FORMA INVEST: 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.
FORMA INVEST
Largest movements
- Receivables after one year -€130,189
down €130,189 (-10.8%), from €1.2m to €1.1m
- Debts after one year -€153,822
down €153,822 (-24.4%), from €630,133 to €476,311
- Current portion of long-term debt +€63,321
up €63,321 (+10.7%), from €590,464 to €653,785
- Profit (loss) carried forward -€46,072
down €46,072 (-13.8%), from -€334,253 to -€380,325
- Financial charges -€51,582
down €51,582 (-38.2%), from €135,192 to €83,610
- Staff costs -€35,514
no longer reported in 2025 (was €35,514)
- Financial income -€15,167
down €15,167 (-37.4%), from €40,539 to €25,372
of which Financial income: -€20,729
- Gross operating margin +€4,627
up €4,627 (+60.2%), from €7,685 to €12,311
- Other operating charges -€980
down €980 (-88.4%), from €1,108 to €128
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 | €1,547,208 | €1,405,123 | -€142,085 | -9.2% |
| Fixed assets | 21/28 | €1 | €1 | = | 0.0% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €1,547,207 | €1,405,122 | -€142,085 | -9.2% |
| Amounts receivable after more than one year | 29 | €1,207,040 | €1,076,851 | -€130,189 | -10.8% |
| Other amounts receivable | 291 | €1,207,040 | €1,076,851 | -€130,189 | -10.8% |
| Amounts receivable within one year | 40/41 | €333,943 | €328,164 | -€5,779 | -1.7% |
| Trade receivables | 40 | €20,625 | €14,846 | -€5,779 | -28.0% |
| Other amounts receivable | 41 | €313,318 | €313,318 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,223 | €107 | -€6,117 | -98.3% |
| Total equity and liabilities | 10/49 | €1,547,208 | €1,405,123 | -€142,085 | -9.2% |
| Equity | 10/15 | -€315,653 | -€361,725 | -€46,072 | -14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€334,253 | -€380,325 | -€46,072 | -13.8% |
| Amounts payable | 17/49 | €1,862,860 | €1,766,848 | -€96,013 | -5.2% |
| Amounts payable after more than one year | 17 | €630,133 | €476,311 | -€153,822 | -24.4% |
| Financial debts | 170/4 | €630,133 | €476,311 | -€153,822 | -24.4% |
| Amounts payable within one year | 42/48 | €1,232,727 | €1,290,537 | +€57,809 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €590,464 | €653,785 | +€63,321 | +10.7% |
| Trade debts | 44 | €53,087 | €41,808 | -€11,279 | -21.2% |
| Suppliers | 440/4 | €53,087 | €41,808 | -€11,279 | -21.2% |
| Taxes, remuneration and social security | 45 | €10,561 | €1,114 | -€9,446 | -89.4% |
| Taxes | 450/3 | €4,999 | €1,114 | -€3,885 | -77.7% |
| Remuneration and social security | 454/9 | €5,562 | - | -€5,562 | |
| Other amounts payable | 47/48 | €578,616 | €593,829 | +€15,213 | +2.6% |
| Remuneration, social security and pensions | 62 | €35,514 | - | -€35,514 | |
| Other operating charges | 640/8 | €1,108 | €128 | -€980 | -88.4% |
| Gross operating margin | 9900 | €7,685 | €12,311 | +€4,627 | +60.2% |
| Operating profit (loss) | 9901 | -€28,937 | €12,183 | +€41,121 | |
| Financial income | 75/76B | €40,539 | €25,372 | -€15,167 | -37.4% |
| Recurring financial income | 75 | €40,539 | €19,811 | -€20,729 | -51.1% |
| Non-recurring financial income | 76B | - | €5,562 | +€5,562 | |
| Financial charges | 65/66B | €135,192 | €83,610 | -€51,582 | -38.2% |
| Recurring financial charges | 65 | €135,192 | €83,610 | -€51,582 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | -€123,590 | -€46,055 | +€77,535 | +62.7% |
| Income taxes | 67/77 | - | €17 | +€17 | |
| Profit (loss) for the period | 9904 | -€123,590 | -€46,072 | +€77,518 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€123,590 | -€46,072 | +€77,518 | +62.7% |
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 28 October 2026 via checked.be.