Russell Woods: what changed
What changed
Russell Woods
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€86,371
2024 · -€68,148+€154,519
Equity
€153,672
2024 · -€57,126+€210,798
Cash
€348,555
2024 · €38,713+€309,841
Balance sheet total
€789,464
2024 · €162,537+€626,927
Largest movements
Assets
- Receivables within one year +€326,341
up €326,341 (+648%), from €50,382 to €376,723
of which Trade receivables: +€323,196
- Cash +€309,841
up €309,841 (+800%), from €38,713 to €348,555
mainly Accrued charges and deferred income (+€303,308) and Trade debts (+€148,823)
- Intangible fixed assets -€8,261
down €8,261 (-12.5%), from €66,084 to €57,824
Equity and liabilities
- Accrued charges and deferred income +€303,308
new in 2025: €303,308
- Reserves +€167,746
new in 2025: €167,746
- Trade debts +€148,823
up €148,823 (+202%), from €73,612 to €222,435
- Other debts -€113,414
down €113,414 (-93.8%), from €120,916 to €7,502
- Advances received +€43,774
new in 2025: €43,774
Income statement
- Gross operating margin +€125,145
up €125,145, from -€14,501 to €110,644
- Staff costs -€44,620
down €44,620, from €40,128 to -€4,492
- Taxes +€14,540
up €14,540 (+6,048%), from €240 to €14,781
- Depreciation -€1,330
down €1,330 (-10.7%), from €12,371 to €11,041
- Other operating charges +€1,299
up €1,299 (+67.2%), from €1,933 to €3,231
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€68,148
Gross operating margin
+€125,145
Staff costs
+€44,620
Depreciation
+€1,330
Other operating charges
-€1,299
Financial income
-€1,290
Financial charges
+€554
Taxes
-€14,540
Result 2025
€86,371
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€147,593
Investment
-€3,251
Financing
+€165,499
Cash 2024
€38,713
From operations (derived)
+€147,593
Net result for the year
+€86,371
Depreciation
+€11,041
Receivables within one year
-€326,341
Deferred charges and accrued income
+€1,464
Trade debts
+€148,823
Tax, wage and social debts
-€7,434
Advances received
+€43,774
Other debts
-€113,414
Accrued charges and deferred income
+€303,308
Investment (derived)
-€3,251
Investment in fixed assets (net)
-€3,251
Financing
+€165,499
Debts after one year
+€41,072
Contributions, distributions and other
+€124,427
Cash 2025
€348,555
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €162,537 | €789,464 | +€626,927 | +386% |
| Fixed assets | 21/28 | €70,890 | €63,099 | -€7,791 | -11.0% |
| Intangible fixed assets | 21 | €66,084 | €57,824 | -€8,261 | -12.5% |
| Tangible fixed assets | 22/27 | €4,805 | €5,275 | +€470 | +9.8% |
| Land and buildings | 22 | €4,249 | €1,933 | -€2,315 | -54.5% |
| Plant, machinery and equipment | 23 | €557 | €278 | -€278 | -50.0% |
| Furniture and vehicles | 24 | €0 | €3,064 | +€3,064 | |
| Current assets | 29/58 | €91,648 | €726,365 | +€634,718 | +693% |
| Amounts receivable within one year | 40/41 | €50,382 | €376,723 | +€326,341 | +648% |
| Trade receivables | 40 | €50,312 | €373,508 | +€323,196 | +642% |
| Other amounts receivable | 41 | €70 | €3,215 | +€3,145 | +4,499% |
| Cash at bank and in hand | 54/58 | €38,713 | €348,555 | +€309,841 | +800% |
| Deferred charges and accrued income | 490/1 | €2,552 | €1,088 | -€1,464 | -57.4% |
| Total equity and liabilities | 10/49 | €162,537 | €789,464 | +€626,927 | +386% |
| Equity | 10/15 | -€57,126 | €153,672 | +€210,798 | |
| Contributions | 10/11 | €100 | €18,700 | +€18,600 | +18,600% |
| Reserves | 13 | - | €167,746 | +€167,746 | |
| Distributable reserves | 133 | - | €167,746 | +€167,746 | |
| Profit (loss) carried forward | 14 | -€57,226 | -€32,774 | +€24,452 | +42.7% |
| Amounts payable | 17/49 | €219,663 | €635,792 | +€416,129 | +189% |
| Amounts payable after more than one year | 17 | - | €41,072 | +€41,072 | |
| Financial debts | 170/4 | - | €41,072 | +€41,072 | |
| Amounts payable within one year | 42/48 | €219,663 | €291,412 | +€71,749 | +32.7% |
| Trade debts | 44 | €73,612 | €222,435 | +€148,823 | +202% |
| Suppliers | 440/4 | €73,612 | €222,435 | +€148,823 | +202% |
| Advances received on contracts in progress | 46 | - | €43,774 | +€43,774 | |
| Taxes, remuneration and social security | 45 | €25,135 | €17,701 | -€7,434 | -29.6% |
| Taxes | 450/3 | €20,867 | €17,701 | -€3,166 | -15.2% |
| Remuneration and social security | 454/9 | €4,268 | €0 | -€4,268 | -100% |
| Other amounts payable | 47/48 | €120,916 | €7,502 | -€113,414 | -93.8% |
| Accrued charges and deferred income | 492/3 | - | €303,308 | +€303,308 | |
| Non-recurring operating income | 76A | €4,103 | €0 | -€4,103 | -100% |
| Remuneration, social security and pensions | 62 | €40,128 | -€4,492 | -€44,620 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,371 | €11,041 | -€1,330 | -10.7% |
| Other operating charges | 640/8 | €1,933 | €3,231 | +€1,299 | +67.2% |
| Gross operating margin | 9900 | -€14,501 | €110,644 | +€125,145 | |
| Operating profit (loss) | 9901 | -€68,933 | €100,863 | +€169,796 | |
| Financial income | 75/76B | €3,264 | €1,973 | -€1,290 | -39.5% |
| Recurring financial income | 75 | €3,264 | €1,973 | -€1,290 | -39.5% |
| Financial charges | 65/66B | €2,238 | €1,685 | -€554 | -24.7% |
| Recurring financial charges | 65 | €2,238 | €1,685 | -€554 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | -€67,907 | €101,152 | +€169,059 | |
| Income taxes | 67/77 | €240 | €14,781 | +€14,540 | +6,048% |
| Profit (loss) for the period | 9904 | -€68,148 | €86,371 | +€154,519 | |
| Profit (loss) for the period to be appropriated | 9905 | -€68,148 | €86,371 | +€154,519 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.