DISPOGROUP: 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
DISPOGROUP
NACE 46.493, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€451,873
2024 · €104,024+€347,849
Equity
€826,243
2024 · €374,370+€451,873
Cash
€94,696
2024 · €115,868-€21,173
Balance sheet total
€3.2m
2024 · €1.9m+€1.3m
Largest movements
Assets
- Stocks and contracts +€609,697
up €609,697 (+49.2%), from €1.2m to €1.8m
- Receivables within one year +€384,070
up €384,070 (+102%), from €376,193 to €760,263
of which Trade receivables: +€361,032
- Tangible fixed assets +€327,318
up €327,318 (+243%), from €134,617 to €461,935
of which Plant, machinery and equipment: +€266,680
Equity and liabilities
- Reserves +€451,873
up €451,873 (+128%), from €354,370 to €806,243
of which Distributable reserves: +€336,812
- Short-term financial debts +€259,219
up €259,219 (+125%), from €207,595 to €466,813
- Debts after one year +€187,823
up €187,823 (+49.0%), from €383,197 to €571,019
- Other debts +€143,642
up €143,642 (+29.3%), from €489,544 to €633,186
- Trade debts +€127,724
up €127,724 (+60.2%), from €212,241 to €339,965
Income statement
- Gross operating margin +€612,569
up €612,569 (+171%), from €358,037 to €970,606
- Staff costs +€92,767
up €92,767 (+54.6%), from €169,852 to €262,618
- Depreciation +€82,545
up €82,545 (+488%), from €16,904 to €99,449
- Taxes +€76,975
up €76,975 (+201%), from €38,219 to €115,194
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
€104,024
Gross operating margin
+€612,569
Staff costs
-€92,767
Depreciation
-€82,545
Write-downs
-€3,619
Other operating charges
+€290
Other operating items
-€74
Financial income
+€321
Financial charges
-€9,350
Taxes
-€76,975
Result 2025
€451,873
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
-€98,585
Investment
-€455,826
Financing
+€533,238
Cash 2024
€115,868
From operations (derived)
-€98,585
Net result for the year
+€451,873
Depreciation
+€99,449
Stocks and contracts
-€609,697
Receivables within one year
-€384,070
Deferred charges and accrued income
-€3,599
Trade debts
+€127,724
Tax, wage and social debts
+€40,293
Advances received
-€3,754
Other debts
+€143,642
Accrued charges and deferred income
+€39,555
Investment (derived)
-€455,826
Investment in fixed assets (net)
-€455,826
Financing
+€533,238
Debts after one year
+€187,823
Current portion of long-term debt
+€86,197
Short-term financial debts
+€259,219
Cash 2025
€94,696
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,866,257 | €3,198,828 | +€1.3m | +71.4% |
| Fixed assets | 21/28 | €134,867 | €491,244 | +€356,377 | +264% |
| Intangible fixed assets | 21 | - | €23,278 | +€23,278 | |
| Tangible fixed assets | 22/27 | €134,617 | €461,935 | +€327,318 | +243% |
| Plant, machinery and equipment | 23 | €94,798 | €361,478 | +€266,680 | +281% |
| Furniture and vehicles | 24 | €39,818 | €83,851 | +€44,032 | +111% |
| Other tangible fixed assets | 26 | - | €16,606 | +€16,606 | |
| Financial fixed assets | 28 | €250 | €6,031 | +€5,781 | +2,312% |
| Current assets | 29/58 | €1,731,390 | €2,707,585 | +€976,194 | +56.4% |
| Stocks and contracts in progress | 3 | €1,238,247 | €1,847,945 | +€609,697 | +49.2% |
| Stocks | 30/36 | €1,238,247 | €1,847,945 | +€609,697 | +49.2% |
| Amounts receivable within one year | 40/41 | €376,193 | €760,263 | +€384,070 | +102% |
| Trade receivables | 40 | €363,038 | €724,070 | +€361,032 | +99.4% |
| Other amounts receivable | 41 | €13,155 | €36,193 | +€23,038 | +175% |
| Cash at bank and in hand | 54/58 | €115,868 | €94,696 | -€21,173 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,082 | €4,681 | +€3,599 | +333% |
| Total equity and liabilities | 10/49 | €1,866,257 | €3,198,828 | +€1.3m | +71.4% |
| Equity | 10/15 | €374,370 | €826,243 | +€451,873 | +121% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €354,370 | €806,243 | +€451,873 | +128% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €115,061 | +€115,061 | |
| Distributable reserves | 133 | €352,510 | €689,322 | +€336,812 | +95.5% |
| Amounts payable | 17/49 | €1,491,887 | €2,372,585 | +€880,699 | +59.0% |
| Amounts payable after more than one year | 17 | €383,197 | €571,019 | +€187,823 | +49.0% |
| Financial debts | 170/4 | €383,197 | €571,019 | +€187,823 | +49.0% |
| Amounts payable within one year | 42/48 | €1,108,690 | €1,762,011 | +€653,321 | +58.9% |
| Current portion of amounts payable after more than one year | 42 | €102,886 | €189,084 | +€86,197 | +83.8% |
| Financial debts | 43 | €207,595 | €466,813 | +€259,219 | +125% |
| Credit institutions | 430/8 | €207,595 | €466,813 | +€259,219 | +125% |
| Trade debts | 44 | €212,241 | €339,965 | +€127,724 | +60.2% |
| Suppliers | 440/4 | €212,241 | €339,965 | +€127,724 | +60.2% |
| Advances received on contracts in progress | 46 | €23,617 | €19,863 | -€3,754 | -15.9% |
| Taxes, remuneration and social security | 45 | €72,807 | €113,100 | +€40,293 | +55.3% |
| Taxes | 450/3 | €50,258 | €75,279 | +€25,021 | +49.8% |
| Remuneration and social security | 454/9 | €22,548 | €37,820 | +€15,272 | +67.7% |
| Other amounts payable | 47/48 | €489,544 | €633,186 | +€143,642 | +29.3% |
| Accrued charges and deferred income | 492/3 | - | €39,555 | +€39,555 | |
| Non-recurring operating income | 76A | €568 | - | -€568 | |
| Remuneration, social security and pensions | 62 | €169,852 | €262,618 | +€92,767 | +54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,904 | €99,449 | +€82,545 | +488% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,619 | +€3,619 | |
| Other operating charges | 640/8 | €1,281 | €992 | -€290 | -22.6% |
| Non-recurring operating charges | 66A | - | €74 | +€74 | |
| Gross operating margin | 9900 | €358,037 | €970,606 | +€612,569 | +171% |
| Operating profit (loss) | 9901 | €170,000 | €603,853 | +€433,854 | +255% |
| Financial income | 75/76B | €4 | €325 | +€321 | +7,544% |
| Recurring financial income | 75 | €4 | €45 | +€41 | +958% |
| Non-recurring financial income | 76B | - | €280 | +€280 | |
| Financial charges | 65/66B | €27,761 | €37,111 | +€9,350 | +33.7% |
| Recurring financial charges | 65 | €27,761 | €37,111 | +€9,350 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | €142,243 | €567,067 | +€424,825 | +299% |
| Income taxes | 67/77 | €38,219 | €115,194 | +€76,975 | +201% |
| Profit (loss) for the period | 9904 | €104,024 | €451,873 | +€347,849 | +334% |
| Transfer to tax-exempt reserves | 689 | - | €115,061 | +€115,061 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,024 | €336,812 | +€232,788 | +224% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.