Timber Construct: 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.
Timber Construct
Largest movements
- Receivables within one year +€179,312
up €179,312 (+262.4%), from €68,332 to €247,644
of which Trade receivables: +€175,440
- Stocks and contracts +€43,417
up €43,417 (+226.3%), from €19,186 to €62,603
of which Stocks: +€32,567
- Cash +€27,608
up €27,608 (+181.6%), from €15,205 to €42,813
mainly Trade debts (+€220,218) and Net result for the year (+€52,416)
- Tangible fixed assets +€10,486
up €10,486 (+134.1%), from €7,819 to €18,305
of which Furniture and vehicles: +€5,484
- Receivables after one year +€10,343
up €10,343 (+101.8%), from €10,163 to €20,506
- Trade debts +€220,218
up €220,218 (+268.4%), from €82,055 to €302,273
- Profit (loss) carried forward +€52,416
up €52,416 (+387.0%), from €13,543 to €65,959
- Tax, wage and social debts +€20,784
up €20,784 (+375.3%), from €5,537 to €26,322
of which Taxes: +€17,811
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Gross operating margin +€67,978
up €67,978 (+292.2%), from €23,264 to €91,241
- Write-downs +€12,800
new in 2025: €12,800
- Taxes +€10,547
up €10,547 (+190.5%), from €5,537 to €16,084
- Depreciation +€3,622
up €3,622 (+259.6%), from €1,395 to €5,018
- Financial charges +€2,319
up €2,319 (+168.2%), from €1,378 to €3,697
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 | €126,136 | €411,654 | +€285,518 | +226.4% |
| Formation expenses | 20 | €1,692 | €1,295 | -€396 | -23.4% |
| Fixed assets | 21/28 | €7,819 | €34,363 | +€26,544 | +339.5% |
| Intangible fixed assets | 21 | - | €5,745 | +€5,745 | |
| Tangible fixed assets | 22/27 | €7,819 | €18,305 | +€10,486 | +134.1% |
| Plant, machinery and equipment | 23 | €3,189 | €8,191 | +€5,002 | +156.9% |
| Furniture and vehicles | 24 | €4,630 | €10,114 | +€5,484 | +118.4% |
| Financial fixed assets | 28 | - | €10,313 | +€10,313 | |
| Current assets | 29/58 | €116,625 | €375,995 | +€259,370 | +222.4% |
| Amounts receivable after more than one year | 29 | €10,163 | €20,506 | +€10,343 | +101.8% |
| Trade receivables | 290 | €10,163 | €20,506 | +€10,343 | +101.8% |
| Stocks and contracts in progress | 3 | €19,186 | €62,603 | +€43,417 | +226.3% |
| Stocks | 30/36 | €9,286 | €41,853 | +€32,567 | +350.7% |
| Contracts in progress | 37 | €9,900 | €20,750 | +€10,850 | +109.6% |
| Amounts receivable within one year | 40/41 | €68,332 | €247,644 | +€179,312 | +262.4% |
| Trade receivables | 40 | €50,761 | €226,201 | +€175,440 | +345.6% |
| Other amounts receivable | 41 | €17,571 | €21,442 | +€3,871 | +22.0% |
| Cash at bank and in hand | 54/58 | €15,205 | €42,813 | +€27,608 | +181.6% |
| Deferred charges and accrued income | 490/1 | €3,739 | €2,429 | -€1,310 | -35.0% |
| Total equity and liabilities | 10/49 | €126,136 | €411,654 | +€285,518 | +226.4% |
| Equity | 10/15 | €28,543 | €80,959 | +€52,416 | +183.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,543 | €65,959 | +€52,416 | +387.0% |
| Amounts payable | 17/49 | €97,592 | €330,694 | +€233,102 | +238.9% |
| Amounts payable within one year | 42/48 | €97,592 | €328,594 | +€231,002 | +236.7% |
| Trade debts | 44 | €82,055 | €302,273 | +€220,218 | +268.4% |
| Suppliers | 440/4 | €82,055 | €302,273 | +€220,218 | +268.4% |
| Taxes, remuneration and social security | 45 | €5,537 | €26,322 | +€20,784 | +375.3% |
| Taxes | 450/3 | €5,537 | €23,349 | +€17,811 | +321.7% |
| Remuneration and social security | 454/9 | - | €2,973 | +€2,973 | |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €2,100 | +€2,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,395 | €5,018 | +€3,622 | +259.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,800 | +€12,800 | |
| Other operating charges | 640/8 | €1,409 | €1,758 | +€349 | +24.8% |
| Gross operating margin | 9900 | €23,264 | €91,241 | +€67,978 | +292.2% |
| Operating profit (loss) | 9901 | €20,459 | €71,666 | +€51,207 | +250.3% |
| Financial income | 75/76B | €0 | €531 | +€531 | +5310900.0% |
| Recurring financial income | 75 | €0 | €531 | +€531 | +5310900.0% |
| Financial charges | 65/66B | €1,378 | €3,697 | +€2,319 | +168.2% |
| Recurring financial charges | 65 | €1,378 | €3,697 | +€2,319 | +168.2% |
| Profit (loss) for the period before taxes | 9903 | €19,081 | €68,500 | +€49,419 | +259.0% |
| Income taxes | 67/77 | €5,537 | €16,084 | +€10,547 | +190.5% |
| Profit (loss) for the period | 9904 | €13,543 | €52,416 | +€38,872 | +287.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,543 | €52,416 | +€38,872 | +287.0% |
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 29 September 2026 via checked.be.