BELGIAN DISTRIBUTION GROUP: 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
BELGIAN DISTRIBUTION GROUP
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,294
2024 · -€10,644+€14,938
Equity
€512,976
2024 · €508,682+€4,294
Cash
€6,555
2024 · €1.3m-€1.3m
Balance sheet total
€6.2m
2024 · €11.3m-€5.1m
Largest movements
Assets
- Receivables within one year -€3.8m
down €3.8m (-59.2%), from €6.3m to €2.6m
of which Trade receivables: -€4.0m
- Cash -€1.3m
down €1.3m (-99.5%), from €1.3m to €6,555
mainly Other debts (-€4.5m) and Trade debts (-€601,102)
Equity and liabilities
- Other debts -€4.5m
down €4.5m (-78.0%), from €5.8m to €1.3m
- Trade debts -€601,102
down €601,102 (-71.8%), from €837,625 to €236,523
- Current portion of long-term debt +€123,590
up €123,590 (+6.1%), from €2.0m to €2.2m
Income statement
- Turnover -€240,668
down €240,668 (-10.1%), from €2.4m to €2.1m
- Staff costs -€146,933
down €146,933 (-61.9%), from €237,473 to €90,540
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
-€10,644
Turnover
-€240,668
Other operating income
-€6,523
Services and other goods
+€8,188
Staff costs
+€146,933
Other operating charges
-€427
Other operating items
+€119,257
Financial income
+€26
Financial charges
-€10,389
Taxes
-€1,459
Result 2025
€4,294
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
-€1.5m
Investment
€0
Financing
+€123,590
Cash 2024
€1.3m
From operations (derived)
-€1.5m
Net result for the year
+€4,294
Receivables within one year
+€3.8m
Deferred charges and accrued income
-€12,889
Trade debts
-€601,102
Tax, wage and social debts
-€87,251
Other debts
-€4.5m
Financing
+€123,590
Current portion of long-term debt
+€123,590
Cash 2025
€6,555
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,281,278 | €6,206,016 | -€5.1m | -45.0% |
| Fixed assets | 21/28 | €3,588,018 | €3,588,018 | = | 0.0% |
| Financial fixed assets | 28 | €3,588,018 | €3,588,018 | = | 0.0% |
| Affiliated companies | 280/1 | €3,588,018 | €3,588,018 | = | 0.0% |
| Participating interests | 280 | €3,588,018 | €3,588,018 | = | 0.0% |
| Current assets | 29/58 | €7,693,260 | €2,617,998 | -€5.1m | -66.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €6,347,188 | €2,587,138 | -€3.8m | -59.2% |
| Trade receivables | 40 | €6,097,550 | €2,134,341 | -€4.0m | -65.0% |
| Other amounts receivable | 41 | €249,638 | €452,798 | +€203,159 | +81.4% |
| Cash at bank and in hand | 54/58 | €1,334,655 | €6,555 | -€1.3m | -99.5% |
| Deferred charges and accrued income | 490/1 | €11,416 | €24,305 | +€12,889 | +113% |
| Total equity and liabilities | 10/49 | €11,281,278 | €6,206,016 | -€5.1m | -45.0% |
| Equity | 10/15 | €508,682 | €512,976 | +€4,294 | +0.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €1,657 | €1,872 | +€215 | +13.0% |
| Non-distributable reserves | 130/1 | €1,657 | €1,872 | +€215 | +13.0% |
| Legal reserve | 130 | €1,657 | €1,872 | +€215 | +13.0% |
| Profit (loss) carried forward | 14 | €7,025 | €11,104 | +€4,079 | +58.1% |
| Amounts payable | 17/49 | €10,772,596 | €5,693,040 | -€5.1m | -47.2% |
| Amounts payable after more than one year | 17 | €2,000,000 | €2,000,000 | = | 0.0% |
| Financial debts | 170/4 | €2,000,000 | €2,000,000 | = | 0.0% |
| Other loans | 174 | €2,000,000 | €2,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,772,596 | €3,693,040 | -€5.1m | -57.9% |
| Current portion of amounts payable after more than one year | 42 | €2,037,227 | €2,160,817 | +€123,590 | +6.1% |
| Trade debts | 44 | €837,625 | €236,523 | -€601,102 | -71.8% |
| Suppliers | 440/4 | €837,625 | €236,523 | -€601,102 | -71.8% |
| Taxes, remuneration and social security | 45 | €108,592 | €21,340 | -€87,251 | -80.3% |
| Taxes | 450/3 | €45,037 | €8,131 | -€36,906 | -81.9% |
| Remuneration and social security | 454/9 | €63,555 | €13,209 | -€50,346 | -79.2% |
| Other amounts payable | 47/48 | €5,789,153 | €1,274,361 | -€4.5m | -78.0% |
| Operating income | 70/76A | €2,386,982 | €2,144,897 | -€242,085 | -10.1% |
| Turnover | 70 | €2,375,008 | €2,134,341 | -€240,668 | -10.1% |
| Other operating income | 74 | €11,974 | €5,450 | -€6,523 | -54.5% |
| Non-recurring operating income | 76A | - | €5,106 | +€5,106 | |
| Operating charges | 60/66A | €2,166,363 | €1,897,517 | -€268,846 | -12.4% |
| Services and other goods | 61 | €1,814,552 | €1,806,364 | -€8,188 | -0.5% |
| Remuneration, social security and pensions | 62 | €237,473 | €90,540 | -€146,933 | -61.9% |
| Other operating charges | 640/8 | €186 | €613 | +€427 | +230% |
| Non-recurring operating charges | 66A | €114,151 | - | -€114,151 | |
| Operating profit (loss) | 9901 | €220,619 | €247,380 | +€26,761 | +12.1% |
| Financial income | 75/76B | €0 | €26 | +€26 | |
| Recurring financial income | 75 | €0 | €26 | +€26 | |
| Other financial income | 752/9 | €0 | €26 | +€26 | |
| Financial charges | 65/66B | €223,354 | €233,744 | +€10,389 | +4.7% |
| Recurring financial charges | 65 | €223,354 | €233,744 | +€10,389 | +4.7% |
| Debt charges | 650 | €222,287 | €232,774 | +€10,487 | +4.7% |
| Other financial charges | 652/9 | €1,068 | €970 | -€98 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,735 | €13,663 | +€16,398 | |
| Income taxes | 67/77 | €7,909 | €9,369 | +€1,459 | +18.5% |
| Taxes | 670/3 | €7,909 | €9,369 | +€1,459 | +18.5% |
| Profit (loss) for the period | 9904 | -€10,644 | €4,294 | +€14,938 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,644 | €4,294 | +€14,938 |
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 18 October 2026 via checked.be.