FORAX: 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
FORAX
NACE 82.990, Other business support services
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€470,188
2024 · -€6,431+€476,619
Equity
€1.1m
2024 · €1.1m-€16,852
Cash
€896,758
2024 · €1.8m-€890,820
Balance sheet total
€6.1m
2024 · €7.3m-€1.2m
Largest movements
Assets
- Cash -€890,820
down €890,820 (-49.8%), from €1.8m to €896,758
mainly Other debts (-€1.1m) and Contributions, distributions and other (-€487,040)
- Current investments -€500,000
down €500,000 (-33.3%), from €1.5m to €1.0m
- Receivables within one year +€218,657
up €218,657 (+5.8%), from €3.7m to €4.0m
of which Other amounts receivable: +€304,526
Equity and liabilities
- Other debts -€1.1m
down €1.1m (-25.6%), from €4.5m to €3.3m
- Advances received -€113,472
down €113,472 (-62.7%), from €180,907 to €67,435
Income statement
- Gross operating margin +€936,216
up €936,216 (+83.2%), from €1.1m to €2.1m
- Staff costs +€299,538
up €299,538 (+30.1%), from €994,016 to €1.3m
- Taxes +€164,188
up €164,188 (+872.4%), from €18,821 to €183,009
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
-€6,431
Gross operating margin
+€936,216
Staff costs
-€299,538
Depreciation
-€14,721
Other operating charges
+€2,222
Financial income
+€6,831
Financial charges
+€9,797
Taxes
-€164,188
Result 2025
€470,188
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.
From operations
-€892,166
Investment
+€486,151
Financing
-€484,805
Cash 2024
€1.8m
From operations (derived)
-€892,166
Net result for the year
+€470,188
Depreciation
+€82,583
Receivables after one year
+€7,500
Receivables within one year
-€218,657
Deferred charges and accrued income
+€286
Trade debts
-€3,091
Tax, wage and social debts
+€22,940
Advances received
-€113,472
Other debts
-€1.1m
Investment (derived)
+€486,151
Investment in fixed assets (net)
-€13,849
Current investments
+€500,000
Financing
-€484,805
Short-term financial debts
+€2,235
Contributions, distributions and other
-€487,040
Cash 2025
€896,758
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,319,184 | €6,070,500 | -€1.2m | -17.1% |
| Fixed assets | 21/28 | €259,183 | €190,448 | -€68,734 | -26.5% |
| Intangible fixed assets | 21 | €8,956 | €7,156 | -€1,800 | -20.1% |
| Tangible fixed assets | 22/27 | €250,226 | €183,291 | -€66,934 | -26.7% |
| Plant, machinery and equipment | 23 | €12,149 | €16,491 | +€4,342 | +35.7% |
| Furniture and vehicles | 24 | €238,077 | €166,801 | -€71,277 | -29.9% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €7,060,001 | €5,880,052 | -€1.2m | -16.7% |
| Amounts receivable after more than one year | 29 | €7,500 | €0 | -€7,500 | -100.0% |
| Other amounts receivable | 291 | €7,500 | €0 | -€7,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €3,747,036 | €3,965,693 | +€218,657 | +5.8% |
| Trade receivables | 40 | €621,668 | €535,800 | -€85,868 | -13.8% |
| Other amounts receivable | 41 | €3,125,367 | €3,429,893 | +€304,526 | +9.7% |
| Current investments | 50/53 | €1,500,000 | €1,000,000 | -€500,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €1,787,579 | €896,758 | -€890,820 | -49.8% |
| Deferred charges and accrued income | 490/1 | €17,887 | €17,601 | -€286 | -1.6% |
| Total equity and liabilities | 10/49 | €7,319,184 | €6,070,500 | -€1.2m | -17.1% |
| Equity | 10/15 | €1,116,852 | €1,100,000 | -€16,852 | -1.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €116,852 | €100,000 | -€16,852 | -14.4% |
| Non-distributable reserves | 130/1 | - | €100,000 | +€100,000 | |
| Legal reserve | 130 | - | €100,000 | +€100,000 | |
| Distributable reserves | 133 | €116,852 | €0 | -€116,852 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €6,202,331 | €4,970,500 | -€1.2m | -19.9% |
| Amounts payable within one year | 42/48 | €6,202,331 | €4,970,500 | -€1.2m | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €3,181 | €5,416 | +€2,235 | +70.3% |
| Credit institutions | 430/8 | €3,181 | €5,416 | +€2,235 | +70.3% |
| Trade debts | 44 | €1,453,265 | €1,450,174 | -€3,091 | -0.2% |
| Suppliers | 440/4 | €1,453,265 | €1,450,174 | -€3,091 | -0.2% |
| Advances received on contracts in progress | 46 | €180,907 | €67,435 | -€113,472 | -62.7% |
| Taxes, remuneration and social security | 45 | €104,516 | €127,456 | +€22,940 | +21.9% |
| Taxes | 450/3 | €7,740 | €15 | -€7,725 | -99.8% |
| Remuneration and social security | 454/9 | €96,776 | €127,441 | +€30,665 | +31.7% |
| Other amounts payable | 47/48 | €4,460,462 | €3,320,020 | -€1.1m | -25.6% |
| Non-recurring operating income | 76A | €9,289 | €622,840 | +€613,551 | +6605.2% |
| Remuneration, social security and pensions | 62 | €994,016 | €1,293,554 | +€299,538 | +30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,862 | €82,583 | +€14,721 | +21.7% |
| Other operating charges | 640/8 | €12,882 | €10,660 | -€2,222 | -17.2% |
| Gross operating margin | 9900 | €1,125,398 | €2,061,614 | +€936,216 | +83.2% |
| Operating profit (loss) | 9901 | €50,639 | €674,817 | +€624,179 | +1232.6% |
| Financial income | 75/76B | €47,162 | €53,993 | +€6,831 | +14.5% |
| Recurring financial income | 75 | €47,162 | €53,993 | +€6,831 | +14.5% |
| Financial charges | 65/66B | €85,411 | €75,614 | -€9,797 | -11.5% |
| Recurring financial charges | 65 | €85,411 | €75,614 | -€9,797 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €12,390 | €653,197 | +€640,806 | +5171.9% |
| Income taxes | 67/77 | €18,821 | €183,009 | +€164,188 | +872.4% |
| Profit (loss) for the period | 9904 | -€6,431 | €470,188 | +€476,619 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,431 | €470,188 | +€476,619 |
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.