Robert Diffels: what changed
Two fiscal 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
Robert Diffels
NACE 02.400, Forestry and logging
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€24,294
2024 · €125,909-€101,615
Equity
€1.3m
2024 · €1.3m+€21,252
Cash
€158,993
2024 · €126,579+€32,413
Balance sheet total
€3.3m
2024 · €3.7m-€411,084
Largest movements
Assets
- Tangible fixed assets -€552,015
down €552,015 (-24.1%), from €2.3m to €1.7m
- Stocks and contracts +€273,385
up €273,385 (+289.3%), from €94,500 to €367,885
- Receivables within one year -€175,119
down €175,119 (-26.7%), from €655,213 to €480,094
of which Trade receivables: -€224,678
Equity and liabilities
- Debts after one year -€341,802
down €341,802 (-22.5%), from €1.5m to €1.2m
of which Financial debts: -€342,959
- Current portion of long-term debt -€93,353
down €93,353 (-14.1%), from €663,351 to €569,999
- Reserves +€50,203
up €50,203 (+4.0%), from €1.3m to €1.3m
Income statement
- Staff costs +€99,959
up €99,959 (+13.5%), from €742,120 to €842,079
- Gross operating margin -€75,872
down €75,872 (-4.0%), from €1.9m to €1.8m
- Taxes -€35,408
down €35,408 (-94.2%), from €37,578 to €2,170
- Depreciation -€26,050
down €26,050 (-2.9%), from €900,387 to €874,337
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
€125,909
Gross operating margin
-€75,872
Staff costs
-€99,959
Depreciation
+€26,050
Write-downs
-€10,455
Other operating charges
-€2,551
Other operating items
+€2,444
Financial income
+€10,168
Financial charges
+€13,152
Taxes
+€35,408
Result 2025
€24,294
Cash bridge derived
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
+€795,932
Investment
-€325,322
Financing
-€438,197
Cash 2024
€126,579
From operations (derived)
+€795,932
Net result for the year
+€24,294
Depreciation
+€874,337
Stocks and contracts
-€273,385
Receivables within one year
+€175,119
Deferred charges and accrued income
-€7,252
Trade debts
+€13,206
Tax, wage and social debts
-€17,086
Other debts
-€74
Accrued charges and deferred income
+€6,774
Investment (derived)
-€325,322
Investment in fixed assets (net)
-€325,322
Financing
-€438,197
Debts after one year
-€341,802
Current portion of long-term debt
-€93,353
Contributions, distributions and other
-€3,043
Cash 2025
€158,993
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,707,374 | €3,296,290 | -€411,084 | -11.1% |
| Fixed assets | 21/28 | €2,787,461 | €2,238,446 | -€549,015 | -19.7% |
| Tangible fixed assets | 22/27 | €2,287,461 | €1,735,446 | -€552,015 | -24.1% |
| Plant, machinery and equipment | 23 | €539,170 | €267,304 | -€271,866 | -50.4% |
| Furniture and vehicles | 24 | €477,005 | €354,023 | -€122,982 | -25.8% |
| Leasing and similar rights | 25 | €1,215,330 | €1,050,393 | -€164,937 | -13.6% |
| Other tangible fixed assets | 26 | €55,957 | €63,726 | +€7,769 | +13.9% |
| Financial fixed assets | 28 | €500,000 | €503,000 | +€3,000 | +0.6% |
| Current assets | 29/58 | €919,913 | €1,057,844 | +€137,931 | +15.0% |
| Stocks and contracts in progress | 3 | €94,500 | €367,885 | +€273,385 | +289.3% |
| Contracts in progress | 37 | €94,500 | €367,885 | +€273,385 | +289.3% |
| Amounts receivable within one year | 40/41 | €655,213 | €480,094 | -€175,119 | -26.7% |
| Trade receivables | 40 | €649,044 | €424,366 | -€224,678 | -34.6% |
| Other amounts receivable | 41 | €6,169 | €55,728 | +€49,559 | +803.4% |
| Cash at bank and in hand | 54/58 | €126,579 | €158,993 | +€32,413 | +25.6% |
| Deferred charges and accrued income | 490/1 | €43,621 | €50,873 | +€7,252 | +16.6% |
| Total equity and liabilities | 10/49 | €3,707,374 | €3,296,290 | -€411,084 | -11.1% |
| Equity | 10/15 | €1,301,792 | €1,323,044 | +€21,252 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,254,158 | €1,304,361 | +€50,203 | +4.0% |
| Distributable reserves | 133 | €1,254,158 | €1,304,361 | +€50,203 | +4.0% |
| Profit (loss) carried forward | 14 | €25,909 | €0 | -€25,909 | -100.0% |
| Investment grants | 15 | €3,125 | €83 | -€3,043 | -97.4% |
| Amounts payable | 17/49 | €2,405,582 | €1,973,247 | -€432,335 | -18.0% |
| Amounts payable after more than one year | 17 | €1,516,744 | €1,174,942 | -€341,802 | -22.5% |
| Financial debts | 170/4 | €1,499,978 | €1,157,019 | -€342,959 | -22.9% |
| Other amounts payable | 178/9 | €16,767 | €17,923 | +€1,156 | +6.9% |
| Amounts payable within one year | 42/48 | €886,948 | €789,641 | -€97,307 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €663,351 | €569,999 | -€93,353 | -14.1% |
| Trade debts | 44 | €152,172 | €165,378 | +€13,206 | +8.7% |
| Suppliers | 440/4 | €152,172 | €165,378 | +€13,206 | +8.7% |
| Taxes, remuneration and social security | 45 | €70,491 | €53,405 | -€17,086 | -24.2% |
| Taxes | 450/3 | €400 | €368 | -€32 | -7.9% |
| Remuneration and social security | 454/9 | €70,091 | €53,037 | -€17,054 | -24.3% |
| Other amounts payable | 47/48 | €934 | €859 | -€74 | -8.0% |
| Accrued charges and deferred income | 492/3 | €1,890 | €8,664 | +€6,774 | +358.5% |
| Remuneration, social security and pensions | 62 | €742,120 | €842,079 | +€99,959 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €900,387 | €874,337 | -€26,050 | -2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,455 | €0 | +€10,455 | |
| Other operating charges | 640/8 | €20,956 | €23,507 | +€2,551 | +12.2% |
| Non-recurring operating charges | 66A | €2,444 | €0 | -€2,444 | -100.0% |
| Gross operating margin | 9900 | €1,882,829 | €1,806,957 | -€75,872 | -4.0% |
| Operating profit (loss) | 9901 | €227,378 | €67,035 | -€160,343 | -70.5% |
| Financial income | 75/76B | €9,656 | €19,825 | +€10,168 | +105.3% |
| Recurring financial income | 75 | €9,656 | €19,825 | +€10,168 | +105.3% |
| Financial charges | 65/66B | €73,548 | €60,396 | -€13,152 | -17.9% |
| Recurring financial charges | 65 | €73,548 | €60,396 | -€13,152 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €163,487 | €26,464 | -€137,022 | -83.8% |
| Income taxes | 67/77 | €37,578 | €2,170 | -€35,408 | -94.2% |
| Profit (loss) for the period | 9904 | €125,909 | €24,294 | -€101,615 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €125,909 | €24,294 | -€101,615 | -80.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.