FORESTER: 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.
FORESTER
Largest movements
- Receivables within one year -€23,939
down €23,939 (-58.8%), from €40,723 to €16,783
of which Trade receivables: -€21,444
- Cash +€10,708
up €10,708 (+14.5%), from €73,781 to €84,489
mainly Receivables within one year (+€23,939) and Depreciation (+€7,561)
- Tangible fixed assets -€7,561
down €7,561 (-7.9%), from €95,272 to €87,711
- Trade debts -€11,268
down €11,268 (-43.1%), from €26,169 to €14,901
- Other debts -€6,636
down €6,636 (-20.7%), from €32,120 to €25,484
- Gross operating margin -€10,074
down €10,074 (-43.8%), from €22,984 to €12,910
- Depreciation -€7,429
down €7,429 (-49.6%), from €14,990 to €7,561
- Taxes -€584
down €584 (-97.4%), from €599 to €15
- Financial charges -€301
down €301 (-7.2%), from €4,163 to €3,862
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 | €211,490 | €191,623 | -€19,867 | -9.4% |
| Fixed assets | 21/28 | €95,272 | €87,711 | -€7,561 | -7.9% |
| Tangible fixed assets | 22/27 | €95,272 | €87,711 | -€7,561 | -7.9% |
| Land and buildings | 22 | €80,678 | €78,777 | -€1,901 | -2.4% |
| Plant, machinery and equipment | 23 | €6,994 | €4,882 | -€2,112 | -30.2% |
| Furniture and vehicles | 24 | €7,600 | €4,052 | -€3,549 | -46.7% |
| Current assets | 29/58 | €116,218 | €103,913 | -€12,305 | -10.6% |
| Amounts receivable within one year | 40/41 | €40,723 | €16,783 | -€23,939 | -58.8% |
| Trade receivables | 40 | €34,717 | €13,273 | -€21,444 | -61.8% |
| Other amounts receivable | 41 | €6,006 | €3,511 | -€2,495 | -41.5% |
| Cash at bank and in hand | 54/58 | €73,781 | €84,489 | +€10,708 | +14.5% |
| Deferred charges and accrued income | 490/1 | €1,714 | €2,640 | +€926 | +54.0% |
| Total equity and liabilities | 10/49 | €211,490 | €191,623 | -€19,867 | -9.4% |
| Equity | 10/15 | €106,407 | €104,813 | -€1,595 | -1.5% |
| Contributions | 10/11 | €43,300 | €43,300 | = | 0.0% |
| Reserves | 13 | €63,107 | €63,107 | = | 0.0% |
| Distributable reserves | 133 | €63,107 | €63,107 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,595 | -€1,595 | |
| Amounts payable | 17/49 | €105,083 | €86,811 | -€18,272 | -17.4% |
| Amounts payable after more than one year | 17 | €43,300 | €43,300 | = | 0.0% |
| Financial debts | 170/4 | €43,300 | €43,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,319 | €40,445 | -€17,874 | -30.6% |
| Trade debts | 44 | €26,169 | €14,901 | -€11,268 | -43.1% |
| Suppliers | 440/4 | €26,169 | €14,901 | -€11,268 | -43.1% |
| Taxes, remuneration and social security | 45 | €29 | €60 | +€31 | +105.5% |
| Taxes | 450/3 | €29 | €60 | +€31 | +105.5% |
| Other amounts payable | 47/48 | €32,120 | €25,484 | -€6,636 | -20.7% |
| Accrued charges and deferred income | 492/3 | €3,464 | €3,066 | -€398 | -11.5% |
| Non-recurring operating income | 76A | - | €2,211 | +€2,211 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,990 | €7,561 | -€7,429 | -49.6% |
| Other operating charges | 640/8 | €2,939 | €3,026 | +€86 | +2.9% |
| Non-recurring operating charges | 66A | - | €40 | +€40 | |
| Gross operating margin | 9900 | €22,984 | €12,910 | -€10,074 | -43.8% |
| Operating profit (loss) | 9901 | €5,054 | €2,282 | -€2,772 | -54.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,163 | €3,862 | -€301 | -7.2% |
| Recurring financial charges | 65 | €4,163 | €3,862 | -€301 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €891 | -€1,580 | -€2,471 | |
| Income taxes | 67/77 | €599 | €15 | -€584 | -97.4% |
| Profit (loss) for the period | 9904 | €292 | -€1,595 | -€1,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €292 | -€1,595 | -€1,887 |
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 2 October 2026 via checked.be.