A LA FORGE: 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 LA FORGE
Largest movements
- Tangible fixed assets -€32,064
down €32,064 (-3.9%), from €823,441 to €791,377
of which Land and buildings: -€25,091
- Debts after one year -€65,687
down €65,687 (-8.5%), from €774,532 to €708,845
of which Financial debts: -€67,387
- Trade debts -€13,846
down €13,846 (-15.1%), from €91,556 to €77,710
- Profit (loss) carried forward +€13,225
up €13,225 (+15.4%), from €85,970 to €99,195
- Current portion of long-term debt +€12,797
up €12,797 (+23.3%), from €55,022 to €67,818
- Tax, wage and social debts +€12,254
up €12,254 (+119%), from €10,313 to €22,567
of which Taxes: +€11,177
- Gross operating margin +€36,647
up €36,647 (+17.3%), from €211,933 to €248,580
- Depreciation +€10,735
up €10,735 (+19.0%), from €56,499 to €67,233
- Financial charges +€10,633
up €10,633 (+57.8%), from €18,388 to €29,021
- Staff costs -€6,191
down €6,191 (-4.5%), from €138,117 to €131,926
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 | €1,140,438 | €1,099,124 | -€41,313 | -3.6% |
| Fixed assets | 21/28 | €849,669 | €810,798 | -€38,870 | -4.6% |
| Intangible fixed assets | 21 | €26,228 | €19,421 | -€6,806 | -26.0% |
| Tangible fixed assets | 22/27 | €823,441 | €791,377 | -€32,064 | -3.9% |
| Land and buildings | 22 | €735,239 | €710,147 | -€25,091 | -3.4% |
| Plant, machinery and equipment | 23 | €55,666 | €58,648 | +€2,982 | +5.4% |
| Furniture and vehicles | 24 | €32,537 | €22,582 | -€9,955 | -30.6% |
| Current assets | 29/58 | €290,769 | €288,326 | -€2,443 | -0.8% |
| Stocks and contracts in progress | 3 | €132,763 | €135,513 | +€2,750 | +2.1% |
| Stocks | 30/36 | €132,763 | €135,513 | +€2,750 | +2.1% |
| Amounts receivable within one year | 40/41 | €94,901 | €92,382 | -€2,519 | -2.7% |
| Trade receivables | 40 | €77,630 | €87,636 | +€10,006 | +12.9% |
| Other amounts receivable | 41 | €17,271 | €4,746 | -€12,526 | -72.5% |
| Cash at bank and in hand | 54/58 | €55,641 | €56,200 | +€559 | +1.0% |
| Deferred charges and accrued income | 490/1 | €7,464 | €4,231 | -€3,233 | -43.3% |
| Total equity and liabilities | 10/49 | €1,140,438 | €1,099,124 | -€41,313 | -3.6% |
| Equity | 10/15 | €178,959 | €192,184 | +€13,225 | +7.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €30,989 | €30,989 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,970 | €99,195 | +€13,225 | +15.4% |
| Amounts payable | 17/49 | €961,478 | €906,940 | -€54,538 | -5.7% |
| Amounts payable after more than one year | 17 | €774,532 | €708,845 | -€65,687 | -8.5% |
| Financial debts | 170/4 | €774,532 | €707,145 | -€67,387 | -8.7% |
| Other amounts payable | 178/9 | - | €1,700 | +€1,700 | |
| Amounts payable within one year | 42/48 | €186,891 | €198,095 | +€11,204 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €55,022 | €67,818 | +€12,797 | +23.3% |
| Trade debts | 44 | €91,556 | €77,710 | -€13,846 | -15.1% |
| Suppliers | 440/4 | €91,556 | €77,710 | -€13,846 | -15.1% |
| Taxes, remuneration and social security | 45 | €10,313 | €22,567 | +€12,254 | +119% |
| Taxes | 450/3 | €0 | €11,177 | +€11,177 | |
| Remuneration and social security | 454/9 | €10,313 | €11,390 | +€1,077 | +10.4% |
| Other amounts payable | 47/48 | €30,000 | €30,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €56 | €0 | -€56 | -100% |
| Remuneration, social security and pensions | 62 | €138,117 | €131,926 | -€6,191 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,499 | €67,233 | +€10,735 | +19.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,273 | €0 | +€2,273 | |
| Other operating charges | 640/8 | €9,734 | €9,504 | -€230 | -2.4% |
| Gross operating margin | 9900 | €211,933 | €248,580 | +€36,647 | +17.3% |
| Operating profit (loss) | 9901 | €9,857 | €39,917 | +€30,060 | +305% |
| Financial income | 75/76B | €2,071 | €2,954 | +€883 | +42.6% |
| Recurring financial income | 75 | €2,071 | €2,954 | +€883 | +42.6% |
| Financial charges | 65/66B | €18,388 | €29,021 | +€10,633 | +57.8% |
| Recurring financial charges | 65 | €18,388 | €29,021 | +€10,633 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,460 | €13,849 | +€20,310 | |
| Income taxes | 67/77 | €334 | €625 | +€291 | +87.0% |
| Profit (loss) for the period | 9904 | -€6,794 | €13,225 | +€20,019 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,794 | €13,225 | +€20,019 |
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 26 October 2026 via checked.be.