Forza Sailing: 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.
Forza Sailing
Largest movements
- Receivables within one year +€26,618
up €26,618 (+67.6%), from €39,349 to €65,967
of which Other amounts receivable: +€20,444
- Tangible fixed assets -€7,786
down €7,786 (-3.0%), from €259,052 to €251,266
of which Furniture and vehicles: -€5,801
- Debts after one year +€28,580
up €28,580 (+8.7%), from €329,103 to €357,684
- Profit (loss) carried forward -€10,608
down €10,608 (-15.6%), from -€67,883 to -€78,490
- Current portion of long-term debt -€7,586
down €7,586 (-59.2%), from €12,806 to €5,220
- Advances received +€6,311
new in 2025: €6,311
- Tax, wage and social debts +€3,558
up €3,558 (+103.1%), from €3,451 to €7,009
- Gross operating margin +€12,937
up €12,937 (+133.2%), from €9,713 to €22,650
- Depreciation +€7,553
up €7,553 (+29.1%), from €25,983 to €33,536
- Financial income +€1,425
up €1,425 (+415.5%), from €343 to €1,768
- Financial charges -€483
down €483 (-35.5%), from €1,362 to €879
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 | €300,960 | €320,830 | +€19,870 | +6.6% |
| Fixed assets | 21/28 | €259,052 | €251,266 | -€7,786 | -3.0% |
| Tangible fixed assets | 22/27 | €259,052 | €251,266 | -€7,786 | -3.0% |
| Plant, machinery and equipment | 23 | €3,506 | €1,521 | -€1,985 | -56.6% |
| Furniture and vehicles | 24 | €255,546 | €249,745 | -€5,801 | -2.3% |
| Current assets | 29/58 | €41,908 | €69,564 | +€27,656 | +66.0% |
| Amounts receivable within one year | 40/41 | €39,349 | €65,967 | +€26,618 | +67.6% |
| Trade receivables | 40 | €290 | €6,464 | +€6,174 | +2129.0% |
| Other amounts receivable | 41 | €39,059 | €59,503 | +€20,444 | +52.3% |
| Cash at bank and in hand | 54/58 | €1,112 | €2,135 | +€1,023 | +92.0% |
| Deferred charges and accrued income | 490/1 | €1,447 | €1,462 | +€15 | +1.0% |
| Total equity and liabilities | 10/49 | €300,960 | €320,830 | +€19,870 | +6.6% |
| Equity | 10/15 | -€47,883 | -€58,490 | -€10,608 | -22.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,883 | -€78,490 | -€10,608 | -15.6% |
| Amounts payable | 17/49 | €348,842 | €379,320 | +€30,478 | +8.7% |
| Amounts payable after more than one year | 17 | €329,103 | €357,684 | +€28,580 | +8.7% |
| Financial debts | 170/4 | €329,103 | €357,684 | +€28,580 | +8.7% |
| Amounts payable within one year | 42/48 | €19,739 | €21,636 | +€1,898 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €12,806 | €5,220 | -€7,586 | -59.2% |
| Trade debts | 44 | €3,482 | €3,097 | -€386 | -11.1% |
| Suppliers | 440/4 | €3,482 | €3,097 | -€386 | -11.1% |
| Advances received on contracts in progress | 46 | - | €6,311 | +€6,311 | |
| Taxes, remuneration and social security | 45 | €3,451 | €7,009 | +€3,558 | +103.1% |
| Taxes | 450/3 | €3,451 | €7,009 | +€3,558 | +103.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,983 | €33,536 | +€7,553 | +29.1% |
| Other operating charges | 640/8 | €599 | €609 | +€10 | +1.7% |
| Gross operating margin | 9900 | €9,713 | €22,650 | +€12,937 | +133.2% |
| Operating profit (loss) | 9901 | -€16,870 | -€11,496 | +€5,374 | +31.9% |
| Financial income | 75/76B | €343 | €1,768 | +€1,425 | +415.5% |
| Recurring financial income | 75 | €343 | €1,768 | +€1,425 | +415.5% |
| Financial charges | 65/66B | €1,362 | €879 | -€483 | -35.5% |
| Recurring financial charges | 65 | €1,362 | €879 | -€483 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,889 | -€10,608 | +€7,282 | +40.7% |
| Profit (loss) for the period | 9904 | -€17,889 | -€10,608 | +€7,282 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,889 | -€10,608 | +€7,282 | +40.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.