CTC Distributions: 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.
CTC Distributions
Largest movements
- Receivables within one year +€436,925
up €436,925 (+61.3%), from €712,611 to €1.1m
of which Other amounts receivable: +€449,136
- Deferred charges and accrued income -€71,974
down €71,974 (-56.2%), from €127,991 to €56,016
- Cash -€62,049
down €62,049 (-59.1%), from €105,003 to €42,954
mainly Receivables within one year (-€436,925) and Tax, wage and social debts (-€68,783)
- Intangible fixed assets -€28,811
down €28,811 (-31.3%), from €91,932 to €63,121
- Trade debts +€178,529
up €178,529 (+98.6%), from €181,121 to €359,650
- Advances received +€118,546
up €118,546 (+862.9%), from €13,737 to €132,283
- Tax, wage and social debts -€68,783
down €68,783 (-49.0%), from €140,319 to €71,536
of which Remuneration and social security: -€42,092
- Profit (loss) carried forward +€66,206
up €66,206 (+5838.8%), from €1,134 to €67,340
- Contributions -€18,750
no longer reported in 2025 (was €18,750)
- Staff costs -€168,910
down €168,910 (-17.9%), from €942,360 to €773,450
- Depreciation +€33,754
up €33,754 (+138.3%), from €24,401 to €58,155
- Gross operating margin -€29,151
down €29,151 (-3.0%), from €961,122 to €931,971
- Financial income +€10,605
new in 2025: €10,605
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 | €1,056,907 | €1,336,609 | +€279,703 | +26.5% |
| Fixed assets | 21/28 | €111,302 | €88,103 | -€23,198 | -20.8% |
| Intangible fixed assets | 21 | €91,932 | €63,121 | -€28,811 | -31.3% |
| Tangible fixed assets | 22/27 | €12,370 | €16,962 | +€4,593 | +37.1% |
| Land and buildings | 22 | €4,209 | €3,650 | -€559 | -13.3% |
| Furniture and vehicles | 24 | €4,373 | €13,312 | +€8,939 | +204.4% |
| Leasing and similar rights | 25 | €3,787 | - | -€3,787 | |
| Financial fixed assets | 28 | €7,000 | €8,020 | +€1,020 | +14.6% |
| Current assets | 29/58 | €945,605 | €1,248,506 | +€302,901 | +32.0% |
| Amounts receivable within one year | 40/41 | €712,611 | €1,149,536 | +€436,925 | +61.3% |
| Trade receivables | 40 | €42,162 | €29,950 | -€12,212 | -29.0% |
| Other amounts receivable | 41 | €670,449 | €1,119,585 | +€449,136 | +67.0% |
| Cash at bank and in hand | 54/58 | €105,003 | €42,954 | -€62,049 | -59.1% |
| Deferred charges and accrued income | 490/1 | €127,991 | €56,016 | -€71,974 | -56.2% |
| Total equity and liabilities | 10/49 | €1,056,907 | €1,336,609 | +€279,703 | +26.5% |
| Equity | 10/15 | €557,638 | €623,843 | +€66,206 | +11.9% |
| Contributions | 10/11 | €18,750 | - | -€18,750 | |
| Outside capital | 11 | €18,750 | - | -€18,750 | |
| Other | 1109/19 | €18,750 | - | -€18,750 | |
| Reserves | 13 | €537,754 | €556,504 | +€18,750 | +3.5% |
| Non-distributable reserves | 130/1 | €1,875 | - | -€1,875 | |
| Reserves not available under the articles | 1311 | €1,875 | - | -€1,875 | |
| Tax-exempt reserves | 132 | €51,429 | €51,429 | = | 0.0% |
| Distributable reserves | 133 | €484,450 | €505,075 | +€20,625 | +4.3% |
| Profit (loss) carried forward | 14 | €1,134 | €67,340 | +€66,206 | +5838.8% |
| Amounts payable | 17/49 | €499,269 | €712,766 | +€213,497 | +42.8% |
| Amounts payable after more than one year | 17 | €3,250 | €3,250 | = | 0.0% |
| Other amounts payable | 178/9 | €3,250 | €3,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €461,741 | €682,320 | +€220,579 | +47.8% |
| Current portion of amounts payable after more than one year | 42 | €126,564 | €118,851 | -€7,713 | -6.1% |
| Trade debts | 44 | €181,121 | €359,650 | +€178,529 | +98.6% |
| Suppliers | 440/4 | €181,121 | €359,650 | +€178,529 | +98.6% |
| Advances received on contracts in progress | 46 | €13,737 | €132,283 | +€118,546 | +862.9% |
| Taxes, remuneration and social security | 45 | €140,319 | €71,536 | -€68,783 | -49.0% |
| Taxes | 450/3 | €28,012 | €1,322 | -€26,691 | -95.3% |
| Remuneration and social security | 454/9 | €112,307 | €70,215 | -€42,092 | -37.5% |
| Accrued charges and deferred income | 492/3 | €34,277 | €27,196 | -€7,082 | -20.7% |
| Remuneration, social security and pensions | 62 | €942,360 | €773,450 | -€168,910 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,401 | €58,155 | +€33,754 | +138.3% |
| Other operating charges | 640/8 | €1,617 | €3,664 | +€2,047 | +126.7% |
| Non-recurring operating charges | 66A | - | €3,099 | +€3,099 | |
| Gross operating margin | 9900 | €961,122 | €931,971 | -€29,151 | -3.0% |
| Operating profit (loss) | 9901 | -€7,255 | €93,604 | +€100,859 | |
| Financial income | 75/76B | - | €10,605 | +€10,605 | |
| Recurring financial income | 75 | - | €10,605 | +€10,605 | |
| Financial charges | 65/66B | €41,439 | €36,786 | -€4,653 | -11.2% |
| Recurring financial charges | 65 | €41,439 | €36,786 | -€4,653 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€48,694 | €67,423 | +€116,117 | |
| Income taxes | 67/77 | €1,135 | €1,217 | +€82 | +7.2% |
| Profit (loss) for the period | 9904 | -€49,829 | €66,206 | +€116,035 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,829 | €66,206 | +€116,035 |
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 8 October 2026 via checked.be.