FORCAL: what changed
What changed
FORCAL
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€7,399
2024 · €960+€6,439
Equity
€156,208
2024 · €158,808-€2,601
Cash
€117,326
2024 · €109,132+€8,194
Balance sheet total
€181,860
2024 · €168,924+€12,936
Largest movements
Assets
- Cash +€8,194
up €8,194 (+7.5%), from €109,132 to €117,326
mainly Other debts (+€9,532) and Tax, wage and social debts (+€9,309)
- Receivables within one year +€3,152
up €3,152 (+23.2%), from €13,601 to €16,754
of which Trade receivables: +€3,152
Equity and liabilities
- Other debts +€9,532
up €9,532 (+320%), from €2,977 to €12,509
- Tax, wage and social debts +€9,309
up €9,309 (+420%), from €2,217 to €11,526
- Trade debts -€3,304
down €3,304 (-67.1%), from €4,921 to €1,617
- Reserves -€2,601
down €2,601 (-1.7%), from €152,608 to €150,007
Income statement
- Depreciation -€5,576
down €5,576 (-46.3%), from €12,053 to €6,477
- Gross operating margin +€3,736
up €3,736 (+24.0%), from €15,601 to €19,338
- Taxes +€2,068
up €2,068 (+414%), from €500 to €2,568
- Financial income -€772
down €772 (-53.2%), from €1,452 to €679
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€960
Gross operating margin
+€3,736
Staff costs
-€25
Depreciation
+€5,576
Other operating charges
+€94
Other operating items
-€2
Financial income
-€772
Financial charges
-€99
Taxes
-€2,068
Result 2025
€7,399
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€25,708
Investment
-€7,514
Financing
-€10,000
Cash 2024
€109,132
From operations (derived)
+€25,708
Net result for the year
+€7,399
Depreciation
+€6,477
Receivables within one year
-€3,152
Deferred charges and accrued income
-€553
Trade debts
-€3,304
Tax, wage and social debts
+€9,309
Other debts
+€9,532
Investment (derived)
-€7,514
Investment in fixed assets (net)
-€7,514
Financing
-€10,000
Contributions, distributions and other
-€10,000
Cash 2025
€117,326
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €168,924 | €181,860 | +€12,936 | +7.7% |
| Fixed assets | 21/28 | €26,998 | €28,034 | +€1,037 | +3.8% |
| Intangible fixed assets | 21 | €30 | - | -€30 | |
| Tangible fixed assets | 22/27 | €26,891 | €27,958 | +€1,067 | +4.0% |
| Plant, machinery and equipment | 23 | €411 | €1,929 | +€1,518 | +369% |
| Furniture and vehicles | 24 | €1,754 | €826 | -€928 | -52.9% |
| Other tangible fixed assets | 26 | €24,726 | €25,203 | +€477 | +1.9% |
| Financial fixed assets | 28 | €76 | €76 | = | 0.0% |
| Current assets | 29/58 | €141,926 | €153,825 | +€11,899 | +8.4% |
| Amounts receivable within one year | 40/41 | €13,601 | €16,754 | +€3,152 | +23.2% |
| Trade receivables | 40 | €13,096 | €16,249 | +€3,152 | +24.1% |
| Other amounts receivable | 41 | €505 | €505 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,132 | €117,326 | +€8,194 | +7.5% |
| Deferred charges and accrued income | 490/1 | €19,193 | €19,746 | +€553 | +2.9% |
| Total equity and liabilities | 10/49 | €168,924 | €181,860 | +€12,936 | +7.7% |
| Equity | 10/15 | €158,808 | €156,208 | -€2,601 | -1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €152,608 | €150,007 | -€2,601 | -1.7% |
| Distributable reserves | 133 | €152,608 | €150,007 | -€2,601 | -1.7% |
| Amounts payable | 17/49 | €10,116 | €25,652 | +€15,536 | +154% |
| Amounts payable within one year | 42/48 | €10,116 | €25,652 | +€15,536 | +154% |
| Trade debts | 44 | €4,921 | €1,617 | -€3,304 | -67.1% |
| Suppliers | 440/4 | €4,921 | €1,617 | -€3,304 | -67.1% |
| Taxes, remuneration and social security | 45 | €2,217 | €11,526 | +€9,309 | +420% |
| Taxes | 450/3 | €2,217 | €11,526 | +€9,309 | +420% |
| Other amounts payable | 47/48 | €2,977 | €12,509 | +€9,532 | +320% |
| Non-recurring operating income | 76A | €123 | €177 | +€53 | +43.1% |
| Remuneration, social security and pensions | 62 | €2,132 | €2,157 | +€25 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,053 | €6,477 | -€5,576 | -46.3% |
| Other operating charges | 640/8 | €728 | €634 | -€94 | -12.9% |
| Non-recurring operating charges | 66A | - | €2 | +€2 | |
| Gross operating margin | 9900 | €15,601 | €19,338 | +€3,736 | +24.0% |
| Operating profit (loss) | 9901 | €689 | €10,067 | +€9,378 | +1,362% |
| Financial income | 75/76B | €1,452 | €679 | -€772 | -53.2% |
| Recurring financial income | 75 | €1,452 | €679 | -€772 | -53.2% |
| Financial charges | 65/66B | €680 | €779 | +€99 | +14.5% |
| Recurring financial charges | 65 | €680 | €663 | -€18 | -2.6% |
| Non-recurring financial charges | 66B | - | €116 | +€116 | |
| Profit (loss) for the period before taxes | 9903 | €1,460 | €9,967 | +€8,507 | +583% |
| Income taxes | 67/77 | €500 | €2,568 | +€2,068 | +414% |
| Profit (loss) for the period | 9904 | €960 | €7,399 | +€6,439 | +671% |
| Profit (loss) for the period to be appropriated | 9905 | €960 | €7,399 | +€6,439 | +671% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.