Forward Bio: 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.
Forward Bio
Largest movements
- Cash +€57,490
up €57,490 (+29.0%), from €198,105 to €255,596
mainly Net result for the year (+€87,005) and Depreciation (+€2,724)
- Reserves +€85,339
up €85,339 (+59.7%), from €143,062 to €228,401
- Tax, wage and social debts -€29,504
down €29,504 (-40.1%), from €73,647 to €44,143
- Gross operating margin -€87,622
down €87,622 (-41.2%), from €212,757 to €125,134
- Taxes -€27,510
down €27,510 (-44.3%), from €62,166 to €34,656
- Depreciation -€2,641
down €2,641 (-49.2%), from €5,364 to €2,724
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 | €229,001 | €287,166 | +€58,165 | +25.4% |
| Fixed assets | 21/28 | €5,257 | €4,756 | -€501 | -9.5% |
| Tangible fixed assets | 22/27 | €4,857 | €4,356 | -€501 | -10.3% |
| Furniture and vehicles | 24 | €4,857 | €4,356 | -€501 | -10.3% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €223,744 | €282,410 | +€58,666 | +26.2% |
| Amounts receivable within one year | 40/41 | €24,565 | €25,883 | +€1,318 | +5.4% |
| Trade receivables | 40 | €24,565 | €25,883 | +€1,318 | +5.4% |
| Cash at bank and in hand | 54/58 | €198,105 | €255,596 | +€57,490 | +29.0% |
| Deferred charges and accrued income | 490/1 | €1,074 | €932 | -€142 | -13.3% |
| Total equity and liabilities | 10/49 | €229,001 | €287,166 | +€58,165 | +25.4% |
| Equity | 10/15 | €146,062 | €231,401 | +€85,339 | +58.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €143,062 | €228,401 | +€85,339 | +59.7% |
| Distributable reserves | 133 | €143,062 | €228,401 | +€85,339 | +59.7% |
| Amounts payable | 17/49 | €82,939 | €55,765 | -€27,173 | -32.8% |
| Amounts payable within one year | 42/48 | €79,625 | €53,900 | -€25,725 | -32.3% |
| Trade debts | 44 | €2,003 | €4,281 | +€2,278 | +113.7% |
| Suppliers | 440/4 | €2,003 | €4,281 | +€2,278 | +113.7% |
| Taxes, remuneration and social security | 45 | €73,647 | €44,143 | -€29,504 | -40.1% |
| Taxes | 450/3 | €73,647 | €44,143 | -€29,504 | -40.1% |
| Other amounts payable | 47/48 | €3,974 | €5,475 | +€1,501 | +37.8% |
| Accrued charges and deferred income | 492/3 | €3,314 | €1,866 | -€1,448 | -43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,364 | €2,724 | -€2,641 | -49.2% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Gross operating margin | 9900 | €212,757 | €125,134 | -€87,622 | -41.2% |
| Operating profit (loss) | 9901 | €207,392 | €122,266 | -€85,126 | -41.0% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.4% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.4% |
| Financial charges | 65/66B | €503 | €606 | +€103 | +20.4% |
| Recurring financial charges | 65 | €503 | €606 | +€103 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €206,894 | €121,661 | -€85,233 | -41.2% |
| Income taxes | 67/77 | €62,166 | €34,656 | -€27,510 | -44.3% |
| Profit (loss) for the period | 9904 | €144,728 | €87,005 | -€57,723 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €144,728 | €87,005 | -€57,723 | -39.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.