IMMO LES FORGES: 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.
IMMO LES FORGES
Largest movements
- Tangible fixed assets -€23,959
down €23,959 (-7.6%), from €314,479 to €290,520
- Cash +€4,852
up €4,852 (+69.0%), from €7,037 to €11,889
mainly Debts after one year (+€44,598) and Depreciation (+€26,793)
- Other debts -€53,846
no longer reported in 2025 (was €53,846)
- Debts after one year +€44,598
up €44,598 (+15.3%), from €291,209 to €335,807
of which Other amounts payable: +€63,197
- Profit (loss) carried forward -€12,692
down €12,692 (-7.4%), from -€171,932 to -€184,624
- Gross operating margin +€2,781
up €2,781 (+12.8%), from €21,793 to €24,574
- Turnover +€2,400
up €2,400 (+10.0%), from €24,000 to €26,400
- Financial charges -€733
down €733 (-6.9%), from €10,629 to €9,896
- Purchases and services -€381
down €381 (-17.3%), from €2,207 to €1,826
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 | €358,323 | €336,383 | -€21,941 | -6.1% |
| Formation expenses | 20 | €36,807 | €33,974 | -€2,833 | -7.7% |
| Fixed assets | 21/28 | €314,479 | €290,520 | -€23,959 | -7.6% |
| Tangible fixed assets | 22/27 | €314,479 | €290,520 | -€23,959 | -7.6% |
| Land and buildings | 22 | €314,479 | €290,520 | -€23,959 | -7.6% |
| Current assets | 29/58 | €7,037 | €11,889 | +€4,852 | +69.0% |
| Cash at bank and in hand | 54/58 | €7,037 | €11,889 | +€4,852 | +69.0% |
| Total equity and liabilities | 10/49 | €358,323 | €336,383 | -€21,941 | -6.1% |
| Equity | 10/15 | €13,268 | €576 | -€12,692 | -95.7% |
| Contributions | 10/11 | €185,200 | €185,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€171,932 | -€184,624 | -€12,692 | -7.4% |
| Amounts payable | 17/49 | €345,055 | €335,807 | -€9,248 | -2.7% |
| Amounts payable after more than one year | 17 | €291,209 | €335,807 | +€44,598 | +15.3% |
| Financial debts | 170/4 | €291,209 | €272,611 | -€18,599 | -6.4% |
| Other amounts payable | 178/9 | - | €63,197 | +€63,197 | |
| Amounts payable within one year | 42/48 | €53,846 | - | -€53,846 | |
| Other amounts payable | 47/48 | €53,846 | - | -€53,846 | |
| Turnover | 70 | €24,000 | €26,400 | +€2,400 | +10.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,207 | €1,826 | -€381 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,793 | €26,793 | = | 0.0% |
| Other operating charges | 640/8 | €560 | €578 | +€18 | +3.2% |
| Gross operating margin | 9900 | €21,793 | €24,574 | +€2,781 | +12.8% |
| Operating profit (loss) | 9901 | -€5,560 | -€2,797 | +€2,763 | +49.7% |
| Financial charges | 65/66B | €10,629 | €9,896 | -€733 | -6.9% |
| Recurring financial charges | 65 | €10,629 | €9,896 | -€733 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,189 | -€12,692 | +€3,496 | +21.6% |
| Profit (loss) for the period | 9904 | -€16,189 | -€12,692 | +€3,496 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,189 | -€12,692 | +€3,496 | +21.6% |
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 17 October 2026 via checked.be.