FOREST CM: what changed
Two fiscal 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.
FOREST CM
Largest movements
- Cash +€41,780
up €41,780 (+43.5%), from €96,105 to €137,885
mainly Net result for the year (+€41,233) and Receivables within one year (+€31,001)
- Receivables within one year -€31,001
down €31,001 (-92.5%), from €33,519 to €2,518
of which Trade receivables: -€32,758
- Tangible fixed assets +€22,153
up €22,153 (+18503.8%), from €120 to €22,273
of which Furniture and vehicles: +€22,212
- Profit (loss) carried forward +€41,233
up €41,233 (+52.7%), from -€78,273 to -€37,040
- Trade debts -€4,853
down €4,853 (-99.5%), from €4,876 to €24
- Other debts -€3,064
down €3,064 (-3.9%), from €78,241 to €75,177
- Gross operating margin -€43,199
down €43,199 (-49.2%), from €87,782 to €44,584
- Financial income +€4,740
new in 2025: €4,740
- Depreciation +€3,526
up €3,526 (+1824.8%), from €193 to €3,719
- Taxes +€2,578
up €2,578 (+1847.7%), from €140 to €2,718
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 | €132,245 | €165,422 | +€33,177 | +25.1% |
| Fixed assets | 21/28 | €578 | €22,731 | +€22,153 | +3834.5% |
| Tangible fixed assets | 22/27 | €120 | €22,273 | +€22,153 | +18503.8% |
| Plant, machinery and equipment | 23 | €120 | €60 | -€59 | -49.6% |
| Furniture and vehicles | 24 | - | €22,212 | +€22,212 | |
| Financial fixed assets | 28 | €458 | €458 | = | 0.0% |
| Current assets | 29/58 | €131,667 | €142,692 | +€11,024 | +8.4% |
| Amounts receivable within one year | 40/41 | €33,519 | €2,518 | -€31,001 | -92.5% |
| Trade receivables | 40 | €32,758 | - | -€32,758 | |
| Other amounts receivable | 41 | €761 | €2,518 | +€1,757 | +230.9% |
| Cash at bank and in hand | 54/58 | €96,105 | €137,885 | +€41,780 | +43.5% |
| Deferred charges and accrued income | 490/1 | €2,043 | €2,289 | +€246 | +12.0% |
| Total equity and liabilities | 10/49 | €132,245 | €165,422 | +€33,177 | +25.1% |
| Equity | 10/15 | €48,989 | €90,222 | +€41,233 | +84.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €114,862 | €114,862 | = | 0.0% |
| 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 | €113,002 | €113,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,273 | -€37,040 | +€41,233 | +52.7% |
| Amounts payable | 17/49 | €83,256 | €75,200 | -€8,056 | -9.7% |
| Amounts payable within one year | 42/48 | €83,256 | €75,200 | -€8,056 | -9.7% |
| Trade debts | 44 | €4,876 | €24 | -€4,853 | -99.5% |
| Suppliers | 440/4 | €4,876 | €24 | -€4,853 | -99.5% |
| Taxes, remuneration and social security | 45 | €140 | - | -€140 | |
| Taxes | 450/3 | €140 | - | -€140 | |
| Other amounts payable | 47/48 | €78,241 | €75,177 | -€3,064 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193 | €3,719 | +€3,526 | +1824.8% |
| Other operating charges | 640/8 | €1,513 | €1,233 | -€280 | -18.5% |
| Gross operating margin | 9900 | €87,782 | €44,584 | -€43,199 | -49.2% |
| Operating profit (loss) | 9901 | €86,077 | €39,632 | -€46,445 | -54.0% |
| Financial income | 75/76B | - | €4,740 | +€4,740 | |
| Recurring financial income | 75 | - | €4,740 | +€4,740 | |
| Financial charges | 65/66B | €373 | €421 | +€48 | +12.8% |
| Recurring financial charges | 65 | €373 | €421 | +€48 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €85,703 | €43,951 | -€41,752 | -48.7% |
| Income taxes | 67/77 | €140 | €2,718 | +€2,578 | +1847.7% |
| Profit (loss) for the period | 9904 | €85,564 | €41,233 | -€44,331 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €85,564 | €41,233 | -€44,331 | -51.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.