Forest Estate: 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
Forest Estate
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€209,146
2023 · €211,695-€2,549
Equity
€1.3m
2023 · €1.3m-€854
Cash
€0
2023 · -
Balance sheet total
€1.9m
2023 · €1.7m+€220,009
Largest movements
Assets
- Receivables within one year +€297,534
up €297,534 (+81.2%), from €366,237 to €663,772
of which Trade receivables: +€420,607
- Tangible fixed assets -€66,442
down €66,442 (-5.2%), from €1.3m to €1.2m
of which Land and buildings: -€65,340
Equity and liabilities
- Other debts +€222,480
up €222,480 (+101%), from €220,000 to €442,480
Income statement
- Other operating income +€21,758
up €21,758 (+8.6%), from €253,936 to €275,693
- Services and other goods +€15,582
up €15,582 (+12.0%), from €129,554 to €145,136
- Other operating charges +€4,339
up €4,339 (+3.0%), from €143,836 to €148,174
- Financial charges +€3,801
up €3,801 (+144%), from €2,645 to €6,446
From the 2023 result to the 2024 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 2023
€211,695
Turnover
+€2
Other operating income
+€21,758
Services and other goods
-€15,582
Depreciation
+€118
Other operating charges
-€4,339
Financial income
-€1,556
Financial charges
-€3,801
Taxes
+€850
Result 2024
€209,146
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€209,983
Investment
€0
Financing
-€209,983
Cash 2023
€0
From operations (derived)
+€209,983
Net result for the year
+€209,146
Depreciation
+€66,442
Receivables within one year
-€297,534
Deferred charges and accrued income
+€11,084
Provisions
-€2,021
Trade debts
-€11,728
Tax, wage and social debts
+€4,736
Other debts
+€222,480
Accrued charges and deferred income
+€7,378
Financing
-€209,983
Current portion of long-term debt
+€17
Contributions, distributions and other
-€210,000
Cash 2024
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,698,673 | €1,918,681 | +€220,009 | +13.0% |
| Fixed assets | 21/28 | €1,273,724 | €1,207,282 | -€66,442 | -5.2% |
| Tangible fixed assets | 22/27 | €1,273,724 | €1,207,282 | -€66,442 | -5.2% |
| Land and buildings | 22 | €1,270,010 | €1,204,670 | -€65,340 | -5.1% |
| Plant, machinery and equipment | 23 | €1,837 | €1,100 | -€737 | -40.1% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Other tangible fixed assets | 26 | €1,877 | €1,512 | -€366 | -19.5% |
| Current assets | 29/58 | €424,949 | €711,399 | +€286,451 | +67.4% |
| Amounts receivable within one year | 40/41 | €366,237 | €663,772 | +€297,534 | +81.2% |
| Trade receivables | 40 | €142,965 | €563,573 | +€420,607 | +294% |
| Other amounts receivable | 41 | €223,272 | €100,199 | -€123,073 | -55.1% |
| Cash at bank and in hand | 54/58 | - | €0 | = | |
| Deferred charges and accrued income | 490/1 | €58,712 | €47,628 | -€11,084 | -18.9% |
| Total equity and liabilities | 10/49 | €1,698,673 | €1,918,681 | +€220,009 | +13.0% |
| Equity | 10/15 | €1,267,094 | €1,266,240 | -€854 | -0.1% |
| Contributions | 10/11 | €970,000 | €970,000 | = | 0.0% |
| Reserves | 13 | €290,695 | €284,632 | -€6,063 | -2.1% |
| Non-distributable reserves | 130/1 | €137,254 | €137,254 | = | 0.0% |
| Reserves not available under the articles | 1311 | €137,254 | €137,254 | = | 0.0% |
| Tax-exempt reserves | 132 | €153,441 | €147,378 | -€6,063 | -4.0% |
| Profit (loss) carried forward | 14 | €6,400 | €11,609 | +€5,209 | +81.4% |
| Provisions and deferred taxes | 16 | €51,147 | €49,126 | -€2,021 | -4.0% |
| Deferred taxes | 168 | €51,147 | €49,126 | -€2,021 | -4.0% |
| Amounts payable | 17/49 | €380,431 | €603,315 | +€222,884 | +58.6% |
| Amounts payable within one year | 42/48 | €340,181 | €555,687 | +€215,506 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €18,557 | €18,575 | +€17 | +0.1% |
| Trade debts | 44 | €84,038 | €72,310 | -€11,728 | -14.0% |
| Suppliers | 440/4 | €84,038 | €72,310 | -€11,728 | -14.0% |
| Taxes, remuneration and social security | 45 | €17,586 | €22,323 | +€4,736 | +26.9% |
| Taxes | 450/3 | €17,586 | €22,323 | +€4,736 | +26.9% |
| Other amounts payable | 47/48 | €220,000 | €442,480 | +€222,480 | +101% |
| Accrued charges and deferred income | 492/3 | €40,250 | €47,628 | +€7,378 | +18.3% |
| Operating income | 70/76A | €622,890 | €644,649 | +€21,759 | +3.5% |
| Turnover | 70 | €368,954 | €368,956 | +€2 | 0.0% |
| Other operating income | 74 | €253,936 | €275,693 | +€21,758 | +8.6% |
| Operating charges | 60/66A | €339,950 | €359,752 | +€19,802 | +5.8% |
| Services and other goods | 61 | €129,554 | €145,136 | +€15,582 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,560 | €66,442 | -€118 | -0.2% |
| Other operating charges | 640/8 | €143,836 | €148,174 | +€4,339 | +3.0% |
| Operating profit (loss) | 9901 | €282,940 | €284,897 | +€1,957 | +0.7% |
| Financial income | 75/76B | €1,966 | €410 | -€1,556 | -79.2% |
| Recurring financial income | 75 | €1,966 | €410 | -€1,556 | -79.2% |
| Income from current assets | 751 | €1,966 | €410 | -€1,556 | -79.2% |
| Financial charges | 65/66B | €2,645 | €6,446 | +€3,801 | +144% |
| Recurring financial charges | 65 | €2,645 | €6,446 | +€3,801 | +144% |
| Debt charges | 650 | €1,775 | €1,444 | -€331 | -18.7% |
| Other financial charges | 652/9 | €870 | €5,002 | +€4,132 | +475% |
| Profit (loss) for the period before taxes | 9903 | €282,260 | €278,861 | -€3,399 | -1.2% |
| Transfer from deferred taxes | 780 | €2,021 | €2,021 | = | 0.0% |
| Income taxes | 67/77 | €72,586 | €71,736 | -€850 | -1.2% |
| Taxes | 670/3 | €72,586 | €71,736 | -€850 | -1.2% |
| Profit (loss) for the period | 9904 | €211,695 | €209,146 | -€2,549 | -1.2% |
| Transfer from tax-exempt reserves | 789 | €6,063 | €6,063 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €217,758 | €215,209 | -€2,549 | -1.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.