FORESCO GROUP: what changed
What changed
FORESCO GROUP
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€7.2m
2024 · -€3.8m+€11.0m
Equity
€6.7m
2024 · -€557,004+€7.2m
Cash
€17,695
2024 · €197,349-€179,653
Balance sheet total
€18.7m
2024 · €13.3m+€5.4m
Largest movements
Assets
- Receivables within one year +€4.8m
up €4.8m (+146%), from €3.3m to €8.0m
of which Other amounts receivable: +€4.8m
- Tangible fixed assets +€537,325
up €537,325 (+4,082%), from €13,162 to €550,487
of which Assets under construction and advance payments: +€542,000
- Formation expenses +€307,290
new in 2025: €307,290
Equity and liabilities
- Profit (loss) carried forward +€7.2m
up €7.2m, from -€5.6m to €1.7m
- Other debts -€2.5m
down €2.5m (-43.5%), from €5.9m to €3.3m
- Trade debts +€707,682
up €707,682 (+17.5%), from €4.0m to €4.8m
Income statement
- Financial income +€9.9m
up €9.9m (+17,872%), from €55,516 to €10.0m
of which Financial income: +€9.9m
- Turnover +€2.6m
up €2.6m (+48.6%), from €5.4m to €8.1m
- Services and other goods -€1.0m
down €1.0m (-12.4%), from €8.2m to €7.2m
- Other operating income -€350,109
down €350,109 (-64.2%), from €545,482 to €195,372
- Staff costs +€315,797
up €315,797 (+33.1%), from €955,119 to €1.3m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€3.8m
Turnover
+€2.6m
Other operating income
-€350,109
Services and other goods
+€1.0m
Staff costs
-€315,797
Depreciation
-€29,250
Other operating charges
+€89
Other operating items
-€1.8m
Financial income
+€9.9m
Financial charges
-€103,804
Taxes
+€2,677
Result 2025
€7.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€701,910
Investment
-€881,563
Financing
€0
Cash 2024
€197,349
From operations (derived)
+€701,910
Net result for the year
+€7.2m
Depreciation
+€36,949
Receivables within one year
-€4.8m
Smaller working-capital items
-€9,353
Trade debts
+€707,682
Tax, wage and social debts
+€34,475
Other debts
-€2.5m
Investment (derived)
-€881,563
Investment in fixed assets (net)
-€881,563
Cash 2025
€17,695
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,267,934 | €18,694,923 | +€5.4m | +40.9% |
| Formation expenses | 20 | - | €307,290 | +€307,290 | |
| Fixed assets | 21/28 | €9,743,099 | €10,280,423 | +€537,325 | +5.5% |
| Tangible fixed assets | 22/27 | €13,162 | €550,487 | +€537,325 | +4,082% |
| Furniture and vehicles | 24 | €13,162 | €8,487 | -€4,675 | -35.5% |
| Assets under construction and advance payments | 27 | - | €542,000 | +€542,000 | |
| Financial fixed assets | 28 | €9,729,936 | €9,729,936 | = | 0.0% |
| Affiliated companies | 280/1 | €9,729,936 | €9,729,936 | = | 0.0% |
| Participating interests | 280 | €9,729,936 | €9,729,936 | = | 0.0% |
| Current assets | 29/58 | €3,524,835 | €8,107,210 | +€4.6m | +130% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €3,273,622 | €8,036,810 | +€4.8m | +146% |
| Trade receivables | 40 | €1,670,693 | €1,591,039 | -€79,654 | -4.8% |
| Other amounts receivable | 41 | €1,602,929 | €6,445,771 | +€4.8m | +302% |
| Cash at bank and in hand | 54/58 | €197,349 | €17,695 | -€179,653 | -91.0% |
| Deferred charges and accrued income | 490/1 | €53,865 | €52,705 | -€1,160 | -2.2% |
| Total equity and liabilities | 10/49 | €13,267,934 | €18,694,923 | +€5.4m | +40.9% |
| Equity | 10/15 | -€557,004 | €6,686,075 | +€7.2m | |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,557,004 | €1,686,075 | +€7.2m | |
| Amounts payable | 17/49 | €13,824,938 | €12,008,847 | -€1.8m | -13.1% |
| Amounts payable after more than one year | 17 | €3,777,000 | €3,777,000 | = | 0.0% |
| Financial debts | 170/4 | €3,777,000 | €3,777,000 | = | 0.0% |
| Subordinated loans | 170 | €3,777,000 | €3,777,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,037,140 | €8,231,563 | -€1.8m | -18.0% |
| Trade debts | 44 | €4,045,464 | €4,753,146 | +€707,682 | +17.5% |
| Suppliers | 440/4 | €4,045,464 | €4,753,146 | +€707,682 | +17.5% |
| Taxes, remuneration and social security | 45 | €138,568 | €173,043 | +€34,475 | +24.9% |
| Taxes | 450/3 | €16,090 | €5,748 | -€10,342 | -64.3% |
| Remuneration and social security | 454/9 | €122,478 | €167,295 | +€44,817 | +36.6% |
| Other amounts payable | 47/48 | €5,853,109 | €3,305,375 | -€2.5m | -43.5% |
| Accrued charges and deferred income | 492/3 | €10,798 | €285 | -€10,513 | -97.4% |
| Operating income | 70/76A | €5,987,032 | €8,493,024 | +€2.5m | +41.9% |
| Turnover | 70 | €5,441,550 | €8,088,240 | +€2.6m | +48.6% |
| Own construction capitalised | 72 | - | €209,412 | +€209,412 | |
| Other operating income | 74 | €545,482 | €195,372 | -€350,109 | -64.2% |
| Operating charges | 60/66A | €9,382,280 | €10,666,473 | +€1.3m | +13.7% |
| Services and other goods | 61 | €8,248,958 | €7,226,792 | -€1.0m | -12.4% |
| Remuneration, social security and pensions | 62 | €955,119 | €1,270,916 | +€315,797 | +33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,699 | €36,949 | +€29,250 | +380% |
| Other operating charges | 640/8 | €2,503 | €2,414 | -€89 | -3.6% |
| Operating charges capitalised as restructuring costs | 649 | - | -€336,257 | -€336,257 | |
| Non-recurring operating charges | 66A | €168,000 | €2,465,659 | +€2.3m | +1,368% |
| Operating profit (loss) | 9901 | -€3,395,248 | -€2,173,449 | +€1.2m | +36.0% |
| Financial income | 75/76B | €55,516 | €9,977,296 | +€9.9m | +17,872% |
| Recurring financial income | 75 | €55,516 | €9,977,296 | +€9.9m | +17,872% |
| Income from financial fixed assets | 750 | - | €9,888,241 | +€9.9m | |
| Income from current assets | 751 | €51,559 | €84,956 | +€33,397 | +64.8% |
| Other financial income | 752/9 | €3,957 | €4,099 | +€141 | +3.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €454,713 | €558,517 | +€103,804 | +22.8% |
| Recurring financial charges | 65 | €454,713 | €558,517 | +€103,804 | +22.8% |
| Debt charges | 650 | €451,759 | €554,731 | +€102,972 | +22.8% |
| Other financial charges | 652/9 | €2,954 | €3,786 | +€832 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,794,444 | €7,245,330 | +€11.0m | |
| Income taxes | 67/77 | €4,927 | €2,250 | -€2,677 | -54.3% |
| Taxes | 670/3 | €4,927 | €2,250 | -€2,677 | -54.3% |
| Profit (loss) for the period | 9904 | -€3,799,371 | €7,243,080 | +€11.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,799,371 | €7,243,080 | +€11.0m |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.