FORUM EUPEN: 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.
What changed
FORUM EUPEN
NACE 52.100, Warehousing and storage
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€230,642
2024 · €178,273+€52,369
Equity
€3.6m
2024 · €3.8m-€174,358
Cash
€197,493
2024 · €174,030+€23,462
Balance sheet total
€8.7m
2024 · €9.1m-€425,566
Largest movements
Assets
- Financial fixed assets -€312,500
down €312,500 (-12.6%), from €2.5m to €2.2m
Equity and liabilities
- Debts after one year -€333,191
down €333,191 (-15.2%), from €2.2m to €1.9m
- Other debts +€226,586
up €226,586 (+1194.5%), from €18,969 to €245,555
- Profit (loss) carried forward -€174,358
down €174,358 (-12.5%), from €1.4m to €1.2m
Income statement
- Staff costs -€145,720
down €145,720 (-52.3%), from €278,666 to €132,946
- Gross operating margin -€117,853
down €117,853 (-14.2%), from €831,103 to €713,250
- Financial charges -€45,966
down €45,966 (-18.2%), from €252,270 to €206,304
- Taxes +€17,355
up €17,355 (+30.8%), from €56,343 to €73,697
- Other operating charges +€14,990
up €14,990 (+12.1%), from €123,699 to €138,689
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.
Result 2024
€178,273
Gross operating margin
-€117,853
Staff costs
+€145,720
Depreciation
+€2,031
Other operating charges
-€14,990
Financial income
+€8,849
Financial charges
+€45,966
Taxes
-€17,355
Result 2025
€230,642
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.
From operations
+€519,904
Investment
+€241,305
Financing
-€737,747
Cash 2024
€174,030
From operations (derived)
+€519,904
Net result for the year
+€230,642
Depreciation
+€129,952
Receivables within one year
+€65,338
Deferred charges and accrued income
+€12,433
Trade debts
-€86,892
Tax, wage and social debts
-€50,902
Other debts
+€226,586
Accrued charges and deferred income
-€7,252
Investment (derived)
+€241,305
Investment in fixed assets (net)
+€241,305
Financing
-€737,747
Debts after one year
-€333,191
Current portion of long-term debt
+€444
Contributions, distributions and other
-€405,000
Cash 2025
€197,493
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,095,270 | €8,669,704 | -€425,566 | -4.7% |
| Fixed assets | 21/28 | €5,290,061 | €4,918,804 | -€371,257 | -7.0% |
| Tangible fixed assets | 22/27 | €2,815,912 | €2,757,156 | -€58,757 | -2.1% |
| Land and buildings | 22 | €2,753,687 | €2,706,398 | -€47,289 | -1.7% |
| Plant, machinery and equipment | 23 | €8,363 | €8,635 | +€272 | +3.2% |
| Furniture and vehicles | 24 | €53,862 | €42,122 | -€11,739 | -21.8% |
| Financial fixed assets | 28 | €2,474,148 | €2,161,648 | -€312,500 | -12.6% |
| Current assets | 29/58 | €3,805,209 | €3,750,900 | -€54,309 | -1.4% |
| Amounts receivable within one year | 40/41 | €3,602,697 | €3,537,358 | -€65,338 | -1.8% |
| Trade receivables | 40 | €946,551 | €799,740 | -€146,811 | -15.5% |
| Other amounts receivable | 41 | €2,656,146 | €2,737,618 | +€81,472 | +3.1% |
| Cash at bank and in hand | 54/58 | €174,030 | €197,493 | +€23,462 | +13.5% |
| Deferred charges and accrued income | 490/1 | €28,482 | €16,049 | -€12,433 | -43.7% |
| Total equity and liabilities | 10/49 | €9,095,270 | €8,669,704 | -€425,566 | -4.7% |
| Equity | 10/15 | €3,813,109 | €3,638,751 | -€174,358 | -4.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,828,613 | €1,828,613 | = | 0.0% |
| Reserves | 13 | €92,419 | €92,419 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €42,419 | €42,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,392,077 | €1,217,719 | -€174,358 | -12.5% |
| Amounts payable | 17/49 | €5,282,160 | €5,030,952 | -€251,208 | -4.8% |
| Amounts payable after more than one year | 17 | €2,190,903 | €1,857,713 | -€333,191 | -15.2% |
| Financial debts | 170/4 | €2,190,903 | €1,857,713 | -€333,191 | -15.2% |
| Amounts payable within one year | 42/48 | €3,077,021 | €3,166,256 | +€89,235 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €332,747 | €333,191 | +€444 | +0.1% |
| Financial debts | 43 | €2,500,000 | €2,500,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,500,000 | €2,500,000 | = | 0.0% |
| Trade debts | 44 | €132,188 | €45,295 | -€86,892 | -65.7% |
| Suppliers | 440/4 | €132,188 | €45,295 | -€86,892 | -65.7% |
| Taxes, remuneration and social security | 45 | €93,117 | €42,215 | -€50,902 | -54.7% |
| Taxes | 450/3 | €35,718 | €31,368 | -€4,350 | -12.2% |
| Remuneration and social security | 454/9 | €57,400 | €10,847 | -€46,553 | -81.1% |
| Other amounts payable | 47/48 | €18,969 | €245,555 | +€226,586 | +1194.5% |
| Accrued charges and deferred income | 492/3 | €14,237 | €6,984 | -€7,252 | -50.9% |
| Remuneration, social security and pensions | 62 | €278,666 | €132,946 | -€145,720 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,983 | €129,952 | -€2,031 | -1.5% |
| Other operating charges | 640/8 | €123,699 | €138,689 | +€14,990 | +12.1% |
| Gross operating margin | 9900 | €831,103 | €713,250 | -€117,853 | -14.2% |
| Operating profit (loss) | 9901 | €296,755 | €311,663 | +€14,908 | +5.0% |
| Financial income | 75/76B | €190,131 | €198,980 | +€8,849 | +4.7% |
| Recurring financial income | 75 | €190,131 | €198,980 | +€8,849 | +4.7% |
| Financial charges | 65/66B | €252,270 | €206,304 | -€45,966 | -18.2% |
| Recurring financial charges | 65 | €252,270 | €206,304 | -€45,966 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €234,616 | €304,339 | +€69,723 | +29.7% |
| Income taxes | 67/77 | €56,343 | €73,697 | +€17,355 | +30.8% |
| Profit (loss) for the period | 9904 | €178,273 | €230,642 | +€52,369 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €178,273 | €230,642 | +€52,369 | +29.4% |
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 6 October 2026 via checked.be.