CN 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.
CN DISTRIBUTION
Largest movements
- Tangible fixed assets +€254,986
up €254,986 (+524.4%), from €48,620 to €303,606
of which Land and buildings: +€259,525
- Current investments +€150,000
new in 2023: €150,000
- Receivables within one year +€79,786
up €79,786 (+22.6%), from €353,040 to €432,826
of which Trade receivables: +€78,684
- Cash +€27,483
up €27,483 (+13.9%), from €197,635 to €225,118
mainly Net result for the year (+€192,402) and Debts after one year (+€173,985)
- Reserves +€192,402
up €192,402 (+50.3%), from €382,503 to €574,906
of which Distributable reserves: +€192,402
- Debts after one year +€173,985
up €173,985 (+1071.9%), from €16,232 to €190,217
- Trade debts +€106,749
up €106,749 (+108.0%), from €98,831 to €205,580
- Tax, wage and social debts +€27,120
up €27,120 (+33.3%), from €81,513 to €108,633
- Current portion of long-term debt +€11,998
up €11,998 (+85.6%), from €14,017 to €26,015
- Gross operating margin +€136,608
up €136,608 (+68.9%), from €198,287 to €334,895
- Taxes +€38,050
up €38,050 (+71.5%), from €53,195 to €91,244
- Depreciation +€28,466
up €28,466 (+171.3%), from €16,621 to €45,087
- Financial charges +€4,554
up €4,554 (+289.5%), from €1,573 to €6,127
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €599,296 | €1,111,550 | +€512,254 | +85.5% |
| Fixed assets | 21/28 | €48,620 | €303,606 | +€254,986 | +524.4% |
| Tangible fixed assets | 22/27 | €48,620 | €303,606 | +€254,986 | +524.4% |
| Land and buildings | 22 | - | €259,525 | +€259,525 | |
| Plant, machinery and equipment | 23 | €18,850 | €20,761 | +€1,911 | +10.1% |
| Furniture and vehicles | 24 | €29,770 | €23,320 | -€6,450 | -21.7% |
| Current assets | 29/58 | €550,676 | €807,944 | +€257,269 | +46.7% |
| Amounts receivable within one year | 40/41 | €353,040 | €432,826 | +€79,786 | +22.6% |
| Trade receivables | 40 | €48,840 | €127,524 | +€78,684 | +161.1% |
| Other amounts receivable | 41 | €304,200 | €305,302 | +€1,102 | +0.4% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €197,635 | €225,118 | +€27,483 | +13.9% |
| Total equity and liabilities | 10/49 | €599,296 | €1,111,550 | +€512,254 | +85.5% |
| Equity | 10/15 | €388,703 | €581,106 | +€192,402 | +49.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €382,503 | €574,906 | +€192,402 | +50.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €21,513 | €21,513 | = | 0.0% |
| Distributable reserves | 133 | €359,130 | €551,533 | +€192,402 | +53.6% |
| Amounts payable | 17/49 | €210,593 | €530,445 | +€319,852 | +151.9% |
| Amounts payable after more than one year | 17 | €16,232 | €190,217 | +€173,985 | +1071.9% |
| Financial debts | 170/4 | €16,232 | €190,217 | +€173,985 | +1071.9% |
| Amounts payable within one year | 42/48 | €194,361 | €340,228 | +€145,867 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €14,017 | €26,015 | +€11,998 | +85.6% |
| Trade debts | 44 | €98,831 | €205,580 | +€106,749 | +108.0% |
| Suppliers | 440/4 | €98,831 | €205,580 | +€106,749 | +108.0% |
| Taxes, remuneration and social security | 45 | €81,513 | €108,633 | +€27,120 | +33.3% |
| Taxes | 450/3 | €81,513 | €108,633 | +€27,120 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,621 | €45,087 | +€28,466 | +171.3% |
| Other operating charges | 640/8 | €2,057 | €2,300 | +€244 | +11.8% |
| Non-recurring operating charges | 66A | €6,903 | €144 | -€6,759 | -97.9% |
| Gross operating margin | 9900 | €198,287 | €334,895 | +€136,608 | +68.9% |
| Operating profit (loss) | 9901 | €172,706 | €287,364 | +€114,657 | +66.4% |
| Financial income | 75/76B | €53 | €2,410 | +€2,356 | +4425.9% |
| Recurring financial income | 75 | €53 | €2,410 | +€2,356 | +4425.9% |
| Financial charges | 65/66B | €1,573 | €6,127 | +€4,554 | +289.5% |
| Recurring financial charges | 65 | €1,573 | €6,127 | +€4,554 | +289.5% |
| Profit (loss) for the period before taxes | 9903 | €171,187 | €283,647 | +€112,460 | +65.7% |
| Income taxes | 67/77 | €53,195 | €91,244 | +€38,050 | +71.5% |
| Profit (loss) for the period | 9904 | €117,992 | €192,402 | +€74,410 | +63.1% |
| Profit (loss) for the period to be appropriated | 9905 | €117,992 | €192,402 | +€74,410 | +63.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.