LDCwood: 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
LDCwood
NACE 46.832, Wholesale of timber
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€9,788
2024 · -€723,071+€713,283
Equity
€700,472
2024 · €710,261-€9,788
Cash
€14,052
2024 · €244,086-€230,034
Balance sheet total
€10.3m
2024 · €12.0m-€1.7m
Largest movements
Assets
- Tangible fixed assets -€805,537
down €805,537 (-12.1%), from €6.7m to €5.8m
of which Plant, machinery and equipment: -€478,981
- Receivables within one year -€584,375
down €584,375 (-34.2%), from €1.7m to €1.1m
of which Other amounts receivable: -€407,024
- Cash -€230,034
down €230,034 (-94.2%), from €244,086 to €14,052
mainly Trade debts (-€1.4m) and Short-term financial debts (-€625,000)
- Stocks and contracts -€126,833
down €126,833 (-3.8%), from €3.3m to €3.2m
of which Contracts in progress: -€334,773
Equity and liabilities
- Trade debts -€1.4m
down €1.4m (-34.2%), from €4.0m to €2.6m
- Short-term financial debts -€625,000
down €625,000 (-16.3%), from €3.8m to €3.2m
- Debts after one year +€311,066
up €311,066 (+11.9%), from €2.6m to €2.9m
Income statement
- Services and other goods -€358,921
down €358,921 (-13.3%), from €2.7m to €2.3m
- Turnover +€327,506
up €327,506 (+2.7%), from €12.1m to €12.5m
- Goods and materials -€251,774
down €251,774 (-2.9%), from €8.6m to €8.3m
of which Purchases: -€183,684
- Depreciation -€233,862
down €233,862 (-22.0%), from €1.1m to €829,095
- Staff costs -€142,206
down €142,206 (-23.6%), from €602,026 to €459,820
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
-€723,071
Turnover
+€327,506
Other operating income
+€11,824
Goods and materials
+€251,774
Services and other goods
+€358,921
Staff costs
+€142,206
Depreciation
+€233,862
Write-downs
-€17,807
Other operating charges
-€8,649
Other operating items
-€662,008
Financial income
+€9,522
Financial charges
+€65,549
Taxes
+€582
Result 2025
-€9,788
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
+€116,204
Investment
-€19,400
Financing
-€326,838
Cash 2024
€244,086
From operations (derived)
+€116,204
Net result for the year
-€9,788
Depreciation
+€829,095
Stocks and contracts
+€126,833
Receivables within one year
+€584,375
Deferred charges and accrued income
-€18,010
Trade debts
-€1.4m
Tax, wage and social debts
-€21,130
Accrued charges and deferred income
-€4,989
Investment (derived)
-€19,400
Investment in fixed assets (net)
-€19,400
Financing
-€326,838
Debts after one year
+€311,066
Current portion of long-term debt
-€12,904
Short-term financial debts
-€625,000
Cash 2025
€14,052
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,985,142 | €10,252,214 | -€1.7m | -14.5% |
| Fixed assets | 21/28 | €6,662,756 | €5,853,061 | -€809,695 | -12.2% |
| Intangible fixed assets | 21 | €11,492 | €7,334 | -€4,158 | -36.2% |
| Tangible fixed assets | 22/27 | €6,651,264 | €5,845,727 | -€805,537 | -12.1% |
| Land and buildings | 22 | €483,442 | €408,018 | -€75,424 | -15.6% |
| Plant, machinery and equipment | 23 | €2,991,877 | €2,512,896 | -€478,981 | -16.0% |
| Furniture and vehicles | 24 | €7,946 | €20,813 | +€12,868 | +162% |
| Leasing and similar rights | 25 | €3,168,000 | €2,904,000 | -€264,000 | -8.3% |
| Current assets | 29/58 | €5,322,386 | €4,399,153 | -€923,233 | -17.3% |
| Stocks and contracts in progress | 3 | €3,322,247 | €3,195,414 | -€126,833 | -3.8% |
| Stocks | 30/36 | €2,985,485 | €3,193,425 | +€207,940 | +7.0% |
| Goods purchased for resale | 34 | €2,985,485 | €3,175,695 | +€190,210 | +6.4% |
| Advance payments | 36 | - | €17,730 | +€17,730 | |
| Contracts in progress | 37 | €336,762 | €1,989 | -€334,773 | -99.4% |
| Amounts receivable within one year | 40/41 | €1,707,860 | €1,123,484 | -€584,375 | -34.2% |
| Trade receivables | 40 | €1,281,622 | €1,104,270 | -€177,351 | -13.8% |
| Other amounts receivable | 41 | €426,238 | €19,214 | -€407,024 | -95.5% |
| Cash at bank and in hand | 54/58 | €244,086 | €14,052 | -€230,034 | -94.2% |
