FORAS: 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.
FORAS
Largest movements
- Stocks and contracts -€1.7m
down €1.7m (-72.2%), from €2.3m to €638,222
- Cash +€1.5m
up €1.5m (+1,864%), from €80,859 to €1.6m
mainly Stocks and contracts (+€1.7m) and Trade debts (+€39,350)
- Deferred charges and accrued income -€25,250
no longer reported in 2025 (was €25,250)
- Other debts -€219,772
down €219,772 (-9.4%), from €2.3m to €2.1m
- Trade debts +€39,350
up €39,350 (+344%), from €11,446 to €50,796
- Gross operating margin +€15,530
up €15,530, from -€5,003 to €10,527
- Taxes +€1,831
new in 2025: €1,831
- Financial income +€602
new in 2025: €602
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 | €2,409,307 | €2,250,100 | -€159,208 | -6.6% |
| Current assets | 29/58 | €2,409,307 | €2,250,100 | -€159,208 | -6.6% |
| Stocks and contracts in progress | 3 | €2,294,539 | €638,222 | -€1.7m | -72.2% |
| Stocks | 30/36 | €2,294,539 | €638,222 | -€1.7m | -72.2% |
| Amounts receivable within one year | 40/41 | €8,660 | €23,408 | +€14,748 | +170% |
| Trade receivables | 40 | €4,350 | €18,408 | +€14,058 | +323% |
| Other amounts receivable | 41 | €4,310 | €5,000 | +€690 | +16.0% |
| Cash at bank and in hand | 54/58 | €80,859 | €1,588,470 | +€1.5m | +1,864% |
| Deferred charges and accrued income | 490/1 | €25,250 | - | -€25,250 | |
| Total equity and liabilities | 10/49 | €2,409,307 | €2,250,100 | -€159,208 | -6.6% |
| Equity | 10/15 | €23,250 | €31,383 | +€8,133 | +35.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,811 | €12,783 | +€1,972 | +18.2% |
| Distributable reserves | 133 | €10,811 | €12,783 | +€1,972 | +18.2% |
| Profit (loss) carried forward | 14 | -€6,161 | - | +€6,161 | |
| Amounts payable | 17/49 | €2,386,057 | €2,218,717 | -€167,341 | -7.0% |
| Amounts payable within one year | 42/48 | €2,386,057 | €2,218,717 | -€167,341 | -7.0% |
| Trade debts | 44 | €11,446 | €50,796 | +€39,350 | +344% |
| Suppliers | 440/4 | €11,446 | €50,796 | +€39,350 | +344% |
| Taxes, remuneration and social security | 45 | €37,937 | €51,018 | +€13,081 | +34.5% |
| Taxes | 450/3 | €8,837 | €15,518 | +€6,681 | +75.6% |
| Remuneration and social security | 454/9 | €29,100 | €35,500 | +€6,400 | +22.0% |
| Other amounts payable | 47/48 | €2,336,675 | €2,116,903 | -€219,772 | -9.4% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€5,003 | €10,527 | +€15,530 | |
| Operating profit (loss) | 9901 | -€6,089 | €9,408 | +€15,497 | |
| Financial income | 75/76B | - | €602 | +€602 | |
| Recurring financial income | 75 | - | €602 | +€602 | |
| Financial charges | 65/66B | €73 | €46 | -€27 | -36.4% |
| Recurring financial charges | 65 | €73 | €46 | -€27 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,161 | €9,964 | +€16,125 | |
| Income taxes | 67/77 | - | €1,831 | +€1,831 | |
| Profit (loss) for the period | 9904 | -€6,161 | €8,133 | +€14,295 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,161 | €8,133 | +€14,295 |
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 19 October 2026 via checked.be.