REDWOOD: 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.
REDWOOD
Largest movements
- Tangible fixed assets +€761,668
up €761,668 (+65.1%), from €1.2m to €1.9m
- Debts after one year +€535,631
up €535,631 (+2,825%), from €18,963 to €554,595
of which Financial debts: +€534,281
- Other debts +€254,926
up €254,926 (+498%), from €51,219 to €306,145
- Trade debts -€36,685
down €36,685 (-60.4%), from €60,721 to €24,036
- Other operating charges +€19,602
up €19,602 (+75.5%), from €25,978 to €45,580
- Gross operating margin +€17,484
up €17,484 (+35.9%), from €48,762 to €66,246
- Depreciation +€13,411
up €13,411 (+135%), from €9,921 to €23,332
- Financial charges +€1,496
up €1,496 (+213%), from €701 to €2,197
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 | €1,236,294 | €1,985,334 | +€749,040 | +60.6% |
| Fixed assets | 21/28 | €1,169,315 | €1,930,983 | +€761,668 | +65.1% |
| Tangible fixed assets | 22/27 | €1,169,315 | €1,930,983 | +€761,668 | +65.1% |
| Land and buildings | 22 | €1,169,315 | €1,930,983 | +€761,668 | +65.1% |
| Current assets | 29/58 | €66,978 | €54,351 | -€12,627 | -18.9% |
| Amounts receivable within one year | 40/41 | €65,840 | €51,387 | -€14,453 | -22.0% |
| Trade receivables | 40 | €43,925 | €21,525 | -€22,400 | -51.0% |
| Other amounts receivable | 41 | €21,915 | €29,862 | +€7,947 | +36.3% |
| Cash at bank and in hand | 54/58 | €1,139 | €2,964 | +€1,825 | +160% |
| Total equity and liabilities | 10/49 | €1,236,294 | €1,985,334 | +€749,040 | +60.6% |
| Equity | 10/15 | €1,105,391 | €1,100,559 | -€4,832 | -0.4% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | €1,069,369 | €1,069,369 | = | 0.0% |
| Reserves | 13 | €17,353 | €17,353 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,278 | -€110,110 | -€4,832 | -4.6% |
| Amounts payable | 17/49 | €130,903 | €884,775 | +€753,872 | +576% |
| Amounts payable after more than one year | 17 | €18,963 | €554,595 | +€535,631 | +2,825% |
| Financial debts | 170/4 | €15,638 | €549,920 | +€534,281 | +3,417% |
| Other amounts payable | 178/9 | €3,325 | €4,675 | +€1,350 | +40.6% |
| Amounts payable within one year | 42/48 | €111,940 | €330,181 | +€218,241 | +195% |
| Trade debts | 44 | €60,721 | €24,036 | -€36,685 | -60.4% |
| Suppliers | 440/4 | €60,721 | €24,036 | -€36,685 | -60.4% |
| Other amounts payable | 47/48 | €51,219 | €306,145 | +€254,926 | +498% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,921 | €23,332 | +€13,411 | +135% |
| Other operating charges | 640/8 | €25,978 | €45,580 | +€19,602 | +75.5% |
| Gross operating margin | 9900 | €48,762 | €66,246 | +€17,484 | +35.9% |
| Operating profit (loss) | 9901 | €12,863 | -€2,666 | -€15,529 | |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €701 | €2,197 | +€1,496 | +213% |
| Recurring financial charges | 65 | €701 | €2,197 | +€1,496 | +213% |
| Profit (loss) for the period before taxes | 9903 | €12,173 | -€4,862 | -€17,036 | |
| Income taxes | 67/77 | €0 | -€30 | -€30 | |
| Profit (loss) for the period | 9904 | €12,173 | -€4,832 | -€17,005 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,173 | -€4,832 | -€17,005 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.