Forrest4: 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.
Forrest4
Largest movements
- Cash -€24,406
down €24,406 (-39.4%), from €61,952 to €37,546
mainly Trade debts (-€30,076) and Other debts (-€616)
- Receivables within one year -€972
down €972 (-81.3%), from €1,196 to €224
- Trade debts -€30,076
down €30,076 (-85.2%), from €35,318 to €5,242
- Reserves +€2,869
new in 2025: €2,869
- Tax, wage and social debts +€1,578
up €1,578 (+760%), from €208 to €1,785
- Profit (loss) carried forward +€867
up €867, from -€867 to €0
- Gross operating margin +€4,958
up €4,958 (+153%), from €3,248 to €8,206
- Taxes +€1,370
up €1,370 (+660%), from €208 to €1,578
- Financial charges -€675
down €675 (-19.9%), from €3,390 to €2,715
- Other operating charges -€341
down €341 (-65.8%), from €519 to €177
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 | €63,148 | €37,770 | -€25,378 | -40.2% |
| Current assets | 29/58 | €63,148 | €37,770 | -€25,378 | -40.2% |
| Amounts receivable within one year | 40/41 | €1,196 | €224 | -€972 | -81.3% |
| Other amounts receivable | 41 | €1,196 | €224 | -€972 | -81.3% |
| Cash at bank and in hand | 54/58 | €61,952 | €37,546 | -€24,406 | -39.4% |
| Total equity and liabilities | 10/49 | €63,148 | €37,770 | -€25,378 | -40.2% |
| Equity | 10/15 | €133 | €3,869 | +€3,736 | +2,815% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €2,869 | +€2,869 | |
| Distributable reserves | 133 | - | €2,869 | +€2,869 | |
| Profit (loss) carried forward | 14 | -€867 | €0 | +€867 | |
| Amounts payable | 17/49 | €63,015 | €33,901 | -€29,114 | -46.2% |
| Amounts payable within one year | 42/48 | €63,015 | €33,901 | -€29,114 | -46.2% |
| Trade debts | 44 | €35,318 | €5,242 | -€30,076 | -85.2% |
| Suppliers | 440/4 | €35,318 | €5,242 | -€30,076 | -85.2% |
| Taxes, remuneration and social security | 45 | €208 | €1,785 | +€1,578 | +760% |
| Taxes | 450/3 | €208 | €1,785 | +€1,578 | +760% |
| Other amounts payable | 47/48 | €27,490 | €26,874 | -€616 | -2.2% |
| Other operating charges | 640/8 | €519 | €177 | -€341 | -65.8% |
| Gross operating margin | 9900 | €3,248 | €8,206 | +€4,958 | +153% |
| Operating profit (loss) | 9901 | €2,730 | €8,029 | +€5,299 | +194% |
| Financial charges | 65/66B | €3,390 | €2,715 | -€675 | -19.9% |
| Recurring financial charges | 65 | €3,390 | €2,715 | -€675 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€660 | €5,314 | +€5,974 | |
| Income taxes | 67/77 | €208 | €1,578 | +€1,370 | +660% |
| Profit (loss) for the period | 9904 | -€867 | €3,736 | +€4,604 | |
| Profit (loss) for the period to be appropriated | 9905 | -€867 | €3,736 | +€4,604 |
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 23 October 2026 via checked.be.