GLOBAL FORESTRY DEVELOPMENT: 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.
GLOBAL FORESTRY DEVELOPMENT
Largest movements
- Cash -€2.0m
down €2.0m (-94.5%), from €2.1m to €115,952
mainly Contributions, distributions and other (-€8.1m) and Smaller working-capital items (-€13,983)
- Profit (loss) carried forward -€2.0m
down €2.0m, from €2.0m to -€13,145
- Financial income +€793,033
up €793,033 (+14.9%), from €5.3m to €6.1m
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 | €37,964,759 | €35,977,023 | -€2.0m | -5.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €35,846,206 | €35,846,206 | = | 0.0% |
| Financial fixed assets | 28 | €35,846,206 | €35,846,206 | = | 0.0% |
| Affiliated companies | 280/1 | €35,846,206 | €35,846,206 | = | 0.0% |
| Participating interests | 280 | €35,846,206 | €35,846,206 | = | 0.0% |
| Current assets | 29/58 | €2,118,553 | €130,817 | -€2.0m | -93.8% |
| Amounts receivable within one year | 40/41 | €6,111 | €6,111 | = | 0.0% |
| Other amounts receivable | 41 | €6,111 | €6,111 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,112,442 | €115,952 | -€2.0m | -94.5% |
| Deferred charges and accrued income | 490/1 | - | €8,753 | +€8,753 | |
| Total equity and liabilities | 10/49 | €37,964,759 | €35,977,023 | -€2.0m | -5.2% |
| Equity | 10/15 | €37,957,431 | €35,974,924 | -€2.0m | -5.2% |
| Contributions | 10/11 | €35,908,181 | €35,908,181 | = | 0.0% |
| Capital | 10 | €264,784 | €264,784 | = | 0.0% |
| Issued capital | 100 | €264,784 | €264,784 | = | 0.0% |
| Outside capital | 11 | €35,643,397 | €35,643,397 | = | 0.0% |
| Share premium | 1100/10 | €35,643,397 | €35,643,397 | = | 0.0% |
| Reserves | 13 | €79,888 | €79,888 | = | 0.0% |
| Non-distributable reserves | 130/1 | €79,888 | €79,888 | = | 0.0% |
| Legal reserve | 130 | €79,888 | €79,888 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,969,362 | -€13,145 | -€2.0m | |
| Amounts payable | 17/49 | €7,328 | €2,098 | -€5,230 | -71.4% |
| Amounts payable within one year | 42/48 | €0 | €2,098 | +€2,098 | |
| Trade debts | 44 | €0 | €2,098 | +€2,098 | |
| Suppliers | 440/4 | €0 | €2,098 | +€2,098 | |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €7,328 | €0 | -€7,328 | -100.0% |
| Operating charges | 60/66A | €69,156 | €57,691 | -€11,465 | -16.6% |
| Services and other goods | 61 | €68,189 | €57,653 | -€10,536 | -15.5% |
| Other operating charges | 640/8 | €968 | €38 | -€929 | -96.1% |
| Operating profit (loss) | 9901 | -€69,156 | -€57,691 | +€11,465 | +16.6% |
| Financial income | 75/76B | €5,332,182 | €6,125,215 | +€793,033 | +14.9% |
| Recurring financial income | 75 | €5,332,182 | €6,125,215 | +€793,033 | +14.9% |
| Income from financial fixed assets | 750 | €5,332,182 | €6,125,215 | +€793,033 | +14.9% |
| Financial charges | 65/66B | €188 | €30 | -€158 | -84.1% |
| Recurring financial charges | 65 | €188 | €30 | -€158 | -84.1% |
| Other financial charges | 652/9 | €188 | €30 | -€158 | -84.1% |
| Profit (loss) for the period before taxes | 9903 | €5,262,837 | €6,067,493 | +€804,656 | +15.3% |
| Profit (loss) for the period | 9904 | €5,262,837 | €6,067,493 | +€804,656 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,262,837 | €6,067,493 | +€804,656 | +15.3% |
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.