TECH-WOOD: 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
TECH-WOOD
NACE 16.110, Sawmilling and planing of wood
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€38,079
2024 · -€34,795-€3,284
Equity
€859,104
2024 · €897,183-€38,079
Cash
€19,007
2024 · €14,124+€4,882
Balance sheet total
€1.6m
2024 · €1.8m-€138,294
Largest movements
Assets
- Tangible fixed assets -€239,341
down €239,341 (-17.7%), from €1.4m to €1.1m
of which Plant, machinery and equipment: -€184,326
- Receivables within one year +€62,051
up €62,051 (+17.1%), from €362,091 to €424,142
of which Trade receivables: +€125,007
- Deferred charges and accrued income +€37,485
up €37,485 (+341%), from €11,000 to €48,485
Equity and liabilities
- Debts after one year -€147,048
down €147,048 (-51.3%), from €286,425 to €139,377
- Profit (loss) carried forward -€36,310
down €36,310 (-22.0%), from €165,415 to €129,105
- Trade debts +€34,700
up €34,700 (+43.5%), from €79,679 to €114,378
Income statement
- Staff costs +€58,857
up €58,857 (+49.8%), from €118,137 to €176,994
- Gross operating margin +€34,572
up €34,572 (+8.7%), from €398,918 to €433,490
- Depreciation -€13,013
down €13,013 (-4.5%), from €289,309 to €276,296
- Financial charges -€10,441
down €10,441 (-50.2%), from €20,800 to €10,359
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
-€34,795
Gross operating margin
+€34,572
Staff costs
-€58,857
Depreciation
+€13,013
Other operating charges
+€68
Other operating items
-€2,500
Financial income
-€21
Financial charges
+€10,441
Result 2025
-€38,079
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
+€189,643
Investment
-€36,955
Financing
-€147,806
Cash 2024
€14,124
From operations (derived)
+€189,643
Net result for the year
-€38,079
Depreciation
+€276,296
Stocks and contracts
+€3,371
Receivables within one year
-€62,051
Deferred charges and accrued income
-€37,485
Provisions
-€590
Trade debts
+€34,700
Tax, wage and social debts
+€17,171
Accrued charges and deferred income
-€3,690
Investment (derived)
-€36,955
Investment in fixed assets (net)
-€36,955
Financing
-€147,806
Debts after one year
-€147,048
Current portion of long-term debt
+€3,313
Short-term financial debts
-€4,070
Cash 2025
€19,007
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,757,660 | €1,619,366 | -€138,294 | -7.9% |
| Fixed assets | 21/28 | €1,352,799 | €1,113,458 | -€239,341 | -17.7% |
| Tangible fixed assets | 22/27 | €1,352,799 | €1,113,458 | -€239,341 | -17.7% |
| Plant, machinery and equipment | 23 | €804,051 | €619,725 | -€184,326 | -22.9% |
| Furniture and vehicles | 24 | €140,003 | €119,706 | -€20,297 | -14.5% |
| Other tangible fixed assets | 26 | €408,745 | €374,027 | -€34,718 | -8.5% |
| Current assets | 29/58 | €404,860 | €505,908 | +€101,047 | +25.0% |
| Stocks and contracts in progress | 3 | €17,645 | €14,274 | -€3,371 | -19.1% |
| Stocks | 30/36 | €17,645 | €14,274 | -€3,371 | -19.1% |
| Amounts receivable within one year | 40/41 | €362,091 | €424,142 | +€62,051 | +17.1% |
| Trade receivables | 40 | €296,738 | €421,746 | +€125,007 | +42.1% |
| Other amounts receivable | 41 | €65,353 | €2,396 | -€62,956 | -96.3% |
| Cash at bank and in hand | 54/58 | €14,124 | €19,007 | +€4,882 | +34.6% |
| Deferred charges and accrued income | 490/1 | €11,000 | €48,485 | +€37,485 | +341% |
| Total equity and liabilities | 10/49 | €1,757,660 | €1,619,366 | -€138,294 | -7.9% |
| Equity | 10/15 | €897,183 | €859,104 | -€38,079 | -4.2% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €131,768 | €129,999 | -€1,769 | -1.3% |
| Tax-exempt reserves | 132 | €27,874 | €26,105 | -€1,769 | -6.3% |
| Distributable reserves | 133 | €103,894 | €103,894 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,415 | €129,105 | -€36,310 | -22.0% |
| Provisions and deferred taxes | 16 | €9,291 | €8,702 | -€590 | -6.3% |
| Deferred taxes | 168 | €9,291 | €8,702 | -€590 | -6.3% |
| Amounts payable | 17/49 | €851,186 | €751,560 | -€99,625 | -11.7% |
| Amounts payable after more than one year | 17 | €286,425 | €139,377 | -€147,048 | -51.3% |
| Financial debts | 170/4 | €286,425 | €139,377 | -€147,048 | -51.3% |
| Amounts payable within one year | 42/48 | €538,021 | €589,134 | +€51,113 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €143,736 | €147,048 | +€3,313 | +2.3% |
| Financial debts | 43 | €4,070 | €0 | -€4,070 | -100% |
| Credit institutions | 430/8 | €4,070 | €0 | -€4,070 | -100% |
| Trade debts | 44 | €79,679 | €114,378 | +€34,700 | +43.5% |
| Suppliers | 440/4 | €79,679 | €114,378 | +€34,700 | +43.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €15,536 | €32,707 | +€17,171 | +111% |
| Taxes | 450/3 | €2,005 | €8,448 | +€6,443 | +321% |
| Remuneration and social security | 454/9 | €13,532 | €24,259 | +€10,728 | +79.3% |
| Other amounts payable | 47/48 | €295,000 | €295,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €26,740 | €23,050 | -€3,690 | -13.8% |
| Non-recurring operating income | 76A | €12,345 | €0 | -€12,345 | -100% |
| Remuneration, social security and pensions | 62 | €118,137 | €176,994 | +€58,857 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289,309 | €276,296 | -€13,013 | -4.5% |
| Other operating charges | 640/8 | €6,078 | €6,009 | -€68 | -1.1% |
| Non-recurring operating charges | 66A | - | €2,500 | +€2,500 | |
| Gross operating margin | 9900 | €398,918 | €433,490 | +€34,572 | +8.7% |
| Operating profit (loss) | 9901 | -€14,606 | -€28,310 | -€13,704 | -93.8% |
| Financial income | 75/76B | €21 | €0 | -€21 | -100% |
| Recurring financial income | 75 | €21 | €0 | -€21 | -100% |
| Financial charges | 65/66B | €20,800 | €10,359 | -€10,441 | -50.2% |
| Recurring financial charges | 65 | €20,800 | €10,359 | -€10,441 | -50.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,384 | -€38,669 | -€3,284 | -9.3% |
| Transfer from deferred taxes | 780 | €590 | €590 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€34,795 | -€38,079 | -€3,284 | -9.4% |
| Transfer from tax-exempt reserves | 789 | €1,769 | €1,769 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,026 | -€36,310 | -€3,284 | -9.9% |
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 17 October 2026 via checked.be.