LE FORUM: 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.
LE FORUM
Largest movements
- Current investments +€447,116
up €447,116 (+52.4%), from €852,885 to €1.3m
- Receivables within one year -€92,919
down €92,919 (-36.7%), from €252,911 to €159,992
of which Trade receivables: -€93,143
- Cash -€42,929
down €42,929 (-7.8%), from €548,076 to €505,147
mainly Current investments (-€447,116) and Investment in fixed assets (net) (-€59,521)
- Tangible fixed assets +€34,759
up €34,759 (+46.3%), from €75,135 to €109,895
of which Furniture and vehicles: +€22,968
- Profit (loss) carried forward +€283,609
up €283,609 (+38.6%), from €734,309 to €1.0m
- Reserves +€63,150
up €63,150 (+16.0%), from €394,800 to €457,950
- Debts within one year +€49,575
up €49,575 (+8.8%), from €562,238 to €611,813
of which Tax, wage and social debts: +€49,351
- Provisions -€23,740
down €23,740 (-100%), from €23,740 to €0
- Turnover +€296,553
up €296,553 (+11.6%), from €2.6m to €2.9m
- Gross operating margin +€236,049
up €236,049 (+30.0%), from €786,049 to €1.0m
- Other operating charges +€146,974
up €146,974 (+154%), from €95,266 to €242,240
- Purchases and services +€59,101
up €59,101 (+2.8%), from €2.1m to €2.1m
- Staff costs +€47,144
up €47,144 (+13.0%), from €363,468 to €410,612
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 | €1,771,942 | €2,132,784 | +€360,842 | +20.4% |
| Fixed assets | 21/28 | €75,185 | €109,945 | +€34,759 | +46.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €75,135 | €109,895 | +€34,759 | +46.3% |
| Plant, machinery and equipment | 23 | €23,756 | €35,547 | +€11,791 | +49.6% |
| Furniture and vehicles | 24 | €51,380 | €74,348 | +€22,968 | +44.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,696,756 | €2,022,840 | +€326,083 | +19.2% |
| Stocks and contracts in progress | 3 | €6,897 | €6,225 | -€673 | -9.8% |
| Stocks | 30/36 | €6,897 | €6,225 | -€673 | -9.8% |
| Amounts receivable within one year | 40/41 | €252,911 | €159,992 | -€92,919 | -36.7% |
| Trade receivables | 40 | €244,223 | €151,079 | -€93,143 | -38.1% |
| Other amounts receivable | 41 | €8,689 | €8,913 | +€224 | +2.6% |
| Current investments | 50/53 | €852,885 | €1,300,000 | +€447,116 | +52.4% |
| Cash at bank and in hand | 54/58 | €548,076 | €505,147 | -€42,929 | -7.8% |
| Deferred charges and accrued income | 490/1 | €35,987 | €51,476 | +€15,489 | +43.0% |
| Total equity and liabilities | 10/49 | €1,771,942 | €2,132,784 | +€360,842 | +20.4% |
| Equity | 10/15 | €1,129,109 | €1,475,868 | +€346,759 | +30.7% |
| Reserves | 13 | €394,800 | €457,950 | +€63,150 | +16.0% |
| Profit (loss) carried forward | 14 | €734,309 | €1,017,919 | +€283,609 | +38.6% |
| Provisions and deferred taxes | 16 | €23,740 | €0 | -€23,740 | -100% |
| Provisions for liabilities and charges | 160/5 | €23,740 | €0 | -€23,740 | -100% |
| Major repairs and maintenance | 162 | €23,740 | - | -€23,740 | |
| Amounts payable | 17/49 | €619,093 | €656,916 | +€37,823 | +6.1% |
| Amounts payable within one year | 42/48 | €562,238 | €611,813 | +€49,575 | +8.8% |
| Financial debts | 43 | €1,960 | €896 | -€1,064 | -54.3% |
| Credit institutions | 430/8 | €1,960 | €896 | -€1,064 | -54.3% |
| Trade debts | 44 | €202,283 | €206,807 | +€4,524 | +2.2% |
| Suppliers | 440/4 | €202,283 | €206,807 | +€4,524 | +2.2% |
| Advances received on contracts in progress | 46 | €235,884 | €227,649 | -€8,236 | -3.5% |
| Taxes, remuneration and social security | 45 | €97,111 | €146,462 | +€49,351 | +50.8% |
| Taxes | 450/3 | €15,633 | €24,081 | +€8,448 | +54.0% |
| Remuneration and social security | 454/9 | €81,478 | €122,380 | +€40,902 | +50.2% |
| Accrued charges and deferred income | 492/3 | €56,855 | €45,103 | -€11,752 | -20.7% |
| Turnover | 70 | €2,557,911 | €2,854,464 | +€296,553 | +11.6% |
| Membership fees, donations, legacies and grants | 73 | €253,916 | €161,386 | -€92,529 | -36.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,087,798 | €2,146,900 | +€59,101 | +2.8% |
| Remuneration, social security and pensions | 62 | €363,468 | €410,612 | +€47,144 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,398 | €24,762 | +€9,363 | +60.8% |
| Other operating charges | 640/8 | €95,266 | €242,240 | +€146,974 | +154% |
| Gross operating margin | 9900 | €786,049 | €1,022,098 | +€236,049 | +30.0% |
| Operating profit (loss) | 9901 | €334,807 | €368,224 | +€33,416 | +10.0% |
| Financial income | 75/76B | €21,144 | €42,351 | +€21,207 | +100% |
| Recurring financial income | 75 | €21,144 | €42,351 | +€21,207 | +100% |
| Financial charges | 65/66B | €52,762 | €63,815 | +€11,053 | +20.9% |
| Recurring financial charges | 65 | €52,762 | €63,815 | +€11,053 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €303,190 | €346,759 | +€43,570 | +14.4% |
| Profit (loss) for the period | 9904 | €303,190 | €346,759 | +€43,570 | +14.4% |
| Transfer from tax-exempt reserves | 789 | - | €63,150 | +€63,150 | |
| Transfer to tax-exempt reserves | 689 | €105,250 | €126,300 | +€21,050 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €197,940 | €283,609 | +€85,670 | +43.3% |
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 25 October 2026 via checked.be.