FORESTAL: 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.
FORESTAL
Largest movements
- Receivables after one year -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Cash -€17,342
down €17,342 (-80.0%), from €21,670 to €4,328
mainly Contributions, distributions and other (-€97,490) and Investment in fixed assets (net) (-€6,476)
- Receivables within one year -€8,722
down €8,722 (-38.4%), from €22,714 to €13,992
of which Other amounts receivable: -€10,448
- Tangible fixed assets -€6,432
down €6,432 (-2.4%), from €272,205 to €265,773
of which Furniture and vehicles: -€3,338
- Reserves -€97,490
down €97,490 (-85.3%), from €114,304 to €16,814
of which Distributable reserves: -€97,490
- Other debts +€14,220
up €14,220 (+5.5%), from €259,109 to €273,329
- Gross operating margin +€9,041
up €9,041 (+32.4%), from €27,867 to €36,908
- Depreciation -€6,221
down €6,221 (-32.5%), from €19,129 to €12,908
- Financial charges -€5,799
down €5,799 (-12.3%), from €47,122 to €41,324
- Financial income -€3,885
down €3,885 (-12.9%), from €30,046 to €26,162
- Other operating charges -€3,720
down €3,720 (-47.1%), from €7,893 to €4,173
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 | €377,194 | €296,279 | -€80,915 | -21.5% |
| Fixed assets | 21/28 | €272,205 | €265,773 | -€6,432 | -2.4% |
| Tangible fixed assets | 22/27 | €272,205 | €265,773 | -€6,432 | -2.4% |
| Land and buildings | 22 | €253,461 | €251,226 | -€2,235 | -0.9% |
| Plant, machinery and equipment | 23 | €6,155 | €5,296 | -€858 | -13.9% |
| Furniture and vehicles | 24 | €12,589 | €9,251 | -€3,338 | -26.5% |
| Current assets | 29/58 | €104,989 | €30,506 | -€74,483 | -70.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €0 | -€50,000 | -100.0% |
| Other amounts receivable | 291 | €50,000 | €0 | -€50,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €22,714 | €13,992 | -€8,722 | -38.4% |
| Trade receivables | 40 | - | €1,726 | +€1,726 | |
| Other amounts receivable | 41 | €22,714 | €12,266 | -€10,448 | -46.0% |
| Cash at bank and in hand | 54/58 | €21,670 | €4,328 | -€17,342 | -80.0% |
| Deferred charges and accrued income | 490/1 | €10,604 | €12,185 | +€1,581 | +14.9% |
| Total equity and liabilities | 10/49 | €377,194 | €296,279 | -€80,915 | -21.5% |
| Equity | 10/15 | €113,240 | €16,837 | -€96,404 | -85.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €114,304 | €16,814 | -€97,490 | -85.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €114,304 | €16,814 | -€97,490 | -85.3% |
| Profit (loss) carried forward | 14 | -€13,464 | -€12,378 | +€1,086 | +8.1% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €263,954 | €279,443 | +€15,489 | +5.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €263,954 | €279,443 | +€15,489 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,770 | €3,039 | +€1,269 | +71.7% |
| Suppliers | 440/4 | €1,770 | €3,039 | +€1,269 | +71.7% |
| Taxes, remuneration and social security | 45 | €3,075 | €3,075 | = | 0.0% |
| Taxes | 450/3 | €3,075 | €3,075 | = | 0.0% |
| Other amounts payable | 47/48 | €259,109 | €273,329 | +€14,220 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,129 | €12,908 | -€6,221 | -32.5% |
| Other operating charges | 640/8 | €7,893 | €4,173 | -€3,720 | -47.1% |
| Non-recurring operating charges | 66A | €4,475 | €0 | -€4,475 | -100.0% |
| Gross operating margin | 9900 | €27,867 | €36,908 | +€9,041 | +32.4% |
| Operating profit (loss) | 9901 | -€3,630 | €19,827 | +€23,457 | |
| Financial income | 75/76B | €30,046 | €26,162 | -€3,885 | -12.9% |
| Recurring financial income | 75 | €30,046 | €26,162 | -€3,885 | -12.9% |
| Financial charges | 65/66B | €47,122 | €41,324 | -€5,799 | -12.3% |
| Recurring financial charges | 65 | €47,122 | €41,324 | -€5,799 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,706 | €4,666 | +€25,371 | |
| Transfer from deferred taxes | 780 | €1,743 | €0 | -€1,743 | -100.0% |
| Income taxes | 67/77 | €1,472 | €3,580 | +€2,108 | +143.3% |
| Profit (loss) for the period | 9904 | -€20,435 | €1,086 | +€21,521 | |
| Transfer from tax-exempt reserves | 789 | €6,971 | €0 | -€6,971 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,464 | €1,086 | +€14,550 |
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.