D.P. 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.
D.P. DISTRIBUTION
Largest movements
- Current investments +€2.6m
new in 2025: €2.6m
- Cash -€1.3m
down €1.3m (-55.3%), from €2.4m to €1.1m
mainly Debts after one year (-€3.2m) and Current investments (-€2.6m)
- Receivables within one year -€1.2m
down €1.2m (-24.5%), from €4.8m to €3.6m
of which Other amounts receivable: -€1.1m
- Tangible fixed assets +€869,217
up €869,217 (+49.6%), from €1.8m to €2.6m
of which Land and buildings: +€1.7m
- Receivables after one year +€829,191
new in 2025: €829,191
- Reserves +€3.7m
up €3.7m (+18.1%), from €20.3m to €24.0m
of which Distributable reserves: +€4.1m
- Debts after one year -€3.2m
down €3.2m (-30.8%), from €10.2m to €7.1m
of which Financial debts: -€1.8m
- Other debts +€1.9m
up €1.9m (+122.4%), from €1.5m to €3.4m
- Contributions -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Gross operating margin +€339,699
up €339,699 (+34.2%), from €991,935 to €1.3m
- Financial income -€230,196
down €230,196 (-6.3%), from €3.7m to €3.4m
- Taxes +€194,448
up €194,448 (+110.9%), from €175,401 to €369,848
- Staff costs +€172,341
up €172,341 (+91.8%), from €187,759 to €360,100
- Depreciation +€82,597
up €82,597 (+206.0%), from €40,093 to €122,690
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,599,317 | €36,918,372 | +€1.3m | +3.7% |
| Fixed assets | 21/28 | €28,398,223 | €28,777,440 | +€379,217 | +1.3% |
| Tangible fixed assets | 22/27 | €1,752,893 | €2,622,110 | +€869,217 | +49.6% |
| Land and buildings | 22 | €774,736 | €2,523,806 | +€1.7m | +225.8% |
| Plant, machinery and equipment | 23 | €3,344 | €2,926 | -€418 | -12.5% |
| Furniture and vehicles | 24 | €36,384 | €95,379 | +€58,995 | +162.1% |
| Assets under construction and advance payments | 27 | €938,430 | €0 | -€938,430 | -100.0% |
| Financial fixed assets | 28 | €26,645,329 | €26,155,329 | -€490,000 | -1.8% |
| Current assets | 29/58 | €7,201,094 | €8,140,932 | +€939,838 | +13.1% |
| Amounts receivable after more than one year | 29 | - | €829,191 | +€829,191 | |
| Other amounts receivable | 291 | - | €829,191 | +€829,191 | |
| Amounts receivable within one year | 40/41 | €4,757,792 | €3,590,456 | -€1.2m | -24.5% |
| Trade receivables | 40 | €119,575 | €88,043 | -€31,533 | -26.4% |
| Other amounts receivable | 41 | €4,638,217 | €3,502,414 | -€1.1m | -24.5% |
| Current investments | 50/53 | - | €2,567,909 | +€2.6m | |
| Cash at bank and in hand | 54/58 | €2,422,027 | €1,082,029 | -€1.3m | -55.3% |
| Deferred charges and accrued income | 490/1 | €21,275 | €71,347 | +€50,072 | +235.4% |
| Total equity and liabilities | 10/49 | €35,599,317 | €36,918,372 | +€1.3m | +3.7% |
| Equity | 10/15 | €21,572,110 | €24,007,637 | +€2.4m | +11.3% |
| Contributions | 10/11 | €1,250,000 | €0 | -€1.3m | -100.0% |
| Reserves | 13 | €20,322,110 | €24,007,637 | +€3.7m | +18.1% |
| Tax-exempt reserves | 132 | €427,188 | €37,500 | -€389,688 | -91.2% |
| Distributable reserves | 133 | €19,894,921 | €23,970,137 | +€4.1m | +20.5% |
| Provisions and deferred taxes | 16 | €129,896 | €0 | -€129,896 | -100.0% |
| Deferred taxes | 168 | €129,896 | €0 | -€129,896 | -100.0% |
| Amounts payable | 17/49 | €13,897,312 | €12,910,734 | -€986,577 | -7.1% |
| Amounts payable after more than one year | 17 | €10,243,635 | €7,093,536 | -€3.2m | -30.8% |
| Financial debts | 170/4 | €5,493,635 | €3,693,536 | -€1.8m | -32.8% |
| Trade debts | 175 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Other amounts payable | 178/9 | €4,350,000 | €3,200,000 | -€1.2m | -26.4% |
| Amounts payable within one year | 42/48 | €3,460,356 | €5,599,085 | +€2.1m | +61.8% |
| Current portion of amounts payable after more than one year | 42 | €1,837,816 | €1,904,840 | +€67,024 | +3.6% |
| Financial debts | 43 | €12,756 | €0 | -€12,756 | -100.0% |
| Credit institutions | 430/8 | €12,756 | €0 | -€12,756 | -100.0% |
| Trade debts | 44 | €66,490 | €119,010 | +€52,520 | +79.0% |
| Suppliers | 440/4 | €66,490 | €119,010 | +€52,520 | +79.0% |
| Taxes, remuneration and social security | 45 | €29,465 | €208,747 | +€179,283 | +608.5% |
| Taxes | 450/3 | €281 | €149,850 | +€149,568 | +53189.3% |
| Remuneration and social security | 454/9 | €29,183 | €58,898 | +€29,714 | +101.8% |
| Other amounts payable | 47/48 | €1,513,830 | €3,366,488 | +€1.9m | +122.4% |
| Accrued charges and deferred income | 492/3 | €193,321 | €218,113 | +€24,792 | +12.8% |
| Non-recurring operating income | 76A | - | €8,000 | +€8,000 | |
| Remuneration, social security and pensions | 62 | €187,759 | €360,100 | +€172,341 | +91.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,093 | €122,690 | +€82,597 | +206.0% |
| Other operating charges | 640/8 | €6,110 | €17,331 | +€11,220 | +183.6% |
| Gross operating margin | 9900 | €991,935 | €1,331,634 | +€339,699 | +34.2% |
| Operating profit (loss) | 9901 | €757,973 | €831,513 | +€73,540 | +9.7% |
| Financial income | 75/76B | €3,650,315 | €3,420,119 | -€230,196 | -6.3% |
| Recurring financial income | 75 | €3,650,315 | €3,420,119 | -€230,196 | -6.3% |
| Financial charges | 65/66B | €310,158 | €326,152 | +€15,994 | +5.2% |
| Recurring financial charges | 65 | €310,158 | €326,152 | +€15,994 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €4,098,129 | €3,925,480 | -€172,649 | -4.2% |
| Transfer from deferred taxes | 780 | €0 | €129,896 | +€129,896 | |
| Income taxes | 67/77 | €175,401 | €369,848 | +€194,448 | +110.9% |
| Profit (loss) for the period | 9904 | €3,922,729 | €3,685,528 | -€237,201 | -6.0% |
| Transfer from tax-exempt reserves | 789 | €0 | €389,688 | +€389,688 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,922,729 | €4,075,216 | +€152,487 | +3.9% |
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 7 October 2026 via checked.be.