FOREST-DAB: 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-DAB
Largest movements
- Tangible fixed assets -€57,440
down €57,440 (-13.1%), from €436,815 to €379,376
- Cash +€47,827
up €47,827 (+50.4%), from €94,875 to €142,702
mainly Depreciation (+€67,120) and Net result for the year (+€65,060)
- Receivables within one year +€7,675
up €7,675 (+13.0%), from €58,943 to €66,617
of which Trade receivables: +€4,972
- Debts after one year -€107,080
down €107,080 (-43.4%), from €246,534 to €139,454
of which Financial debts: -€107,080
- Profit (loss) carried forward +€65,060
up €65,060 (+38.2%), from €170,295 to €235,355
- Accrued charges and deferred income +€40,076
new in 2025: €40,076
- Gross operating margin +€8,433
up €8,433 (+5.8%), from €146,006 to €154,439
- Taxes +€1,604
up €1,604 (+8.1%), from €19,891 to €21,495
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 | €592,206 | €590,281 | -€1,925 | -0.3% |
| Fixed assets | 21/28 | €436,815 | €379,376 | -€57,440 | -13.1% |
| Tangible fixed assets | 22/27 | €436,815 | €379,376 | -€57,440 | -13.1% |
| Land and buildings | 22 | €436,815 | €379,376 | -€57,440 | -13.1% |
| Current assets | 29/58 | €155,390 | €210,905 | +€55,515 | +35.7% |
| Amounts receivable within one year | 40/41 | €58,943 | €66,617 | +€7,675 | +13.0% |
| Trade receivables | 40 | €8,364 | €13,336 | +€4,972 | +59.4% |
| Other amounts receivable | 41 | €50,579 | €53,281 | +€2,702 | +5.3% |
| Cash at bank and in hand | 54/58 | €94,875 | €142,702 | +€47,827 | +50.4% |
| Deferred charges and accrued income | 490/1 | €1,572 | €1,586 | +€13 | +0.9% |
| Total equity and liabilities | 10/49 | €592,206 | €590,281 | -€1,925 | -0.3% |
| Equity | 10/15 | €222,355 | €287,415 | +€65,060 | +29.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,860 | €45,860 | = | 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 | €44,000 | €44,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,295 | €235,355 | +€65,060 | +38.2% |
| Amounts payable | 17/49 | €369,851 | €302,865 | -€66,985 | -18.1% |
| Amounts payable after more than one year | 17 | €246,534 | €139,454 | -€107,080 | -43.4% |
| Financial debts | 170/4 | €161,166 | €54,085 | -€107,080 | -66.4% |
| Other amounts payable | 178/9 | €85,369 | €85,369 | = | 0.0% |
| Amounts payable within one year | 42/48 | €123,316 | €123,335 | +€19 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €105,643 | €107,080 | +€1,438 | +1.4% |
| Trade debts | 44 | €3,116 | €5,027 | +€1,911 | +61.3% |
| Suppliers | 440/4 | €3,116 | €5,027 | +€1,911 | +61.3% |
| Taxes, remuneration and social security | 45 | €4,825 | €1,495 | -€3,329 | -69.0% |
| Taxes | 450/3 | €4,825 | €1,495 | -€3,329 | -69.0% |
| Other amounts payable | 47/48 | €9,733 | €9,733 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €40,076 | +€40,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,565 | €67,120 | +€555 | +0.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €146,006 | €154,439 | +€8,433 | +5.8% |
| Operating profit (loss) | 9901 | €79,054 | €86,919 | +€7,865 | +9.9% |
| Financial income | 75/76B | €2,976 | €2,811 | -€165 | -5.6% |
| Recurring financial income | 75 | €2,976 | €2,811 | -€165 | -5.6% |
| Financial charges | 65/66B | €4,632 | €3,175 | -€1,457 | -31.5% |
| Recurring financial charges | 65 | €4,632 | €3,175 | -€1,457 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €77,399 | €86,556 | +€9,157 | +11.8% |
| Income taxes | 67/77 | €19,891 | €21,495 | +€1,604 | +8.1% |
| Profit (loss) for the period | 9904 | €57,507 | €65,060 | +€7,553 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,507 | €65,060 | +€7,553 | +13.1% |
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 4 October 2026 via checked.be.