ETANG DES FORGES: 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.
ETANG DES FORGES
Largest movements
- Tangible fixed assets -€3,337
down €3,337 (-30.8%), from €10,837 to €7,500
- Cash -€136
down €136 (-90.2%), from €151 to €15
mainly Net result for the year (-€4,219)
- Profit (loss) carried forward -€4,219
down €4,219 (-4.2%), from -€100,570 to -€104,789
- Other debts +€746
up €746 (+0.8%), from €92,308 to €93,054
- Depreciation +€1,668
up €1,668 (+99.9%), from €1,669 to €3,337
- Gross operating margin -€758
down €758 (-612%), from -€124 to -€882
- Other operating charges -€384
no longer reported in 2025 (was €384)
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 | €10,988 | €7,515 | -€3,473 | -31.6% |
| Fixed assets | 21/28 | €10,837 | €7,500 | -€3,337 | -30.8% |
| Tangible fixed assets | 22/27 | €10,837 | €7,500 | -€3,337 | -30.8% |
| Plant, machinery and equipment | 23 | €10,837 | €7,500 | -€3,337 | -30.8% |
| Current assets | 29/58 | €151 | €15 | -€136 | -90.2% |
| Cash at bank and in hand | 54/58 | €151 | €15 | -€136 | -90.2% |
| Total equity and liabilities | 10/49 | €10,988 | €7,515 | -€3,473 | -31.6% |
| Equity | 10/15 | -€81,320 | -€85,539 | -€4,219 | -5.2% |
| Contributions | 10/11 | €18,592 | €18,592 | +€0 | 0.0% |
| Reserves | 13 | €658 | €658 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €658 | €658 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €658 | - | -€658 | |
| Other | 1319 | - | €658 | +€658 | |
| Profit (loss) carried forward | 14 | -€100,570 | -€104,789 | -€4,219 | -4.2% |
| Amounts payable | 17/49 | €92,308 | €93,054 | +€746 | +0.8% |
| Amounts payable within one year | 42/48 | €92,308 | €93,054 | +€746 | +0.8% |
| Other amounts payable | 47/48 | €92,308 | €93,054 | +€746 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,669 | €3,337 | +€1,668 | +99.9% |
| Other operating charges | 640/8 | €384 | - | -€384 | |
| Gross operating margin | 9900 | -€124 | -€882 | -€758 | -612% |
| Operating profit (loss) | 9901 | -€2,177 | -€4,219 | -€2,042 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,177 | -€4,219 | -€2,042 | -93.8% |
| Profit (loss) for the period | 9904 | -€2,177 | -€4,219 | -€2,042 | -93.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,177 | -€4,219 | -€2,042 | -93.8% |
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 30 October 2026 via checked.be.