NORDIC TIMBER: 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.
NORDIC TIMBER
Largest movements
- Current investments -€400,000
down €400,000 (-41.9%), from €955,382 to €555,382
- Receivables within one year +€164,317
up €164,317 (+159%), from €103,303 to €267,620
of which Trade receivables: +€170,875
- Cash +€22,196
up €22,196 (+5.5%), from €405,192 to €427,388
mainly Current investments (+€400,000) and Net result for the year (+€46,943)
- Reserves -€287,910
down €287,910 (-27.2%), from €1.1m to €770,923
of which Tax-exempt reserves: -€295,452
- Trade debts +€45,434
up €45,434 (+8,290%), from €548 to €45,983
- Other debts +€34,853
up €34,853 (+11.6%), from €300,000 to €334,853
- Taxes -€85,303
down €85,303 (-94.1%), from €90,639 to €5,336
- Gross operating margin -€35,905
down €35,905 (-50.7%), from €70,839 to €34,934
- Other operating charges +€19,528
up €19,528 (+1,713%), from €1,140 to €20,668
- Financial income -€17,242
down €17,242 (-20.6%), from €83,853 to €66,611
- Financial charges -€6,125
down €6,125 (-17.6%), from €34,724 to €28,599
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 | €1,467,377 | €1,253,890 | -€213,487 | -14.5% |
| Fixed assets | 21/28 | €3,500 | €3,500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €3,500 | €3,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €1,463,877 | €1,250,390 | -€213,487 | -14.6% |
| Amounts receivable within one year | 40/41 | €103,303 | €267,620 | +€164,317 | +159% |
| Trade receivables | 40 | €74,813 | €245,688 | +€170,875 | +228% |
| Other amounts receivable | 41 | €28,490 | €21,932 | -€6,558 | -23.0% |
| Current investments | 50/53 | €955,382 | €555,382 | -€400,000 | -41.9% |
| Cash at bank and in hand | 54/58 | €405,192 | €427,388 | +€22,196 | +5.5% |
| Total equity and liabilities | 10/49 | €1,467,377 | €1,253,890 | -€213,487 | -14.5% |
| Equity | 10/15 | €1,143,833 | €855,923 | -€287,910 | -25.2% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €1,058,833 | €770,923 | -€287,910 | -27.2% |
| Tax-exempt reserves | 132 | €295,452 | €0 | -€295,452 | -100% |
| Distributable reserves | 133 | €763,381 | €770,923 | +€7,542 | +1.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €323,543 | €397,967 | +€74,423 | +23.0% |
| Amounts payable within one year | 42/48 | €323,543 | €397,967 | +€74,423 | +23.0% |
| Trade debts | 44 | €548 | €45,983 | +€45,434 | +8,290% |
| Suppliers | 440/4 | €548 | €45,983 | +€45,434 | +8,290% |
| Taxes, remuneration and social security | 45 | €22,995 | €17,131 | -€5,864 | -25.5% |
| Taxes | 450/3 | €22,995 | €17,131 | -€5,864 | -25.5% |
| Other amounts payable | 47/48 | €300,000 | €334,853 | +€34,853 | +11.6% |
| Other operating charges | 640/8 | €1,140 | €20,668 | +€19,528 | +1,713% |
| Gross operating margin | 9900 | €70,839 | €34,934 | -€35,905 | -50.7% |
| Operating profit (loss) | 9901 | €69,699 | €14,266 | -€55,433 | -79.5% |
| Financial income | 75/76B | €83,853 | €66,611 | -€17,242 | -20.6% |
| Recurring financial income | 75 | €83,853 | €66,611 | -€17,242 | -20.6% |
| Financial charges | 65/66B | €34,724 | €28,599 | -€6,125 | -17.6% |
| Recurring financial charges | 65 | €34,724 | €28,599 | -€6,125 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €118,828 | €52,279 | -€66,549 | -56.0% |
| Income taxes | 67/77 | €90,639 | €5,336 | -€85,303 | -94.1% |
| Profit (loss) for the period | 9904 | €28,189 | €46,943 | +€18,753 | +66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,189 | €46,943 | +€18,753 | +66.5% |
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 22 October 2026 via checked.be.