DISTRI-BOISSONS: what changed
Position among the sector peers
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You see every sector peer as a dot per ratio, with the company in two financial years and every ratio over five years against the sector.
What moved between 2024 and 2025
Net result for the year
€198,418
2024 · €251,707-€53,289
Equity
€1.9m
2024 · €1.7m+€198,418
Cash
€781,743
2024 · €802,717-€20,974
Balance sheet total
€10.9m
2024 · €10.4m+€444,893
Largest movements
Assets
- Receivables within one year +€523,962
up €523,962 (+16.0%), from €3.3m to €3.8m
of which Trade receivables: +€492,039
Equity and liabilities
- Short-term financial debts +€377,021
up €377,021 (+16.9%), from €2.2m to €2.6m
- Debts after one year -€224,016
down €224,016 (-46.6%), from €480,626 to €256,610
- Reserves +€198,418
up €198,418 (+16.2%), from €1.2m to €1.4m
- Trade debts +€146,249
up €146,249 (+3.1%), from €4.7m to €4.8m
Income statement
No income-statement line moved by more than 1% of the activity.
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€251,707
Turnover
-€9,564
Other operating income
+€210,087
Goods and materials
-€206,450
Services and other goods
+€114,216
Staff costs
-€148,214
Depreciation
+€24,842
Write-downs
-€182,005
Other operating charges
+€222,354
Other operating items
-€99,701
Financial income
+€9,141
Financial charges
+€27,308
Taxes
-€15,304
Result 2025
€198,418
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€342,016
Investment
-€439,971
Financing
+€76,981
Cash 2024
€802,717
From operations (derived)
+€342,016
Net result for the year
+€198,418
Depreciation
+€484,478
Receivables after one year
+€29,358
Stocks and contracts
-€55,949
Receivables within one year
-€523,962
Deferred charges and accrued income
+€40,178
Trade debts
+€146,249
Tax, wage and social debts
-€64,281
Other debts
+€88,779
Accrued charges and deferred income
-€1,252
Investment (derived)
-€439,971
Investment in fixed assets (net)
-€439,971
Financing
+€76,981
Debts after one year
-€224,016
Current portion of long-term debt
-€76,024
Short-term financial debts
+€377,021
Cash 2025
€781,743
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,439,684 | €10,884,577 | +€444,893 | +4.3% |
| Fixed assets | 21/28 | €2,577,900 | €2,533,393 | -€44,507 | -1.7% |
| Intangible fixed assets | 21 | €97,436 | €118,913 | +€21,477 | +22.0% |
| Tangible fixed assets | 22/27 | €1,292,322 | €1,223,338 | -€68,984 | -5.3% |
| Plant, machinery and equipment | 23 | €278,737 | €276,609 | -€2,128 | -0.8% |
| Furniture and vehicles | 24 | €271,291 | €281,710 | +€10,419 | +3.8% |
| Leasing and similar rights | 25 | €376,884 | €336,306 | -€40,577 | -10.8% |
| Other tangible fixed assets | 26 | €365,411 | €328,713 | -€36,697 | -10.0% |
| Financial fixed assets | 28 | €1,188,141 | €1,191,141 | +€3,000 | +0.3% |
| Affiliated companies | 280/1 | €1,155,000 | €1,155,000 | = | 0.0% |
| Participating interests | 280 | €1,155,000 | €1,155,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €33,141 | €36,141 | +€3,000 | +9.1% |
| Shares | 284 | €13,479 | €13,479 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €19,662 | €22,662 | +€3,000 | +15.3% |
| Current assets | 29/58 | €7,861,784 | €8,351,184 | +€489,400 | +6.2% |
| Amounts receivable after more than one year | 29 | €635,567 | €606,208 | -€29,358 | -4.6% |
| Trade receivables | 290 | €635,567 | €606,208 | -€29,358 | -4.6% |
| Stocks and contracts in progress | 3 | €2,867,554 | €2,923,502 | +€55,949 | +2.0% |
| Stocks | 30/36 | €2,867,554 | €2,923,502 | +€55,949 | +2.0% |
| Goods purchased for resale | 34 | €2,867,554 | €2,923,502 | +€55,949 | +2.0% |
| Amounts receivable within one year | 40/41 | €3,280,138 | €3,804,100 | +€523,962 | +16.0% |
| Trade receivables | 40 | €2,211,341 | €2,703,380 | +€492,039 | +22.3% |
| Other amounts receivable | 41 | €1,068,797 | €1,100,720 | +€31,923 | +3.0% |
| Cash at bank and in hand | 54/58 | €802,717 | €781,743 | -€20,974 | -2.6% |
| Deferred charges and accrued income | 490/1 | €275,808 | €235,630 | -€40,178 | -14.6% |
| Total equity and liabilities | 10/49 | €10,439,684 | €10,884,577 | +€444,893 | +4.3% |
| Equity | 10/15 | €1,726,630 | €1,925,048 | +€198,418 | +11.5% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €1,226,630 | €1,425,048 | +€198,418 | +16.2% |
| Distributable reserves | 133 | €1,226,630 | €1,425,048 | +€198,418 | +16.2% |
| Amounts payable | 17/49 | €8,713,054 | €8,959,529 | +€246,475 | +2.8% |
| Amounts payable after more than one year | 17 | €480,626 | €256,610 | -€224,016 | -46.6% |
| Financial debts | 170/4 | €480,626 | €256,610 | -€224,016 | -46.6% |
| Leasing and similar obligations | 172 | €207,315 | €146,869 | -€60,446 | -29.2% |
| Credit institutions | 173 | €273,311 | €109,740 | -€163,571 | -59.8% |
| Amounts payable within one year | 42/48 | €8,225,989 | €8,697,733 | +€471,744 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €381,459 | €305,434 | -€76,024 | -19.9% |
| Financial debts | 43 | €2,225,000 | €2,602,021 | +€377,021 | +16.9% |
