FORESTCAPE: 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.
FORESTCAPE
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-64.8%), from €1.7m to €593,118
of which Trade receivables: -€1.3m
- Cash -€200,633
down €200,633 (-94.8%), from €211,557 to €10,925
mainly Other debts (-€1.2m) and Net result for the year (-€70,583)
- Tangible fixed assets -€21,742
down €21,742 (-38.1%), from €57,071 to €35,329
of which Furniture and vehicles: -€21,336
- Other debts -€1.2m
down €1.2m (-69.5%), from €1.8m to €536,915
- Profit (loss) carried forward -€70,583
down €70,583, from €29,644 to -€40,939
- Gross operating margin -€211,609
down €211,609 (-58.3%), from €363,152 to €151,543
- Staff costs -€159,320
down €159,320 (-45.3%), from €351,971 to €192,650
- Depreciation +€10,920
up €10,920 (+101%), from €10,822 to €21,742
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 | €1,974,017 | €652,339 | -€1.3m | -67.0% |
| Fixed assets | 21/28 | €68,184 | €40,584 | -€27,601 | -40.5% |
| Tangible fixed assets | 22/27 | €57,071 | €35,329 | -€21,742 | -38.1% |
| Plant, machinery and equipment | 23 | €1,507 | €1,101 | -€406 | -26.9% |
| Furniture and vehicles | 24 | €55,564 | €34,228 | -€21,336 | -38.4% |
| Financial fixed assets | 28 | €11,113 | €5,254 | -€5,859 | -52.7% |
| Current assets | 29/58 | €1,905,833 | €611,755 | -€1.3m | -67.9% |
| Amounts receivable within one year | 40/41 | €1,686,764 | €593,118 | -€1.1m | -64.8% |
| Trade receivables | 40 | €1,629,849 | €325,682 | -€1.3m | -80.0% |
| Other amounts receivable | 41 | €56,914 | €267,437 | +€210,522 | +370% |
| Cash at bank and in hand | 54/58 | €211,557 | €10,925 | -€200,633 | -94.8% |
| Deferred charges and accrued income | 490/1 | €7,512 | €7,712 | +€201 | +2.7% |
| Total equity and liabilities | 10/49 | €1,974,017 | €652,339 | -€1.3m | -67.0% |
| Equity | 10/15 | €139,644 | €69,061 | -€70,583 | -50.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,644 | -€40,939 | -€70,583 | |
| Amounts payable | 17/49 | €1,834,372 | €583,277 | -€1.3m | -68.2% |
| Amounts payable within one year | 42/48 | €1,834,372 | €583,277 | -€1.3m | -68.2% |
| Trade debts | 44 | €36,199 | €25,535 | -€10,664 | -29.5% |
| Suppliers | 440/4 | €36,199 | €25,535 | -€10,664 | -29.5% |
| Taxes, remuneration and social security | 45 | €38,614 | €20,827 | -€17,786 | -46.1% |
| Taxes | 450/3 | €10,012 | - | -€10,012 | |
| Remuneration and social security | 454/9 | €28,602 | €20,827 | -€7,774 | -27.2% |
| Other amounts payable | 47/48 | €1,759,560 | €536,915 | -€1.2m | -69.5% |
| Remuneration, social security and pensions | 62 | €351,971 | €192,650 | -€159,320 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,822 | €21,742 | +€10,920 | +101% |
| Other operating charges | 640/8 | €1,199 | €4,207 | +€3,008 | +251% |
| Gross operating margin | 9900 | €363,152 | €151,543 | -€211,609 | -58.3% |
| Operating profit (loss) | 9901 | -€840 | -€67,056 | -€66,217 | -7,887% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,377 | €3,527 | -€2,850 | -44.7% |
| Recurring financial charges | 65 | €6,377 | €3,527 | -€2,850 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,216 | -€70,583 | -€63,367 | -878% |
| Income taxes | 67/77 | €32 | - | -€32 | |
| Profit (loss) for the period | 9904 | -€7,248 | -€70,583 | -€63,335 | -874% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,248 | -€70,583 | -€63,335 | -874% |
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 15 October 2026 via checked.be.