GOREST: 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.
GOREST
Largest movements
- Cash -€128,722
down €128,722 (-23.4%), from €550,395 to €421,673
mainly Trade debts (-€166,225) and Contributions, distributions and other (-€116,000)
- Receivables within one year +€34,936
up €34,936 (+50.4%), from €69,286 to €104,223
of which Other amounts receivable: +€22,730
- Tangible fixed assets +€21,848
up €21,848 (+255.8%), from €8,540 to €30,388
of which Furniture and vehicles: +€20,141
- Stocks and contracts -€19,675
down €19,675 (-37.1%), from €53,097 to €33,421
- Trade debts -€166,225
down €166,225 (-48.5%), from €342,423 to €176,198
- Other debts +€116,000
new in 2025: €116,000
- Tax, wage and social debts -€22,232
down €22,232 (-18.6%), from €119,530 to €97,298
of which Remuneration and social security: -€23,106
- Reserves -€21,719
down €21,719 (-8.8%), from €247,766 to €226,047
of which Distributable reserves: -€21,719
- Gross operating margin +€649,203
up €649,203 (+68.8%), from €943,742 to €1.6m
- Staff costs +€614,153
up €614,153 (+73.3%), from €837,938 to €1.5m
- Taxes +€23,387
up €23,387 (+116.3%), from €20,117 to €43,504
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 | €744,708 | €650,672 | -€94,036 | -12.6% |
| Fixed assets | 21/28 | €58,839 | €80,687 | +€21,848 | +37.1% |
| Tangible fixed assets | 22/27 | €8,540 | €30,388 | +€21,848 | +255.8% |
| Plant, machinery and equipment | 23 | €5,919 | €7,626 | +€1,706 | +28.8% |
| Furniture and vehicles | 24 | €2,621 | €22,762 | +€20,141 | +768.5% |
| Financial fixed assets | 28 | €50,299 | €50,299 | = | 0.0% |
| Current assets | 29/58 | €685,869 | €569,986 | -€115,884 | -16.9% |
| Stocks and contracts in progress | 3 | €53,097 | €33,421 | -€19,675 | -37.1% |
| Stocks | 30/36 | €53,097 | €33,421 | -€19,675 | -37.1% |
| Amounts receivable within one year | 40/41 | €69,286 | €104,223 | +€34,936 | +50.4% |
| Trade receivables | 40 | €21,880 | €34,087 | +€12,207 | +55.8% |
| Other amounts receivable | 41 | €47,406 | €70,135 | +€22,730 | +47.9% |
| Cash at bank and in hand | 54/58 | €550,395 | €421,673 | -€128,722 | -23.4% |
| Deferred charges and accrued income | 490/1 | €13,092 | €10,669 | -€2,423 | -18.5% |
| Total equity and liabilities | 10/49 | €744,708 | €650,672 | -€94,036 | -12.6% |
| Equity | 10/15 | €272,766 | €251,047 | -€21,719 | -8.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €247,766 | €226,047 | -€21,719 | -8.8% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €245,266 | €223,547 | -€21,719 | -8.9% |
| Amounts payable | 17/49 | €471,942 | €399,625 | -€72,317 | -15.3% |
| Amounts payable within one year | 42/48 | €471,942 | €399,625 | -€72,317 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €9,989 | €10,129 | +€140 | +1.4% |
| Trade debts | 44 | €342,423 | €176,198 | -€166,225 | -48.5% |
| Suppliers | 440/4 | €342,423 | €176,198 | -€166,225 | -48.5% |
| Taxes, remuneration and social security | 45 | €119,530 | €97,298 | -€22,232 | -18.6% |
| Taxes | 450/3 | €19,879 | €20,753 | +€874 | +4.4% |
| Remuneration and social security | 454/9 | €99,651 | €76,546 | -€23,106 | -23.2% |
| Other amounts payable | 47/48 | - | €116,000 | +€116,000 | |
| Remuneration, social security and pensions | 62 | €837,938 | €1,452,092 | +€614,153 | +73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,815 | €8,831 | +€4,016 | +83.4% |
| Other operating charges | 640/8 | €7,384 | €9,962 | +€2,578 | +34.9% |
| Gross operating margin | 9900 | €943,742 | €1,592,945 | +€649,203 | +68.8% |
| Operating profit (loss) | 9901 | €93,604 | €122,060 | +€28,456 | +30.4% |
| Financial income | 75/76B | €16,759 | €25,871 | +€9,112 | +54.4% |
| Recurring financial income | 75 | €16,759 | €25,871 | +€9,112 | +54.4% |
| Financial charges | 65/66B | €18,112 | €10,146 | -€7,966 | -44.0% |
| Recurring financial charges | 65 | €18,112 | €10,146 | -€7,966 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €92,251 | €137,785 | +€45,533 | +49.4% |
| Income taxes | 67/77 | €20,117 | €43,504 | +€23,387 | +116.3% |
| Profit (loss) for the period | 9904 | €72,134 | €94,281 | +€22,147 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,134 | €94,281 | +€22,147 | +30.7% |
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 11 October 2026 via checked.be.