JUST WOOD: what changed
JUST WOOD
Largest movements
- Stocks and contracts +€125,105
up €125,105 (+262%), from €47,820 to €172,925
of which Contracts in progress: +€160,000
- Receivables within one year -€79,349
down €79,349 (-92.0%), from €86,280 to €6,931
of which Trade receivables: -€49,296
- Cash +€36,505
up €36,505 (+16.9%), from €215,584 to €252,089
mainly Receivables within one year (+€79,349) and Net result for the year (+€53,978)
- Deferred charges and accrued income -€9,312
no longer reported in 2025 (was €9,312)
- Tangible fixed assets -€8,898
down €8,898 (-51.7%), from €17,210 to €8,312
of which Furniture and vehicles: -€6,979
- Reserves +€53,978
up €53,978 (+19.3%), from €279,722 to €333,700
- Tax, wage and social debts +€27,442
up €27,442 (+252%), from €10,905 to €38,347
of which Remuneration and social security: +€15,793
- Trade debts -€7,627
down €7,627 (-38.5%), from €19,829 to €12,202
- Debts after one year -€5,533
no longer reported in 2025 (was €5,533)
- Purchases and services -€555,893
no longer reported in 2025 (was €555,893)
- Gross operating margin +€73,328
up €73,328 (+26.7%), from €274,782 to €348,110
- Taxes +€18,124
up €18,124 (+148%), from €12,237 to €30,361
- Financial charges +€4,716
up €4,716 (+373%), from €1,264 to €5,980
- Depreciation -€3,589
down €3,589 (-24.9%), from €14,411 to €10,822
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €376,477 | €440,528 | +€64,050 | +17.0% |
| Fixed assets | 21/28 | €17,481 | €8,583 | -€8,898 | -50.9% |
| Tangible fixed assets | 22/27 | €17,210 | €8,312 | -€8,898 | -51.7% |
| Plant, machinery and equipment | 23 | €8,613 | €6,694 | -€1,920 | -22.3% |
| Furniture and vehicles | 24 | €8,597 | €1,618 | -€6,979 | -81.2% |
| Financial fixed assets | 28 | €271 | €271 | = | 0.0% |
| Current assets | 29/58 | €358,996 | €431,945 | +€72,949 | +20.3% |
| Stocks and contracts in progress | 3 | €47,820 | €172,925 | +€125,105 | +262% |
| Stocks | 30/36 | €47,820 | €12,925 | -€34,895 | -73.0% |
| Contracts in progress | 37 | - | €160,000 | +€160,000 | |
| Amounts receivable within one year | 40/41 | €86,280 | €6,931 | -€79,349 | -92.0% |
| Trade receivables | 40 | €49,296 | - | -€49,296 | |
| Other amounts receivable | 41 | €36,984 | €6,931 | -€30,053 | -81.3% |
| Cash at bank and in hand | 54/58 | €215,584 | €252,089 | +€36,505 | +16.9% |
| Deferred charges and accrued income | 490/1 | €9,312 | - | -€9,312 | |
| Total equity and liabilities | 10/49 | €376,477 | €440,528 | +€64,050 | +17.0% |
| Equity | 10/15 | €298,314 | €352,292 | +€53,978 | +18.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €279,722 | €333,700 | +€53,978 | +19.3% |
| Distributable reserves | 133 | €279,722 | €333,700 | +€53,978 | +19.3% |
| Amounts payable | 17/49 | €78,163 | €88,236 | +€10,072 | +12.9% |
| Amounts payable after more than one year | 17 | €5,533 | - | -€5,533 | |
| Financial debts | 170/4 | €5,533 | - | -€5,533 | |
| Amounts payable within one year | 42/48 | €72,631 | €88,236 | +€15,605 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €32,689 | €28,498 | -€4,191 | -12.8% |
| Trade debts | 44 | €19,829 | €12,202 | -€7,627 | -38.5% |
| Suppliers | 440/4 | €19,829 | €12,202 | -€7,627 | -38.5% |
| Taxes, remuneration and social security | 45 | €10,905 | €38,347 | +€27,442 | +252% |
| Taxes | 450/3 | - | €11,649 | +€11,649 | |
| Remuneration and social security | 454/9 | €10,905 | €26,698 | +€15,793 | +145% |
| Other amounts payable | 47/48 | €9,208 | €9,188 | -€20 | -0.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €555,893 | - | -€555,893 | |
| Remuneration, social security and pensions | 62 | €221,880 | €222,190 | +€310 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,411 | €10,822 | -€3,589 | -24.9% |
| Other operating charges | 640/8 | €1,645 | €2,891 | +€1,246 | +75.8% |
| Non-recurring operating charges | 66A | - | €24,532 | +€24,532 | |
| Gross operating margin | 9900 | €274,782 | €348,110 | +€73,328 | +26.7% |
| Operating profit (loss) | 9901 | €36,846 | €87,675 | +€50,828 | +138% |
| Financial income | 75/76B | €3,133 | €2,646 | -€488 | -15.6% |
| Recurring financial income | 75 | €3,133 | €2,646 | -€488 | -15.6% |
| Financial charges | 65/66B | €1,264 | €5,980 | +€4,716 | +373% |
| Recurring financial charges | 65 | €1,264 | €5,980 | +€4,716 | +373% |
| Profit (loss) for the period before taxes | 9903 | €38,715 | €84,340 | +€45,625 | +118% |
| Income taxes | 67/77 | €12,237 | €30,361 | +€18,124 | +148% |
| Profit (loss) for the period | 9904 | €26,478 | €53,978 | +€27,500 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €26,478 | €53,978 | +€27,500 | +104% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.