FORPATH CONSULTANCY & RESEARCH: 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.
FORPATH CONSULTANCY & RESEARCH
Largest movements
- Current investments -€47,417
down €47,417 (-59.2%), from €80,146 to €32,729
- Cash -€35,222
down €35,222 (-35.9%), from €98,120 to €62,898
mainly Contributions, distributions and other (-€90,496) and Debts after one year (-€15,547)
- Receivables within one year +€9,455
up €9,455 (+38.7%), from €24,432 to €33,888
of which Other amounts receivable: +€7,665
- Tangible fixed assets -€7,005
down €7,005 (-7.4%), from €94,132 to €87,127
of which Land and buildings: -€11,000
- Reserves -€71,526
down €71,526 (-38.1%), from €187,872 to €116,346
of which Distributable reserves: -€69,666
- Debts after one year -€15,547
down €15,547 (-18.4%), from €84,321 to €68,774
- Trade debts +€7,258
up €7,258 (+79239.7%), from €9 to €7,268
- Gross operating margin -€14,182
down €14,182 (-29.8%), from €47,548 to €33,366
- Financial income +€8,210
up €8,210 (+119.5%), from €6,873 to €15,083
of which Non-recurring financial income: +€10,408
- Taxes -€4,544
down €4,544 (-44.1%), from €10,313 to €5,769
- Financial charges -€1,396
down €1,396 (-12.8%), from €10,901 to €9,506
- Depreciation -€741
down €741 (-5.2%), from €14,176 to €13,435
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 | €301,237 | €221,383 | -€79,854 | -26.5% |
| Fixed assets | 21/28 | €94,132 | €87,127 | -€7,005 | -7.4% |
| Tangible fixed assets | 22/27 | €94,132 | €87,127 | -€7,005 | -7.4% |
| Land and buildings | 22 | €89,333 | €78,333 | -€11,000 | -12.3% |
| Plant, machinery and equipment | 23 | €1,643 | €2,284 | +€640 | +39.0% |
| Furniture and vehicles | 24 | €472 | - | -€472 | |
| Other tangible fixed assets | 26 | €2,683 | €6,510 | +€3,826 | +142.6% |
| Current assets | 29/58 | €207,105 | €134,256 | -€72,849 | -35.2% |
| Amounts receivable within one year | 40/41 | €24,432 | €33,888 | +€9,455 | +38.7% |
| Trade receivables | 40 | €8,989 | €10,779 | +€1,790 | +19.9% |
| Other amounts receivable | 41 | €15,444 | €23,109 | +€7,665 | +49.6% |
| Current investments | 50/53 | €80,146 | €32,729 | -€47,417 | -59.2% |
| Cash at bank and in hand | 54/58 | €98,120 | €62,898 | -€35,222 | -35.9% |
| Deferred charges and accrued income | 490/1 | €4,407 | €4,742 | +€335 | +7.6% |
| Total equity and liabilities | 10/49 | €301,237 | €221,383 | -€79,854 | -26.5% |
| Equity | 10/15 | €200,272 | €128,746 | -€71,526 | -35.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €187,872 | €116,346 | -€71,526 | -38.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €186,012 | €116,346 | -€69,666 | -37.5% |
| Amounts payable | 17/49 | €100,964 | €92,636 | -€8,328 | -8.2% |
| Amounts payable after more than one year | 17 | €84,321 | €68,774 | -€15,547 | -18.4% |
| Financial debts | 170/4 | €84,321 | €68,774 | -€15,547 | -18.4% |
| Amounts payable within one year | 42/48 | €16,259 | €23,463 | +€7,203 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €14,804 | €15,547 | +€743 | +5.0% |
| Trade debts | 44 | €9 | €7,268 | +€7,258 | +79239.7% |
| Suppliers | 440/4 | €9 | €7,268 | +€7,258 | +79239.7% |
| Taxes, remuneration and social security | 45 | €1,446 | €649 | -€798 | -55.2% |
| Taxes | 450/3 | €1,446 | €649 | -€798 | -55.2% |
| Accrued charges and deferred income | 492/3 | €384 | €400 | +€15 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,176 | €13,435 | -€741 | -5.2% |
| Other operating charges | 640/8 | €1,199 | €770 | -€429 | -35.8% |
| Gross operating margin | 9900 | €47,548 | €33,366 | -€14,182 | -29.8% |
| Operating profit (loss) | 9901 | €32,173 | €19,161 | -€13,012 | -40.4% |
| Financial income | 75/76B | €6,873 | €15,083 | +€8,210 | +119.5% |
| Recurring financial income | 75 | €4,373 | €2,176 | -€2,197 | -50.2% |
| Non-recurring financial income | 76B | €2,500 | €12,908 | +€10,408 | +416.3% |
| Financial charges | 65/66B | €10,901 | €9,506 | -€1,396 | -12.8% |
| Recurring financial charges | 65 | €10,901 | €9,506 | -€1,396 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €28,145 | €24,739 | -€3,406 | -12.1% |
| Income taxes | 67/77 | €10,313 | €5,769 | -€4,544 | -44.1% |
| Profit (loss) for the period | 9904 | €17,831 | €18,969 | +€1,138 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,831 | €18,969 | +€1,138 | +6.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.