Go Forest: what changed
Two financial 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.
Go Forest
Largest movements
- Receivables within one year -€70,220
down €70,220 (-33.3%), from €210,638 to €140,418
of which Trade receivables: -€70,190
- Intangible fixed assets -€26,886
down €26,886 (-32.0%), from €83,982 to €57,096
- Tangible fixed assets -€4,249
down €4,249 (-26.1%), from €16,299 to €12,050
- Profit (loss) carried forward -€35,441
down €35,441 (-12.6%), from -€281,853 to -€317,294
- Trade debts -€24,062
down €24,062 (-27.4%), from €87,815 to €63,753
- Tax, wage and social debts -€21,971
down €21,971 (-33.1%), from €66,439 to €44,468
of which Taxes: -€25,529
- Debts after one year -€11,184
down €11,184 (-3.1%), from €357,934 to €346,750
- Current portion of long-term debt -€5,907
down €5,907 (-59.7%), from €9,902 to €3,995
- Staff costs -€65,164
down €65,164 (-46.2%), from €141,033 to €75,869
- Gross operating margin -€8,948
down €8,948 (-8.3%), from €107,280 to €98,332
- Depreciation +€8,794
up €8,794 (+25.4%), from €34,651 to €43,445
- Financial charges -€4,827
down €4,827 (-37.2%), from €12,968 to €8,141
- Other operating charges +€3,517
up €3,517 (+150%), from €2,342 to €5,859
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.
Derived cash bridge
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 | €345,243 | €242,151 | -€103,092 | -29.9% |
| Fixed assets | 21/28 | €104,204 | €73,069 | -€31,135 | -29.9% |
| Intangible fixed assets | 21 | €83,982 | €57,096 | -€26,886 | -32.0% |
| Tangible fixed assets | 22/27 | €16,299 | €12,050 | -€4,249 | -26.1% |
| Plant, machinery and equipment | 23 | €6,430 | €4,491 | -€1,939 | -30.2% |
| Furniture and vehicles | 24 | €2,253 | €1,568 | -€685 | -30.4% |
| Other tangible fixed assets | 26 | €7,616 | €5,991 | -€1,625 | -21.3% |
| Financial fixed assets | 28 | €3,923 | €3,923 | = | 0.0% |
| Current assets | 29/58 | €241,039 | €169,082 | -€71,957 | -29.9% |
| Amounts receivable within one year | 40/41 | €210,638 | €140,418 | -€70,220 | -33.3% |
| Trade receivables | 40 | €206,320 | €136,130 | -€70,190 | -34.0% |
| Other amounts receivable | 41 | €4,318 | €4,288 | -€30 | -0.7% |
| Cash at bank and in hand | 54/58 | €27,532 | €25,484 | -€2,048 | -7.4% |
| Deferred charges and accrued income | 490/1 | €2,869 | €3,180 | +€311 | +10.8% |
| Total equity and liabilities | 10/49 | €345,243 | €242,151 | -€103,092 | -29.9% |
| Equity | 10/15 | -€228,853 | -€264,294 | -€35,441 | -15.5% |
| Contributions | 10/11 | €53,000 | €53,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€281,853 | -€317,294 | -€35,441 | -12.6% |
| Amounts payable | 17/49 | €574,096 | €506,445 | -€67,651 | -11.8% |
| Amounts payable after more than one year | 17 | €357,934 | €346,750 | -€11,184 | -3.1% |
| Financial debts | 170/4 | €357,934 | €346,750 | -€11,184 | -3.1% |
| Amounts payable within one year | 42/48 | €216,162 | €159,695 | -€56,467 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €9,902 | €3,995 | -€5,907 | -59.7% |
| Financial debts | 43 | €51,244 | €46,708 | -€4,536 | -8.9% |
| Credit institutions | 430/8 | €51,244 | €46,708 | -€4,536 | -8.9% |
| Trade debts | 44 | €87,815 | €63,753 | -€24,062 | -27.4% |
| Suppliers | 440/4 | €87,815 | €63,753 | -€24,062 | -27.4% |
| Taxes, remuneration and social security | 45 | €66,439 | €44,468 | -€21,971 | -33.1% |
| Taxes | 450/3 | €48,229 | €22,700 | -€25,529 | -52.9% |
| Remuneration and social security | 454/9 | €18,210 | €21,768 | +€3,558 | +19.5% |
| Other amounts payable | 47/48 | €762 | €771 | +€9 | +1.2% |
| Remuneration, social security and pensions | 62 | €141,033 | €75,869 | -€65,164 | -46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,651 | €43,445 | +€8,794 | +25.4% |
| Other operating charges | 640/8 | €2,342 | €5,859 | +€3,517 | +150% |
| Non-recurring operating charges | 66A | €49 | - | -€49 | |
| Gross operating margin | 9900 | €107,280 | €98,332 | -€8,948 | -8.3% |
| Operating profit (loss) | 9901 | -€70,795 | -€26,841 | +€43,954 | +62.1% |
| Financial income | 75/76B | €533 | €22 | -€511 | -95.9% |
| Recurring financial income | 75 | €533 | €22 | -€511 | -95.9% |
| Financial charges | 65/66B | €12,968 | €8,141 | -€4,827 | -37.2% |
| Recurring financial charges | 65 | €12,968 | €8,141 | -€4,827 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | -€83,230 | -€34,960 | +€48,270 | +58.0% |
| Income taxes | 67/77 | - | €480 | +€480 | |
| Profit (loss) for the period | 9904 | -€83,230 | -€35,440 | +€47,790 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,230 | -€35,440 | +€47,790 | +57.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.