ForMotion: 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.
What changed
ForMotion
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2019not consecutivefiled annual accounts (NBB)
Net result for the year
€235.3m
2019 · -€35,210+€235.3m
Equity
€334.0m
2019 · €37.1m+€297.0m
Cash
-
not filed
Balance sheet total
€402.2m
2019 · €40.6m+€361.6m
Largest movements
Assets
- Financial fixed assets +€352.7m
up €352.7m (+871%), from €40.5m to €393.3m
of which Affiliated companies: +€347.9m
- Receivables after one year +€8.9m
up €8.9m (+25,942%), from €34,132 to €8.9m
Equity and liabilities
- Equity +€297.0m
up €297.0m (+801%), from €37.1m to €334.0m
of which Profit (loss) carried forward: +€297.0m
- Other debts +€61.8m
up €61.8m (+1,832%), from €3.4m to €65.1m
Income statement
- Financial income +€238.2m
up €238.2m (+5,361,558%), from €4,442 to €238.2m
- Services and other goods +€2.1m
up €2.1m (+2,903%), from €71,091 to €2.1m
- Financial charges +€1.4m
up €1.4m (+8,185%), from €17,643 to €1.5m
- Other operating charges +€1.2m
up €1.2m (+133,201%), from €918 to €1.2m
- Write-downs -€1.2m
new in 2025: -€1.2m
From the 2019 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.
Result 2019
-€35,210
Turnover
+€984,131
Services and other goods
-€2.1m
Staff costs
-€250,551
Write-downs
+€1.2m
Other operating charges
-€1.2m
Financial income
+€238.2m
Financial charges
-€1.4m
Taxes
-€930
Result 2025
€235.3m
raises the resultlowers the result
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2019 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,605,482 | €402,246,219 | +€361.6m | +891% |
| Fixed assets | 21/28 | €40,504,552 | €393,253,184 | +€352.7m | +871% |
| Financial fixed assets | 28 | €40,504,552 | €393,253,184 | +€352.7m | +871% |
| Affiliated companies | 280/1 | €39,538,145 | €387,424,394 | +€347.9m | +880% |
| Participating interests | 280 | €39,538,145 | €387,424,394 | +€347.9m | +880% |
| Companies linked by participating interests | 282/3 | €966,407 | €3,020,549 | +€2.1m | +213% |
| Participating interests | 282 | €966,407 | €3,020,549 | +€2.1m | +213% |
| Other financial fixed assets | 284/8 | - | €2,808,241 | +€2.8m | |
| Shares | 284 | - | €2,808,241 | +€2.8m | |
| Current assets | 29/58 | €100,930 | €8,993,035 | +€8.9m | +8,810% |
| Amounts receivable after more than one year | 29 | €34,132 | €8,888,711 | +€8.9m | +25,942% |
| Other amounts receivable | 291 | €34,132 | €8,888,711 | +€8.9m | +25,942% |
| Amounts receivable within one year | 40/41 | €66,798 | €104,324 | +€37,526 | +56.2% |
| Trade receivables | 40 | €50,000 | €63,730 | +€13,730 | +27.5% |
| Other amounts receivable | 41 | €16,798 | €40,594 | +€23,796 | +142% |
| Total equity and liabilities | 10/49 | €40,605,482 | €402,246,219 | +€361.6m | +891% |
| Equity | 10/15 | €37,062,898 | €334,019,879 | +€297.0m | +801% |
| Contributions | 10/11 | €162,693 | €52,035,771 | +€51.9m | +31,884% |
| Capital | 10 | €162,693 | €162,693 | = | 0.0% |
| Issued capital | 100 | €162,693 | €162,693 | = | 0.0% |
| Contributions outside capital | 11 | €51,873,078 | €51,873,078 | = | 0.0% |
| Share premium | 1100/10 | - | €51,873,078 | +€51.9m | |
| Reserves | 13 | €16,269 | €16,269 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €16,269 | +€16,269 | |
| Legal reserve | 130 | €16,269 | €16,269 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,989,142 | €281,967,839 | +€297.0m | |
| Amounts payable | 17/49 | €3,542,584 | €68,226,340 | +€64.7m | +1,826% |
| Amounts payable after more than one year | 17 | - | €1,335,300 | +€1.3m | |
| Financial debts | 170/4 | - | €1,335,300 | +€1.3m | |
| Other loans | 174 | - | €1,335,300 | +€1.3m | |
| Amounts payable within one year | 42/48 | €3,442,054 | €66,693,880 | +€63.3m | +1,838% |
| Current portion of amounts payable after more than one year | 42 | - | €46,200 | +€46,200 | |
| Trade debts | 44 | €70,500 | €1,412,564 | +€1.3m | +1,904% |
| Suppliers | 440/4 | €70,500 | €1,412,564 | +€1.3m | +1,904% |
| Taxes, remuneration and social security | 45 | - | €89,971 | +€89,971 | |
| Taxes | 450/3 | - | €456 | +€456 | |
| Remuneration and social security | 454/9 | - | €89,515 | +€89,515 | |
| Other amounts payable | 47/48 | €3,371,554 | €65,145,145 | +€61.8m | +1,832% |
| Accrued charges and deferred income | 492/3 | €100,530 | €197,160 | +€96,630 | +96.1% |
| Operating income | 70/76A | €50,000 | €1,034,131 | +€984,131 | +1,968% |
| Turnover | 70 | €50,000 | €1,034,131 | +€984,131 | +1,968% |
| Operating charges | 60/66A | €72,009 | €2,457,416 | +€2.4m | +3,313% |
| Services and other goods | 61 | €71,091 | €2,134,547 | +€2.1m | +2,903% |
| Remuneration, social security and pensions | 62 | - | €250,551 | +€250,551 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,151,389 | -€1.2m | |
| Other operating charges | 640/8 | €918 | €1,223,707 | +€1.2m | +133,201% |
| Operating profit (loss) | 9901 | -€22,009 | -€1,423,285 | -€1.4m | -6,367% |
| Financial income | 75/76B | €4,442 | €238,164,829 | +€238.2m | +5,361,558% |
| Recurring financial income | 75 | €4,442 | €238,164,829 | +€238.2m | +5,361,558% |
| Income from financial fixed assets | 750 | - | €237,581,840 | +€237.6m | |
| Income from current assets | 751 | €622 | €582,989 | +€582,367 | +93,628% |
| Other financial income | 752/9 | €3,820 | - | -€3,820 | |
| Financial charges | 65/66B | €17,643 | €1,461,761 | +€1.4m | +8,185% |
| Recurring financial charges | 65 | €17,643 | €1,461,761 | +€1.4m | +8,185% |
| Debt charges | 650 | €14,891 | €1,394,686 | +€1.4m | +9,266% |
| Other financial charges | 652/9 | €2,752 | €67,075 | +€64,323 | +2,337% |
| Profit (loss) for the period before taxes | 9903 | -€35,210 | €235,279,783 | +€235.3m | |
| Income taxes | 67/77 | - | €930 | +€930 | |
| Taxes | 670/3 | - | €930 | +€930 | |
| Profit (loss) for the period | 9904 | -€35,210 | €235,278,853 | +€235.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,210 | €235,278,853 | +€235.3m |
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.