| Deferred charges and accrued income | 490/1 | €48,193 | €66,203 | +€18,010 | +37.4% |
| Total equity and liabilities | 10/49 | €11,985,142 | €10,252,214 | -€1.7m | -14.5% |
| Equity | 10/15 | €710,261 | €700,472 | -€9,788 | -1.4% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €270,261 | €260,472 | -€9,788 | -3.6% |
| Amounts payable | 17/49 | €11,274,881 | €9,551,742 | -€1.7m | -15.3% |
| Amounts payable after more than one year | 17 | €2,610,157 | €2,921,223 | +€311,066 | +11.9% |
| Financial debts | 170/4 | €2,610,157 | €2,921,223 | +€311,066 | +11.9% |
| Subordinated loans | 170 | €200,000 | €200,000 | = | 0.0% |
| Leasing and similar obligations | 172 | €2,074,286 | €1,508,571 | -€565,714 | -27.3% |
| Credit institutions | 173 | €335,871 | €227,905 | -€107,967 | -32.1% |
| Other loans | 174 | - | €984,747 | +€984,747 | |
| Amounts payable within one year | 42/48 | €8,600,516 | €6,571,299 | -€2.0m | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €686,585 | €673,681 | -€12,904 | -1.9% |
| Financial debts | 43 | €3,825,000 | €3,200,000 | -€625,000 | -16.3% |
| Credit institutions | 430/8 | €3,825,000 | €3,200,000 | -€625,000 | -16.3% |
| Trade debts | 44 | €4,005,453 | €2,635,271 | -€1.4m | -34.2% |
| Suppliers | 440/4 | €4,005,453 | €2,635,271 | -€1.4m | -34.2% |
| Taxes, remuneration and social security | 45 | €83,478 | €62,348 | -€21,130 | -25.3% |
| Taxes | 450/3 | €17,772 | €9,960 | -€7,812 | -44.0% |
| Remuneration and social security | 454/9 | €65,706 | €52,388 | -€13,318 | -20.3% |
| Accrued charges and deferred income | 492/3 | €64,208 | €59,220 | -€4,989 | -7.8% |
| Operating income | 70/76A | €12,497,650 | €12,165,446 | -€332,204 | -2.7% |
| Turnover | 70 | €12,147,318 | €12,474,825 | +€327,506 | +2.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €336,762 | -€334,773 | -€671,535 | |
| Other operating income | 74 | €13,570 | €25,394 | +€11,824 | +87.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €12,932,584 | €11,962,750 | -€969,834 | -7.5% |
| Goods for resale, raw materials and consumables | 60 | €8,561,013 | €8,309,239 | -€251,774 | -2.9% |
| Purchases | 600/8 | €8,684,774 | €8,501,089 | -€183,684 | -2.1% |
| Change in stocks: decrease (increase) | 609 | -€123,760 | -€191,850 | -€68,090 | -55.0% |
| Services and other goods | 61 | €2,704,506 | €2,345,585 | -€358,921 | -13.3% |
| Remuneration, social security and pensions | 62 | €602,026 | €459,820 | -€142,206 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,062,957 | €829,095 | -€233,862 | -22.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20,869 | -€3,062 | +€17,807 | +85.3% |
| Other operating charges | 640/8 | €13,424 | €22,073 | +€8,649 | +64.4% |
| Non-recurring operating charges | 66A | €9,527 | €0 | -€9,527 | -100% |
| Operating profit (loss) | 9901 | -€434,934 | €202,696 | +€637,630 | |
| Financial income | 75/76B | €1,919 | €11,442 | +€9,522 | +496% |
| Recurring financial income | 75 | €1,919 | €11,442 | +€9,522 | +496% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Other financial income | 752/9 | €1,919 | €11,442 | +€9,522 | +496% |
| Financial charges | 65/66B | €288,868 | €223,319 | -€65,549 | -22.7% |
| Recurring financial charges | 65 | €288,868 | €223,319 | -€65,549 | -22.7% |
| Debt charges | 650 | €213,988 | €151,144 | -€62,843 | -29.4% |
| Other financial charges | 652/9 | €74,880 | €72,174 | -€2,705 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€721,882 | -€9,181 | +€712,701 | +98.7% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €1,189 | €607 | -€582 | -49.0% |
| Taxes | 670/3 | €1,189 | €607 | -€582 | -49.0% |
| Profit (loss) for the period | 9904 | -€723,071 | -€9,788 | +€713,283 | +98.6% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€723,071 | -€9,788 | +€713,283 | +98.6% |
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 25 October 2026 via checked.be.