db Hardwoods: 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
db Hardwoods
NACE 46.832, Wholesale of timber
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€151,562
2024 · €275,331-€123,769
Equity
€5.8m
2024 · €5.6m+€151,562
Cash
€770,782
2024 · €213,467+€557,314
Balance sheet total
€11.4m
2024 · €12.5m-€1.1m
Largest movements
Assets
- Current investments -€1.3m
down €1.3m (-38.6%), from €3.3m to €2.0m
- Cash +€557,314
up €557,314 (+261%), from €213,467 to €770,782
mainly Current investments (+€1.3m) and Receivables within one year (+€328,979)
- Receivables within one year -€328,979
down €328,979 (-19.0%), from €1.7m to €1.4m
of which Trade receivables: -€257,989
Equity and liabilities
- Debts after one year -€1.3m
down €1.3m (-23.6%), from €5.5m to €4.2m
- Reserves +€151,562
up €151,562 (+2.7%), from €5.5m to €5.7m
of which Distributable reserves: +€572,562
Income statement
- Turnover -€1.6m
down €1.6m (-12.6%), from €12.6m to €11.0m
- Goods and materials -€1.4m
down €1.4m (-12.8%), from €10.7m to €9.3m
of which Purchases: -€1.9m
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.
Result 2024
€275,331
Turnover
-€1.6m
Other operating income
-€3,404
Goods and materials
+€1.4m
Services and other goods
+€24,206
Staff costs
-€4,666
Depreciation
-€3,238
Write-downs
-€27,210
Other operating charges
-€2,577
Other operating items
+€17,000
Financial income
-€46,410
Financial charges
+€106,415
Taxes
+€39,743
Result 2025
€151,562
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€654,916
Investment
+€1.2m
Financing
-€1.3m
Cash 2024
€213,467
From operations (derived)
+€654,916
Net result for the year
+€151,562
Depreciation
+€45,354
Stocks and contracts
+€105,344
Receivables within one year
+€328,979
Deferred charges and accrued income
-€47,677
Trade debts
+€20,062
Tax, wage and social debts
+€10,792
Other debts
+€40,501
Investment (derived)
+€1.2m
Investment in fixed assets (net)
-€55,416
Current investments
+€1.3m
Financing
-€1.3m
Debts after one year
-€1.3m
Cash 2025
€770,782
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,501,959 | €11,424,875 | -€1.1m | -8.6% |
| Fixed assets | 21/28 | €295,724 | €305,787 | +€10,063 | +3.4% |
| Tangible fixed assets | 22/27 | €295,724 | €305,787 | +€10,063 | +3.4% |
| Land and buildings | 22 | €225,515 | €215,936 | -€9,579 | -4.2% |
| Furniture and vehicles | 24 | €70,210 | €89,851 | +€19,641 | +28.0% |
| Current assets | 29/58 | €12,206,235 | €11,119,088 | -€1.1m | -8.9% |
| Stocks and contracts in progress | 3 | €6,998,142 | €6,892,798 | -€105,344 | -1.5% |
| Stocks | 30/36 | €6,998,142 | €6,892,798 | -€105,344 | -1.5% |
| Goods purchased for resale | 34 | €6,998,142 | €6,892,798 | -€105,344 | -1.5% |
| Amounts receivable within one year | 40/41 | €1,728,968 | €1,399,989 | -€328,979 | -19.0% |
| Trade receivables | 40 | €1,532,079 | €1,274,091 | -€257,989 | -16.8% |
| Other amounts receivable | 41 | €196,889 | €125,898 | -€70,990 | -36.1% |
| Current investments | 50/53 | €3,257,815 | €2,000,000 | -€1.3m | -38.6% |
| Other investments | 51/53 | €3,257,815 | €2,000,000 | -€1.3m | -38.6% |
| Cash at bank and in hand | 54/58 | €213,467 | €770,782 | +€557,314 | +261% |
| Deferred charges and accrued income | 490/1 | €7,844 | €55,520 | +€47,677 | +608% |
| Total equity and liabilities | 10/49 | €12,501,959 | €11,424,875 | -€1.1m | -8.6% |
