228
- Taxes -€5,336
down €5,336 (-57.6%), from €9,259 to €3,924
- Depreciation +€2,578
up €2,578 (+18.0%), from €14,294 to €16,872
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 | €112,364 | €125,382 | +€13,018 | +11.6% |
| Fixed assets | 21/28 | €29,277 | €72,990 | +€43,712 | +149% |
| Tangible fixed assets | 22/27 | €29,277 | €72,990 | +€43,712 | +149% |
| Land and buildings | 22 | - | €15,062 | +€15,062 | |
| Plant, machinery and equipment | 23 | €16,428 | €11,327 | -€5,101 | -31.1% |
| Furniture and vehicles | 24 | €12,849 | €46,601 | +€33,752 | +263% |
| Current assets | 29/58 | €83,087 | €52,392 | -€30,695 | -36.9% |
| Amounts receivable within one year | 40/41 | €1,059 | €14,186 | +€13,127 | +1,240% |
| Trade receivables | 40 | - | €237 | +€237 | |
| Other amounts receivable | 41 | €1,059 | €13,949 | +€12,890 | +1,217% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,865 | €16,531 | -€45,334 | -73.3% |
| Deferred charges and accrued income | 490/1 | €163 | €1,676 | +€1,513 | +928% |
| Total equity and liabilities | 10/49 | €112,364 | €125,382 | +€13,018 | +11.6% |
| Equity | 10/15 | €101,052 | €110,933 | +€9,881 | +9.8% |
| Contributions | 10/11 | €13,762 | €13,762 | = | 0.0% |
| Reserves | 13 | €87,290 | €97,171 | +€9,881 | +11.3% |
| Distributable reserves | 133 | €87,290 | €97,171 | +€9,881 | +11.3% |
| Amounts payable | 17/49 | €11,312 | €14,449 | +€3,136 | +27.7% |
| Amounts payable within one year | 42/48 | €11,312 | €14,304 | +€2,992 | +26.4% |
| Trade debts | 44 | €1,831 | €336 | -€1,495 | -81.7% |
| Suppliers | 440/4 | €1,831 | €336 | -€1,495 | -81.7% |
| Taxes, remuneration and social security | 45 | €893 | €558 | -€336 | -37.6% |
| Taxes | 450/3 | €893 | €558 | -€336 | -37.6% |
| Other amounts payable | 47/48 | €8,588 | €13,410 | +€4,822 | +56.2% |
| Accrued charges and deferred income | 492/3 | - | €145 | +€145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,294 | €16,872 | +€2,578 | +18.0% |
| Other operating charges | 640/8 | €871 | €909 | +€38 | +4.4% |
| Gross operating margin | 9900 | €40,875 | €32,228 | -€8,646 | -21.2% |
| Operating profit (loss) | 9901 | €25,710 | €14,448 | -€11,263 | -43.8% |
| Financial income | 75/76B | €315 | €315 | +€1 | +0.2% |
| Recurring financial income | 75 | €315 | €315 | +€1 | +0.2% |
| Financial charges | 65/66B | €115 | €125 | +€10 | +8.5% |
| Recurring financial charges | 65 | €115 | €125 | +€10 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €25,910 | €14,638 | -€11,272 | -43.5% |
| Income taxes | 67/77 | €9,259 | €3,924 | -€5,336 | -57.6% |
| Profit (loss) for the period | 9904 | €16,650 | €10,714 | -€5,936 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,650 | €10,714 | -€5,936 | -35.7% |
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 19 October 2026 via checked.be.