FORANS: 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.
FORANS
Largest movements
- Tangible fixed assets -€208,155
down €208,155 (-23.7%), from €878,169 to €670,014
of which Plant, machinery and equipment: -€179,906
- Cash +€40,189
up €40,189 (+40.6%), from €98,870 to €139,059
mainly Depreciation (+€236,783) and Trade debts (+€86,989)
- Receivables within one year +€16,478
up €16,478 (+37.7%), from €43,661 to €60,139
of which Trade receivables: +€32,605
- Formation expenses -€13,729
down €13,729 (-100.0%), from €13,729 to €0
- Stocks and contracts -€13,010
down €13,010 (-30.1%), from €43,265 to €30,254
- Debts after one year -€170,605
down €170,605 (-26.4%), from €646,502 to €475,897
- Profit (loss) carried forward -€136,121
down €136,121 (-30.0%), from -€453,783 to -€589,903
- Trade debts +€86,989
up €86,989 (+31.7%), from €274,222 to €361,211
- Short-term financial debts +€27,319
new in 2025: €27,319
- Gross operating margin +€96,656
up €96,656 (+11.4%), from €847,091 to €943,747
- Staff costs +€70,873
up €70,873 (+9.8%), from €724,978 to €795,851
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 | €1,169,146 | €976,404 | -€192,742 | -16.5% |
| Formation expenses | 20 | €13,729 | €0 | -€13,729 | -100.0% |
| Fixed assets | 21/28 | €901,758 | €682,731 | -€219,027 | -24.3% |
| Intangible fixed assets | 21 | €22,994 | €12,122 | -€10,872 | -47.3% |
| Tangible fixed assets | 22/27 | €878,169 | €670,014 | -€208,155 | -23.7% |
| Plant, machinery and equipment | 23 | €793,298 | €613,392 | -€179,906 | -22.7% |
| Furniture and vehicles | 24 | €84,871 | €56,621 | -€28,250 | -33.3% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €253,659 | €293,674 | +€40,014 | +15.8% |
| Stocks and contracts in progress | 3 | €43,265 | €30,254 | -€13,010 | -30.1% |
| Stocks | 30/36 | €43,265 | €30,254 | -€13,010 | -30.1% |
| Amounts receivable within one year | 40/41 | €43,661 | €60,139 | +€16,478 | +37.7% |
| Trade receivables | 40 | €2,403 | €35,008 | +€32,605 | +1356.8% |
| Other amounts receivable | 41 | €41,258 | €25,131 | -€16,127 | -39.1% |
| Cash at bank and in hand | 54/58 | €98,870 | €139,059 | +€40,189 | +40.6% |
| Deferred charges and accrued income | 490/1 | €67,864 | €64,221 | -€3,642 | -5.4% |
| Total equity and liabilities | 10/49 | €1,169,146 | €976,404 | -€192,742 | -16.5% |
| Equity | 10/15 | -€87,783 | -€223,903 | -€136,121 | -155.1% |
| Contributions | 10/11 | €366,000 | €366,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€453,783 | -€589,903 | -€136,121 | -30.0% |
| Amounts payable | 17/49 | €1,256,929 | €1,200,307 | -€56,622 | -4.5% |
| Amounts payable after more than one year | 17 | €646,502 | €475,897 | -€170,605 | -26.4% |
| Financial debts | 170/4 | €646,502 | €475,897 | -€170,605 | -26.4% |
| Amounts payable within one year | 42/48 | €608,558 | €723,062 | +€114,504 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €180,170 | €184,634 | +€4,464 | +2.5% |
| Financial debts | 43 | - | €27,319 | +€27,319 | |
| Credit institutions | 430/8 | - | €27,319 | +€27,319 | |
| Trade debts | 44 | €274,222 | €361,211 | +€86,989 | +31.7% |
| Suppliers | 440/4 | €274,222 | €361,211 | +€86,989 | +31.7% |
| Taxes, remuneration and social security | 45 | €101,701 | €97,370 | -€4,330 | -4.3% |
| Taxes | 450/3 | €2,196 | €2,550 | +€354 | +16.1% |
| Remuneration and social security | 454/9 | €99,505 | €94,821 | -€4,685 | -4.7% |
| Other amounts payable | 47/48 | €52,465 | €52,527 | +€61 | +0.1% |
| Accrued charges and deferred income | 492/3 | €1,869 | €1,349 | -€521 | -27.9% |
| Remuneration, social security and pensions | 62 | €724,978 | €795,851 | +€70,873 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,651 | €236,783 | -€3,868 | -1.6% |
| Other operating charges | 640/8 | €20,359 | €20,731 | +€372 | +1.8% |
| Gross operating margin | 9900 | €847,091 | €943,747 | +€96,656 | +11.4% |
| Operating profit (loss) | 9901 | -€138,896 | -€109,618 | +€29,279 | +21.1% |
| Financial charges | 65/66B | €34,417 | €26,160 | -€8,257 | -24.0% |
| Recurring financial charges | 65 | €34,417 | €26,160 | -€8,257 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | -€173,313 | -€135,777 | +€37,536 | +21.7% |
| Income taxes | 67/77 | €198 | €343 | +€145 | +73.0% |
| Profit (loss) for the period | 9904 | -€173,512 | -€136,121 | +€37,391 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€173,512 | -€136,121 | +€37,391 | +21.5% |
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 10 October 2026 via checked.be.