DISTEPHAR: 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.
DISTEPHAR
Largest movements
- Receivables within one year +€332,657
up €332,657 (+253%), from €131,715 to €464,372
of which Trade receivables: +€332,850
- Tangible fixed assets -€35,418
down €35,418 (-13.2%), from €267,495 to €232,077
of which Leasing and similar rights: -€24,868
- Cash -€27,376
down €27,376 (-17.8%), from €153,386 to €126,010
mainly Receivables within one year (-€332,657) and Contributions, distributions and other (-€59,000)
- Stocks and contracts +€12,111
up €12,111 (+7.3%), from €165,547 to €177,659
- Trade debts +€259,649
up €259,649 (+270%), from €96,236 to €355,886
- Debts after one year -€30,255
down €30,255 (-17.3%), from €174,525 to €144,270
- Other debts +€25,655
up €25,655 (+14.7%), from €174,867 to €200,522
- Tax, wage and social debts +€25,345
up €25,345 (+98.1%), from €25,843 to €51,188
of which Taxes: +€22,569
- Gross operating margin +€38,151
up €38,151 (+14.8%), from €257,879 to €296,030
- Staff costs +€22,350
up €22,350 (+16.5%), from €135,303 to €157,652
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €721,242 | €1,005,501 | +€284,259 | +39.4% |
| Fixed assets | 21/28 | €267,495 | €232,077 | -€35,418 | -13.2% |
| Tangible fixed assets | 22/27 | €267,495 | €232,077 | -€35,418 | -13.2% |
| Plant, machinery and equipment | 23 | €2,973 | €696 | -€2,277 | -76.6% |
| Leasing and similar rights | 25 | €181,872 | €157,004 | -€24,868 | -13.7% |
| Other tangible fixed assets | 26 | €82,650 | €74,377 | -€8,273 | -10.0% |
| Current assets | 29/58 | €453,747 | €773,424 | +€319,677 | +70.5% |
| Stocks and contracts in progress | 3 | €165,547 | €177,659 | +€12,111 | +7.3% |
| Stocks | 30/36 | €165,547 | €177,659 | +€12,111 | +7.3% |
| Amounts receivable within one year | 40/41 | €131,715 | €464,372 | +€332,657 | +253% |
| Trade receivables | 40 | €131,515 | €464,365 | +€332,850 | +253% |
| Other amounts receivable | 41 | €199 | €7 | -€192 | -96.5% |
| Cash at bank and in hand | 54/58 | €153,386 | €126,010 | -€27,376 | -17.8% |
| Deferred charges and accrued income | 490/1 | €3,099 | €5,384 | +€2,285 | +73.7% |
| Total equity and liabilities | 10/49 | €721,242 | €1,005,501 | +€284,259 | +39.4% |
| Equity | 10/15 | €214,650 | €223,444 | +€8,795 | +4.1% |
| Contributions | 10/11 | €79,472 | €79,472 | = | 0.0% |
| Reserves | 13 | €51,583 | €60,378 | +€8,795 | +17.0% |
| Distributable reserves | 133 | €51,583 | €60,378 | +€8,795 | +17.0% |
| Profit (loss) carried forward | 14 | €83,594 | €83,594 | = | 0.0% |
| Amounts payable | 17/49 | €506,592 | €782,057 | +€275,465 | +54.4% |
| Amounts payable after more than one year | 17 | €174,525 | €144,270 | -€30,255 | -17.3% |
| Financial debts | 170/4 | €174,525 | €144,270 | -€30,255 | -17.3% |
| Amounts payable within one year | 42/48 | €332,067 | €637,560 | +€305,493 | +92.0% |
| Current portion of amounts payable after more than one year | 42 | €35,005 | €29,964 | -€5,041 | -14.4% |
| Trade debts | 44 | €96,236 | €355,886 | +€259,649 | +270% |
| Suppliers | 440/4 | €96,236 | €355,886 | +€259,649 | +270% |
| Advances received on contracts in progress | 46 | €116 | - | -€116 | |
| Taxes, remuneration and social security | 45 | €25,843 | €51,188 | +€25,345 | +98.1% |
| Taxes | 450/3 | €9,291 | €31,860 | +€22,569 | +243% |
| Remuneration and social security | 454/9 | €16,552 | €19,328 | +€2,776 | +16.8% |
| Other amounts payable | 47/48 | €174,867 | €200,522 | +€25,655 | +14.7% |
| Accrued charges and deferred income | 492/3 | - | €226 | +€226 | |
| Remuneration, social security and pensions | 62 | €135,303 | €157,652 | +€22,350 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,838 | €46,638 | -€200 | -0.4% |
| Other operating charges | 640/8 | €1,216 | €3,963 | +€2,748 | +226% |
| Gross operating margin | 9900 | €257,879 | €296,030 | +€38,151 | +14.8% |
| Operating profit (loss) | 9901 | €74,523 | €87,776 | +€13,253 | +17.8% |
| Financial income | 75/76B | €2,315 | €1,404 | -€911 | -39.3% |
| Recurring financial income | 75 | €2,315 | €1,404 | -€911 | -39.3% |
| Financial charges | 65/66B | €14,122 | €15,958 | +€1,835 | +13.0% |
| Recurring financial charges | 65 | €14,122 | €15,958 | +€1,835 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €62,716 | €73,223 | +€10,507 | +16.8% |
| Income taxes | 67/77 | €6,331 | €5,428 | -€904 | -14.3% |
| Profit (loss) for the period | 9904 | €56,385 | €67,795 | +€11,410 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,385 | €67,795 | +€11,410 | +20.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.