In an annual report from Nottm Forest, the club have announced £21.5 million losses for the year ending from the 31st May 2015, according to BT Sport.
This means that this is down from £24 million, and there have been several contributions towards this.
The average attendance at the City Ground has risen to 23,492 from 22,630 and season ticket sales have increased from 14,853 to 15,482.
Wages at the City Ground went up around £2m, from £24m to £26m and the club's net debt increased from £52m to £82m.
The club hopes to end its current transfer embargo, imposed under Financial Fair Play regulations in the summer.
The Championship side has turned to their promising young players this term and it is hoped that the cost cutting under Dougie Freedman will bring the 2015/2016 accounts in line.
In addition, the sale of Michail Antonio to West Ham in the summer for £7 million will push the club in the right direction financially.
Forest currently occupy 12th place in the Championship and will be hoping that there will be funds in the summer for the club to recruit, if they comply within the FFP rules.
Dougie Freedman's side were defeated 1-0 by Burnley at Turf Moor on Tuesday night, courtesy of a solitary Sam Vokes goal.
Forest fans… What do you make of this news? What do you think of the statistics? Let us know in your thoughts and opinions below!