TIMBERDRY: 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.
TIMBERDRY
Largest movements
- Receivables within one year +€424,401
new in 2025: €424,401
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Tangible fixed assets -€25,850
down €25,850 (-2.9%), from €883,021 to €857,171
- Other debts -€16,599
no longer reported in 2025 (was €16,599)
- Reserves +€15,148
up €15,148 (+4.2%), from €358,637 to €373,785
of which Distributable reserves: +€14,391
- Gross operating margin -€22,057
down €22,057 (-31.6%), from €69,827 to €47,771
- Depreciation -€17,500
down €17,500 (-40.4%), from €43,350 to €25,850
- Taxes -€1,664
down €1,664 (-23.0%), from €7,232 to €5,569
- Financial income -€1,606
down €1,606 (-36.3%), from €4,422 to €2,816
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 | €1,343,770 | €1,347,394 | +€3,624 | +0.3% |
| Fixed assets | 21/28 | €883,021 | €857,171 | -€25,850 | -2.9% |
| Tangible fixed assets | 22/27 | €883,021 | €857,171 | -€25,850 | -2.9% |
| Land and buildings | 22 | €883,021 | €857,171 | -€25,850 | -2.9% |
| Current assets | 29/58 | €460,749 | €490,223 | +€29,474 | +6.4% |
| Amounts receivable within one year | 40/41 | - | €424,401 | +€424,401 | |
| Other amounts receivable | 41 | - | €424,401 | +€424,401 | |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €57,654 | €64,901 | +€7,248 | +12.6% |
| Deferred charges and accrued income | 490/1 | €3,095 | €921 | -€2,175 | -70.3% |
| Total equity and liabilities | 10/49 | €1,343,770 | €1,347,394 | +€3,624 | +0.3% |
| Equity | 10/15 | €1,318,637 | €1,333,785 | +€15,148 | +1.1% |
| Contributions | 10/11 | €960,000 | €960,000 | = | 0.0% |
| Capital | 10 | €960,000 | €960,000 | = | 0.0% |
| Issued capital | 100 | €960,000 | €960,000 | = | 0.0% |
| Reserves | 13 | €358,637 | €373,785 | +€15,148 | +4.2% |
| Non-distributable reserves | 130/1 | €26,348 | €27,105 | +€757 | +2.9% |
| Legal reserve | 130 | €26,348 | €27,105 | +€757 | +2.9% |
| Tax-exempt reserves | 132 | €1,715 | €1,715 | = | 0.0% |
| Distributable reserves | 133 | €330,575 | €344,966 | +€14,391 | +4.4% |
| Amounts payable | 17/49 | €25,133 | €13,609 | -€11,525 | -45.9% |
| Amounts payable within one year | 42/48 | €25,133 | €13,609 | -€11,525 | -45.9% |
| Trade debts | 44 | €2,629 | €2,703 | +€74 | +2.8% |
| Suppliers | 440/4 | €2,629 | €2,703 | +€74 | +2.8% |
| Taxes, remuneration and social security | 45 | €5,906 | €10,906 | +€5,000 | +84.7% |
| Taxes | 450/3 | €5,906 | €10,906 | +€5,000 | +84.7% |
| Other amounts payable | 47/48 | €16,599 | - | -€16,599 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,350 | €25,850 | -€17,500 | -40.4% |
| Other operating charges | 640/8 | €3,847 | €3,945 | +€97 | +2.5% |
| Gross operating margin | 9900 | €69,827 | €47,771 | -€22,057 | -31.6% |
| Operating profit (loss) | 9901 | €22,630 | €17,976 | -€4,654 | -20.6% |
| Financial income | 75/76B | €4,422 | €2,816 | -€1,606 | -36.3% |
| Recurring financial income | 75 | €4,422 | €2,816 | -€1,606 | -36.3% |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €26,978 | €20,717 | -€6,261 | -23.2% |
| Income taxes | 67/77 | €7,232 | €5,569 | -€1,664 | -23.0% |
| Profit (loss) for the period | 9904 | €19,746 | €15,148 | -€4,598 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,746 | €15,148 | -€4,598 | -23.3% |
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 28 September 2026 via checked.be.