GARAGE FORREST: what changed
GARAGE FORREST
Largest movements
- Receivables within one year -€28,061
down €28,061 (-34.8%), from €80,534 to €52,473
of which Trade receivables: -€37,392
- Tangible fixed assets -€19,232
down €19,232 (-6.5%), from €295,398 to €276,166
of which Land and buildings: -€12,032
- Stocks and contracts -€16,565
down €16,565 (-6.3%), from €263,807 to €247,241
- Cash -€11,273
down €11,273 (-25.6%), from €44,005 to €32,731
mainly Net result for the year (-€33,084) and Tax, wage and social debts (-€19,534)
- Tax, wage and social debts -€19,534
no longer reported in 2025 (was €19,534)
of which Taxes: -€13,090
- Profit (loss) carried forward -€19,330
new in 2025: -€19,330
- Reserves -€13,755
down €13,755 (-12.1%), from €113,216 to €99,461
- Current portion of long-term debt -€12,592
down €12,592 (-64.2%), from €19,629 to €7,037
- Other debts +€11,890
up €11,890 (+131%), from €9,057 to €20,947
- Gross operating margin -€37,721
down €37,721 (-69.0%), from €54,652 to €16,932
- Financial charges -€15,122
down €15,122 (-63.5%), from €23,806 to €8,684
- Depreciation -€4,961
down €4,961 (-14.0%), from €35,488 to €30,527
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €685,449 | €610,489 | -€74,960 | -10.9% |
| Fixed assets | 21/28 | €295,398 | €276,166 | -€19,232 | -6.5% |
| Tangible fixed assets | 22/27 | €295,398 | €276,166 | -€19,232 | -6.5% |
| Land and buildings | 22 | €237,736 | €225,705 | -€12,032 | -5.1% |
| Plant, machinery and equipment | 23 | €17,149 | €12,800 | -€4,349 | -25.4% |
| Furniture and vehicles | 24 | €24,824 | €27,408 | +€2,585 | +10.4% |
| Other tangible fixed assets | 26 | €15,688 | €10,252 | -€5,436 | -34.6% |
| Current assets | 29/58 | €390,051 | €334,323 | -€55,728 | -14.3% |
| Stocks and contracts in progress | 3 | €263,807 | €247,241 | -€16,565 | -6.3% |
| Stocks | 30/36 | €263,807 | €247,241 | -€16,565 | -6.3% |
| Amounts receivable within one year | 40/41 | €80,534 | €52,473 | -€28,061 | -34.8% |
| Trade receivables | 40 | €79,598 | €42,205 | -€37,392 | -47.0% |
| Other amounts receivable | 41 | €937 | €10,268 | +€9,331 | +996% |
| Cash at bank and in hand | 54/58 | €44,005 | €32,731 | -€11,273 | -25.6% |
| Deferred charges and accrued income | 490/1 | €1,705 | €1,877 | +€172 | +10.1% |
| Total equity and liabilities | 10/49 | €685,449 | €610,489 | -€74,960 | -10.9% |
| Equity | 10/15 | €283,700 | €250,616 | -€33,084 | -11.7% |
| Contributions | 10/11 | €170,484 | €170,484 | = | 0.0% |
| Reserves | 13 | €113,216 | €99,461 | -€13,755 | -12.1% |
| Distributable reserves | 133 | €113,216 | €99,461 | -€13,755 | -12.1% |
| Profit (loss) carried forward | 14 | - | -€19,330 | -€19,330 | |
| Amounts payable | 17/49 | €401,748 | €359,873 | -€41,875 | -10.4% |
| Amounts payable after more than one year | 17 | €104,536 | €97,499 | -€7,037 | -6.7% |
| Financial debts | 170/4 | €15,562 | €8,526 | -€7,037 | -45.2% |
| Other amounts payable | 178/9 | €88,974 | €88,974 | = | 0.0% |
| Amounts payable within one year | 42/48 | €289,697 | €260,764 | -€28,933 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €19,629 | €7,037 | -€12,592 | -64.2% |
| Financial debts | 43 | €225,000 | €225,000 | = | 0.0% |
| Credit institutions | 430/8 | €225,000 | €225,000 | = | 0.0% |
| Trade debts | 44 | €16,477 | €7,780 | -€8,697 | -52.8% |
| Suppliers | 440/4 | €16,477 | €7,780 | -€8,697 | -52.8% |
| Taxes, remuneration and social security | 45 | €19,534 | - | -€19,534 | |
| Taxes | 450/3 | €13,090 | - | -€13,090 | |
| Remuneration and social security | 454/9 | €6,443 | - | -€6,443 | |
| Other amounts payable | 47/48 | €9,057 | €20,947 | +€11,890 | +131% |
| Accrued charges and deferred income | 492/3 | €7,516 | €1,610 | -€5,906 | -78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,488 | €30,527 | -€4,961 | -14.0% |
| Other operating charges | 640/8 | €10,650 | €10,837 | +€187 | +1.8% |
| Gross operating margin | 9900 | €54,652 | €16,932 | -€37,721 | -69.0% |
| Operating profit (loss) | 9901 | €8,515 | -€24,432 | -€32,947 | |
| Financial income | 75/76B | - | €31 | +€31 | |
| Recurring financial income | 75 | - | €31 | +€31 | |
| Financial charges | 65/66B | €23,806 | €8,684 | -€15,122 | -63.5% |
| Recurring financial charges | 65 | €23,806 | €8,684 | -€15,122 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,291 | -€33,084 | -€17,793 | -116% |
| Profit (loss) for the period | 9904 | -€15,291 | -€33,084 | -€17,793 | -116% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,291 | -€33,084 | -€17,793 | -116% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.