Redwoods Capital: 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.
Redwoods Capital
Largest movements
- Current investments +€2.8m
up €2.8m (+4.8%), from €59.1m to €61.9m
- Receivables within one year +€793,017
up €793,017 (+69.1%), from €1.1m to €1.9m
of which Other amounts receivable: +€792,813
- Reserves +€3.4m
up €3.4m (+24.6%), from €13.7m to €17.1m
of which Distributable reserves: +€3.2m
- Financial income -€18.8m
down €18.8m (-80.1%), from €23.5m to €4.7m
of which Non-recurring financial income: -€21.7m
- Financial charges +€151,775
up €151,775 (+14.2%), from €1.1m to €1.2m
- Gross operating margin -€61,310
down €61,310 (-393%), from -€15,591 to -€76,901
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 | €60,487,643 | €63,885,184 | +€3.4m | +5.6% |
| Current assets | 29/58 | €60,487,643 | €63,885,184 | +€3.4m | +5.6% |
| Amounts receivable within one year | 40/41 | €1,147,082 | €1,940,099 | +€793,017 | +69.1% |
| Trade receivables | 40 | - | €204 | +€204 | |
| Other amounts receivable | 41 | €1,147,082 | €1,939,895 | +€792,813 | +69.1% |
| Current investments | 50/53 | €59,094,814 | €61,913,840 | +€2.8m | +4.8% |
| Cash at bank and in hand | 54/58 | €245,747 | €2,414 | -€243,332 | -99.0% |
| Deferred charges and accrued income | 490/1 | - | €28,831 | +€28,831 | |
| Total equity and liabilities | 10/49 | €60,487,643 | €63,885,184 | +€3.4m | +5.6% |
| Equity | 10/15 | €60,479,713 | €63,855,292 | +€3.4m | +5.6% |
| Contributions | 10/11 | €46,764,018 | €46,764,018 | = | 0.0% |
| Capital | 10 | €46,764,018 | €46,764,018 | = | 0.0% |
| Issued capital | 100 | €46,764,018 | €46,764,018 | = | 0.0% |
| Reserves | 13 | €13,715,000 | €17,091,000 | +€3.4m | +24.6% |
| Non-distributable reserves | 130/1 | €1,429,238 | €1,598,017 | +€168,779 | +11.8% |
| Legal reserve | 130 | €1,429,238 | €1,598,017 | +€168,779 | +11.8% |
| Distributable reserves | 133 | €12,285,762 | €15,492,983 | +€3.2m | +26.1% |
| Profit (loss) carried forward | 14 | €694 | €274 | -€421 | -60.6% |
| Amounts payable | 17/49 | €7,930 | €29,893 | +€21,963 | +277% |
| Amounts payable within one year | 42/48 | €7,930 | €21,092 | +€13,162 | +166% |
| Trade debts | 44 | €7,930 | €16,092 | +€8,162 | +103% |
| Suppliers | 440/4 | €7,930 | €16,092 | +€8,162 | +103% |
| Taxes, remuneration and social security | 45 | - | €5,000 | +€5,000 | |
| Taxes | 450/3 | - | €2,000 | +€2,000 | |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | - | €8,801 | +€8,801 | |
| Other operating charges | 640/8 | €1,053 | €1,290 | +€237 | +22.5% |
| Gross operating margin | 9900 | -€15,591 | -€76,901 | -€61,310 | -393% |
| Operating profit (loss) | 9901 | -€16,644 | -€78,191 | -€61,547 | -370% |
| Financial income | 75/76B | €23,467,351 | €4,674,780 | -€18.8m | -80.1% |
| Recurring financial income | 75 | €1,792,793 | €4,674,780 | +€2.9m | +161% |
| Non-recurring financial income | 76B | €21,674,557 | - | -€21.7m | |
| Financial charges | 65/66B | €1,069,235 | €1,221,010 | +€151,775 | +14.2% |
| Recurring financial charges | 65 | €1,069,235 | €1,221,010 | +€151,775 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €22,381,472 | €3,375,579 | -€19.0m | -84.9% |
| Profit (loss) for the period | 9904 | €22,381,472 | €3,375,579 | -€19.0m | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,381,472 | €3,375,579 | -€19.0m | -84.9% |
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 30 October 2026 via checked.be.