FORESTCO: 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.
FORESTCO
Largest movements
- Cash +€135,192
up €135,192 (+380%), from €35,566 to €170,759
mainly Net result for the year (+€118,393) and Receivables within one year (+€117,854)
- Receivables within one year -€117,854
down €117,854 (-48.4%), from €243,623 to €125,769
of which Other amounts receivable: -€118,764
- Tangible fixed assets +€61,268
up €61,268 (+122%), from €50,080 to €111,348
of which Furniture and vehicles: +€66,381
- Financial fixed assets +€17,000
up €17,000 (+8.5%), from €200,000 to €217,000
- Tax, wage and social debts +€56,647
up €56,647 (+151%), from €37,398 to €94,045
of which Taxes: +€52,658
- Debts after one year +€45,003
up €45,003 (+223%), from €20,212 to €65,216
- Current portion of long-term debt +€16,115
up €16,115 (+223%), from €7,222 to €23,337
- Other debts -€12,576
down €12,576 (-2.8%), from €443,903 to €431,326
- Gross operating margin +€207,478
up €207,478 (+123%), from €168,633 to €376,111
- Financial income -€123,750
down €123,750 (-100%), from €123,750 to €0
- Staff costs +€42,102
up €42,102 (+34.5%), from €121,990 to €164,093
- Taxes +€39,734
up €39,734 (+338%), from €11,748 to €51,482
- Depreciation +€17,142
up €17,142 (+137%), from €12,541 to €29,683
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 | €529,875 | €627,650 | +€97,775 | +18.5% |
| Fixed assets | 21/28 | €250,080 | €328,348 | +€78,268 | +31.3% |
| Tangible fixed assets | 22/27 | €50,080 | €111,348 | +€61,268 | +122% |
| Land and buildings | 22 | €24,057 | €18,944 | -€5,113 | -21.3% |
| Furniture and vehicles | 24 | €26,023 | €92,403 | +€66,381 | +255% |
| Financial fixed assets | 28 | €200,000 | €217,000 | +€17,000 | +8.5% |
| Current assets | 29/58 | €279,795 | €299,302 | +€19,507 | +7.0% |
| Amounts receivable within one year | 40/41 | €243,623 | €125,769 | -€117,854 | -48.4% |
| Trade receivables | 40 | €0 | €909 | +€909 | |
| Other amounts receivable | 41 | €243,623 | €124,860 | -€118,764 | -48.7% |
| Cash at bank and in hand | 54/58 | €35,566 | €170,759 | +€135,192 | +380% |
| Deferred charges and accrued income | 490/1 | €606 | €2,775 | +€2,169 | +358% |
| Total equity and liabilities | 10/49 | €529,875 | €627,650 | +€97,775 | +18.5% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €527,875 | €625,650 | +€97,775 | +18.5% |
| Amounts payable after more than one year | 17 | €20,212 | €65,216 | +€45,003 | +223% |
| Financial debts | 170/4 | €20,212 | €65,216 | +€45,003 | +223% |
| Amounts payable within one year | 42/48 | €507,663 | €560,434 | +€52,771 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €7,222 | €23,337 | +€16,115 | +223% |
| Financial debts | 43 | €8,480 | €6,741 | -€1,739 | -20.5% |
| Credit institutions | 430/8 | €8,480 | €6,741 | -€1,739 | -20.5% |
| Trade debts | 44 | €10,661 | €4,984 | -€5,677 | -53.2% |
| Suppliers | 440/4 | €10,661 | €4,984 | -€5,677 | -53.2% |
| Taxes, remuneration and social security | 45 | €37,398 | €94,045 | +€56,647 | +151% |
| Taxes | 450/3 | €17,646 | €70,304 | +€52,658 | +298% |
| Remuneration and social security | 454/9 | €19,752 | €23,741 | +€3,989 | +20.2% |
| Other amounts payable | 47/48 | €443,903 | €431,326 | -€12,576 | -2.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €121,990 | €164,093 | +€42,102 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,541 | €29,683 | +€17,142 | +137% |
| Other operating charges | 640/8 | €1,049 | €7,573 | +€6,524 | +622% |
| Gross operating margin | 9900 | €168,633 | €376,111 | +€207,478 | +123% |
| Operating profit (loss) | 9901 | €33,053 | €174,762 | +€141,709 | +429% |
| Financial income | 75/76B | €123,750 | €0 | -€123,750 | -100% |
| Recurring financial income | 75 | €123,750 | €0 | -€123,750 | -100% |
| Financial charges | 65/66B | €2,566 | €4,887 | +€2,321 | +90.4% |
| Recurring financial charges | 65 | €2,566 | €4,887 | +€2,321 | +90.4% |
| Profit (loss) for the period before taxes | 9903 | €154,237 | €169,875 | +€15,638 | +10.1% |
| Income taxes | 67/77 | €11,748 | €51,482 | +€39,734 | +338% |
| Profit (loss) for the period | 9904 | €142,489 | €118,393 | -€24,095 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €142,489 | €118,393 | -€24,095 | -16.9% |
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 18 October 2026 via checked.be.