FORSAM: 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.
FORSAM
Largest movements
- Current investments -€60,000
down €60,000 (-100%), from €60,000 to €0
- Cash +€21,703
up €21,703 (+55.4%), from €39,185 to €60,888
mainly Current investments (+€60,000) and Net result for the year (+€16,978)
- Tangible fixed assets -€9,760
down €9,760 (-23.4%), from €41,742 to €31,981
of which Furniture and vehicles: -€11,956
- Receivables within one year -€4,948
down €4,948 (-34.8%), from €14,215 to €9,268
of which Trade receivables: -€10,326
- Reserves -€31,122
down €31,122 (-28.6%), from €108,671 to €77,549
- Tax, wage and social debts -€16,935
down €16,935 (-66.8%), from €25,342 to €8,407
- Other debts -€2,308
down €2,308 (-23.0%), from €10,044 to €7,736
- Gross operating margin -€35,773
down €35,773 (-47.1%), from €76,008 to €40,236
- Taxes -€5,516
down €5,516 (-41.2%), from €13,381 to €7,865
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 | €157,709 | €105,749 | -€51,960 | -32.9% |
| Fixed assets | 21/28 | €41,742 | €31,981 | -€9,760 | -23.4% |
| Tangible fixed assets | 22/27 | €41,742 | €31,981 | -€9,760 | -23.4% |
| Plant, machinery and equipment | 23 | €11,062 | €9,758 | -€1,304 | -11.8% |
| Furniture and vehicles | 24 | €30,680 | €18,724 | -€11,956 | -39.0% |
| Other tangible fixed assets | 26 | - | €3,500 | +€3,500 | |
| Current assets | 29/58 | €115,967 | €73,768 | -€42,200 | -36.4% |
| Amounts receivable within one year | 40/41 | €14,215 | €9,268 | -€4,948 | -34.8% |
| Trade receivables | 40 | €14,160 | €3,834 | -€10,326 | -72.9% |
| Other amounts receivable | 41 | €56 | €5,434 | +€5,379 | +9,691% |
| Current investments | 50/53 | €60,000 | €0 | -€60,000 | -100% |
| Cash at bank and in hand | 54/58 | €39,185 | €60,888 | +€21,703 | +55.4% |
| Deferred charges and accrued income | 490/1 | €2,567 | €3,612 | +€1,045 | +40.7% |
| Total equity and liabilities | 10/49 | €157,709 | €105,749 | -€51,960 | -32.9% |
| Equity | 10/15 | €113,671 | €82,549 | -€31,122 | -27.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €108,671 | €77,549 | -€31,122 | -28.6% |
| Distributable reserves | 133 | €108,671 | €77,549 | -€31,122 | -28.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €44,038 | €23,200 | -€20,838 | -47.3% |
| Amounts payable within one year | 42/48 | €42,580 | €22,466 | -€20,114 | -47.2% |
| Trade debts | 44 | €7,195 | €6,324 | -€871 | -12.1% |
| Suppliers | 440/4 | €7,195 | €6,324 | -€871 | -12.1% |
| Taxes, remuneration and social security | 45 | €25,342 | €8,407 | -€16,935 | -66.8% |
| Taxes | 450/3 | €25,342 | €8,407 | -€16,935 | -66.8% |
| Other amounts payable | 47/48 | €10,044 | €7,736 | -€2,308 | -23.0% |
| Accrued charges and deferred income | 492/3 | €1,458 | €734 | -€724 | -49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,639 | €13,260 | +€621 | +4.9% |
| Other operating charges | 640/8 | €1,764 | €2,070 | +€306 | +17.4% |
| Gross operating margin | 9900 | €76,008 | €40,236 | -€35,773 | -47.1% |
| Operating profit (loss) | 9901 | €61,605 | €24,905 | -€36,700 | -59.6% |
| Financial income | 75/76B | €1,227 | €715 | -€512 | -41.7% |
| Recurring financial income | 75 | €1,227 | €715 | -€512 | -41.7% |
| Financial charges | 65/66B | €1,283 | €778 | -€505 | -39.4% |
| Recurring financial charges | 65 | €1,283 | €778 | -€505 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €61,549 | €24,842 | -€36,706 | -59.6% |
| Income taxes | 67/77 | €13,381 | €7,865 | -€5,516 | -41.2% |
| Profit (loss) for the period | 9904 | €48,168 | €16,978 | -€31,190 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €48,168 | €16,978 | -€31,190 | -64.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.