FORSIMMO: what changed
Two fiscal 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.
FORSIMMO
Largest movements
- Cash +€192,595
up €192,595 (+36.2%), from €532,437 to €725,032
mainly Net result for the year (+€144,496) and Receivables within one year (+€39,417)
- Receivables within one year -€39,417
down €39,417 (-89.2%), from €44,176 to €4,759
of which Trade receivables: -€39,560
- Tangible fixed assets -€34,871
down €34,871 (-6.2%), from €558,851 to €523,980
of which Land and buildings: -€18,721
- Reserves +€98,640
up €98,640 (+15.6%), from €634,119 to €732,758
of which Distributable reserves: +€99,264
- Other debts +€22,276
up €22,276 (+138.7%), from €16,061 to €38,338
- Debts after one year -€13,333
no longer reported in 2025 (was €13,333)
- Gross operating margin +€48,158
up €48,158 (+26.4%), from €182,240 to €230,398
- Taxes +€12,858
up €12,858 (+29.3%), from €43,860 to €56,718
- Depreciation -€12,594
down €12,594 (-30.6%), from €41,111 to €28,517
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 | €1,138,833 | €1,257,039 | +€118,206 | +10.4% |
| Fixed assets | 21/28 | €558,910 | €524,039 | -€34,871 | -6.2% |
| Tangible fixed assets | 22/27 | €558,851 | €523,980 | -€34,871 | -6.2% |
| Land and buildings | 22 | €519,875 | €501,154 | -€18,721 | -3.6% |
| Furniture and vehicles | 24 | €38,976 | €22,826 | -€16,150 | -41.4% |
| Financial fixed assets | 28 | €59 | €59 | = | 0.0% |
| Current assets | 29/58 | €579,923 | €733,000 | +€153,077 | +26.4% |
| Amounts receivable within one year | 40/41 | €44,176 | €4,759 | -€39,417 | -89.2% |
| Trade receivables | 40 | €44,176 | €4,616 | -€39,560 | -89.6% |
| Other amounts receivable | 41 | - | €143 | +€143 | |
| Cash at bank and in hand | 54/58 | €532,437 | €725,032 | +€192,595 | +36.2% |
| Deferred charges and accrued income | 490/1 | €3,310 | €3,210 | -€101 | -3.0% |
| Total equity and liabilities | 10/49 | €1,138,833 | €1,257,039 | +€118,206 | +10.4% |
| Equity | 10/15 | €1,074,279 | €1,172,919 | +€98,640 | +9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €634,119 | €732,758 | +€98,640 | +15.6% |
| Tax-exempt reserves | 132 | €10,942 | €10,317 | -€624 | -5.7% |
| Distributable reserves | 133 | €623,177 | €722,441 | +€99,264 | +15.9% |
| Profit (loss) carried forward | 14 | €421,560 | €421,560 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,828 | €5,520 | -€308 | -5.3% |
| Deferred taxes | 168 | €5,828 | €5,520 | -€308 | -5.3% |
| Amounts payable | 17/49 | €58,726 | €78,600 | +€19,874 | +33.8% |
| Amounts payable after more than one year | 17 | €13,333 | - | -€13,333 | |
| Financial debts | 170/4 | €13,333 | - | -€13,333 | |
| Amounts payable within one year | 42/48 | €45,017 | €78,041 | +€33,024 | +73.4% |
| Current portion of amounts payable after more than one year | 42 | €3,556 | €2,666 | -€889 | -25.0% |
| Trade debts | 44 | €4,812 | €4,705 | -€107 | -2.2% |
| Suppliers | 440/4 | €4,812 | €4,705 | -€107 | -2.2% |
| Taxes, remuneration and social security | 45 | €20,588 | €32,332 | +€11,744 | +57.0% |
| Taxes | 450/3 | €17,856 | €29,574 | +€11,718 | +65.6% |
| Remuneration and social security | 454/9 | €2,732 | €2,758 | +€26 | +0.9% |
| Other amounts payable | 47/48 | €16,061 | €38,338 | +€22,276 | +138.7% |
| Accrued charges and deferred income | 492/3 | €377 | €559 | +€183 | +48.5% |
| Non-recurring operating income | 76A | - | €31,846 | +€31,846 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,111 | €28,517 | -€12,594 | -30.6% |
| Other operating charges | 640/8 | €2,634 | €2,366 | -€268 | -10.2% |
| Gross operating margin | 9900 | €182,240 | €230,398 | +€48,158 | +26.4% |
| Operating profit (loss) | 9901 | €138,496 | €199,515 | +€61,019 | +44.1% |
| Financial income | 75/76B | €1,872 | €3,155 | +€1,283 | +68.5% |
| Recurring financial income | 75 | €1,872 | €3,155 | +€1,283 | +68.5% |
| Financial charges | 65/66B | €2,607 | €1,764 | -€843 | -32.3% |
| Recurring financial charges | 65 | €2,607 | €1,764 | -€843 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €137,761 | €200,906 | +€63,145 | +45.8% |
| Transfer from deferred taxes | 780 | €308 | €308 | = | 0.0% |
| Income taxes | 67/77 | €43,860 | €56,718 | +€12,858 | +29.3% |
| Profit (loss) for the period | 9904 | €94,209 | €144,496 | +€50,287 | +53.4% |
| Transfer from tax-exempt reserves | 789 | €624 | €624 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,834 | €145,121 | +€50,287 | +53.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.