FORRESTIM: 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.
FORRESTIM
Largest movements
- Tangible fixed assets +€38,273
up €38,273 (+23.1%), from €165,370 to €203,643
of which Plant, machinery and equipment: +€38,273
- Cash -€17,100
down €17,100 (-57.3%), from €29,824 to €12,724
mainly Investment in fixed assets (net) (-€48,443) and Net result for the year (-€1,944)
- Other debts +€17,941
up €17,941 (+3.9%), from €462,000 to €479,941
- Gross operating margin -€7,490
down €7,490 (-30.5%), from €24,590 to €17,100
- Depreciation +€3,705
up €3,705 (+57.3%), from €6,465 to €10,169
- Other operating charges +€254
up €254 (+3.1%), from €8,072 to €8,325
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,601,812 | €1,618,314 | +€16,502 | +1.0% |
| Fixed assets | 21/28 | €1,565,668 | €1,603,941 | +€38,273 | +2.4% |
| Tangible fixed assets | 22/27 | €165,370 | €203,643 | +€38,273 | +23.1% |
| Land and buildings | 22 | €161,828 | €161,828 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,542 | €41,816 | +€38,273 | +1080.5% |
| Financial fixed assets | 28 | €1,400,298 | €1,400,298 | = | 0.0% |
| Current assets | 29/58 | €36,144 | €14,373 | -€21,771 | -60.2% |
| Amounts receivable within one year | 40/41 | - | €759 | +€759 | |
| Trade receivables | 40 | - | €759 | +€759 | |
| Cash at bank and in hand | 54/58 | €29,824 | €12,724 | -€17,100 | -57.3% |
| Deferred charges and accrued income | 490/1 | €6,320 | €890 | -€5,430 | -85.9% |
| Total equity and liabilities | 10/49 | €1,601,812 | €1,618,314 | +€16,502 | +1.0% |
| Equity | 10/15 | €1,137,271 | €1,135,327 | -€1,944 | -0.2% |
| Contributions | 10/11 | €1,098,696 | €1,098,696 | = | 0.0% |
| Capital | 10 | €1,098,696 | €1,098,696 | = | 0.0% |
| Issued capital | 100 | €1,098,696 | €1,098,696 | = | 0.0% |
| Reserves | 13 | €164,717 | €161,773 | -€2,945 | -1.8% |
| Non-distributable reserves | 130/1 | €116,619 | €116,619 | = | 0.0% |
| Legal reserve | 130 | €116,619 | €116,619 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,098 | €45,153 | -€2,945 | -6.1% |
| Profit (loss) carried forward | 14 | -€126,143 | -€125,141 | +€1,001 | +0.8% |
| Amounts payable | 17/49 | €464,541 | €482,987 | +€18,446 | +4.0% |
| Amounts payable within one year | 42/48 | €462,000 | €479,941 | +€17,941 | +3.9% |
| Other amounts payable | 47/48 | €462,000 | €479,941 | +€17,941 | +3.9% |
| Accrued charges and deferred income | 492/3 | €2,541 | €3,046 | +€505 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,465 | €10,169 | +€3,705 | +57.3% |
| Other operating charges | 640/8 | €8,072 | €8,325 | +€254 | +3.1% |
| Gross operating margin | 9900 | €24,590 | €17,100 | -€7,490 | -30.5% |
| Operating profit (loss) | 9901 | €10,053 | -€1,395 | -€11,448 | |
| Financial income | 75/76B | €130 | €32 | -€98 | -75.4% |
| Recurring financial income | 75 | €130 | €32 | -€98 | -75.4% |
| Financial charges | 65/66B | €410 | €581 | +€170 | +41.5% |
| Recurring financial charges | 65 | €410 | €581 | +€170 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €9,773 | -€1,944 | -€11,717 | |
| Profit (loss) for the period | 9904 | €9,773 | -€1,944 | -€11,717 | |
| Transfer from tax-exempt reserves | 789 | €2,945 | €2,945 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,718 | €1,001 | -€11,717 | -92.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.