AD Forest: 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.
AD Forest
Largest movements
- Tangible fixed assets -€23,865
down €23,865 (-37.0%), from €64,573 to €40,708
- Receivables within one year +€4,073
up €4,073 (+44.0%), from €9,252 to €13,325
of which Other amounts receivable: +€4,073
- Profit (loss) carried forward -€54,775
down €54,775 (-49.9%), from -€109,695 to -€164,470
- Other debts +€35,698
up €35,698 (+18.8%), from €190,195 to €225,893
- Gross operating margin +€13,432
up €13,432 (+32.8%), from -€40,908 to -€27,476
- Other operating charges -€2,839
down €2,839 (-77.7%), from €3,654 to €815
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 | €86,983 | €67,623 | -€19,360 | -22.3% |
| Fixed assets | 21/28 | €77,729 | €53,865 | -€23,865 | -30.7% |
| Tangible fixed assets | 22/27 | €64,573 | €40,708 | -€23,865 | -37.0% |
| Furniture and vehicles | 24 | €64,573 | €40,708 | -€23,865 | -37.0% |
| Financial fixed assets | 28 | €13,157 | €13,157 | = | 0.0% |
| Current assets | 29/58 | €9,253 | €13,759 | +€4,505 | +48.7% |
| Amounts receivable within one year | 40/41 | €9,252 | €13,325 | +€4,073 | +44.0% |
| Trade receivables | 40 | €9,252 | €9,252 | = | 0.0% |
| Other amounts receivable | 41 | - | €4,073 | +€4,073 | |
| Cash at bank and in hand | 54/58 | €1 | €1 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | - | €433 | +€433 | |
| Total equity and liabilities | 10/49 | €86,983 | €67,623 | -€19,360 | -22.3% |
| Equity | 10/15 | -€103,495 | -€158,270 | -€54,775 | -52.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,695 | -€164,470 | -€54,775 | -49.9% |
| Amounts payable | 17/49 | €190,478 | €225,893 | +€35,416 | +18.6% |
| Amounts payable within one year | 42/48 | €190,478 | €225,893 | +€35,416 | +18.6% |
| Taxes, remuneration and social security | 45 | €282 | - | -€282 | |
| Taxes | 450/3 | €282 | - | -€282 | |
| Other amounts payable | 47/48 | €190,195 | €225,893 | +€35,698 | +18.8% |
| Remuneration, social security and pensions | 62 | €2,229 | €2,594 | +€366 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,865 | €23,865 | = | 0.0% |
| Other operating charges | 640/8 | €3,654 | €815 | -€2,839 | -77.7% |
| Gross operating margin | 9900 | -€40,908 | -€27,476 | +€13,432 | +32.8% |
| Operating profit (loss) | 9901 | -€70,655 | -€54,750 | +€15,905 | +22.5% |
| Financial income | 75/76B | €46 | - | -€46 | |
| Recurring financial income | 75 | €46 | - | -€46 | |
| Financial charges | 65/66B | €282 | - | -€282 | |
| Recurring financial charges | 65 | €282 | - | -€282 | |
| Profit (loss) for the period before taxes | 9903 | -€70,892 | -€54,750 | +€16,142 | +22.8% |
| Income taxes | 67/77 | €282 | €25 | -€257 | -91.0% |
| Profit (loss) for the period | 9904 | -€71,174 | -€54,775 | +€16,399 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,174 | -€54,775 | +€16,399 | +23.0% |
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 17 October 2026 via checked.be.