| Credit institutions | 430/8 | €2,225,000 | €2,602,021 | +€377,021 | +16.9% |
| Trade debts | 44 | €4,700,499 | €4,846,747 | +€146,249 | +3.1% |
| Suppliers | 440/4 | €4,700,499 | €4,846,747 | +€146,249 | +3.1% |
| Taxes, remuneration and social security | 45 | €664,162 | €599,881 | -€64,281 | -9.7% |
| Taxes | 450/3 | €73,436 | €95,251 | +€21,815 | +29.7% |
| Remuneration and social security | 454/9 | €590,726 | €504,630 | -€86,096 | -14.6% |
| Other amounts payable | 47/48 | €254,870 | €343,649 | +€88,779 | +34.8% |
| Accrued charges and deferred income | 492/3 | €6,439 | €5,187 | -€1,252 | -19.5% |
| Operating income | 70/76A | €27,427,965 | €27,628,489 | +€200,524 | +0.7% |
| Turnover | 70 | €25,300,908 | €25,291,344 | -€9,564 | 0.0% |
| Other operating income | 74 | €2,127,057 | €2,337,145 | +€210,087 | +9.9% |
| Operating charges | 60/66A | €26,897,571 | €27,172,529 | +€274,957 | +1.0% |
| Goods for resale, raw materials and consumables | 60 | €18,814,398 | €19,020,847 | +€206,450 | +1.1% |
| Purchases | 600/8 | €18,579,039 | €19,140,642 | +€561,603 | +3.0% |
| Change in stocks: decrease (increase) | 609 | €235,359 | -€119,794 | -€355,153 | |
| Services and other goods | 61 | €3,400,830 | €3,286,614 | -€114,216 | -3.4% |
| Remuneration, social security and pensions | 62 | €3,851,328 | €3,999,542 | +€148,214 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €509,321 | €484,478 | -€24,842 | -4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€74,271 | €107,735 | +€182,005 | |
| Other operating charges | 640/8 | €395,966 | €173,612 | -€222,354 | -56.2% |
| Non-recurring operating charges | 66A | €0 | €99,701 | +€99,701 | |
| Operating profit (loss) | 9901 | €530,394 | €455,960 | -€74,434 | -14.0% |
| Financial income | 75/76B | €4,048 | €13,189 | +€9,141 | +226% |
| Recurring financial income | 75 | €4,048 | €13,189 | +€9,141 | +226% |
| Other financial income | 752/9 | €4,048 | €13,189 | +€9,141 | +226% |
| Financial charges | 65/66B | €158,540 | €131,231 | -€27,308 | -17.2% |
| Recurring financial charges | 65 | €158,540 | €131,231 | -€27,308 | -17.2% |
| Debt charges | 650 | €113,736 | €84,141 | -€29,596 | -26.0% |
| Other financial charges | 652/9 | €44,804 | €47,091 | +€2,287 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €375,902 | €337,918 | -€37,984 | -10.1% |
| Income taxes | 67/77 | €124,196 | €139,500 | +€15,304 | +12.3% |
| Taxes | 670/3 | €124,196 | €139,500 | +€15,304 | +12.3% |
| Profit (loss) for the period | 9904 | €251,707 | €198,418 | -€53,289 | -21.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €251,707 | €198,418 | -€53,289 | -21.2% |
Value
latest balance sheet 31-12-2025 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or advice€1.9m
to
€2.3m
Midpoint €2.1m · 50% capitalised earnings, 50% adjusted equity
Capitalisation rate 12% result over 3 years, excluding non-recurring income and charges earnings weight 50% revaluation €0 other adjustment €0 EBITDA multiple
The filed figures and these assumptions give no positive value. The adjusted equity and the average result are both zero or negative.
Part of the calculation comes out below zero. A shareholding is never worth less than zero, so the floor is zero.
Adjusted equity
€1.8m
Capitalised earnings
€2.0m to €2.8m
Your EBITDA multiple
-
Indication
€1.9m to €2.3m
Adjusted equity
- Equity (10/15)
- €1,925,048
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- -€118,913
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €1.8m
Capitalised earnings
- 2025
- €198,418
- excluding non-recurring income and charges
- €298,119
- 2024
- €251,707
- 2023
- €296,843
- excluding non-recurring income and charges
- €300,883
- 2022
- €193,299
- excluding non-recurring income and charges
- €194,165
- 2021
- €32,269
- excluding non-recurring income and charges
- €37,177
- Average result, excluding non-recurring income and charges
- €283,570
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €2.0m / €2.4m / €2.8m
Your EBITDA multiple
- EBITDA 2025
- €940,439
- Net financial debt
- €2,382,322
- Your multiple
- -
- Value with your multiple
- -
Net financial debt is the sum of financial debts after one year, the part due within the year and short-term financial debts, less cash and current investments.
Limits of the indication
- Checked holds no market prices or comparable transactions.
- Anything after the latest accounts and items off the balance sheet (guarantees, leases, disputes) are left out.
- Checked does not know the real value of buildings, stock and receivables. Enter your own revaluation or adjustment for it.
- The owner's role in the business, synergies for a buyer and the tax consequences of a sale are left out.
For a valuation to base a decision on, go to a company auditor or a certified accountant.
Next steps
Calculation and sources
Source: filed annual accounts (NBB) and main activity (KBO). The movements compare the financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. The value is an indication, not a valuation or advice. Prepared on 13 November 2026 via checked.be.