FORSET: 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.
What changed
FORSET
NACE 73.300, Public relations and communication consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€162,918
2024 · €146,814+€16,105
Equity
€1.9m
2024 · €1.7m+€162,918
Cash
€50
2024 · €11,537-€11,487
Balance sheet total
€3.3m
2024 · €3.1m+€159,585
Largest movements
Assets
- Receivables after one year +€181,348
up €181,348 (+9.3%), from €1.9m to €2.1m
Equity and liabilities
- Profit (loss) carried forward +€168,530
up €168,530 (+22.7%), from €742,162 to €910,693
Income statement
- Gross operating margin +€17,301
up €17,301 (+24.5%), from €70,727 to €88,028
- Depreciation -€3,313
down €3,313 (-19.2%), from €17,280 to €13,966
- Financial income -€3,171
down €3,171 (-2.8%), from €112,099 to €108,927
- Financial charges +€2,637
up €2,637 (+15.0%), from €17,558 to €20,196
- Other operating charges -€1,497
down €1,497 (-31.4%), from €4,776 to €3,278
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.
Result 2024
€146,814
Gross operating margin
+€17,301
Depreciation
+€3,313
Other operating charges
+€1,497
Other operating items
-€150
Financial income
-€3,171
Financial charges
-€2,637
Taxes
-€49
Result 2025
€162,918
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€14,466
Investment
-€1,634
Financing
-€24,320
Cash 2024
€11,537
From operations (derived)
+€14,466
Net result for the year
+€162,918
Depreciation
+€13,966
Receivables after one year
-€181,348
Receivables within one year
-€1,569
Deferred charges and accrued income
-€488
Provisions
-€3,774
Trade debts
+€18,901
Tax, wage and social debts
+€5,859
Investment (derived)
-€1,634
Investment in fixed assets (net)
-€1,634
Financing
-€24,320
Debts after one year
-€24,949
Short-term financial debts
+€629
Cash 2025
€50
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,108,704 | €3,268,289 | +€159,585 | +5.1% |
| Fixed assets | 21/28 | €1,131,657 | €1,119,325 | -€12,333 | -1.1% |
| Intangible fixed assets | 21 | €80 | - | -€80 | |
| Tangible fixed assets | 22/27 | €1,131,577 | €1,119,325 | -€12,253 | -1.1% |
| Land and buildings | 22 | €1,124,538 | €1,113,536 | -€11,002 | -1.0% |
| Furniture and vehicles | 24 | €7,039 | €5,789 | -€1,250 | -17.8% |
| Current assets | 29/58 | €1,977,047 | €2,148,965 | +€171,918 | +8.7% |
| Amounts receivable after more than one year | 29 | €1,940,127 | €2,121,475 | +€181,348 | +9.3% |
| Other amounts receivable | 291 | €1,940,127 | €2,121,475 | +€181,348 | +9.3% |
| Amounts receivable within one year | 40/41 | €24,812 | €26,381 | +€1,569 | +6.3% |
| Trade receivables | 40 | €19,999 | €20,774 | +€775 | +3.9% |
| Other amounts receivable | 41 | €4,814 | €5,608 | +€794 | +16.5% |
| Cash at bank and in hand | 54/58 | €11,537 | €50 | -€11,487 | -99.6% |
| Deferred charges and accrued income | 490/1 | €570 | €1,058 | +€488 | +85.6% |
| Total equity and liabilities | 10/49 | €3,108,704 | €3,268,289 | +€159,585 | +5.1% |
| Equity | 10/15 | €1,717,463 | €1,880,381 | +€162,918 | +9.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €907,918 | €907,918 | = | 0.0% |
| Reserves | 13 | €48,790 | €43,178 | -€5,612 | -11.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €46,931 | €41,319 | -€5,612 | -12.0% |
| Profit (loss) carried forward | 14 | €742,162 | €910,693 | +€168,530 | +22.7% |
| Provisions and deferred taxes | 16 | €31,364 | €27,591 | -€3,774 | -12.0% |
| Deferred taxes | 168 | €31,364 | €27,591 | -€3,774 | -12.0% |
| Amounts payable | 17/49 | €1,359,878 | €1,360,318 | +€440 | 0.0% |
| Amounts payable after more than one year | 17 | €1,318,880 | €1,293,932 | -€24,949 | -1.9% |
| Financial debts | 170/4 | €1,318,880 | €1,293,932 | -€24,949 | -1.9% |
| Amounts payable within one year | 42/48 | €40,997 | €66,386 | +€25,389 | +61.9% |
| Financial debts | 43 | €6,320 | €6,949 | +€629 | +9.9% |
| Credit institutions | 430/8 | €6,320 | €6,949 | +€629 | +9.9% |
| Trade debts | 44 | €22,689 | €41,590 | +€18,901 | +83.3% |
| Suppliers | 440/4 | €22,689 | €41,590 | +€18,901 | +83.3% |
| Taxes, remuneration and social security | 45 | €11,988 | €17,847 | +€5,859 | +48.9% |
| Taxes | 450/3 | €11,988 | €17,847 | +€5,859 | +48.9% |
| Non-recurring operating income | 76A | €7,526 | - | -€7,526 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,280 | €13,966 | -€3,313 | -19.2% |
| Other operating charges | 640/8 | €4,776 | €3,278 | -€1,497 | -31.4% |
| Non-recurring operating charges | 66A | - | €150 | +€150 | |
| Gross operating margin | 9900 | €70,727 | €88,028 | +€17,301 | +24.5% |
| Operating profit (loss) | 9901 | €48,671 | €70,633 | +€21,962 | +45.1% |
| Financial income | 75/76B | €112,099 | €108,927 | -€3,171 | -2.8% |
| Recurring financial income | 75 | €112,099 | €108,927 | -€3,171 | -2.8% |
| Financial charges | 65/66B | €17,558 | €20,196 | +€2,637 | +15.0% |
| Recurring financial charges | 65 | €17,558 | €20,196 | +€2,637 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €143,212 | €159,365 | +€16,153 | +11.3% |
| Transfer from deferred taxes | 780 | €3,774 | €3,774 | = | 0.0% |
| Income taxes | 67/77 | €171 | €220 | +€49 | +28.4% |
| Profit (loss) for the period | 9904 | €146,814 | €162,918 | +€16,105 | +11.0% |
| Transfer from tax-exempt reserves | 789 | €5,612 | €5,612 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €152,426 | €168,530 | +€16,105 | +10.6% |
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 17 October 2026 via checked.be.