Fordem: 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.
Fordem
Largest movements
- Cash +€49,720
up €49,720 (+83.7%), from €59,390 to €109,111
mainly Net result for the year (+€38,751) and Depreciation (+€33,733)
- Tangible fixed assets -€32,849
down €32,849 (-5.8%), from €567,177 to €534,328
of which Land and buildings: -€25,245
- Reserves +€38,756
up €38,756 (+79.0%), from €49,085 to €87,841
- Debts after one year -€21,117
down €21,117 (-4.3%), from €496,875 to €475,758
- Gross operating margin +€29,716
up €29,716 (+42.1%), from €70,529 to €100,245
- Taxes +€12,239
up €12,239 (+3,566%), from €343 to €12,583
- Financial charges +€1,223
up €1,223 (+10.1%), from €12,062 to €13,285
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 | €633,566 | €655,735 | +€22,169 | +3.5% |
| Fixed assets | 21/28 | €569,609 | €535,877 | -€33,733 | -5.9% |
| Intangible fixed assets | 21 | €2,432 | €1,548 | -€884 | -36.4% |
| Tangible fixed assets | 22/27 | €567,177 | €534,328 | -€32,849 | -5.8% |
| Land and buildings | 22 | €540,101 | €514,856 | -€25,245 | -4.7% |
| Plant, machinery and equipment | 23 | €23,702 | €17,275 | -€6,427 | -27.1% |
| Furniture and vehicles | 24 | €3,374 | €2,198 | -€1,177 | -34.9% |
| Current assets | 29/58 | €63,957 | €119,859 | +€55,902 | +87.4% |
| Amounts receivable within one year | 40/41 | - | €2,500 | +€2,500 | |
| Other amounts receivable | 41 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €59,390 | €109,111 | +€49,720 | +83.7% |
| Deferred charges and accrued income | 490/1 | €4,567 | €8,248 | +€3,681 | +80.6% |
| Total equity and liabilities | 10/49 | €633,566 | €655,735 | +€22,169 | +3.5% |
| Equity | 10/15 | €74,090 | €112,842 | +€38,751 | +52.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €49,085 | €87,841 | +€38,756 | +79.0% |
| Distributable reserves | 133 | €49,085 | €87,841 | +€38,756 | +79.0% |
| Profit (loss) carried forward | 14 | €5 | €1 | -€5 | -89.6% |
| Amounts payable | 17/49 | €559,476 | €542,894 | -€16,582 | -3.0% |
| Amounts payable after more than one year | 17 | €496,875 | €475,758 | -€21,117 | -4.3% |
| Financial debts | 170/4 | €496,875 | €475,758 | -€21,117 | -4.3% |
| Amounts payable within one year | 42/48 | €62,601 | €67,136 | +€4,535 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €20,845 | €21,117 | +€272 | +1.3% |
| Trade debts | 44 | €16,175 | €16,736 | +€561 | +3.5% |
| Suppliers | 440/4 | €16,175 | €16,736 | +€561 | +3.5% |
| Taxes, remuneration and social security | 45 | €2,857 | €3,036 | +€179 | +6.3% |
| Taxes | 450/3 | €2,857 | €3,036 | +€179 | +6.3% |
| Other amounts payable | 47/48 | €22,723 | €26,246 | +€3,523 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,780 | €33,733 | +€953 | +2.9% |
| Other operating charges | 640/8 | €2,134 | €1,945 | -€189 | -8.9% |
| Gross operating margin | 9900 | €70,529 | €100,245 | +€29,716 | +42.1% |
| Operating profit (loss) | 9901 | €35,616 | €64,567 | +€28,951 | +81.3% |
| Financial income | 75/76B | €0 | €52 | +€52 | +258,650% |
| Recurring financial income | 75 | €0 | €52 | +€52 | +258,650% |
| Financial charges | 65/66B | €12,062 | €13,285 | +€1,223 | +10.1% |
| Recurring financial charges | 65 | €12,062 | €13,285 | +€1,223 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €23,554 | €51,334 | +€27,780 | +118% |
| Income taxes | 67/77 | €343 | €12,583 | +€12,239 | +3,566% |
| Profit (loss) for the period | 9904 | €23,211 | €38,751 | +€15,541 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,211 | €38,751 | +€15,541 | +67.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.