DISTRIBUTIECENTRUM: 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
DISTRIBUTIECENTRUM
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€51,345
2024 · €607,829-€556,484
Equity
€12.8m
2024 · €12.7m+€51,345
Cash
€219,896
2024 · €129,944+€89,951
Balance sheet total
€23.9m
2024 · €16.8m+€7.1m
Largest movements
Assets
- Tangible fixed assets +€5.8m
up €5.8m (+117%), from €4.9m to €10.7m
of which Land and buildings: +€6.4m
- Receivables within one year +€1.2m
up €1.2m (+38.3%), from €3.0m to €4.2m
of which Other amounts receivable: +€1.2m
Equity and liabilities
- Debts after one year +€6.7m
up €6.7m (+354%), from €1.9m to €8.5m
of which Financial debts: +€6.5m
- Current portion of long-term debt +€482,954
up €482,954 (+146%), from €330,868 to €813,822
Income statement
- Depreciation +€715,384
up €715,384 (+264%), from €270,712 to €986,096
- Taxes -€184,074
down €184,074 (-89.8%), from €204,949 to €20,875
- Financial charges +€149,041
up €149,041 (+264%), from €56,359 to €205,400
- Gross operating margin +€137,679
up €137,679 (+11.3%), from €1.2m to €1.4m
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
€607,829
Gross operating margin
+€137,679
Depreciation
-€715,384
Write-downs
-€1,493
Other operating charges
-€8,835
Financial income
-€3,484
Financial charges
-€149,041
Taxes
+€184,074
Result 2025
€51,345
raises the resultlowers the result
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
-€298,015
Investment
-€6.7m
Financing
+€7.1m
Cash 2024
€129,944
From operations (derived)
-€298,015
Net result for the year
+€51,345
Depreciation
+€986,096
Smaller working-capital items
+€22,173
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€93,972
Trade debts
+€96,583
Tax, wage and social debts
-€157,510
Other debts
-€50,000
Investment (derived)
-€6.7m
Investment in fixed assets (net)
-€6.7m
Financing
+€7.1m
Debts after one year
+€6.7m
Current portion of long-term debt
+€482,954
Cash 2025
€219,896
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,795,820 | €23,879,125 | +€7.1m | +42.2% |
| Fixed assets | 21/28 | €13,332,913 | €19,093,849 | +€5.8m | +43.2% |
| Tangible fixed assets | 22/27 | €4,906,912 | €10,667,848 | +€5.8m | +117% |
| Land and buildings | 22 | €3,567,225 | €9,946,509 | +€6.4m | +179% |
| Leasing and similar rights | 25 | €807,589 | €721,339 | -€86,250 | -10.7% |
| Assets under construction and advance payments | 27 | €532,097 | - | -€532,097 | |
| Financial fixed assets | 28 | €8,426,001 | €8,426,001 | = | 0.0% |
| Current assets | 29/58 | €3,462,907 | €4,785,275 | +€1.3m | +38.2% |
| Amounts receivable after more than one year | 29 | €320,989 | €306,703 | -€14,286 | -4.5% |
| Other amounts receivable | 291 | €320,989 | €306,703 | -€14,286 | -4.5% |
| Amounts receivable within one year | 40/41 | €3,011,974 | €4,164,704 | +€1.2m | +38.3% |
| Trade receivables | 40 | €269,813 | €266,128 | -€3,685 | -1.4% |
| Other amounts receivable | 41 | €2,742,162 | €3,898,577 | +€1.2m | +42.2% |
| Cash at bank and in hand | 54/58 | €129,944 | €219,896 | +€89,951 | +69.2% |
| Deferred charges and accrued income | 490/1 | - | €93,972 | +€93,972 | |
| Total equity and liabilities | 10/49 | €16,795,820 | €23,879,125 | +€7.1m | +42.2% |
| Equity | 10/15 | €12,702,459 | €12,753,804 | +€51,345 | +0.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €857,675 | €857,675 | = | 0.0% |
| Reserves | 13 | €461,825 | €461,825 | = | 0.0% |
| Distributable reserves | 133 | €461,825 | €461,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,307,959 | €11,359,304 | +€51,345 | +0.5% |
| Amounts payable | 17/49 | €4,093,361 | €11,125,321 | +€7.0m | +172% |
| Amounts payable after more than one year | 17 | €1,879,116 | €8,531,161 | +€6.7m | +354% |
| Financial debts | 170/4 | €1,738,481 | €8,278,975 | +€6.5m | +376% |
| Other amounts payable | 178/9 | €140,635 | €252,185 | +€111,550 | +79.3% |
| Amounts payable within one year | 42/48 | €2,090,030 | €2,462,057 | +€372,028 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €330,868 | €813,822 | +€482,954 | +146% |
| Trade debts | 44 | €30,776 | €127,360 | +€96,583 | +314% |
| Suppliers | 440/4 | €30,776 | €127,360 | +€96,583 | +314% |
| Taxes, remuneration and social security | 45 | €178,385 | €20,875 | -€157,510 | -88.3% |
| Taxes | 450/3 | €178,385 | €20,875 | -€157,510 | -88.3% |
| Other amounts payable | 47/48 | €1,550,001 | €1,500,001 | -€50,000 | -3.2% |
| Accrued charges and deferred income | 492/3 | €124,215 | €132,102 | +€7,887 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270,712 | €986,096 | +€715,384 | +264% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,728 | €14,221 | +€1,493 | +11.7% |
| Other operating charges | 640/8 | €81,369 | €90,204 | +€8,835 | +10.9% |
| Gross operating margin | 9900 | €1,222,332 | €1,360,011 | +€137,679 | +11.3% |
| Operating profit (loss) | 9901 | €857,523 | €269,490 | -€588,034 | -68.6% |
| Financial income | 75/76B | €11,614 | €8,130 | -€3,484 | -30.0% |
| Recurring financial income | 75 | €11,614 | €8,130 | -€3,484 | -30.0% |
| Financial charges | 65/66B | €56,359 | €205,400 | +€149,041 | +264% |
| Recurring financial charges | 65 | €56,359 | €205,400 | +€149,041 | +264% |
| Profit (loss) for the period before taxes | 9903 | €812,779 | €72,220 | -€740,559 | -91.1% |
| Income taxes | 67/77 | €204,949 | €20,875 | -€184,074 | -89.8% |
| Profit (loss) for the period | 9904 | €607,829 | €51,345 | -€556,484 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €607,829 | €51,345 | -€556,484 | -91.6% |
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 13 October 2026 via checked.be.