FOREST PAINT: 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 PAINT
Largest movements
- Cash -€57,268
down €57,268 (-80.9%), from €70,824 to €13,556
mainly Other debts (-€97,462) and Tax, wage and social debts (-€44,162)
- Receivables within one year -€28,925
down €28,925 (-43.0%), from €67,253 to €38,328
of which Other amounts receivable: -€15,832
- Tangible fixed assets -€20,951
down €20,951 (-10.7%), from €195,683 to €174,732
of which Plant, machinery and equipment: -€38,401
- Financial fixed assets -€5,940
no longer reported in 2025 (was €5,940)
- Deferred charges and accrued income -€3,604
down €3,604 (-40.2%), from €8,977 to €5,373
- Other debts -€97,462
down €97,462 (-42.1%), from €231,472 to €134,011
- Tax, wage and social debts -€44,162
down €44,162 (-81.9%), from €53,926 to €9,763
of which Taxes: -€29,446
- Profit (loss) carried forward +€37,608
up €37,608, from -€27,821 to €9,787
- Trade debts -€9,561
down €9,561 (-17.9%), from €53,547 to €43,985
- Investment grants -€7,690
down €7,690 (-26.2%), from €29,331 to €21,641
- Gross operating margin -€333,474
down €333,474 (-59.1%), from €564,333 to €230,859
- Staff costs -€80,423
down €80,423 (-38.9%), from €206,821 to €126,398
- Other operating charges -€12,851
down €12,851 (-98.2%), from €13,089 to €238
- Taxes +€8,000
no longer reported in 2025 (was -€8,000)
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 | €355,455 | €235,010 | -€120,445 | -33.9% |
| Fixed assets | 21/28 | €205,844 | €177,753 | -€28,091 | -13.6% |
| Intangible fixed assets | 21 | €4,221 | €3,021 | -€1,200 | -28.4% |
| Tangible fixed assets | 22/27 | €195,683 | €174,732 | -€20,951 | -10.7% |
| Plant, machinery and equipment | 23 | €149,055 | €110,655 | -€38,401 | -25.8% |
| Furniture and vehicles | 24 | €25,708 | €47,524 | +€21,816 | +84.9% |
| Other tangible fixed assets | 26 | €20,919 | €14,718 | -€6,201 | -29.6% |
| Assets under construction and advance payments | 27 | - | €1,835 | +€1,835 | |
| Financial fixed assets | 28 | €5,940 | - | -€5,940 | |
| Current assets | 29/58 | €149,611 | €57,257 | -€92,354 | -61.7% |
| Stocks and contracts in progress | 3 | €2,556 | - | -€2,556 | |
| Stocks | 30/36 | €2,556 | - | -€2,556 | |
| Amounts receivable within one year | 40/41 | €67,253 | €38,328 | -€28,925 | -43.0% |
| Trade receivables | 40 | €37,380 | €24,288 | -€13,093 | -35.0% |
| Other amounts receivable | 41 | €29,873 | €14,041 | -€15,832 | -53.0% |
| Cash at bank and in hand | 54/58 | €70,824 | €13,556 | -€57,268 | -80.9% |
| Deferred charges and accrued income | 490/1 | €8,977 | €5,373 | -€3,604 | -40.2% |
| Total equity and liabilities | 10/49 | €355,455 | €235,010 | -€120,445 | -33.9% |
| Equity | 10/15 | €16,510 | €46,428 | +€29,918 | +181% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,821 | €9,787 | +€37,608 | |
| Investment grants | 15 | €29,331 | €21,641 | -€7,690 | -26.2% |
| Amounts payable | 17/49 | €338,944 | €188,581 | -€150,363 | -44.4% |
| Amounts payable within one year | 42/48 | €338,944 | €187,759 | -€151,186 | -44.6% |
| Trade debts | 44 | €53,547 | €43,985 | -€9,561 | -17.9% |
| Suppliers | 440/4 | €53,547 | €43,985 | -€9,561 | -17.9% |
| Taxes, remuneration and social security | 45 | €53,926 | €9,763 | -€44,162 | -81.9% |
| Taxes | 450/3 | €31,713 | €2,267 | -€29,446 | -92.9% |
| Remuneration and social security | 454/9 | €22,213 | €7,496 | -€14,717 | -66.3% |
| Other amounts payable | 47/48 | €231,472 | €134,011 | -€97,462 | -42.1% |
| Accrued charges and deferred income | 492/3 | - | €822 | +€822 | |
| Non-recurring operating income | 76A | €273,564 | - | -€273,564 | |
| Remuneration, social security and pensions | 62 | €206,821 | €126,398 | -€80,423 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,297 | €66,878 | +€4,581 | +7.4% |
| Other operating charges | 640/8 | €13,089 | €238 | -€12,851 | -98.2% |
| Gross operating margin | 9900 | €564,333 | €230,859 | -€333,474 | -59.1% |
| Operating profit (loss) | 9901 | €282,126 | €37,345 | -€244,781 | -86.8% |
| Financial income | 75/76B | €7,694 | €7,690 | -€4 | -0.1% |
| Recurring financial income | 75 | €7,694 | €7,690 | -€4 | -0.1% |
| Financial charges | 65/66B | €5,273 | €7,427 | +€2,154 | +40.9% |
| Recurring financial charges | 65 | €5,273 | €7,427 | +€2,154 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €284,547 | €37,608 | -€246,939 | -86.8% |
| Income taxes | 67/77 | -€8,000 | - | +€8,000 | |
| Profit (loss) for the period | 9904 | €292,547 | €37,608 | -€254,939 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €292,547 | €37,608 | -€254,939 | -87.1% |
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 23 October 2026 via checked.be.