REWOOD: 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
REWOOD
NACE 46.832, Wholesale of timber
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€342,037
2024 · €266,453+€75,584
Equity
€3.9m
2024 · €3.8m+€95,246
Cash
€251,758
2024 · €291,412-€39,654
Balance sheet total
€5.6m
2024 · €5.8m-€260,426
Largest movements
Assets
- Current investments -€200,000
down €200,000 (-86.9%), from €230,150 to €30,150
Equity and liabilities
- Debts after one year -€289,136
down €289,136 (-31.1%), from €930,439 to €641,303
- Other debts +€282,763
up €282,763 (+63.9%), from €442,363 to €725,126
- Trade debts -€201,116
down €201,116 (-100%), from €201,116 to €0
- Tax, wage and social debts -€154,465
down €154,465 (-79.0%), from €195,418 to €40,953
of which Taxes: -€151,292
- Reserves +€89,096
up €89,096 (+2.4%), from €3.8m to €3.9m
of which Distributable reserves: +€89,096
Income statement
- Gross operating margin -€124,486
down €124,486 (-15.1%), from €825,705 to €701,219
- Staff costs -€59,091
down €59,091 (-34.7%), from €170,298 to €111,207
- Write-downs -€21,629
down €21,629 (-100%), from €21,629 to €0
- Financial charges +€18,806
up €18,806 (+41.9%), from €44,886 to €63,691
- Financial income +€15,267
up €15,267 (+96.2%), from €15,863 to €31,130
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
€266,453
Gross operating margin
-€124,486
Staff costs
+€59,091
Depreciation
-€6,830
Write-downs
+€21,629
Other operating charges
+€9,575
Other operating items
+€6,586
Financial income
+€15,267
Financial charges
-€18,806
Taxes
+€8,308
Deferred taxes and other
+€105,250
Result 2025
€342,037
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
+€329,377
Investment
+€160,613
Financing
-€529,644
Cash 2024
€291,412
From operations (derived)
+€329,377
Net result for the year
+€342,037
Depreciation
+€85,617
Stocks and contracts
+€9,059
Receivables within one year
-€31,859
Deferred charges and accrued income
-€2,658
Trade debts
-€201,116
Tax, wage and social debts
-€154,465
Other debts
+€282,763
Investment (derived)
+€160,613
Investment in fixed assets (net)
-€39,387
Current investments
+€200,000
Financing
-€529,644
Debts after one year
-€289,136
Current portion of long-term debt
+€6,284
Contributions, distributions and other
-€246,791
Cash 2025
€251,758
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,826,786 | €5,566,360 | -€260,426 | -4.5% |
| Fixed assets | 21/28 | €4,323,840 | €4,277,610 | -€46,230 | -1.1% |
| Intangible fixed assets | 21 | €7,080 | €4,591 | -€2,489 | -35.2% |
| Tangible fixed assets | 22/27 | €206,824 | €163,083 | -€43,741 | -21.1% |
| Land and buildings | 22 | €28,723 | €34,238 | +€5,516 | +19.2% |
| Plant, machinery and equipment | 23 | €27,783 | €38,121 | +€10,338 | +37.2% |
| Furniture and vehicles | 24 | €148,810 | €90,127 | -€58,683 | -39.4% |
| Other tangible fixed assets | 26 | €1,508 | €597 | -€911 | -60.4% |
| Financial fixed assets | 28 | €4,109,935 | €4,109,935 | = | 0.0% |
| Current assets | 29/58 | €1,502,947 | €1,288,750 | -€214,196 | -14.3% |
| Stocks and contracts in progress | 3 | €70,764 | €61,705 | -€9,059 | -12.8% |
| Stocks | 30/36 | €70,764 | €61,705 | -€9,059 | -12.8% |
| Amounts receivable within one year | 40/41 | €906,133 | €937,992 | +€31,859 | +3.5% |
| Trade receivables | 40 | €855,647 | €852,611 | -€3,036 | -0.4% |
| Other amounts receivable | 41 | €50,487 | €85,381 | +€34,895 | +69.1% |
| Current investments | 50/53 | €230,150 | €30,150 | -€200,000 | -86.9% |
| Cash at bank and in hand | 54/58 | €291,412 | €251,758 | -€39,654 | -13.6% |
| Deferred charges and accrued income | 490/1 | €4,487 | €7,145 | +€2,658 | +59.2% |
| Total equity and liabilities | 10/49 | €5,826,786 | €5,566,360 | -€260,426 | -4.5% |
| Equity | 10/15 | €3,774,597 | €3,869,843 | +€95,246 | +2.5% |
| Contributions | 10/11 | €12,400 | €18,550 | +€6,150 | +49.6% |
| Reserves | 13 | €3,762,197 | €3,851,293 | +€89,096 | +2.4% |
| Tax-exempt reserves | 132 | €378,900 | €378,900 | = | 0.0% |
| Distributable reserves | 133 | €3,383,297 | €3,472,393 | +€89,096 | +2.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,052,189 | €1,696,517 | -€355,672 | -17.3% |
| Amounts payable after more than one year | 17 | €930,439 | €641,303 | -€289,136 | -31.1% |
| Financial debts | 170/4 | €930,439 | €641,303 | -€289,136 | -31.1% |
| Amounts payable within one year | 42/48 | €1,121,750 | €1,055,214 | -€66,535 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €282,853 | €289,136 | +€6,284 | +2.2% |
| Trade debts | 44 | €201,116 | €0 | -€201,116 | -100% |
| Suppliers | 440/4 | €201,116 | €0 | -€201,116 | -100% |
| Taxes, remuneration and social security | 45 | €195,418 | €40,953 | -€154,465 | -79.0% |
| Taxes | 450/3 | €183,056 | €31,764 | -€151,292 | -82.6% |
| Remuneration and social security | 454/9 | €12,362 | €9,188 | -€3,174 | -25.7% |
| Other amounts payable | 47/48 | €442,363 | €725,126 | +€282,763 | +63.9% |
| Non-recurring operating income | 76A | €1,106 | €0 | -€1,106 | -100% |
| Remuneration, social security and pensions | 62 | €170,298 | €111,207 | -€59,091 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,787 | €85,617 | +€6,830 | +8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,629 | €0 | -€21,629 | -100% |
| Other operating charges | 640/8 | €21,552 | €11,977 | -€9,575 | -44.4% |
| Non-recurring operating charges | 66A | €6,586 | €0 | -€6,586 | -100% |
| Gross operating margin | 9900 | €825,705 | €701,219 | -€124,486 | -15.1% |
| Operating profit (loss) | 9901 | €526,853 | €492,418 | -€34,435 | -6.5% |
| Financial income | 75/76B | €15,863 | €31,130 | +€15,267 | +96.2% |
| Recurring financial income | 75 | €15,863 | €31,130 | +€15,267 | +96.2% |
| Financial charges | 65/66B | €44,886 | €63,691 | +€18,806 | +41.9% |
| Recurring financial charges | 65 | €44,886 | €63,691 | +€18,806 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €497,831 | €459,857 | -€37,974 | -7.6% |
| Transfer to deferred taxes | 680 | €105,250 | €0 | -€105,250 | -100% |
| Income taxes | 67/77 | €126,128 | €117,820 | -€8,308 | -6.6% |
| Profit (loss) for the period | 9904 | €266,453 | €342,037 | +€75,584 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €266,453 | €342,037 | +€75,584 | +28.4% |
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 14 October 2026 via checked.be.