B. FORREST MANAGEMENT: 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.
B. FORREST MANAGEMENT
Largest movements
- Tangible fixed assets -€7,805
down €7,805 (-15.1%), from €51,843 to €44,038
- Cash +€4,353
up €4,353 (+74.1%), from €5,875 to €10,228
mainly Depreciation (+€7,805) and Net result for the year (+€4,548)
- Receivables within one year -€1,808
down €1,808 (-15.8%), from €11,438 to €9,629
of which Other amounts receivable: -€1,748
- Tax, wage and social debts -€9,058
down €9,058 (-74.6%), from €12,148 to €3,090
of which Remuneration and social security: -€5,000
- Profit (loss) carried forward +€4,548
up €4,548 (+9.9%), from €46,142 to €50,690
- Short-term financial debts -€727
no longer reported in 2025 (was €727)
- Taxes -€9,941
down €9,941, from €8,200 to -€1,741
- Gross operating margin +€6,278
up €6,278 (+86.9%), from €7,221 to €13,499
- Other operating charges -€4,008
down €4,008 (-64.1%), from €6,255 to €2,247
- Depreciation -€3,987
down €3,987 (-33.8%), from €11,792 to €7,805
- Financial charges -€507
down €507 (-44.2%), from €1,147 to €640
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 | €69,156 | €63,896 | -€5,260 | -7.6% |
| Fixed assets | 21/28 | €51,843 | €44,038 | -€7,805 | -15.1% |
| Tangible fixed assets | 22/27 | €51,843 | €44,038 | -€7,805 | -15.1% |
| Plant, machinery and equipment | 23 | €51,843 | €44,038 | -€7,805 | -15.1% |
| Current assets | 29/58 | €17,313 | €19,858 | +€2,545 | +14.7% |
| Amounts receivable within one year | 40/41 | €11,438 | €9,629 | -€1,808 | -15.8% |
| Trade receivables | 40 | €1,638 | €1,578 | -€60 | -3.7% |
| Other amounts receivable | 41 | €9,800 | €8,052 | -€1,748 | -17.8% |
| Cash at bank and in hand | 54/58 | €5,875 | €10,228 | +€4,353 | +74.1% |
| Total equity and liabilities | 10/49 | €69,156 | €63,896 | -€5,260 | -7.6% |
| Equity | 10/15 | €54,202 | €58,750 | +€4,548 | +8.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,142 | €50,690 | +€4,548 | +9.9% |
| Amounts payable | 17/49 | €14,954 | €5,146 | -€9,808 | -65.6% |
| Amounts payable within one year | 42/48 | €14,954 | €5,146 | -€9,808 | -65.6% |
| Financial debts | 43 | €727 | - | -€727 | |
| Credit institutions | 430/8 | €727 | - | -€727 | |
| Trade debts | 44 | €2,079 | €2,056 | -€23 | -1.1% |
| Suppliers | 440/4 | €2,079 | €2,056 | -€23 | -1.1% |
| Taxes, remuneration and social security | 45 | €12,148 | €3,090 | -€9,058 | -74.6% |
| Taxes | 450/3 | €7,148 | €3,090 | -€4,058 | -56.8% |
| Remuneration and social security | 454/9 | €5,000 | - | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,792 | €7,805 | -€3,987 | -33.8% |
| Other operating charges | 640/8 | €6,255 | €2,247 | -€4,008 | -64.1% |
| Gross operating margin | 9900 | €7,221 | €13,499 | +€6,278 | +86.9% |
| Operating profit (loss) | 9901 | -€10,826 | €3,447 | +€14,273 | |
| Financial charges | 65/66B | €1,147 | €640 | -€507 | -44.2% |
| Recurring financial charges | 65 | €1,147 | €640 | -€507 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | -€11,973 | €2,807 | +€14,780 | |
| Income taxes | 67/77 | €8,200 | -€1,741 | -€9,941 | |
| Profit (loss) for the period | 9904 | -€20,173 | €4,548 | +€24,721 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,173 | €4,548 | +€24,721 |
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 15 October 2026 via checked.be.