FORUM 74: 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.
FORUM 74
Largest movements
- Tangible fixed assets -€25,616
down €25,616 (-4.9%), from €526,756 to €501,140
- Debts after one year -€50,964
down €50,964 (-8.3%), from €613,402 to €562,438
of which Financial debts: -€53,964
- Reserves +€28,336
up €28,336 (+58.8%), from €48,161 to €76,497
- Gross operating margin +€18,798
up €18,798 (+20.3%), from €92,584 to €111,381
- Taxes +€9,139
up €9,139 (+635%), from €1,440 to €10,579
- Financial charges -€2,041
down €2,041 (-7.3%), from €27,790 to €25,749
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 | €735,427 | €721,412 | -€14,015 | -1.9% |
| Fixed assets | 21/28 | €526,756 | €501,140 | -€25,616 | -4.9% |
| Tangible fixed assets | 22/27 | €526,756 | €501,140 | -€25,616 | -4.9% |
| Land and buildings | 22 | €526,756 | €501,140 | -€25,616 | -4.9% |
| Current assets | 29/58 | €208,672 | €220,272 | +€11,600 | +5.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €105,000 | +€5,000 | +5.0% |
| Other amounts receivable | 291 | €100,000 | €105,000 | +€5,000 | +5.0% |
| Amounts receivable within one year | 40/41 | €1,357 | €1,657 | +€300 | +22.1% |
| Other amounts receivable | 41 | €1,357 | €1,657 | +€300 | +22.1% |
| Cash at bank and in hand | 54/58 | €105,058 | €111,242 | +€6,184 | +5.9% |
| Deferred charges and accrued income | 490/1 | €2,257 | €2,373 | +€116 | +5.1% |
| Total equity and liabilities | 10/49 | €735,427 | €721,412 | -€14,015 | -1.9% |
| Equity | 10/15 | €68,161 | €96,497 | +€28,336 | +41.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €48,161 | €76,497 | +€28,336 | +58.8% |
| Distributable reserves | 133 | €48,161 | €76,497 | +€28,336 | +58.8% |
| Amounts payable | 17/49 | €667,267 | €624,915 | -€42,351 | -6.3% |
| Amounts payable after more than one year | 17 | €613,402 | €562,438 | -€50,964 | -8.3% |
| Financial debts | 170/4 | €604,112 | €550,148 | -€53,964 | -8.9% |
| Other amounts payable | 178/9 | €9,290 | €12,290 | +€3,000 | +32.3% |
| Amounts payable within one year | 42/48 | €53,864 | €62,477 | +€8,613 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €51,853 | €53,957 | +€2,104 | +4.1% |
| Trade debts | 44 | €572 | €2,625 | +€2,053 | +359% |
| Suppliers | 440/4 | €572 | €2,625 | +€2,053 | +359% |
| Taxes, remuneration and social security | 45 | €1,440 | €5,889 | +€4,449 | +309% |
| Taxes | 450/3 | €1,440 | €5,889 | +€4,449 | +309% |
| Other amounts payable | 47/48 | - | €6 | +€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,878 | €38,247 | +€369 | +1.0% |
| Other operating charges | 640/8 | €9,372 | €9,415 | +€43 | +0.5% |
| Gross operating margin | 9900 | €92,584 | €111,381 | +€18,798 | +20.3% |
| Operating profit (loss) | 9901 | €45,334 | €63,720 | +€18,386 | +40.6% |
| Financial income | 75/76B | €1,098 | €944 | -€154 | -14.0% |
| Recurring financial income | 75 | €1,098 | €944 | -€154 | -14.0% |
| Financial charges | 65/66B | €27,790 | €25,749 | -€2,041 | -7.3% |
| Recurring financial charges | 65 | €27,790 | €25,749 | -€2,041 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €18,642 | €38,915 | +€20,273 | +109% |
| Income taxes | 67/77 | €1,440 | €10,579 | +€9,139 | +635% |
| Profit (loss) for the period | 9904 | €17,202 | €28,336 | +€11,134 | +64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,202 | €28,336 | +€11,134 | +64.7% |
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 24 October 2026 via checked.be.