FORET IMMO: 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.
FORET IMMO
Largest movements
- Tangible fixed assets -€67,857
down €67,857 (-5.4%), from €1.2m to €1.2m
- Cash -€59,853
down €59,853 (-31.3%), from €191,054 to €131,201
mainly Debts after one year (-€127,397) and Contributions, distributions and other (-€46,600)
- Debts after one year -€127,397
down €127,397 (-28.3%), from €450,576 to €323,179
- Gross operating margin -€8,137
down €8,137 (-3.7%), from €222,776 to €214,638
- Financial charges -€5,061
down €5,061 (-18.7%), from €27,006 to €21,945
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 | €1,440,561 | €1,313,597 | -€126,964 | -8.8% |
| Fixed assets | 21/28 | €1,248,696 | €1,180,839 | -€67,857 | -5.4% |
| Tangible fixed assets | 22/27 | €1,248,696 | €1,180,839 | -€67,857 | -5.4% |
| Land and buildings | 22 | €1,248,696 | €1,180,839 | -€67,857 | -5.4% |
| Current assets | 29/58 | €191,865 | €132,758 | -€59,107 | -30.8% |
| Amounts receivable within one year | 40/41 | €784 | €1,530 | +€746 | +95.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €784 | €1,530 | +€746 | +95.1% |
| Cash at bank and in hand | 54/58 | €191,054 | €131,201 | -€59,853 | -31.3% |
| Deferred charges and accrued income | 490/1 | €27 | €27 | +€0 | +0.9% |
| Total equity and liabilities | 10/49 | €1,440,561 | €1,313,597 | -€126,964 | -8.8% |
| Equity | 10/15 | €805,358 | €813,106 | +€7,747 | +1.0% |
| Contributions | 10/11 | €35,215 | €35,215 | = | 0.0% |
| Reserves | 13 | €244,769 | €252,169 | +€7,400 | +3.0% |
| Tax-exempt reserves | 132 | €2,398 | €2,398 | = | 0.0% |
| Distributable reserves | 133 | €242,371 | €249,771 | +€7,400 | +3.1% |
| Profit (loss) carried forward | 14 | €525,374 | €525,722 | +€347 | +0.1% |
| Amounts payable | 17/49 | €635,203 | €500,492 | -€134,711 | -21.2% |
| Amounts payable after more than one year | 17 | €450,576 | €323,179 | -€127,397 | -28.3% |
| Financial debts | 170/4 | €450,576 | €323,179 | -€127,397 | -28.3% |
| Amounts payable within one year | 42/48 | €184,626 | €177,312 | -€7,314 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €124,388 | €127,397 | +€3,009 | +2.4% |
| Financial debts | 43 | €10,028 | €0 | -€10,028 | -100.0% |
| Credit institutions | 430/8 | €10,028 | €0 | -€10,028 | -100.0% |
| Trade debts | 44 | - | €1,200 | +€1,200 | |
| Suppliers | 440/4 | - | €1,200 | +€1,200 | |
| Taxes, remuneration and social security | 45 | €1,955 | €0 | -€1,955 | -100.0% |
| Taxes | 450/3 | €1,955 | €0 | -€1,955 | -100.0% |
| Other amounts payable | 47/48 | €48,255 | €48,715 | +€461 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,818 | €76,393 | +€575 | +0.8% |
| Other operating charges | 640/8 | €35,616 | €36,711 | +€1,094 | +3.1% |
| Gross operating margin | 9900 | €222,776 | €214,638 | -€8,137 | -3.7% |
| Operating profit (loss) | 9901 | €111,342 | €101,535 | -€9,807 | -8.8% |
| Financial charges | 65/66B | €27,006 | €21,945 | -€5,061 | -18.7% |
| Recurring financial charges | 65 | €27,006 | €21,945 | -€5,061 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €84,336 | €79,590 | -€4,746 | -5.6% |
| Income taxes | 67/77 | €26,969 | €25,243 | -€1,726 | -6.4% |
| Profit (loss) for the period | 9904 | €57,367 | €54,347 | -€3,020 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,367 | €54,347 | -€3,020 | -5.3% |
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 9 October 2026 via checked.be.