FORHED: 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.
FORHED
Largest movements
- Cash +€53,658
up €53,658 (+13.0%), from €411,509 to €465,166
mainly Net result for the year (+€50,231) and Trade debts (+€11,331)
- Receivables within one year +€15,496
up €15,496 (+85.1%), from €18,199 to €33,695
of which Trade receivables: +€26,827
- Tangible fixed assets -€7,908
down €7,908 (-29.1%), from €27,215 to €19,306
of which Furniture and vehicles: -€4,462
- Reserves +€50,231
up €50,231 (+11.2%), from €449,809 to €500,040
- Trade debts +€11,331
up €11,331 (+672%), from €1,686 to €13,018
- Financial income -€4,097
down €4,097 (-43.1%), from €9,508 to €5,411
- Gross operating margin +€2,141
up €2,141 (+2.9%), from €73,502 to €75,643
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 | €457,994 | €519,258 | +€61,263 | +13.4% |
| Fixed assets | 21/28 | €27,215 | €19,306 | -€7,908 | -29.1% |
| Tangible fixed assets | 22/27 | €27,215 | €19,306 | -€7,908 | -29.1% |
| Plant, machinery and equipment | 23 | €2,843 | €2,484 | -€359 | -12.6% |
| Furniture and vehicles | 24 | €8,783 | €4,321 | -€4,462 | -50.8% |
| Other tangible fixed assets | 26 | €15,589 | €12,502 | -€3,087 | -19.8% |
| Current assets | 29/58 | €430,780 | €499,951 | +€69,172 | +16.1% |
| Amounts receivable within one year | 40/41 | €18,199 | €33,695 | +€15,496 | +85.1% |
| Trade receivables | 40 | €3,173 | €30,000 | +€26,827 | +845% |
| Other amounts receivable | 41 | €15,025 | €3,695 | -€11,330 | -75.4% |
| Cash at bank and in hand | 54/58 | €411,509 | €465,166 | +€53,658 | +13.0% |
| Deferred charges and accrued income | 490/1 | €1,072 | €1,090 | +€18 | +1.7% |
| Total equity and liabilities | 10/49 | €457,994 | €519,258 | +€61,263 | +13.4% |
| Equity | 10/15 | €456,009 | €506,240 | +€50,231 | +11.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €449,809 | €500,040 | +€50,231 | +11.2% |
| Non-distributable reserves | 130/1 | €449,809 | €500,040 | +€50,231 | +11.2% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €447,949 | €498,180 | +€50,231 | +11.2% |
| Amounts payable | 17/49 | €1,985 | €13,018 | +€11,033 | +556% |
| Amounts payable within one year | 42/48 | €1,985 | €13,018 | +€11,033 | +556% |
| Trade debts | 44 | €1,686 | €13,018 | +€11,331 | +672% |
| Suppliers | 440/4 | €1,686 | €13,018 | +€11,331 | +672% |
| Other amounts payable | 47/48 | €299 | - | -€299 | |
| Turnover | 70 | €182,255 | €183,795 | +€1,540 | +0.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €111,829 | €111,143 | -€686 | -0.6% |
| Remuneration, social security and pensions | 62 | €1,745 | €1,636 | -€108 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,617 | €8,346 | -€271 | -3.1% |
| Other operating charges | 640/8 | €3,178 | €2,635 | -€542 | -17.1% |
| Gross operating margin | 9900 | €73,502 | €75,643 | +€2,141 | +2.9% |
| Operating profit (loss) | 9901 | €59,962 | €63,025 | +€3,063 | +5.1% |
| Financial income | 75/76B | €9,508 | €5,411 | -€4,097 | -43.1% |
| Recurring financial income | 75 | €9,508 | €5,411 | -€4,097 | -43.1% |
| Financial charges | 65/66B | €389 | €399 | +€10 | +2.5% |
| Recurring financial charges | 65 | €389 | €399 | +€10 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €69,081 | €68,037 | -€1,044 | -1.5% |
| Income taxes | 67/77 | €17,850 | €17,806 | -€43 | -0.2% |
| Profit (loss) for the period | 9904 | €51,231 | €50,231 | -€1,000 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,231 | €50,231 | -€1,000 | -2.0% |
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.