DISTRIBUTION ADVICE: 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.
DISTRIBUTION ADVICE
Largest movements
- Receivables within one year +€40,817
up €40,817 (+6.3%), from €650,144 to €690,961
of which Trade receivables: +€26,503
- Deferred charges and accrued income -€27,627
down €27,627 (-99.3%), from €27,814 to €187
- Cash -€8,109
down €8,109 (-7.7%), from €105,662 to €97,554
mainly Receivables within one year (-€40,817) and Other debts (-€3,663)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€20,633
up €20,633 (+23.3%), from €88,374 to €109,007
- Financial income -€14,805
down €14,805 (-31.6%), from €46,815 to €32,009
- Other operating charges +€7,787
up €7,787 (+468.3%), from €1,663 to €9,450
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.
Cash bridge derived
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 | €785,435 | €789,253 | +€3,817 | +0.5% |
| Fixed assets | 21/28 | €1,815 | €550 | -€1,265 | -69.7% |
| Tangible fixed assets | 22/27 | €1,265 | €0 | -€1,265 | -100.0% |
| Assets under construction and advance payments | 27 | €1,265 | €0 | -€1,265 | -100.0% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €783,621 | €788,703 | +€5,082 | +0.6% |
| Amounts receivable within one year | 40/41 | €650,144 | €690,961 | +€40,817 | +6.3% |
| Trade receivables | 40 | €0 | €26,503 | +€26,503 | |
| Other amounts receivable | 41 | €650,144 | €664,458 | +€14,314 | +2.2% |
| Cash at bank and in hand | 54/58 | €105,662 | €97,554 | -€8,109 | -7.7% |
| Deferred charges and accrued income | 490/1 | €27,814 | €187 | -€27,627 | -99.3% |
| Total equity and liabilities | 10/49 | €785,435 | €789,253 | +€3,817 | +0.5% |
| Equity | 10/15 | -€1,208,194 | -€1,203,864 | +€4,330 | +0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,222,454 | -€1,218,124 | +€4,330 | +0.4% |
| Provisions and deferred taxes | 16 | €1,640,944 | €1,640,614 | -€330 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,640,944 | €1,640,614 | -€330 | 0.0% |
| Environmental obligations | 163 | €1,640,944 | €1,640,614 | -€330 | 0.0% |
| Amounts payable | 17/49 | €352,685 | €352,503 | -€183 | -0.1% |
| Amounts payable within one year | 42/48 | €351,718 | €351,667 | -€51 | 0.0% |
| Trade debts | 44 | €3,370 | €7,592 | +€4,222 | +125.3% |
| Suppliers | 440/4 | €3,370 | €7,592 | +€4,222 | +125.3% |
| Taxes, remuneration and social security | 45 | €4,124 | €3,514 | -€610 | -14.8% |
| Taxes | 450/3 | €4,124 | €3,514 | -€610 | -14.8% |
| Other amounts payable | 47/48 | €344,224 | €340,561 | -€3,663 | -1.1% |
| Accrued charges and deferred income | 492/3 | €968 | €836 | -€132 | -13.6% |
| Other operating charges | 640/8 | €1,663 | €9,450 | +€7,787 | +468.3% |
| Non-recurring operating charges | 66A | €11,086 | €12,118 | +€1,033 | +9.3% |
| Gross operating margin | 9900 | €88,374 | €109,007 | +€20,633 | +23.3% |
| Operating profit (loss) | 9901 | €75,626 | €87,438 | +€11,813 | +15.6% |
| Financial income | 75/76B | €46,815 | €32,009 | -€14,805 | -31.6% |
| Recurring financial income | 75 | €46,815 | €32,009 | -€14,805 | -31.6% |
| Financial charges | 65/66B | €114,993 | €115,118 | +€125 | +0.1% |
| Recurring financial charges | 65 | €114,993 | €115,118 | +€125 | +0.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €7,447 | €4,330 | -€3,117 | -41.9% |
| Profit (loss) for the period | 9904 | €7,447 | €4,330 | -€3,117 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,447 | €4,330 | -€3,117 | -41.9% |
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 11 October 2026 via checked.be.