FORMA: what changed
FORMA
Largest movements
- Cash +€149,276
up €149,276 (+64.6%), from €231,189 to €380,465
- Receivables within one year +€86,599
up €86,599 (+21.3%), from €407,312 to €493,911
of which Trade receivables: +€81,599
- Tangible fixed assets +€49,027
up €49,027 (+37.1%), from €132,124 to €181,151
of which Furniture and vehicles: +€51,900
- Deferred charges and accrued income +€14,289
up €14,289 (+538%), from €2,656 to €16,946
- Profit (loss) carried forward +€282,943
up €282,943, from -€94,457 to €188,485
- Tax, wage and social debts +€87,373
up €87,373 (+71.0%), from €123,034 to €210,407
of which Taxes: +€60,619
- Current portion of long-term debt -€18,278
down €18,278 (-20.7%), from €88,248 to €69,970
- Debts after one year -€17,666
down €17,666 (-13.9%), from €127,255 to €109,589
- Trade debts -€17,654
down €17,654 (-8.8%), from €200,318 to €182,664
- Financial charges -€837,273
down €837,273 (-96.9%), from €864,205 to €26,932
of which Non-recurring financial charges: -€775,000
- Gross operating margin +€445,961
up €445,961 (+53.9%), from €827,230 to €1.3m
- Staff costs +€232,444
up €232,444 (+39.4%), from €589,636 to €822,080
- Financial income -€89,305
down €89,305 (-99.9%), from €89,393 to €88
of which Financial income: -€89,305
- Depreciation +€37,297
up €37,297 (+187%), from €19,977 to €57,273
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €787,176 | €1,086,232 | +€299,056 | +38.0% |
| Fixed assets | 21/28 | €146,019 | €194,911 | +€48,892 | +33.5% |
| Tangible fixed assets | 22/27 | €132,124 | €181,151 | +€49,027 | +37.1% |
| Land and buildings | 22 | €80,980 | €78,107 | -€2,873 | -3.5% |
| Furniture and vehicles | 24 | €51,144 | €103,044 | +€51,900 | +101% |
| Financial fixed assets | 28 | €13,895 | €13,760 | -€135 | -1.0% |
| Current assets | 29/58 | €641,158 | €891,322 | +€250,164 | +39.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €407,312 | €493,911 | +€86,599 | +21.3% |
| Trade receivables | 40 | €381,336 | €462,935 | +€81,599 | +21.4% |
| Other amounts receivable | 41 | €25,976 | €30,976 | +€5,000 | +19.2% |
| Cash at bank and in hand | 54/58 | €231,189 | €380,465 | +€149,276 | +64.6% |
| Deferred charges and accrued income | 490/1 | €2,656 | €16,946 | +€14,289 | +538% |
| Total equity and liabilities | 10/49 | €787,176 | €1,086,232 | +€299,056 | +38.0% |
| Equity | 10/15 | €61,743 | €344,685 | +€282,943 | +458% |
| Contributions | 10/11 | €156,200 | €156,200 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€94,457 | €188,485 | +€282,943 | |
| Amounts payable | 17/49 | €725,433 | €741,547 | +€16,114 | +2.2% |
| Amounts payable after more than one year | 17 | €127,255 | €109,589 | -€17,666 | -13.9% |
| Financial debts | 170/4 | €127,255 | €109,589 | -€17,666 | -13.9% |
| Amounts payable within one year | 42/48 | €555,600 | €603,041 | +€47,441 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €88,248 | €69,970 | -€18,278 | -20.7% |
| Financial debts | 43 | €140,000 | €140,000 | = | 0.0% |
| Credit institutions | 430/8 | €140,000 | €140,000 | = | 0.0% |
| Trade debts | 44 | €200,318 | €182,664 | -€17,654 | -8.8% |
| Suppliers | 440/4 | €200,318 | €182,664 | -€17,654 | -8.8% |
| Taxes, remuneration and social security | 45 | €123,034 | €210,407 | +€87,373 | +71.0% |
| Taxes | 450/3 | €19,759 | €80,379 | +€60,619 | +307% |
| Remuneration and social security | 454/9 | €103,275 | €130,029 | +€26,754 | +25.9% |
| Other amounts payable | 47/48 | €4,000 | €0 | -€4,000 | -100% |
| Accrued charges and deferred income | 492/3 | €42,578 | €28,917 | -€13,661 | -32.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €589,636 | €822,080 | +€232,444 | +39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,977 | €57,273 | +€37,297 | +187% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,353 | +€1,353 | |
| Other operating charges | 640/8 | €6,737 | €9,390 | +€2,653 | +39.4% |
| Gross operating margin | 9900 | €827,230 | €1,273,191 | +€445,961 | +53.9% |
| Operating profit (loss) | 9901 | €210,881 | €383,095 | +€172,214 | +81.7% |
| Financial income | 75/76B | €89,393 | €88 | -€89,305 | -99.9% |
| Recurring financial income | 75 | €89,393 | €88 | -€89,305 | -99.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €864,205 | €26,932 | -€837,273 | -96.9% |
| Recurring financial charges | 65 | €89,205 | €26,932 | -€62,273 | -69.8% |
| Non-recurring financial charges | 66B | €775,000 | €0 | -€775,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€563,931 | €356,251 | +€920,182 | |
| Income taxes | 67/77 | €61,040 | €73,030 | +€11,990 | +19.6% |
| Profit (loss) for the period | 9904 | -€624,971 | €283,221 | +€908,192 | |
| Profit (loss) for the period to be appropriated | 9905 | -€624,971 | €283,221 | +€908,192 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.