FWood: 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.
FWood
Largest movements
- Tangible fixed assets -€67,120
down €67,120 (-29.0%), from €231,377 to €164,257
of which Other tangible fixed assets: -€60,713
- Stocks and contracts -€13,190
down €13,190 (-17.2%), from €76,790 to €63,600
- Cash -€11,562
down €11,562 (-54.8%), from €21,081 to €9,519
mainly Debts after one year (-€134,749) and Net result for the year (-€122,216)
- Debts after one year -€134,749
down €134,749 (-44.8%), from €300,476 to €165,727
- Profit (loss) carried forward -€122,216
down €122,216 (-64.7%), from €188,984 to €66,769
- Accrued charges and deferred income +€60,817
up €60,817 (+100%), from €60,817 to €121,635
- Current portion of long-term debt +€56,918
up €56,918 (+77.1%), from €73,831 to €130,749
- Other debts +€46,763
up €46,763 (+84.9%), from €55,057 to €101,820
- Gross operating margin +€17,941
up €17,941 (+38.7%), from -€46,396 to -€28,455
- Staff costs +€6,986
up €6,986 (+310%), from €2,253 to €9,239
- Depreciation +€1,543
up €1,543 (+4.8%), from €32,270 to €33,813
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 | €976,100 | €893,766 | -€82,334 | -8.4% |
| Fixed assets | 21/28 | €874,404 | €807,283 | -€67,120 | -7.7% |
| Tangible fixed assets | 22/27 | €231,377 | €164,257 | -€67,120 | -29.0% |
| Plant, machinery and equipment | 23 | €16,777 | €11,905 | -€4,872 | -29.0% |
| Furniture and vehicles | 24 | €3,943 | €2,408 | -€1,535 | -38.9% |
| Other tangible fixed assets | 26 | €210,657 | €149,944 | -€60,713 | -28.8% |
| Financial fixed assets | 28 | €643,027 | €643,027 | = | 0.0% |
| Current assets | 29/58 | €101,697 | €86,483 | -€15,214 | -15.0% |
| Stocks and contracts in progress | 3 | €76,790 | €63,600 | -€13,190 | -17.2% |
| Stocks | 30/36 | €76,790 | €63,600 | -€13,190 | -17.2% |
| Amounts receivable within one year | 40/41 | €3,655 | €13,195 | +€9,540 | +261% |
| Trade receivables | 40 | €1,052 | €12,924 | +€11,871 | +1,128% |
| Other amounts receivable | 41 | €2,603 | €271 | -€2,332 | -89.6% |
| Cash at bank and in hand | 54/58 | €21,081 | €9,519 | -€11,562 | -54.8% |
| Deferred charges and accrued income | 490/1 | €171 | €169 | -€2 | -1.1% |
| Total equity and liabilities | 10/49 | €976,100 | €893,766 | -€82,334 | -8.4% |
| Equity | 10/15 | €472,619 | €350,404 | -€122,216 | -25.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €253,635 | €253,635 | = | 0.0% |
| Distributable reserves | 133 | €253,635 | €253,635 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,984 | €66,769 | -€122,216 | -64.7% |
| Amounts payable | 17/49 | €503,481 | €543,363 | +€39,881 | +7.9% |
| Amounts payable after more than one year | 17 | €300,476 | €165,727 | -€134,749 | -44.8% |
| Financial debts | 170/4 | €300,476 | €165,727 | -€134,749 | -44.8% |
| Amounts payable within one year | 42/48 | €142,188 | €256,001 | +€113,813 | +80.0% |
| Current portion of amounts payable after more than one year | 42 | €73,831 | €130,749 | +€56,918 | +77.1% |
| Trade debts | 44 | €5,736 | €17,056 | +€11,320 | +197% |
| Suppliers | 440/4 | €5,736 | €17,056 | +€11,320 | +197% |
| Advances received on contracts in progress | 46 | €1,740 | - | -€1,740 | |
| Taxes, remuneration and social security | 45 | €5,824 | €6,375 | +€551 | +9.5% |
| Taxes | 450/3 | €444 | €916 | +€472 | +106% |
| Remuneration and social security | 454/9 | €5,380 | €5,459 | +€79 | +1.5% |
| Other amounts payable | 47/48 | €55,057 | €101,820 | +€46,763 | +84.9% |
| Accrued charges and deferred income | 492/3 | €60,817 | €121,635 | +€60,817 | +100% |
| Remuneration, social security and pensions | 62 | €2,253 | €9,239 | +€6,986 | +310% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,270 | €33,813 | +€1,543 | +4.8% |
| Other operating charges | 640/8 | €3,678 | €3,804 | +€126 | +3.4% |
| Non-recurring operating charges | 66A | - | €34,965 | +€34,965 | |
| Gross operating margin | 9900 | -€46,396 | -€28,455 | +€17,941 | +38.7% |
| Operating profit (loss) | 9901 | -€84,597 | -€110,276 | -€25,679 | -30.4% |
| Financial income | 75/76B | €60 | €1 | -€59 | -98.6% |
| Recurring financial income | 75 | €60 | €1 | -€59 | -98.6% |
| Financial charges | 65/66B | €11,902 | €11,941 | +€39 | +0.3% |
| Recurring financial charges | 65 | €11,902 | €11,781 | -€120 | -1.0% |
| Non-recurring financial charges | 66B | - | €160 | +€160 | |
| Profit (loss) for the period before taxes | 9903 | -€96,438 | -€122,216 | -€25,777 | -26.7% |
| Profit (loss) for the period | 9904 | -€96,438 | -€122,216 | -€25,777 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,438 | -€122,216 | -€25,777 | -26.7% |
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 20 October 2026 via checked.be.