The Forge Group: what changed
Two fiscal 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.
The Forge Group
Largest movements
- Cash -€301,612
down €301,612 (-98.2%), from €307,145 to €5,532
mainly Trade debts (-€143,237) and Accrued charges and deferred income (-€118,422)
- Receivables within one year -€30,497
down €30,497 (-96.7%), from €31,547 to €1,050
of which Trade receivables: -€21,463
- Intangible fixed assets -€11,218
down €11,218 (-25.0%), from €44,870 to €33,653
- Trade debts -€143,237
down €143,237 (-99.5%), from €143,930 to €693
- Accrued charges and deferred income -€118,422
down €118,422 (-100.0%), from €118,422 to €0
- Tax, wage and social debts -€47,237
down €47,237 (-100.0%), from €47,237 to €0
- Other debts -€18,897
down €18,897 (-100.0%), from €18,897 to €0
- Profit (loss) carried forward -€15,533
down €15,533 (-29.5%), from €52,575 to €37,042
- Gross operating margin -€151,772
down €151,772, from €148,185 to -€3,587
- Other operating charges -€134,143
down €134,143 (-99.6%), from €134,728 to €585
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 | €383,561 | €40,235 | -€343,327 | -89.5% |
| Fixed assets | 21/28 | €44,870 | €33,653 | -€11,218 | -25.0% |
| Intangible fixed assets | 21 | €44,870 | €33,653 | -€11,218 | -25.0% |
| Current assets | 29/58 | €338,691 | €6,582 | -€332,109 | -98.1% |
| Amounts receivable within one year | 40/41 | €31,547 | €1,050 | -€30,497 | -96.7% |
| Trade receivables | 40 | €22,471 | €1,009 | -€21,463 | -95.5% |
| Other amounts receivable | 41 | €9,075 | €41 | -€9,034 | -99.5% |
| Cash at bank and in hand | 54/58 | €307,145 | €5,532 | -€301,612 | -98.2% |
| Total equity and liabilities | 10/49 | €383,561 | €40,235 | -€343,327 | -89.5% |
| Equity | 10/15 | €55,075 | €39,542 | -€15,533 | -28.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,575 | €37,042 | -€15,533 | -29.5% |
| Amounts payable | 17/49 | €328,486 | €693 | -€327,793 | -99.8% |
| Amounts payable within one year | 42/48 | €210,064 | €693 | -€209,371 | -99.7% |
| Trade debts | 44 | €143,930 | €693 | -€143,237 | -99.5% |
| Suppliers | 440/4 | €143,930 | €693 | -€143,237 | -99.5% |
| Taxes, remuneration and social security | 45 | €47,237 | €0 | -€47,237 | -100.0% |
| Taxes | 450/3 | €47,237 | €0 | -€47,237 | -100.0% |
| Other amounts payable | 47/48 | €18,897 | €0 | -€18,897 | -100.0% |
| Accrued charges and deferred income | 492/3 | €118,422 | €0 | -€118,422 | -100.0% |
| Remuneration, social security and pensions | 62 | €718 | €0 | -€718 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,218 | €11,218 | = | 0.0% |
| Other operating charges | 640/8 | €134,728 | €585 | -€134,143 | -99.6% |
| Gross operating margin | 9900 | €148,185 | -€3,587 | -€151,772 | |
| Operating profit (loss) | 9901 | €1,522 | -€15,390 | -€16,912 | |
| Financial charges | 65/66B | €1,147 | €143 | -€1,004 | -87.5% |
| Recurring financial charges | 65 | €1,147 | €143 | -€1,004 | -87.5% |
| Profit (loss) for the period before taxes | 9903 | €375 | -€15,533 | -€15,909 | |
| Income taxes | 67/77 | -€148 | €0 | +€148 | |
| Profit (loss) for the period | 9904 | €523 | -€15,533 | -€16,056 | |
| Profit (loss) for the period to be appropriated | 9905 | €523 | -€15,533 | -€16,056 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.