CTL 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.
CTL DISTRIBUTION
Largest movements
- Cash +€127,361
up €127,361 (+61.6%), from €206,809 to €334,170
mainly Net result for the year (+€246,210) and Other debts (+€170,000)
- Deferred charges and accrued income +€24,541
up €24,541 (+256.6%), from €9,562 to €34,103
- Tangible fixed assets -€20,119
down €20,119 (-8.6%), from €233,080 to €212,961
of which Plant, machinery and equipment: -€19,577
- Receivables within one year +€19,313
up €19,313 (+7.3%), from €264,275 to €283,588
of which Other amounts receivable: +€18,428
- Stocks and contracts +€11,884
up €11,884 (+8.2%), from €144,377 to €156,261
- Other debts +€170,000
up €170,000 (+566.7%), from €30,000 to €200,000
- Reserves +€150,000
up €150,000 (+1875.0%), from €8,000 to €158,000
of which Distributable reserves: +€158,000
- Profit (loss) carried forward -€103,790
down €103,790 (-93.5%), from €111,027 to €7,237
- Accrued charges and deferred income -€75,129
down €75,129 (-87.2%), from €86,134 to €11,005
- Trade debts +€35,710
up €35,710 (+9.3%), from €385,082 to €420,792
- Gross operating margin +€216,543
up €216,543 (+65.4%), from €331,243 to €547,786
- Staff costs +€26,726
up €26,726 (+13.4%), from €199,972 to €226,698
- Financial income +€7,146
up €7,146 (+4759.0%), from €150 to €7,296
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 | €858,103 | €1,021,083 | +€162,980 | +19.0% |
| Fixed assets | 21/28 | €233,080 | €212,961 | -€20,119 | -8.6% |
| Tangible fixed assets | 22/27 | €233,080 | €212,961 | -€20,119 | -8.6% |
| Plant, machinery and equipment | 23 | €232,538 | €212,961 | -€19,577 | -8.4% |
| Furniture and vehicles | 24 | €542 | - | -€542 | |
| Current assets | 29/58 | €625,023 | €808,122 | +€183,099 | +29.3% |
| Stocks and contracts in progress | 3 | €144,377 | €156,261 | +€11,884 | +8.2% |
| Stocks | 30/36 | €144,377 | €156,261 | +€11,884 | +8.2% |
| Amounts receivable within one year | 40/41 | €264,275 | €283,588 | +€19,313 | +7.3% |
| Trade receivables | 40 | €5,222 | €6,108 | +€885 | +16.9% |
| Other amounts receivable | 41 | €259,053 | €277,480 | +€18,428 | +7.1% |
| Cash at bank and in hand | 54/58 | €206,809 | €334,170 | +€127,361 | +61.6% |
| Deferred charges and accrued income | 490/1 | €9,562 | €34,103 | +€24,541 | +256.6% |
| Total equity and liabilities | 10/49 | €858,103 | €1,021,083 | +€162,980 | +19.0% |
| Equity | 10/15 | €199,027 | €245,237 | +€46,210 | +23.2% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €158,000 | +€150,000 | +1875.0% |
| Non-distributable reserves | 130/1 | €8,000 | - | -€8,000 | |
| Reserves not available under the articles | 1311 | €8,000 | - | -€8,000 | |
| Distributable reserves | 133 | - | €158,000 | +€158,000 | |
| Profit (loss) carried forward | 14 | €111,027 | €7,237 | -€103,790 | -93.5% |
| Amounts payable | 17/49 | €659,076 | €775,846 | +€116,770 | +17.7% |
| Amounts payable after more than one year | 17 | €117,802 | €98,133 | -€19,669 | -16.7% |
| Financial debts | 170/4 | €117,802 | €98,133 | -€19,669 | -16.7% |
| Amounts payable within one year | 42/48 | €455,140 | €666,708 | +€211,568 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €22,875 | €22,867 | -€9 | 0.0% |
| Trade debts | 44 | €385,082 | €420,792 | +€35,710 | +9.3% |
| Suppliers | 440/4 | €385,082 | €420,792 | +€35,710 | +9.3% |
| Taxes, remuneration and social security | 45 | €17,183 | €23,049 | +€5,867 | +34.1% |
| Taxes | 450/3 | - | €5,000 | +€5,000 | |
| Remuneration and social security | 454/9 | €17,183 | €18,049 | +€867 | +5.0% |
| Other amounts payable | 47/48 | €30,000 | €200,000 | +€170,000 | +566.7% |
| Accrued charges and deferred income | 492/3 | €86,134 | €11,005 | -€75,129 | -87.2% |
| Remuneration, social security and pensions | 62 | €199,972 | €226,698 | +€26,726 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,939 | €43,238 | +€1,299 | +3.1% |
| Other operating charges | 640/8 | €6,674 | €8,921 | +€2,247 | +33.7% |
| Gross operating margin | 9900 | €331,243 | €547,786 | +€216,543 | +65.4% |
| Operating profit (loss) | 9901 | €82,657 | €268,929 | +€186,272 | +225.4% |
| Financial income | 75/76B | €150 | €7,296 | +€7,146 | +4759.0% |
| Recurring financial income | 75 | €150 | €7,296 | +€7,146 | +4759.0% |
| Financial charges | 65/66B | €14,430 | €15,016 | +€585 | +4.1% |
| Recurring financial charges | 65 | €14,430 | €15,016 | +€585 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €68,377 | €261,210 | +€192,833 | +282.0% |
| Income taxes | 67/77 | €9,572 | €15,000 | +€5,428 | +56.7% |
| Profit (loss) for the period | 9904 | €58,804 | €246,210 | +€187,405 | +318.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,804 | €246,210 | +€187,405 | +318.7% |
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 5 October 2026 via checked.be.