FOREST IMMOBILIER: 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.
FOREST IMMOBILIER
Largest movements
- Stocks and contracts +€225,818
up €225,818 (+32.9%), from €686,580 to €912,398
- Cash -€38,170
down €38,170 (-92.6%), from €41,237 to €3,067
mainly Stocks and contracts (-€225,818) and Net result for the year (-€215,298)
- Debts after one year +€392,330
up €392,330 (+52.4%), from €748,345 to €1.1m
- Profit (loss) carried forward -€215,298
down €215,298 (-1,545%), from -€13,935 to -€229,233
- Trade debts +€10,360
up €10,360 (+623%), from €1,662 to €12,022
- Write-downs +€213,378
new in 2025: €213,378
- Gross operating margin -€5,078
down €5,078, from €3,412 to -€1,666
- Staff costs -€1,707
down €1,707 (-95.2%), from €1,792 to €85
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 | €738,472 | €925,897 | +€187,426 | +25.4% |
| Current assets | 29/58 | €738,472 | €925,897 | +€187,426 | +25.4% |
| Stocks and contracts in progress | 3 | €686,580 | €912,398 | +€225,818 | +32.9% |
| Stocks | 30/36 | €686,580 | €912,398 | +€225,818 | +32.9% |
| Amounts receivable within one year | 40/41 | €10,654 | €10,432 | -€222 | -2.1% |
| Trade receivables | 40 | €3,000 | - | -€3,000 | |
| Other amounts receivable | 41 | €7,654 | €10,432 | +€2,778 | +36.3% |
| Cash at bank and in hand | 54/58 | €41,237 | €3,067 | -€38,170 | -92.6% |
| Total equity and liabilities | 10/49 | €738,472 | €925,897 | +€187,426 | +25.4% |
| Equity | 10/15 | -€11,535 | -€226,833 | -€215,298 | -1,866% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,935 | -€229,233 | -€215,298 | -1,545% |
| Amounts payable | 17/49 | €750,007 | €1,152,730 | +€402,723 | +53.7% |
| Amounts payable after more than one year | 17 | €748,345 | €1,140,674 | +€392,330 | +52.4% |
| Financial debts | 170/4 | €748,345 | €1,140,674 | +€392,330 | +52.4% |
| Amounts payable within one year | 42/48 | €1,662 | €12,056 | +€10,394 | +625% |
| Trade debts | 44 | €1,662 | €12,022 | +€10,360 | +623% |
| Suppliers | 440/4 | €1,662 | €12,022 | +€10,360 | +623% |
| Taxes, remuneration and social security | 45 | - | €34 | +€34 | |
| Taxes | 450/3 | - | €34 | +€34 | |
| Remuneration, social security and pensions | 62 | €1,792 | €85 | -€1,707 | -95.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €213,378 | +€213,378 | |
| Gross operating margin | 9900 | €3,412 | -€1,666 | -€5,078 | |
| Operating profit (loss) | 9901 | €1,620 | -€215,130 | -€216,750 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €169 | €172 | +€3 | +1.5% |
| Recurring financial charges | 65 | €169 | €172 | +€3 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €1,450 | -€215,298 | -€216,748 | |
| Profit (loss) for the period | 9904 | €1,450 | -€215,298 | -€216,748 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,450 | -€215,298 | -€216,748 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.