LG 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.
LG FOREST
Largest movements
- Receivables within one year +€10,700
up €10,700 (+34.4%), from €31,064 to €41,764
of which Other amounts receivable: +€15,388
- Tangible fixed assets -€10,586
down €10,586 (-7.7%), from €137,482 to €126,896
of which Furniture and vehicles: -€20,105
- Cash +€4,680
up €4,680 (+17.0%), from €27,588 to €32,269
mainly Depreciation (+€49,549) and Net result for the year (+€21,339)
- Reserves +€21,339
up €21,339 (+55.0%), from €38,799 to €60,138
- Trade debts -€17,829
down €17,829 (-35.1%), from €50,753 to €32,924
- Debts after one year -€13,658
down €13,658 (-26.9%), from €50,842 to €37,184
- Current portion of long-term debt +€13,046
up €13,046 (+46.2%), from €28,237 to €41,283
- Depreciation +€13,615
up €13,615 (+37.9%), from €35,934 to €49,549
- Gross operating margin +€8,348
up €8,348 (+7.1%), from €118,322 to €126,670
- Staff costs -€2,579
down €2,579 (-5.9%), from €43,940 to €41,361
- Taxes +€1,953
up €1,953 (+27.9%), from €6,993 to €8,946
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 | €201,604 | €205,519 | +€3,914 | +1.9% |
| Formation expenses | 20 | €595 | €318 | -€276 | -46.4% |
| Fixed assets | 21/28 | €137,482 | €126,896 | -€10,586 | -7.7% |
| Tangible fixed assets | 22/27 | €137,482 | €126,896 | -€10,586 | -7.7% |
| Plant, machinery and equipment | 23 | €80,809 | €90,328 | +€9,520 | +11.8% |
| Furniture and vehicles | 24 | €56,674 | €36,568 | -€20,105 | -35.5% |
| Current assets | 29/58 | €63,528 | €78,304 | +€14,777 | +23.3% |
| Amounts receivable within one year | 40/41 | €31,064 | €41,764 | +€10,700 | +34.4% |
| Trade receivables | 40 | €4,853 | €165 | -€4,688 | -96.6% |
| Other amounts receivable | 41 | €26,211 | €41,599 | +€15,388 | +58.7% |
| Cash at bank and in hand | 54/58 | €27,588 | €32,269 | +€4,680 | +17.0% |
| Deferred charges and accrued income | 490/1 | €4,875 | €4,271 | -€603 | -12.4% |
| Total equity and liabilities | 10/49 | €201,604 | €205,519 | +€3,914 | +1.9% |
| Equity | 10/15 | €49,329 | €70,668 | +€21,339 | +43.3% |
| Contributions | 10/11 | €10,530 | €10,530 | = | 0.0% |
| Reserves | 13 | €38,799 | €60,138 | +€21,339 | +55.0% |
| Distributable reserves | 133 | €38,799 | €60,138 | +€21,339 | +55.0% |
| Amounts payable | 17/49 | €152,275 | €134,851 | -€17,425 | -11.4% |
| Amounts payable after more than one year | 17 | €50,842 | €37,184 | -€13,658 | -26.9% |
| Financial debts | 170/4 | €50,842 | €37,184 | -€13,658 | -26.9% |
| Amounts payable within one year | 42/48 | €101,433 | €97,667 | -€3,766 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €28,237 | €41,283 | +€13,046 | +46.2% |
| Trade debts | 44 | €50,753 | €32,924 | -€17,829 | -35.1% |
| Suppliers | 440/4 | €50,753 | €32,924 | -€17,829 | -35.1% |
| Taxes, remuneration and social security | 45 | €22,443 | €23,460 | +€1,017 | +4.5% |
| Taxes | 450/3 | €17,117 | €18,635 | +€1,518 | +8.9% |
| Remuneration and social security | 454/9 | €5,326 | €4,824 | -€502 | -9.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €43,940 | €41,361 | -€2,579 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,934 | €49,549 | +€13,615 | +37.9% |
| Other operating charges | 640/8 | €1,300 | €1,745 | +€444 | +34.2% |
| Non-recurring operating charges | 66A | €10,121 | €0 | -€10,121 | -100.0% |
| Gross operating margin | 9900 | €118,322 | €126,670 | +€8,348 | +7.1% |
| Operating profit (loss) | 9901 | €27,027 | €34,015 | +€6,988 | +25.9% |
| Financial income | 75/76B | €1,370 | €1,506 | +€135 | +9.9% |
| Recurring financial income | 75 | €1,370 | €1,506 | +€135 | +9.9% |
| Financial charges | 65/66B | €4,237 | €5,236 | +€998 | +23.6% |
| Recurring financial charges | 65 | €4,237 | €5,236 | +€998 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €24,160 | €30,285 | +€6,125 | +25.4% |
| Income taxes | 67/77 | €6,993 | €8,946 | +€1,953 | +27.9% |
| Profit (loss) for the period | 9904 | €17,167 | €21,339 | +€4,172 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,167 | €21,339 | +€4,172 | +24.3% |
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 10 October 2026 via checked.be.