BowForest: 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.
BowForest
Largest movements
- Current investments -€182,709
down €182,709 (-72.1%), from €253,388 to €70,679
- Deferred charges and accrued income +€37,217
up €37,217 (+4756.0%), from €783 to €38,000
- Cash -€13,224
down €13,224 (-69.7%), from €18,967 to €5,743
mainly Contributions, distributions and other (-€101,435) and Other debts (-€93,565)
- Receivables within one year +€7,730
up €7,730 (+538.4%), from €1,436 to €9,166
of which Trade receivables: +€8,345
- Other debts -€93,565
down €93,565 (-48.0%), from €195,000 to €101,435
- Reserves -€37,500
down €37,500 (-100.0%), from €37,500 to €0
- Tax, wage and social debts -€19,445
down €19,445 (-48.0%), from €40,471 to €21,026
- Gross operating margin -€189,602
down €189,602 (-71.1%), from €266,595 to €76,993
- Taxes -€48,149
down €48,149 (-69.5%), from €69,232 to €21,084
- Financial income +€12,514
up €12,514 (+2008.1%), from €623 to €13,137
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 | €277,489 | €125,859 | -€151,630 | -54.6% |
| Fixed assets | 21/28 | €2,916 | €2,271 | -€644 | -22.1% |
| Tangible fixed assets | 22/27 | €2,916 | €2,271 | -€644 | -22.1% |
| Furniture and vehicles | 24 | €2,916 | €2,271 | -€644 | -22.1% |
| Current assets | 29/58 | €274,573 | €123,587 | -€150,986 | -55.0% |
| Amounts receivable within one year | 40/41 | €1,436 | €9,166 | +€7,730 | +538.4% |
| Trade receivables | 40 | €0 | €8,345 | +€8,345 | |
| Other amounts receivable | 41 | €1,436 | €821 | -€615 | -42.8% |
| Current investments | 50/53 | €253,388 | €70,679 | -€182,709 | -72.1% |
| Cash at bank and in hand | 54/58 | €18,967 | €5,743 | -€13,224 | -69.7% |
| Deferred charges and accrued income | 490/1 | €783 | €38,000 | +€37,217 | +4756.0% |
| Total equity and liabilities | 10/49 | €277,489 | €125,859 | -€151,630 | -54.6% |
| Equity | 10/15 | €40,046 | €2,500 | -€37,546 | -93.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €37,500 | €0 | -€37,500 | -100.0% |
| Distributable reserves | 133 | €37,500 | €0 | -€37,500 | -100.0% |
| Profit (loss) carried forward | 14 | €46 | €0 | -€46 | -100.0% |
| Amounts payable | 17/49 | €237,442 | €123,359 | -€114,084 | -48.0% |
| Amounts payable within one year | 42/48 | €237,442 | €123,359 | -€114,084 | -48.0% |
| Trade debts | 44 | €1,971 | €898 | -€1,074 | -54.5% |
| Suppliers | 440/4 | €1,971 | €898 | -€1,074 | -54.5% |
| Taxes, remuneration and social security | 45 | €40,471 | €21,026 | -€19,445 | -48.0% |
| Taxes | 450/3 | €40,471 | €21,026 | -€19,445 | -48.0% |
| Other amounts payable | 47/48 | €195,000 | €101,435 | -€93,565 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €644 | €644 | +€0 | 0.0% |
| Other operating charges | 640/8 | €492 | €1,211 | +€719 | +146.0% |
| Non-recurring operating charges | 66A | - | €1,054 | +€1,054 | |
| Gross operating margin | 9900 | €266,595 | €76,993 | -€189,602 | -71.1% |
| Operating profit (loss) | 9901 | €265,458 | €74,084 | -€191,374 | -72.1% |
| Financial income | 75/76B | €623 | €13,137 | +€12,514 | +2008.1% |
| Recurring financial income | 75 | €623 | €13,137 | +€12,514 | +2008.1% |
| Financial charges | 65/66B | €1,803 | €2,250 | +€447 | +24.8% |
| Recurring financial charges | 65 | €1,803 | €2,250 | +€447 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €264,279 | €84,972 | -€179,307 | -67.8% |
| Income taxes | 67/77 | €69,232 | €21,084 | -€48,149 | -69.5% |
| Profit (loss) for the period | 9904 | €195,046 | €63,888 | -€131,158 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €195,046 | €63,888 | -€131,158 | -67.2% |
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 30 September 2026 via checked.be.