Forum Estates LUX: 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 Estates LUX
Largest movements
- Receivables within one year -€340,090
down €340,090 (-40.1%), from €848,363 to €508,273
of which Other amounts receivable: -€242,333
- Cash +€139,824
up €139,824 (+1,438%), from €9,721 to €149,545
mainly Receivables within one year (+€340,090) and Depreciation (+€307,888)
- Trade debts -€142,058
down €142,058 (-25.0%), from €567,807 to €425,749
- Tax, wage and social debts -€119,099
no longer reported in 2025 (was €119,099)
- Financial charges -€79,124
down €79,124 (-19.9%), from €398,572 to €319,448
- Gross operating margin +€49,342
up €49,342 (+8.6%), from €574,944 to €624,286
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 | €9,872,814 | €9,623,851 | -€248,963 | -2.5% |
| Fixed assets | 21/28 | €9,009,974 | €8,962,608 | -€47,367 | -0.5% |
| Tangible fixed assets | 22/27 | €9,009,974 | €8,962,608 | -€47,367 | -0.5% |
| Land and buildings | 22 | €8,252,239 | €7,944,351 | -€307,888 | -3.7% |
| Assets under construction and advance payments | 27 | €757,735 | €1,018,256 | +€260,521 | +34.4% |
| Current assets | 29/58 | €862,839 | €661,243 | -€201,596 | -23.4% |
| Amounts receivable within one year | 40/41 | €848,363 | €508,273 | -€340,090 | -40.1% |
| Trade receivables | 40 | €491,607 | €393,851 | -€97,757 | -19.9% |
| Other amounts receivable | 41 | €356,756 | €114,423 | -€242,333 | -67.9% |
| Cash at bank and in hand | 54/58 | €9,721 | €149,545 | +€139,824 | +1,438% |
| Deferred charges and accrued income | 490/1 | €4,755 | €3,425 | -€1,330 | -28.0% |
| Total equity and liabilities | 10/49 | €9,872,814 | €9,623,851 | -€248,963 | -2.5% |
| Equity | 10/15 | €1,684,503 | €1,678,378 | -€6,125 | -0.4% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€315,497 | -€321,622 | -€6,125 | -1.9% |
| Amounts payable | 17/49 | €8,188,311 | €7,945,473 | -€242,838 | -3.0% |
| Amounts payable after more than one year | 17 | €6,506,126 | €6,506,972 | +€846 | 0.0% |
| Financial debts | 170/4 | €6,500,000 | €6,500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €6,126 | €6,972 | +€846 | +13.8% |
| Amounts payable within one year | 42/48 | €1,619,502 | €1,379,413 | -€240,089 | -14.8% |
| Trade debts | 44 | €567,807 | €425,749 | -€142,058 | -25.0% |
| Suppliers | 440/4 | €567,807 | €425,749 | -€142,058 | -25.0% |
| Taxes, remuneration and social security | 45 | €119,099 | - | -€119,099 | |
| Taxes | 450/3 | €119,099 | - | -€119,099 | |
| Other amounts payable | 47/48 | €932,596 | €953,664 | +€21,068 | +2.3% |
| Accrued charges and deferred income | 492/3 | €62,682 | €59,088 | -€3,594 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €307,888 | €307,888 | -€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,932 | +€1,932 | |
| Other operating charges | 640/8 | €1,158 | €1,143 | -€15 | -1.3% |
| Gross operating margin | 9900 | €574,944 | €624,286 | +€49,342 | +8.6% |
| Operating profit (loss) | 9901 | €265,898 | €313,323 | +€47,425 | +17.8% |
| Financial income | 75/76B | €35 | €0 | -€35 | -99.8% |
| Recurring financial income | 75 | €35 | €0 | -€35 | -99.8% |
| Financial charges | 65/66B | €398,572 | €319,448 | -€79,124 | -19.9% |
| Recurring financial charges | 65 | €398,572 | €319,448 | -€79,124 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€132,640 | -€6,125 | +€126,515 | +95.4% |
| Profit (loss) for the period | 9904 | -€132,640 | -€6,125 | +€126,515 | +95.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€132,640 | -€6,125 | +€126,515 | +95.4% |
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 26 October 2026 via checked.be.