Skov: 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.
Skov
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+530.1%), from €396,755 to €2.5m
- Revaluation surpluses +€2.1m
new in 2025: €2.1m
- Depreciation -€3,548
down €3,548 (-15.2%), from €23,266 to €19,718
- Gross operating margin -€593
down €593 (-28.4%), from €2,086 to €1,493
- Other operating charges +€111
up €111 (+3.0%), from €3,737 to €3,849
- Financial charges +€102
up €102 (+33.7%), from €302 to €403
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €569,298 | €2,665,899 | +€2.1m | +368.3% |
| Fixed assets | 21/28 | €396,755 | €2,500,000 | +€2.1m | +530.1% |
| Tangible fixed assets | 22/27 | €396,755 | €2,500,000 | +€2.1m | +530.1% |
| Land and buildings | 22 | €396,755 | €2,500,000 | +€2.1m | +530.1% |
| Current assets | 29/58 | €172,543 | €165,899 | -€6,644 | -3.9% |
| Cash at bank and in hand | 54/58 | €172,365 | €153,721 | -€18,644 | -10.8% |
| Deferred charges and accrued income | 490/1 | €178 | €12,179 | +€12,000 | +6733.8% |
| Total equity and liabilities | 10/49 | €569,298 | €2,665,899 | +€2.1m | +368.3% |
| Equity | 10/15 | €553,022 | €2,650,914 | +€2.1m | +379.4% |
| Contributions | 10/11 | €171,393 | €171,393 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,118,962 | +€2.1m | |
| Reserves | 13 | €336,113 | €331,892 | -€4,222 | -1.3% |
| Tax-exempt reserves | 132 | €311,120 | €306,898 | -€4,222 | -1.4% |
| Distributable reserves | 133 | €24,993 | €24,993 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,515 | €28,667 | -€16,848 | -37.0% |
| Provisions and deferred taxes | 16 | €12,459 | €11,052 | -€1,407 | -11.3% |
| Deferred taxes | 168 | €12,459 | €11,052 | -€1,407 | -11.3% |
| Amounts payable | 17/49 | €3,817 | €3,934 | +€117 | +3.1% |
| Amounts payable within one year | 42/48 | €3,817 | €3,934 | +€117 | +3.1% |
| Trade debts | 44 | €3,817 | €3,934 | +€117 | +3.1% |
| Suppliers | 440/4 | €3,817 | €3,934 | +€117 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,266 | €19,718 | -€3,548 | -15.2% |
| Other operating charges | 640/8 | €3,737 | €3,849 | +€111 | +3.0% |
| Gross operating margin | 9900 | €2,086 | €1,493 | -€593 | -28.4% |
| Operating profit (loss) | 9901 | -€24,917 | -€22,074 | +€2,843 | +11.4% |
| Financial charges | 65/66B | €302 | €403 | +€102 | +33.7% |
| Recurring financial charges | 65 | €302 | €403 | +€102 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | -€25,219 | -€22,477 | +€2,742 | +10.9% |
| Transfer from deferred taxes | 780 | €1,407 | €1,407 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€23,812 | -€21,070 | +€2,742 | +11.5% |
| Transfer from tax-exempt reserves | 789 | €4,222 | €4,222 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,590 | -€16,848 | +€2,742 | +14.0% |
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 4 October 2026 via checked.be.