B2B Distribution: 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.
B2B Distribution
Largest movements
- Receivables within one year +€233,801
up €233,801 (+70.9%), from €329,768 to €563,570
of which Trade receivables: +€152,934
- Cash +€18,334
up €18,334 (+23.4%), from €78,255 to €96,589
mainly Accrued charges and deferred income (+€74,650) and Net result for the year (+€74,119)
- Accrued charges and deferred income +€74,650
new in 2025: €74,650
- Reserves +€74,119
up €74,119 (+118.1%), from €62,741 to €136,860
- Tax, wage and social debts +€60,599
up €60,599 (+56.3%), from €107,591 to €168,190
of which Taxes: +€40,102
- Trade debts +€49,441
up €49,441 (+15.5%), from €319,191 to €368,633
- Gross operating margin +€194,549
up €194,549 (+58.9%), from €330,134 to €524,683
- Staff costs +€124,497
up €124,497 (+55.1%), from €225,809 to €350,305
- Taxes +€29,504
up €29,504 (+225.0%), from €13,115 to €42,619
- Other operating charges -€23,620
down €23,620 (-31.4%), from €75,320 to €51,700
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 | €500,340 | €758,992 | +€258,652 | +51.7% |
| Fixed assets | 21/28 | €91,500 | €93,795 | +€2,295 | +2.5% |
| Financial fixed assets | 28 | €91,500 | €93,795 | +€2,295 | +2.5% |
| Current assets | 29/58 | €408,840 | €665,197 | +€256,357 | +62.7% |
| Amounts receivable within one year | 40/41 | €329,768 | €563,570 | +€233,801 | +70.9% |
| Trade receivables | 40 | €224,044 | €376,978 | +€152,934 | +68.3% |
| Other amounts receivable | 41 | €105,725 | €186,592 | +€80,867 | +76.5% |
| Cash at bank and in hand | 54/58 | €78,255 | €96,589 | +€18,334 | +23.4% |
| Deferred charges and accrued income | 490/1 | €817 | €5,039 | +€4,222 | +516.9% |
| Total equity and liabilities | 10/49 | €500,340 | €758,992 | +€258,652 | +51.7% |
| Equity | 10/15 | €72,263 | €146,382 | +€74,119 | +102.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Outside capital | 11 | €4,000 | €4,000 | = | 0.0% |
| Share premium | 1100/10 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €62,741 | €136,860 | +€74,119 | +118.1% |
| Distributable reserves | 133 | €62,741 | €136,860 | +€74,119 | +118.1% |
| Profit (loss) carried forward | 14 | €5,522 | €5,522 | = | 0.0% |
| Amounts payable | 17/49 | €428,078 | €612,610 | +€184,533 | +43.1% |
| Amounts payable within one year | 42/48 | €428,078 | €537,960 | +€109,883 | +25.7% |
| Trade debts | 44 | €319,191 | €368,633 | +€49,441 | +15.5% |
| Suppliers | 440/4 | €319,191 | €368,633 | +€49,441 | +15.5% |
| Taxes, remuneration and social security | 45 | €107,591 | €168,190 | +€60,599 | +56.3% |
| Taxes | 450/3 | €81,447 | €121,549 | +€40,102 | +49.2% |
| Remuneration and social security | 454/9 | €26,144 | €46,641 | +€20,497 | +78.4% |
| Other amounts payable | 47/48 | €1,295 | €1,138 | -€158 | -12.2% |
| Accrued charges and deferred income | 492/3 | - | €74,650 | +€74,650 | |
| Remuneration, social security and pensions | 62 | €225,809 | €350,305 | +€124,497 | +55.1% |
| Other operating charges | 640/8 | €75,320 | €51,700 | -€23,620 | -31.4% |
| Gross operating margin | 9900 | €330,134 | €524,683 | +€194,549 | +58.9% |
| Operating profit (loss) | 9901 | €29,006 | €122,677 | +€93,672 | +322.9% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €4,152 | €5,939 | +€1,788 | +43.1% |
| Recurring financial charges | 65 | €4,152 | €5,939 | +€1,788 | +43.1% |
| Profit (loss) for the period before taxes | 9903 | €24,856 | €116,738 | +€91,882 | +369.7% |
| Income taxes | 67/77 | €13,115 | €42,619 | +€29,504 | +225.0% |
| Profit (loss) for the period | 9904 | €11,741 | €74,119 | +€62,378 | +531.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,741 | €74,119 | +€62,378 | +531.3% |
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 30 September 2026 via checked.be.