FORST: 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.
FORST
Largest movements
- Receivables within one year -€107,937
down €107,937 (-75.8%), from €142,346 to €34,409
of which Other amounts receivable: -€63,998
- Tangible fixed assets +€70,397
up €70,397 (+28.0%), from €251,111 to €321,508
of which Other tangible fixed assets: +€70,103
- Stocks and contracts -€8,288
no longer reported in 2026 (was €8,288)
- Profit (loss) carried forward -€98,372
down €98,372 (-4442.3%), from -€2,214 to -€100,586
- Other debts +€42,432
up €42,432 (+30.2%), from €140,355 to €182,787
- Trade debts +€33,270
up €33,270 (+77.2%), from €43,097 to €76,367
- Debts after one year +€30,171
up €30,171 (+93.3%), from €32,345 to €62,515
- Tax, wage and social debts -€28,846
down €28,846 (-86.9%), from €33,190 to €4,345
- Gross operating margin -€143,049
down €143,049, from €107,384 to -€35,665
- Turnover -€69,982
down €69,982 (-12.8%), from €545,926 to €475,945
- Purchases and services +€67,157
up €67,157 (+15.1%), from €444,893 to €512,051
- Other operating charges -€24,894
down €24,894 (-84.0%), from €29,653 to €4,759
- Depreciation -€5,880
down €5,880 (-14.6%), from €40,272 to €34,392
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 | €432,252 | €385,059 | -€47,193 | -10.9% |
| Formation expenses | 20 | €239 | - | -€239 | |
| Fixed assets | 21/28 | €281,380 | €348,277 | +€66,897 | +23.8% |
| Intangible fixed assets | 21 | €19,274 | €15,774 | -€3,500 | -18.2% |
| Tangible fixed assets | 22/27 | €251,111 | €321,508 | +€70,397 | +28.0% |
| Furniture and vehicles | 24 | €857 | €1,151 | +€294 | +34.4% |
| Other tangible fixed assets | 26 | €250,254 | €320,357 | +€70,103 | +28.0% |
| Financial fixed assets | 28 | €10,995 | €10,995 | = | 0.0% |
| Current assets | 29/58 | €150,634 | €36,783 | -€113,851 | -75.6% |
| Stocks and contracts in progress | 3 | €8,288 | - | -€8,288 | |
| Stocks | 30/36 | €8,288 | - | -€8,288 | |
| Amounts receivable within one year | 40/41 | €142,346 | €34,409 | -€107,937 | -75.8% |
| Trade receivables | 40 | €46,528 | €2,589 | -€43,940 | -94.4% |
| Other amounts receivable | 41 | €95,818 | €31,820 | -€63,998 | -66.8% |
| Cash at bank and in hand | 54/58 | - | €2,374 | +€2,374 | |
| Total equity and liabilities | 10/49 | €432,252 | €385,059 | -€47,193 | -10.9% |
| Equity | 10/15 | €132,786 | €34,414 | -€98,372 | -74.1% |
| Contributions | 10/11 | €135,000 | €135,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,214 | -€100,586 | -€98,372 | -4442.3% |
| Amounts payable | 17/49 | €299,467 | €350,646 | +€51,179 | +17.1% |
| Amounts payable after more than one year | 17 | €32,345 | €62,515 | +€30,171 | +93.3% |
| Financial debts | 170/4 | €32,345 | €62,515 | +€30,171 | +93.3% |
| Amounts payable within one year | 42/48 | €267,122 | €288,131 | +€21,008 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €38,168 | €24,632 | -€13,536 | -35.5% |
| Financial debts | 43 | €12,312 | - | -€12,312 | |
| Credit institutions | 430/8 | €12,312 | - | -€12,312 | |
| Trade debts | 44 | €43,097 | €76,367 | +€33,270 | +77.2% |
| Suppliers | 440/4 | €43,097 | €76,367 | +€33,270 | +77.2% |
| Taxes, remuneration and social security | 45 | €33,190 | €4,345 | -€28,846 | -86.9% |
| Taxes | 450/3 | €33,190 | €4,345 | -€28,846 | -86.9% |
| Other amounts payable | 47/48 | €140,355 | €182,787 | +€42,432 | +30.2% |
| Turnover | 70 | €545,926 | €475,945 | -€69,982 | -12.8% |
| Non-recurring operating income | 76A | €6,351 | - | -€6,351 | |
| Goods, raw materials, services and sundry goods | 60/61 | €444,893 | €512,051 | +€67,157 | +15.1% |
| Remuneration, social security and pensions | 62 | €7,330 | €8,891 | +€1,561 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,272 | €34,392 | -€5,880 | -14.6% |
| Other operating charges | 640/8 | €29,653 | €4,759 | -€24,894 | -84.0% |
| Non-recurring operating charges | 66A | €714 | - | -€714 | |
| Gross operating margin | 9900 | €107,384 | -€35,665 | -€143,049 | |
| Operating profit (loss) | 9901 | €29,415 | -€83,707 | -€113,122 | |
| Financial income | 75/76B | - | €1,066 | +€1,066 | |
| Recurring financial income | 75 | - | €1,066 | +€1,066 | |
| Financial charges | 65/66B | €17,670 | €15,731 | -€1,938 | -11.0% |
| Recurring financial charges | 65 | €10,786 | €15,731 | +€4,945 | +45.8% |
| Non-recurring financial charges | 66B | €6,884 | - | -€6,884 | |
| Profit (loss) for the period before taxes | 9903 | €11,746 | -€98,372 | -€110,118 | |
| Income taxes | 67/77 | €2,315 | - | -€2,315 | |
| Profit (loss) for the period | 9904 | €9,430 | -€98,372 | -€107,802 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,430 | -€98,372 | -€107,802 |
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 10 October 2026 via checked.be.