Exploitations Forestières André PIRSON: 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.
Exploitations Forestières André PIRSON
Largest movements
- Receivables within one year +€129,148
up €129,148 (+466%), from €27,720 to €156,868
of which Trade receivables: +€133,159
- Stocks and contracts -€51,200
down €51,200 (-91.7%), from €55,818 to €4,618
- Current investments -€14,744
down €14,744 (-58.6%), from €25,159 to €10,415
- Financial fixed assets +€14,170
up €14,170 (+277%), from €5,122 to €19,292
- Tangible fixed assets -€8,856
down €8,856 (-3.4%), from €263,732 to €254,875
of which Furniture and vehicles: -€11,153
- Other debts +€101,254
up €101,254 (+63.6%), from €159,161 to €260,415
- Trade debts +€48,287
up €48,287 (+1,253%), from €3,853 to €52,139
- Debts after one year -€47,622
no longer reported in 2025 (was €47,622)
- Profit (loss) carried forward -€45,120
down €45,120 (-69.6%), from €64,806 to €19,686
- Current portion of long-term debt +€6,652
up €6,652 (+14.5%), from €45,829 to €52,482
- Gross operating margin +€11,872
up €11,872 (+6.7%), from €176,309 to €188,181
- Staff costs -€6,876
down €6,876 (-10.5%), from €65,659 to €58,783
- Taxes +€4,547
up €4,547 (+26.6%), from €17,084 to €21,631
- Depreciation +€1,975
up €1,975 (+5.4%), from €36,728 to €38,703
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 | €388,418 | €450,852 | +€62,434 | +16.1% |
| Fixed assets | 21/28 | €268,854 | €274,167 | +€5,314 | +2.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €263,732 | €254,875 | -€8,856 | -3.4% |
| Plant, machinery and equipment | 23 | €3,091 | €5,388 | +€2,297 | +74.3% |
| Furniture and vehicles | 24 | €260,640 | €249,487 | -€11,153 | -4.3% |
| Financial fixed assets | 28 | €5,122 | €19,292 | +€14,170 | +277% |
| Current assets | 29/58 | €119,564 | €176,685 | +€57,121 | +47.8% |
| Stocks and contracts in progress | 3 | €55,818 | €4,618 | -€51,200 | -91.7% |
| Stocks | 30/36 | €55,818 | €4,618 | -€51,200 | -91.7% |
| Amounts receivable within one year | 40/41 | €27,720 | €156,868 | +€129,148 | +466% |
| Trade receivables | 40 | €23,310 | €156,468 | +€133,159 | +571% |
| Other amounts receivable | 41 | €4,410 | €400 | -€4,010 | -90.9% |
| Current investments | 50/53 | €25,159 | €10,415 | -€14,744 | -58.6% |
| Cash at bank and in hand | 54/58 | €7,541 | €1,858 | -€5,683 | -75.4% |
| Deferred charges and accrued income | 490/1 | €3,326 | €2,926 | -€400 | -12.0% |
| Total equity and liabilities | 10/49 | €388,418 | €450,852 | +€62,434 | +16.1% |
| Equity | 10/15 | €106,293 | €60,406 | -€45,887 | -43.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,887 | €22,119 | -€768 | -3.4% |
| Tax-exempt reserves | 132 | €22,887 | €22,119 | -€768 | -3.4% |
| Profit (loss) carried forward | 14 | €64,806 | €19,686 | -€45,120 | -69.6% |
| Provisions and deferred taxes | 16 | €7,644 | €7,452 | -€192 | -2.5% |
| Deferred taxes | 168 | €7,644 | €7,452 | -€192 | -2.5% |
| Amounts payable | 17/49 | €274,481 | €382,995 | +€108,513 | +39.5% |
| Amounts payable after more than one year | 17 | €47,622 | - | -€47,622 | |
| Financial debts | 170/4 | €47,622 | - | -€47,622 | |
| Amounts payable within one year | 42/48 | €226,860 | €382,988 | +€156,128 | +68.8% |
| Current portion of amounts payable after more than one year | 42 | €45,829 | €52,482 | +€6,652 | +14.5% |
| Trade debts | 44 | €3,853 | €52,139 | +€48,287 | +1,253% |
| Suppliers | 440/4 | €3,853 | €52,139 | +€48,287 | +1,253% |
| Taxes, remuneration and social security | 45 | €18,016 | €17,952 | -€64 | -0.4% |
| Taxes | 450/3 | €13,600 | €9,445 | -€4,156 | -30.6% |
| Remuneration and social security | 454/9 | €4,416 | €8,507 | +€4,092 | +92.7% |
| Other amounts payable | 47/48 | €159,161 | €260,415 | +€101,254 | +63.6% |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Remuneration, social security and pensions | 62 | €65,659 | €58,783 | -€6,876 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,728 | €38,703 | +€1,975 | +5.4% |
| Other operating charges | 640/8 | €1,188 | €1,862 | +€675 | +56.8% |
| Gross operating margin | 9900 | €176,309 | €188,181 | +€11,872 | +6.7% |
| Operating profit (loss) | 9901 | €72,735 | €88,833 | +€16,099 | +22.1% |
| Financial income | 75/76B | €166 | €256 | +€89 | +53.8% |
| Recurring financial income | 75 | €166 | €256 | +€89 | +53.8% |
| Financial charges | 65/66B | €5,283 | €3,537 | -€1,746 | -33.1% |
| Recurring financial charges | 65 | €5,283 | €3,537 | -€1,746 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €67,617 | €85,552 | +€17,934 | +26.5% |
| Transfer from deferred taxes | 780 | €44 | €192 | +€148 | +337% |
| Income taxes | 67/77 | €17,084 | €21,631 | +€4,547 | +26.6% |
| Profit (loss) for the period | 9904 | €50,577 | €64,113 | +€13,535 | +26.8% |
| Transfer from tax-exempt reserves | 789 | €176 | €768 | +€592 | +337% |
| Profit (loss) for the period to be appropriated | 9905 | €50,753 | €64,880 | +€14,127 | +27.8% |
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 27 October 2026 via checked.be.