| Equity | 10/15 | €5,618,282 | €5,769,844 | +€151,562 | +2.7% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €5,548,282 | €5,699,844 | +€151,562 | +2.7% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €947,250 | €526,250 | -€421,000 | -44.4% |
| Distributable reserves | 133 | €4,594,032 | €5,166,594 | +€572,562 | +12.5% |
| Amounts payable | 17/49 | €6,883,677 | €5,655,032 | -€1.2m | -17.8% |
| Amounts payable after more than one year | 17 | €5,500,000 | €4,200,000 | -€1.3m | -23.6% |
| Financial debts | 170/4 | €5,500,000 | €4,200,000 | -€1.3m | -23.6% |
| Other loans | 174 | €5,500,000 | €4,200,000 | -€1.3m | -23.6% |
| Amounts payable within one year | 42/48 | €1,383,677 | €1,455,032 | +€71,354 | +5.2% |
| Trade debts | 44 | €537,188 | €557,250 | +€20,062 | +3.7% |
| Suppliers | 440/4 | €537,188 | €557,250 | +€20,062 | +3.7% |
| Taxes, remuneration and social security | 45 | €29,285 | €40,077 | +€10,792 | +36.9% |
| Taxes | 450/3 | €0 | €17,357 | +€17,357 | |
| Remuneration and social security | 454/9 | €29,285 | €22,720 | -€6,566 | -22.4% |
| Other amounts payable | 47/48 | €817,204 | €857,705 | +€40,501 | +5.0% |
| Operating income | 70/76A | €12,581,784 | €11,008,882 | -€1.6m | -12.5% |
| Turnover | 70 | €12,577,720 | €10,991,223 | -€1.6m | -12.6% |
| Other operating income | 74 | €4,064 | €659 | -€3,404 | -83.8% |
| Non-recurring operating income | 76A | - | €17,000 | +€17,000 | |
| Operating charges | 60/66A | €11,801,673 | €10,452,289 | -€1.3m | -11.4% |
| Goods for resale, raw materials and consumables | 60 | €10,665,175 | €9,302,306 | -€1.4m | -12.8% |
| Purchases | 600/8 | €11,054,268 | €9,196,962 | -€1.9m | -16.8% |
| Change in stocks: decrease (increase) | 609 | -€389,093 | €105,344 | +€494,437 | |
| Services and other goods | 61 | €796,788 | €772,583 | -€24,206 | -3.0% |
| Remuneration, social security and pensions | 62 | €263,567 | €268,233 | +€4,666 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,115 | €45,354 | +€3,238 | +7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €27,210 | +€27,210 | |
| Other operating charges | 640/8 | €34,028 | €36,605 | +€2,577 | +7.6% |
| Operating profit (loss) | 9901 | €780,111 | €556,593 | -€223,518 | -28.7% |
| Financial income | 75/76B | €153,014 | €106,604 | -€46,410 | -30.3% |
| Recurring financial income | 75 | €153,014 | €106,604 | -€46,410 | -30.3% |
| Income from current assets | 751 | €123,728 | €65,817 | -€57,911 | -46.8% |
| Other financial income | 752/9 | €29,286 | €40,786 | +€11,501 | +39.3% |
| Financial charges | 65/66B | €565,805 | €459,390 | -€106,415 | -18.8% |
| Recurring financial charges | 65 | €565,805 | €459,390 | -€106,415 | -18.8% |
| Debt charges | 650 | €543,256 | €435,038 | -€108,218 | -19.9% |
| Other financial charges | 652/9 | €22,549 | €24,352 | +€1,803 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €367,319 | €203,806 | -€163,513 | -44.5% |
| Income taxes | 67/77 | €91,988 | €52,245 | -€39,743 | -43.2% |
| Taxes | 670/3 | €92,938 | €52,245 | -€40,693 | -43.8% |
| Tax adjustments and reversals of tax provisions | 77 | €950 | €0 | -€950 | -100.0% |
| Profit (loss) for the period | 9904 | €275,331 | €151,562 | -€123,769 | -45.0% |
| Transfer from tax-exempt reserves | 789 | €273,650 | €421,000 | +€147,350 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €548,981 | €572,562 | +€23,581 | +4.3% |
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 14 October 2026 via checked.be.