FOR&VER: 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.
What changed
FOR&VER
NACE 46.150, Agents in the wholesale of furniture, household goods and hardware
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€20,249
2024 · €104,015-€124,264
Equity
€234,237
2024 · €254,487-€20,249
Cash
€99,107
2024 · €126,867-€27,761
Balance sheet total
€1.3m
2024 · €1.5m-€156,663
Largest movements
Assets
- Tangible fixed assets -€140,248
down €140,248 (-11.0%), from €1.3m to €1.1m
of which Land and buildings: -€133,742
- Cash -€27,761
down €27,761 (-21.9%), from €126,867 to €99,107
mainly Debts after one year (-€91,659) and Short-term financial debts (-€55,000)
Equity and liabilities
- Debts after one year -€91,659
down €91,659 (-11.2%), from €822,055 to €730,396
- Short-term financial debts -€55,000
down €55,000 (-45.8%), from €120,000 to €65,000
- Profit (loss) carried forward -€20,249
down €20,249 (-16.7%), from -€120,906 to -€141,156
Income statement
- Gross operating margin -€134,348
down €134,348 (-21.7%), from €618,642 to €484,295
- Depreciation -€6,916
down €6,916 (-3.8%), from €180,480 to €173,565
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.
Result 2024
€104,015
Gross operating margin
-€134,348
Staff costs
-€4,358
Depreciation
+€6,916
Other operating charges
+€1,803
Other operating items
+€171
Financial income
-€24
Financial charges
+€5,974
Taxes
-€398
Result 2025
-€20,249
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€150,920
Investment
-€33,316
Financing
-€145,364
Cash 2024
€126,867
From operations (derived)
+€150,920
Net result for the year
-€20,249
Depreciation
+€173,565
Receivables after one year
+€3,600
Stocks and contracts
-€1,178
Receivables within one year
-€7,442
Deferred charges and accrued income
-€6,326
Trade debts
+€11,514
Tax, wage and social debts
-€2,564
Investment (derived)
-€33,316
Investment in fixed assets (net)
-€33,316
Financing
-€145,364
Debts after one year
-€91,659
Current portion of long-term debt
+€1,295
Short-term financial debts
-€55,000
Cash 2025
€99,107
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,473,472 | €1,316,809 | -€156,663 | -10.6% |
| Fixed assets | 21/28 | €1,280,237 | €1,139,989 | -€140,248 | -11.0% |
| Tangible fixed assets | 22/27 | €1,280,187 | €1,139,939 | -€140,248 | -11.0% |
| Land and buildings | 22 | €1,130,693 | €996,951 | -€133,742 | -11.8% |
| Plant, machinery and equipment | 23 | €147,050 | €142,988 | -€4,062 | -2.8% |
| Furniture and vehicles | 24 | €2,445 | - | -€2,445 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €193,235 | €176,820 | -€16,415 | -8.5% |
| Amounts receivable after more than one year | 29 | €12,000 | €8,400 | -€3,600 | -30.0% |
| Other amounts receivable | 291 | €12,000 | €8,400 | -€3,600 | -30.0% |
| Stocks and contracts in progress | 3 | €25,909 | €27,087 | +€1,178 | +4.5% |
| Stocks | 30/36 | €25,909 | €27,087 | +€1,178 | +4.5% |
| Amounts receivable within one year | 40/41 | €28,459 | €35,901 | +€7,442 | +26.2% |
| Trade receivables | 40 | €18,715 | €23,851 | +€5,137 | +27.4% |
| Other amounts receivable | 41 | €9,744 | €12,050 | +€2,306 | +23.7% |
| Cash at bank and in hand | 54/58 | €126,867 | €99,107 | -€27,761 | -21.9% |
| Deferred charges and accrued income | 490/1 | - | €6,326 | +€6,326 | |
| Total equity and liabilities | 10/49 | €1,473,472 | €1,316,809 | -€156,663 | -10.6% |
| Equity | 10/15 | €254,487 | €234,237 | -€20,249 | -8.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €125,393 | €125,393 | = | 0.0% |
| Distributable reserves | 133 | €125,393 | €125,393 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,906 | -€141,156 | -€20,249 | -16.7% |
| Amounts payable | 17/49 | €1,218,986 | €1,082,572 | -€136,414 | -11.2% |
| Amounts payable after more than one year | 17 | €822,055 | €730,396 | -€91,659 | -11.2% |
| Financial debts | 170/4 | €822,055 | €730,396 | -€91,659 | -11.2% |
| Amounts payable within one year | 42/48 | €396,930 | €352,176 | -€44,754 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €195,346 | €196,641 | +€1,295 | +0.7% |
| Financial debts | 43 | €120,000 | €65,000 | -€55,000 | -45.8% |
| Credit institutions | 430/8 | €120,000 | €65,000 | -€55,000 | -45.8% |
| Trade debts | 44 | €33,103 | €44,617 | +€11,514 | +34.8% |
| Suppliers | 440/4 | €33,103 | €44,617 | +€11,514 | +34.8% |
| Taxes, remuneration and social security | 45 | €48,482 | €45,919 | -€2,564 | -5.3% |
| Taxes | 450/3 | €8,803 | €7,368 | -€1,435 | -16.3% |
| Remuneration and social security | 454/9 | €39,679 | €38,550 | -€1,129 | -2.8% |
| Remuneration, social security and pensions | 62 | €231,435 | €235,793 | +€4,358 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,480 | €173,565 | -€6,916 | -3.8% |
| Other operating charges | 640/8 | €43,792 | €41,990 | -€1,803 | -4.1% |
| Non-recurring operating charges | 66A | €171 | - | -€171 | |
| Gross operating margin | 9900 | €618,642 | €484,295 | -€134,348 | -21.7% |
| Operating profit (loss) | 9901 | €162,764 | €32,948 | -€129,816 | -79.8% |
| Financial income | 75/76B | €419 | €395 | -€24 | -5.8% |
| Recurring financial income | 75 | €419 | €395 | -€24 | -5.8% |
| Financial charges | 65/66B | €58,877 | €52,903 | -€5,974 | -10.1% |
| Recurring financial charges | 65 | €58,877 | €52,903 | -€5,974 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €104,305 | -€19,560 | -€123,866 | |
| Income taxes | 67/77 | €291 | €689 | +€398 | +137% |
| Profit (loss) for the period | 9904 | €104,015 | -€20,249 | -€124,264 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,015 | -€20,249 | -€124,264 |
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 24 October 2026 via checked.be.