FORGAR: 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.
FORGAR
Largest movements
- Receivables within one year +€12,321
up €12,321 (+29.1%), from €42,350 to €54,671
of which Other amounts receivable: +€12,389
- Current investments +€12,000
up €12,000 (+300%), from €4,000 to €16,000
- Tangible fixed assets +€8,631
up €8,631 (+110%), from €7,840 to €16,471
of which Plant, machinery and equipment: +€10,841
- Cash +€1,221
up €1,221 (+3.8%), from €31,917 to €33,138
mainly Net result for the year (+€18,261) and Tax, wage and social debts (+€12,654)
- Reserves +€18,261
up €18,261 (+45.3%), from €40,287 to €58,547
- Tax, wage and social debts +€12,654
up €12,654 (+45.3%), from €27,905 to €40,559
of which Remuneration and social security: +€13,923
- Trade debts +€8,044
up €8,044 (+73.2%), from €10,992 to €19,036
- Other debts -€5,126
no longer reported in 2025 (was €5,126)
- Staff costs +€33,882
new in 2025: €33,882
- Taxes -€4,632
down €4,632 (-43.1%), from €10,735 to €6,103
- Financial charges -€3,998
down €3,998, from €2,610 to -€1,388
- Gross operating margin +€2,656
up €2,656 (+4.7%), from €56,728 to €59,384
- Depreciation -€635
down €635 (-20.2%), from €3,135 to €2,501
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 | €87,450 | €121,495 | +€34,044 | +38.9% |
| Fixed assets | 21/28 | €7,840 | €16,471 | +€8,631 | +110% |
| Tangible fixed assets | 22/27 | €7,840 | €16,471 | +€8,631 | +110% |
| Plant, machinery and equipment | 23 | €627 | €11,468 | +€10,841 | +1,729% |
| Furniture and vehicles | 24 | €7,213 | €5,003 | -€2,210 | -30.6% |
| Current assets | 29/58 | €79,610 | €105,023 | +€25,414 | +31.9% |
| Amounts receivable within one year | 40/41 | €42,350 | €54,671 | +€12,321 | +29.1% |
| Trade receivables | 40 | €42,350 | €42,281 | -€69 | -0.2% |
| Other amounts receivable | 41 | - | €12,389 | +€12,389 | |
| Current investments | 50/53 | €4,000 | €16,000 | +€12,000 | +300% |
| Cash at bank and in hand | 54/58 | €31,917 | €33,138 | +€1,221 | +3.8% |
| Deferred charges and accrued income | 490/1 | €1,343 | €1,215 | -€128 | -9.5% |
| Total equity and liabilities | 10/49 | €87,450 | €121,495 | +€34,044 | +38.9% |
| Equity | 10/15 | €43,287 | €61,547 | +€18,261 | +42.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €40,287 | €58,547 | +€18,261 | +45.3% |
| Distributable reserves | 133 | €40,287 | €58,547 | +€18,261 | +45.3% |
| Amounts payable | 17/49 | €44,163 | €59,947 | +€15,784 | +35.7% |
| Amounts payable within one year | 42/48 | €44,023 | €59,595 | +€15,572 | +35.4% |
| Trade debts | 44 | €10,992 | €19,036 | +€8,044 | +73.2% |
| Suppliers | 440/4 | €10,992 | €19,036 | +€8,044 | +73.2% |
| Taxes, remuneration and social security | 45 | €27,905 | €40,559 | +€12,654 | +45.3% |
| Taxes | 450/3 | €27,905 | €26,636 | -€1,269 | -4.5% |
| Remuneration and social security | 454/9 | - | €13,923 | +€13,923 | |
| Other amounts payable | 47/48 | €5,126 | - | -€5,126 | |
| Accrued charges and deferred income | 492/3 | €140 | €352 | +€212 | +151% |
| Non-recurring operating income | 76A | €8,171 | - | -€8,171 | |
| Remuneration, social security and pensions | 62 | - | €33,882 | +€33,882 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,135 | €2,501 | -€635 | -20.2% |
| Other operating charges | 640/8 | - | €300 | +€300 | |
| Gross operating margin | 9900 | €56,728 | €59,384 | +€2,656 | +4.7% |
| Operating profit (loss) | 9901 | €53,592 | €22,701 | -€30,891 | -57.6% |
| Financial income | 75/76B | €39 | €274 | +€236 | +609% |
| Recurring financial income | 75 | €39 | €274 | +€236 | +609% |
| Financial charges | 65/66B | €2,610 | -€1,388 | -€3,998 | |
| Recurring financial charges | 65 | €2,610 | -€1,388 | -€3,998 | |
| Profit (loss) for the period before taxes | 9903 | €51,021 | €24,363 | -€26,658 | -52.2% |
| Income taxes | 67/77 | €10,735 | €6,103 | -€4,632 | -43.1% |
| Profit (loss) for the period | 9904 | €40,287 | €18,261 | -€22,026 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,287 | €18,261 | -€22,026 | -54.7% |
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 22 October 2026 via checked.be.