FORGEX IMMO: 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.
FORGEX IMMO
Largest movements
- Receivables within one year +€61,087
up €61,087 (+9.3%), from €653,755 to €714,842
- Cash -€41,576
down €41,576 (-97.9%), from €42,488 to €912
mainly Provisions (-€103,805) and Receivables within one year (-€61,087)
- Provisions -€103,805
no longer reported in 2025 (was €103,805)
- Tax, wage and social debts +€98,160
up €98,160 (+260.9%), from €37,620 to €135,780
- Reserves +€26,586
up €26,586 (+5.0%), from €534,414 to €561,000
of which Distributable reserves: +€338,000
- Taxes +€110,126
up €110,126 (+855.8%), from €12,868 to €122,994
- Financial income -€3,233
down €3,233 (-6.5%), from €50,116 to €46,883
- Gross operating margin +€995
up €995 (+52.3%), from -€1,903 to -€908
- Other operating charges -€385
down €385 (-85.4%), from €451 to €66
- Financial charges +€30
up €30 (+5.5%), from €539 to €568
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 | €696,243 | €715,754 | +€19,511 | +2.8% |
| Current assets | 29/58 | €696,243 | €715,754 | +€19,511 | +2.8% |
| Amounts receivable within one year | 40/41 | €653,755 | €714,842 | +€61,087 | +9.3% |
| Other amounts receivable | 41 | €653,755 | €714,842 | +€61,087 | +9.3% |
| Cash at bank and in hand | 54/58 | €42,488 | €912 | -€41,576 | -97.9% |
| Total equity and liabilities | 10/49 | €696,243 | €715,754 | +€19,511 | +2.8% |
| Equity | 10/15 | €553,823 | €579,974 | +€26,151 | +4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €534,414 | €561,000 | +€26,586 | +5.0% |
| Tax-exempt reserves | 132 | €311,414 | - | -€311,414 | |
| Distributable reserves | 133 | €223,000 | €561,000 | +€338,000 | +151.6% |
| Profit (loss) carried forward | 14 | €817 | €382 | -€435 | -53.2% |
| Provisions and deferred taxes | 16 | €103,805 | - | -€103,805 | |
| Deferred taxes | 168 | €103,805 | - | -€103,805 | |
| Amounts payable | 17/49 | €38,616 | €135,780 | +€97,165 | +251.6% |
| Amounts payable within one year | 42/48 | €38,616 | €135,780 | +€97,165 | +251.6% |
| Trade debts | 44 | €995 | - | -€995 | |
| Suppliers | 440/4 | €995 | - | -€995 | |
| Taxes, remuneration and social security | 45 | €37,620 | €135,780 | +€98,160 | +260.9% |
| Taxes | 450/3 | €37,620 | €135,780 | +€98,160 | +260.9% |
| Other operating charges | 640/8 | €451 | €66 | -€385 | -85.4% |
| Gross operating margin | 9900 | -€1,903 | -€908 | +€995 | +52.3% |
| Operating profit (loss) | 9901 | -€2,354 | -€973 | +€1,381 | +58.7% |
| Financial income | 75/76B | €50,116 | €46,883 | -€3,233 | -6.5% |
| Recurring financial income | 75 | €50,116 | €46,883 | -€3,233 | -6.5% |
| Financial charges | 65/66B | €539 | €568 | +€30 | +5.5% |
| Recurring financial charges | 65 | €539 | €568 | +€30 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €47,224 | €45,341 | -€1,882 | -4.0% |
| Transfer from deferred taxes | 780 | - | €103,805 | +€103,805 | |
| Income taxes | 67/77 | €12,868 | €122,994 | +€110,126 | +855.8% |
| Profit (loss) for the period | 9904 | €34,355 | €26,151 | -€8,204 | -23.9% |
| Transfer from tax-exempt reserves | 789 | - | €311,414 | +€311,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,355 | €337,565 | +€303,210 | +882.6% |
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 28 September 2026 via checked.be.