FORQUEST: 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.
FORQUEST
Largest movements
- Cash -€46,144
down €46,144 (-85.1%), from €54,224 to €8,079
mainly Advances received (-€29,979) and Deferred charges and accrued income (-€25,659)
- Deferred charges and accrued income +€25,659
new in 2025: €25,659
- Tangible fixed assets -€8,945
down €8,945 (-6.3%), from €143,081 to €134,136
of which Other tangible fixed assets: -€12,777
- Receivables within one year +€3,688
up €3,688 (+12.1%), from €30,521 to €34,209
- Advances received -€29,979
no longer reported in 2025 (was €29,979)
- Other debts +€11,190
up €11,190 (+357.7%), from €3,128 to €14,318
- Profit (loss) carried forward -€10,331
down €10,331 (-50.0%), from -€20,651 to -€30,982
- Trade debts +€5,364
up €5,364 (+559.8%), from €958 to €6,322
- Debts after one year -€2,809
down €2,809 (-2.3%), from €123,761 to €120,952
- Gross operating margin -€30,293
down €30,293 (-61.3%), from €49,393 to €19,100
- Taxes -€7,202
down €7,202 (-98.0%), from €7,348 to €146
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 | €227,825 | €202,082 | -€25,743 | -11.3% |
| Fixed assets | 21/28 | €143,081 | €134,136 | -€8,945 | -6.3% |
| Tangible fixed assets | 22/27 | €143,081 | €134,136 | -€8,945 | -6.3% |
| Furniture and vehicles | 24 | €9,019 | €12,851 | +€3,832 | +42.5% |
| Other tangible fixed assets | 26 | €134,062 | €121,285 | -€12,777 | -9.5% |
| Current assets | 29/58 | €84,744 | €67,947 | -€16,798 | -19.8% |
| Amounts receivable within one year | 40/41 | €30,521 | €34,209 | +€3,688 | +12.1% |
| Trade receivables | 40 | €30,521 | €34,209 | +€3,688 | +12.1% |
| Cash at bank and in hand | 54/58 | €54,224 | €8,079 | -€46,144 | -85.1% |
| Deferred charges and accrued income | 490/1 | - | €25,659 | +€25,659 | |
| Total equity and liabilities | 10/49 | €227,825 | €202,082 | -€25,743 | -11.3% |
| Equity | 10/15 | €53,305 | €42,975 | -€10,331 | -19.4% |
| Contributions | 10/11 | €67,233 | €67,233 | = | 0.0% |
| Reserves | 13 | €6,723 | €6,723 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,723 | €6,723 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,723 | €6,723 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,651 | -€30,982 | -€10,331 | -50.0% |
| Amounts payable | 17/49 | €174,520 | €159,108 | -€15,412 | -8.8% |
| Amounts payable after more than one year | 17 | €123,761 | €120,952 | -€2,809 | -2.3% |
| Financial debts | 170/4 | €123,761 | €120,952 | -€2,809 | -2.3% |
| Amounts payable within one year | 42/48 | €50,758 | €38,156 | -€12,602 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €1,081 | €1,945 | +€864 | +79.9% |
| Trade debts | 44 | €958 | €6,322 | +€5,364 | +559.8% |
| Suppliers | 440/4 | €958 | €6,322 | +€5,364 | +559.8% |
| Advances received on contracts in progress | 46 | €29,979 | - | -€29,979 | |
| Taxes, remuneration and social security | 45 | €15,612 | €15,571 | -€41 | -0.3% |
| Taxes | 450/3 | €11,712 | €14,221 | +€2,509 | +21.4% |
| Remuneration and social security | 454/9 | €3,900 | €1,350 | -€2,550 | -65.4% |
| Other amounts payable | 47/48 | €3,128 | €14,318 | +€11,190 | +357.7% |
| Non-recurring operating income | 76A | - | €658 | +€658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,573 | €17,059 | +€486 | +2.9% |
| Other operating charges | 640/8 | €2,066 | €1,989 | -€77 | -3.7% |
| Gross operating margin | 9900 | €49,393 | €19,100 | -€30,293 | -61.3% |
| Operating profit (loss) | 9901 | €30,753 | €52 | -€30,702 | -99.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,912 | €10,237 | +€326 | +3.3% |
| Recurring financial charges | 65 | €9,912 | €10,237 | +€326 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €20,842 | -€10,185 | -€31,027 | |
| Income taxes | 67/77 | €7,348 | €146 | -€7,202 | -98.0% |
| Profit (loss) for the period | 9904 | €13,494 | -€10,331 | -€23,825 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,494 | -€10,331 | -€23,825 |
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 10 October 2026 via checked.be.