FORASDERO: 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.
FORASDERO
Largest movements
- Cash +€34,147
up €34,147 (+159.4%), from €21,424 to €55,571
mainly Other debts (+€49,314) and Tax, wage and social debts (+€31,875)
- Receivables within one year +€25,930
up €25,930 (+79.6%), from €32,595 to €58,525
- Tangible fixed assets -€15,579
down €15,579 (-4.5%), from €347,899 to €332,320
of which Land and buildings: -€15,890
- Reserves -€64,191
down €64,191 (-69.9%), from €91,780 to €27,589
of which Distributable reserves: -€64,191
- Other debts +€49,314
new in 2025: €49,314
- Tax, wage and social debts +€31,875
up €31,875 (+91.4%), from €34,858 to €66,733
of which Taxes: +€17,632
- Trade debts +€28,867
up €28,867 (+932.4%), from €3,096 to €31,963
- Debts after one year -€14,513
down €14,513 (-6.1%), from €239,552 to €225,039
- Staff costs +€126,177
up €126,177 (+93.6%), from €134,842 to €261,019
- Gross operating margin +€117,345
up €117,345 (+62.2%), from €188,589 to €305,934
- Taxes +€5,836
up €5,836 (+3200.4%), from €182 to €6,018
- Depreciation -€3,340
down €3,340 (-16.2%), from €20,592 to €17,252
- Other operating charges +€3,231
up €3,231 (+249.6%), from €1,294 to €4,525
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 | €402,743 | €448,336 | +€45,593 | +11.3% |
| Fixed assets | 21/28 | €347,899 | €332,320 | -€15,579 | -4.5% |
| Tangible fixed assets | 22/27 | €347,899 | €332,320 | -€15,579 | -4.5% |
| Land and buildings | 22 | €343,491 | €327,601 | -€15,890 | -4.6% |
| Furniture and vehicles | 24 | €4,408 | €4,719 | +€311 | +7.1% |
| Current assets | 29/58 | €54,843 | €116,016 | +€61,172 | +111.5% |
| Amounts receivable within one year | 40/41 | €32,595 | €58,525 | +€25,930 | +79.6% |
| Trade receivables | 40 | €32,595 | €58,525 | +€25,930 | +79.6% |
| Cash at bank and in hand | 54/58 | €21,424 | €55,571 | +€34,147 | +159.4% |
| Deferred charges and accrued income | 490/1 | €824 | €1,920 | +€1,096 | +133.0% |
| Total equity and liabilities | 10/49 | €402,743 | €448,336 | +€45,593 | +11.3% |
| Equity | 10/15 | €110,380 | €46,189 | -€64,191 | -58.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €91,780 | €27,589 | -€64,191 | -69.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €89,920 | €25,729 | -€64,191 | -71.4% |
| Amounts payable | 17/49 | €292,363 | €402,147 | +€109,784 | +37.6% |
| Amounts payable after more than one year | 17 | €239,552 | €225,039 | -€14,513 | -6.1% |
| Financial debts | 170/4 | €239,552 | €225,039 | -€14,513 | -6.1% |
| Amounts payable within one year | 42/48 | €52,811 | €176,658 | +€123,847 | +234.5% |
| Current portion of amounts payable after more than one year | 42 | €14,857 | €28,648 | +€13,791 | +92.8% |
| Trade debts | 44 | €3,096 | €31,963 | +€28,867 | +932.4% |
| Suppliers | 440/4 | €3,096 | €31,963 | +€28,867 | +932.4% |
| Taxes, remuneration and social security | 45 | €34,858 | €66,733 | +€31,875 | +91.4% |
| Taxes | 450/3 | €16,356 | €33,988 | +€17,632 | +107.8% |
| Remuneration and social security | 454/9 | €18,502 | €32,746 | +€14,243 | +77.0% |
| Other amounts payable | 47/48 | - | €49,314 | +€49,314 | |
| Accrued charges and deferred income | 492/3 | - | €450 | +€450 | |
| Remuneration, social security and pensions | 62 | €134,842 | €261,019 | +€126,177 | +93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,592 | €17,252 | -€3,340 | -16.2% |
| Other operating charges | 640/8 | €1,294 | €4,525 | +€3,231 | +249.6% |
| Gross operating margin | 9900 | €188,589 | €305,934 | +€117,345 | +62.2% |
| Operating profit (loss) | 9901 | €31,861 | €23,138 | -€8,722 | -27.4% |
| Financial income | 75/76B | €1 | €116 | +€115 | +10945.7% |
| Recurring financial income | 75 | €1 | €116 | +€115 | +10945.7% |
| Financial charges | 65/66B | €9,433 | €11,096 | +€1,663 | +17.6% |
| Recurring financial charges | 65 | €9,433 | €11,096 | +€1,663 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €22,428 | €12,158 | -€10,270 | -45.8% |
| Income taxes | 67/77 | €182 | €6,018 | +€5,836 | +3200.4% |
| Profit (loss) for the period | 9904 | €22,246 | €6,140 | -€16,106 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,246 | €6,140 | -€16,106 | -72.4% |
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 9 October 2026 via checked.be.