Belgian Timber Trade: 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.
Belgian Timber Trade
Largest movements
- Receivables within one year +€364,553
up €364,553 (+177%), from €206,256 to €570,809
of which Trade receivables: +€357,084
- Cash +€150,603
up €150,603 (+36.0%), from €417,856 to €568,459
mainly Net result for the year (+€433,307) and Debts after one year (+€100,000)
- Reserves +€433,307
up €433,307 (+119%), from €364,813 to €798,120
- Debts after one year +€100,000
up €100,000 (+50.0%), from €200,000 to €300,000
- Trade debts -€18,152
down €18,152 (-36.8%), from €49,299 to €31,148
- Gross operating margin +€263,501
up €263,501 (+82.8%), from €318,156 to €581,657
- Taxes +€67,153
up €67,153 (+95.1%), from €70,576 to €137,729
- Financial income +€6,432
up €6,432 (+203%), from €3,174 to €9,606
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 | €624,112 | €1,139,267 | +€515,156 | +82.5% |
| Current assets | 29/58 | €624,112 | €1,139,267 | +€515,156 | +82.5% |
| Amounts receivable within one year | 40/41 | €206,256 | €570,809 | +€364,553 | +177% |
| Trade receivables | 40 | €174,240 | €531,324 | +€357,084 | +205% |
| Other amounts receivable | 41 | €32,015 | €39,485 | +€7,469 | +23.3% |
| Cash at bank and in hand | 54/58 | €417,856 | €568,459 | +€150,603 | +36.0% |
| Total equity and liabilities | 10/49 | €624,112 | €1,139,267 | +€515,156 | +82.5% |
| Equity | 10/15 | €374,813 | €808,120 | +€433,307 | +116% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €364,813 | €798,120 | +€433,307 | +119% |
| Distributable reserves | 133 | €364,813 | €798,120 | +€433,307 | +119% |
| Amounts payable | 17/49 | €249,299 | €331,148 | +€81,848 | +32.8% |
| Amounts payable after more than one year | 17 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Other amounts payable | 178/9 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Amounts payable within one year | 42/48 | €49,299 | €31,148 | -€18,152 | -36.8% |
| Trade debts | 44 | €49,299 | €31,148 | -€18,152 | -36.8% |
| Suppliers | 440/4 | €49,299 | €31,148 | -€18,152 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €318,156 | €581,657 | +€263,501 | +82.8% |
| Operating profit (loss) | 9901 | €317,651 | €581,138 | +€263,487 | +82.9% |
| Financial income | 75/76B | €3,174 | €9,606 | +€6,432 | +203% |
| Recurring financial income | 75 | €3,174 | €9,606 | +€6,432 | +203% |
| Financial charges | 65/66B | €18,519 | €19,707 | +€1,188 | +6.4% |
| Recurring financial charges | 65 | €18,519 | €19,707 | +€1,188 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €302,306 | €571,036 | +€268,731 | +88.9% |
| Income taxes | 67/77 | €70,576 | €137,729 | +€67,153 | +95.1% |
| Profit (loss) for the period | 9904 | €231,729 | €433,307 | +€201,578 | +87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €231,729 | €433,307 | +€201,578 | +87.0% |
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 28 October 2026 via checked.be.