VIRGIN 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.
VIRGIN FOREST
Largest movements
- Tangible fixed assets -€32,311
down €32,311 (-17.7%), from €182,402 to €150,090
- Receivables within one year -€19,759
down €19,759 (-30.7%), from €64,321 to €44,563
of which Other amounts receivable: -€24,119
- Cash -€3,576
down €3,576 (-61.9%), from €5,774 to €2,198
mainly Debts after one year (-€52,308) and Short-term financial debts (-€20,049)
- Debts after one year -€52,308
down €52,308 (-39.0%), from €134,072 to €81,764
of which Other amounts payable: -€26,886
- Trade debts +€33,494
up €33,494 (+275%), from €12,180 to €45,674
- Short-term financial debts -€20,049
down €20,049 (-80.0%), from €25,049 to €5,000
- Advances received -€16,000
no longer reported in 2025 (was €16,000)
- Profit (loss) carried forward +€5,761
up €5,761 (+12.2%), from -€47,077 to -€41,316
- Gross operating margin +€9,097
up €9,097 (+20.5%), from €44,410 to €53,507
- Depreciation +€2,761
up €2,761 (+7.5%), from €36,806 to €39,567
- Write-downs +€2,379
new in 2025: €2,379
- Financial charges -€1,409
down €1,409 (-20.5%), from €6,855 to €5,447
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 | €305,460 | €251,135 | -€54,325 | -17.8% |
| Fixed assets | 21/28 | €182,584 | €150,273 | -€32,311 | -17.7% |
| Tangible fixed assets | 22/27 | €182,402 | €150,090 | -€32,311 | -17.7% |
| Land and buildings | 22 | €121,285 | €108,129 | -€13,156 | -10.8% |
| Plant, machinery and equipment | 23 | €30,015 | €23,573 | -€6,442 | -21.5% |
| Furniture and vehicles | 24 | €31,101 | €18,388 | -€12,713 | -40.9% |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €122,875 | €100,862 | -€22,014 | -17.9% |
| Stocks and contracts in progress | 3 | €51,375 | €53,488 | +€2,113 | +4.1% |
| Stocks | 30/36 | €51,375 | €53,488 | +€2,113 | +4.1% |
| Amounts receivable within one year | 40/41 | €64,321 | €44,563 | -€19,759 | -30.7% |
| Trade receivables | 40 | €34,415 | €38,776 | +€4,360 | +12.7% |
| Other amounts receivable | 41 | €29,906 | €5,787 | -€24,119 | -80.6% |
| Cash at bank and in hand | 54/58 | €5,774 | €2,198 | -€3,576 | -61.9% |
| Deferred charges and accrued income | 490/1 | €1,404 | €613 | -€792 | -56.4% |
| Total equity and liabilities | 10/49 | €305,460 | €251,135 | -€54,325 | -17.8% |
| Equity | 10/15 | €84,506 | €90,267 | +€5,761 | +6.8% |
| Contributions | 10/11 | €131,583 | €131,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,077 | -€41,316 | +€5,761 | +12.2% |
| Amounts payable | 17/49 | €220,954 | €160,868 | -€60,086 | -27.2% |
| Amounts payable after more than one year | 17 | €134,072 | €81,764 | -€52,308 | -39.0% |
| Financial debts | 170/4 | €46,090 | €20,668 | -€25,422 | -55.2% |
| Other amounts payable | 178/9 | €87,982 | €61,096 | -€26,886 | -30.6% |
| Amounts payable within one year | 42/48 | €84,213 | €78,817 | -€5,396 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €25,983 | €25,422 | -€562 | -2.2% |
| Financial debts | 43 | €25,049 | €5,000 | -€20,049 | -80.0% |
| Credit institutions | 430/8 | €25,049 | €5,000 | -€20,049 | -80.0% |
| Trade debts | 44 | €12,180 | €45,674 | +€33,494 | +275% |
| Suppliers | 440/4 | €12,180 | €45,674 | +€33,494 | +275% |
| Advances received on contracts in progress | 46 | €16,000 | - | -€16,000 | |
| Taxes, remuneration and social security | 45 | - | €2,721 | +€2,721 | |
| Taxes | 450/3 | - | €2,721 | +€2,721 | |
| Other amounts payable | 47/48 | €5,000 | - | -€5,000 | |
| Accrued charges and deferred income | 492/3 | €2,669 | €287 | -€2,383 | -89.3% |
| Non-recurring operating income | 76A | €614 | - | -€614 | |
| Remuneration, social security and pensions | 62 | €936 | €864 | -€71 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,806 | €39,567 | +€2,761 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,379 | +€2,379 | |
| Other operating charges | 640/8 | €387 | €548 | +€160 | +41.4% |
| Gross operating margin | 9900 | €44,410 | €53,507 | +€9,097 | +20.5% |
| Operating profit (loss) | 9901 | €6,281 | €10,149 | +€3,868 | +61.6% |
| Financial income | 75/76B | €980 | €1,059 | +€79 | +8.0% |
| Recurring financial income | 75 | €980 | €1,059 | +€79 | +8.0% |
| Financial charges | 65/66B | €6,855 | €5,447 | -€1,409 | -20.5% |
| Recurring financial charges | 65 | €6,855 | €5,447 | -€1,409 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €405 | €5,761 | +€5,356 | +1,321% |
| Profit (loss) for the period | 9904 | €405 | €5,761 | +€5,356 | +1,321% |
| Profit (loss) for the period to be appropriated | 9905 | €405 | €5,761 | +€5,356 | +1,321% |
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 13 October 2026 via checked.be.