FORTES: 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.
FORTES
Largest movements
- Cash -€24,460
down €24,460 (-66.4%), from €36,849 to €12,389
mainly Contributions, distributions and other (-€14,584) and Investment in fixed assets (net) (-€6,061)
- Receivables within one year +€5,179
up €5,179 (+97.3%), from €5,321 to €10,500
of which Trade receivables: +€5,622
- Tangible fixed assets +€4,489
up €4,489 (+295.7%), from €1,518 to €6,007
- Deferred charges and accrued income -€550
no longer reported in 2025 (was €550)
- Reserves -€14,584
down €14,584 (-27.9%), from €52,200 to €37,616
of which Distributable reserves: -€52,200
- Trade debts -€800
no longer reported in 2025 (was €800)
- Gross operating margin +€11,288
up €11,288, from -€9,059 to €2,229
- Depreciation +€858
up €858 (+120.2%), from €714 to €1,572
- Other operating charges -€655
down €655 (-50.9%), from €1,288 to €633
- Taxes +€108
up €108 (+70.6%), from €153 to €261
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 | €44,238 | €28,896 | -€15,342 | -34.7% |
| Fixed assets | 21/28 | €1,518 | €6,007 | +€4,489 | +295.7% |
| Tangible fixed assets | 22/27 | €1,518 | €6,007 | +€4,489 | +295.7% |
| Furniture and vehicles | 24 | €1,518 | €6,007 | +€4,489 | +295.7% |
| Current assets | 29/58 | €42,720 | €22,889 | -€19,831 | -46.4% |
| Amounts receivable within one year | 40/41 | €5,321 | €10,500 | +€5,179 | +97.3% |
| Trade receivables | 40 | €4,878 | €10,500 | +€5,622 | +115.3% |
| Other amounts receivable | 41 | €443 | - | -€443 | |
| Cash at bank and in hand | 54/58 | €36,849 | €12,389 | -€24,460 | -66.4% |
| Deferred charges and accrued income | 490/1 | €550 | - | -€550 | |
| Total equity and liabilities | 10/49 | €44,238 | €28,896 | -€15,342 | -34.7% |
| Equity | 10/15 | €42,601 | €27,763 | -€14,838 | -34.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €52,200 | €37,616 | -€14,584 | -27.9% |
| Non-distributable reserves | 130/1 | - | €37,616 | +€37,616 | |
| Other | 1319 | - | €37,616 | +€37,616 | |
| Distributable reserves | 133 | €52,200 | - | -€52,200 | |
| Profit (loss) carried forward | 14 | -€10,599 | -€10,853 | -€254 | -2.4% |
| Amounts payable | 17/49 | €1,637 | €1,133 | -€504 | -30.8% |
| Amounts payable within one year | 42/48 | €1,637 | €1,133 | -€504 | -30.8% |
| Trade debts | 44 | €800 | - | -€800 | |
| Suppliers | 440/4 | €800 | - | -€800 | |
| Taxes, remuneration and social security | 45 | €837 | €729 | -€108 | -12.9% |
| Taxes | 450/3 | €837 | €729 | -€108 | -12.9% |
| Other amounts payable | 47/48 | - | €404 | +€404 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714 | €1,572 | +€858 | +120.2% |
| Other operating charges | 640/8 | €1,288 | €633 | -€655 | -50.9% |
| Non-recurring operating charges | 66A | €2,416 | - | -€2,416 | |
| Gross operating margin | 9900 | -€9,059 | €2,229 | +€11,288 | |
| Operating profit (loss) | 9901 | -€13,477 | €24 | +€13,501 | |
| Financial charges | 65/66B | €2 | €17 | +€15 | +750.0% |
| Recurring financial charges | 65 | €2 | €17 | +€15 | +750.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,479 | €7 | +€13,486 | |
| Income taxes | 67/77 | €153 | €261 | +€108 | +70.6% |
| Profit (loss) for the period | 9904 | -€13,632 | -€254 | +€13,378 | +98.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,632 | -€254 | +€13,378 | +98.1% |
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 4 October 2026 via checked.be.