PB 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.
PB FOREST
Largest movements
- Cash +€18,756
up €18,756 (+408.5%), from €4,592 to €23,348
mainly Net result for the year (+€14,036) and Depreciation (+€9,496)
- Tangible fixed assets -€9,496
down €9,496 (-35.1%), from €27,064 to €17,568
of which Furniture and vehicles: -€7,246
- Deferred charges and accrued income -€1,512
down €1,512 (-74.4%), from €2,033 to €521
- Receivables within one year +€721
up €721 (+4.2%), from €17,072 to €17,793
of which Other amounts receivable: +€2,340
- Profit (loss) carried forward +€13,203
up €13,203, from €0 to €13,203
- Debts after one year -€9,063
down €9,063 (-100.0%), from €9,063 to €0
- Other debts +€4,919
up €4,919 (+91.6%), from €5,368 to €10,287
- Gross operating margin -€10,190
down €10,190 (-25.7%), from €39,605 to €29,415
- Taxes -€3,425
down €3,425 (-47.8%), from €7,170 to €3,745
- Depreciation -€1,424
down €1,424 (-13.0%), from €10,920 to €9,496
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 | €50,761 | €59,230 | +€8,468 | +16.7% |
| Fixed assets | 21/28 | €27,064 | €17,568 | -€9,496 | -35.1% |
| Tangible fixed assets | 22/27 | €27,064 | €17,568 | -€9,496 | -35.1% |
| Plant, machinery and equipment | 23 | €6,098 | €3,848 | -€2,250 | -36.9% |
| Furniture and vehicles | 24 | €20,966 | €13,720 | -€7,246 | -34.6% |
| Current assets | 29/58 | €23,697 | €41,661 | +€17,964 | +75.8% |
| Amounts receivable within one year | 40/41 | €17,072 | €17,793 | +€721 | +4.2% |
| Trade receivables | 40 | €15,163 | €13,543 | -€1,619 | -10.7% |
| Other amounts receivable | 41 | €1,910 | €4,249 | +€2,340 | +122.5% |
| Cash at bank and in hand | 54/58 | €4,592 | €23,348 | +€18,756 | +408.5% |
| Deferred charges and accrued income | 490/1 | €2,033 | €521 | -€1,512 | -74.4% |
| Total equity and liabilities | 10/49 | €50,761 | €59,230 | +€8,468 | +16.7% |
| Equity | 10/15 | €23,067 | €36,270 | +€13,203 | +57.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,067 | €18,067 | = | 0.0% |
| Distributable reserves | 133 | €18,067 | €18,067 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €13,203 | +€13,203 | |
| Amounts payable | 17/49 | €27,694 | €22,960 | -€4,735 | -17.1% |
| Amounts payable after more than one year | 17 | €9,063 | €0 | -€9,063 | -100.0% |
| Financial debts | 170/4 | €9,063 | €0 | -€9,063 | -100.0% |
| Amounts payable within one year | 42/48 | €18,632 | €22,697 | +€4,065 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €9,471 | €9,063 | -€408 | -4.3% |
| Trade debts | 44 | €749 | €316 | -€434 | -57.9% |
| Suppliers | 440/4 | €749 | €316 | -€434 | -57.9% |
| Taxes, remuneration and social security | 45 | €3,043 | €3,031 | -€12 | -0.4% |
| Taxes | 450/3 | €3,043 | €3,031 | -€12 | -0.4% |
| Other amounts payable | 47/48 | €5,368 | €10,287 | +€4,919 | +91.6% |
| Accrued charges and deferred income | 492/3 | - | €263 | +€263 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,920 | €9,496 | -€1,424 | -13.0% |
| Other operating charges | 640/8 | €1,178 | €1,051 | -€127 | -10.8% |
| Gross operating margin | 9900 | €39,605 | €29,415 | -€10,190 | -25.7% |
| Operating profit (loss) | 9901 | €27,508 | €18,868 | -€8,640 | -31.4% |
| Financial income | 75/76B | €2 | €29 | +€27 | +1500.5% |
| Recurring financial income | 75 | €2 | €29 | +€27 | +1500.5% |
| Financial charges | 65/66B | €1,414 | €1,116 | -€297 | -21.0% |
| Recurring financial charges | 65 | €1,414 | €1,116 | -€297 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €26,096 | €17,781 | -€8,315 | -31.9% |
| Income taxes | 67/77 | €7,170 | €3,745 | -€3,425 | -47.8% |
| Profit (loss) for the period | 9904 | €18,926 | €14,036 | -€4,890 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,926 | €14,036 | -€4,890 | -25.8% |
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 9 October 2026 via checked.be.