LJ 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.
LJ FOREST
Largest movements
- Tangible fixed assets -€122,600
down €122,600 (-40.0%), from €306,773 to €184,173
of which Leasing and similar rights: -€63,400
- Receivables within one year +€45,423
up €45,423 (+78.5%), from €57,868 to €103,291
of which Trade receivables: +€42,078
- Stocks and contracts +€19,200
new in 2025: €19,200
- Cash -€5,464
down €5,464 (-25.6%), from €21,313 to €15,849
mainly Debts after one year (-€83,719) and Receivables within one year (-€45,423)
- Debts after one year -€83,719
down €83,719 (-40.5%), from €206,565 to €122,846
of which Financial debts: -€83,719
- Trade debts +€50,567
up €50,567 (+373%), from €13,560 to €64,127
- Current portion of long-term debt -€14,719
down €14,719 (-15.0%), from €98,438 to €83,719
- Reserves -€12,067
down €12,067 (-18.4%), from €65,761 to €53,693
- Gross operating margin +€15,064
up €15,064 (+14.6%), from €103,287 to €118,351
- Financial charges -€2,211
down €2,211 (-23.8%), from €9,297 to €7,086
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 | €390,566 | €330,585 | -€59,980 | -15.4% |
| Fixed assets | 21/28 | €306,773 | €187,506 | -€119,267 | -38.9% |
| Tangible fixed assets | 22/27 | €306,773 | €184,173 | -€122,600 | -40.0% |
| Furniture and vehicles | 24 | €97,639 | €38,439 | -€59,200 | -60.6% |
| Leasing and similar rights | 25 | €209,133 | €145,733 | -€63,400 | -30.3% |
| Financial fixed assets | 28 | €0 | €3,333 | +€3,333 | |
| Current assets | 29/58 | €83,793 | €143,080 | +€59,287 | +70.8% |
| Stocks and contracts in progress | 3 | - | €19,200 | +€19,200 | |
| Stocks | 30/36 | - | €19,200 | +€19,200 | |
| Amounts receivable within one year | 40/41 | €57,868 | €103,291 | +€45,423 | +78.5% |
| Trade receivables | 40 | €48,763 | €90,841 | +€42,078 | +86.3% |
| Other amounts receivable | 41 | €9,105 | €12,450 | +€3,345 | +36.7% |
| Cash at bank and in hand | 54/58 | €21,313 | €15,849 | -€5,464 | -25.6% |
| Deferred charges and accrued income | 490/1 | €4,613 | €4,740 | +€127 | +2.8% |
| Total equity and liabilities | 10/49 | €390,566 | €330,585 | -€59,980 | -15.4% |
| Equity | 10/15 | €71,961 | €59,893 | -€12,067 | -16.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,761 | €53,693 | -€12,067 | -18.4% |
| Distributable reserves | 133 | €65,761 | €53,693 | -€12,067 | -18.4% |
| Amounts payable | 17/49 | €318,605 | €270,692 | -€47,913 | -15.0% |
| Amounts payable after more than one year | 17 | €206,565 | €122,846 | -€83,719 | -40.5% |
| Financial debts | 170/4 | €206,565 | €122,846 | -€83,719 | -40.5% |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €111,998 | €147,846 | +€35,848 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €98,438 | €83,719 | -€14,719 | -15.0% |
| Trade debts | 44 | €13,560 | €64,127 | +€50,567 | +373% |
| Suppliers | 440/4 | €13,560 | €64,127 | +€50,567 | +373% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €42 | €0 | -€42 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,600 | €122,600 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €732 | +€344 | +88.9% |
| Gross operating margin | 9900 | €103,287 | €118,351 | +€15,064 | +14.6% |
| Operating profit (loss) | 9901 | -€19,701 | -€4,981 | +€14,720 | +74.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,297 | €7,086 | -€2,211 | -23.8% |
| Recurring financial charges | 65 | €9,297 | €7,086 | -€2,211 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | -€28,998 | -€12,067 | +€16,930 | +58.4% |
| Profit (loss) for the period | 9904 | -€28,998 | -€12,067 | +€16,930 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,998 | -€12,067 | +€16,930 | +58.4% |
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 15 October 2026 via checked.be.