DS DISTRIBUTION: 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.
DS DISTRIBUTION
Largest movements
- Tangible fixed assets -€23,267
down €23,267 (-17.7%), from €131,621 to €108,354
of which Other tangible fixed assets: -€12,195
- Cash -€19,308
down €19,308 (-39.9%), from €48,333 to €29,026
mainly Debts after one year (-€28,373) and Trade debts (-€15,658)
- Deferred charges and accrued income +€6,498
up €6,498 (+29.1%), from €22,327 to €28,825
- Debts after one year -€28,373
down €28,373 (-47.6%), from €59,586 to €31,212
- Trade debts -€15,658
down €15,658 (-6.4%), from €242,828 to €227,170
- Tax, wage and social debts +€3,901
up €3,901 (+25.8%), from €15,110 to €19,011
of which Remuneration and social security: +€3,983
- Gross operating margin +€30,698
up €30,698 (+18.7%), from €163,900 to €194,598
- Financial charges +€4,362
up €4,362 (+32.5%), from €13,403 to €17,764
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 | €348,883 | €309,566 | -€39,317 | -11.3% |
| Fixed assets | 21/28 | €136,221 | €112,954 | -€23,267 | -17.1% |
| Tangible fixed assets | 22/27 | €131,621 | €108,354 | -€23,267 | -17.7% |
| Plant, machinery and equipment | 23 | €54,477 | €45,177 | -€9,300 | -17.1% |
| Furniture and vehicles | 24 | €5,250 | €3,478 | -€1,771 | -33.7% |
| Other tangible fixed assets | 26 | €71,894 | €59,699 | -€12,195 | -17.0% |
| Financial fixed assets | 28 | €4,600 | €4,600 | = | 0.0% |
| Current assets | 29/58 | €212,662 | €196,611 | -€16,050 | -7.5% |
| Stocks and contracts in progress | 3 | €116,807 | €114,604 | -€2,203 | -1.9% |
| Stocks | 30/36 | €116,807 | €114,604 | -€2,203 | -1.9% |
| Amounts receivable within one year | 40/41 | €25,191 | €24,153 | -€1,038 | -4.1% |
| Trade receivables | 40 | €96 | €2,085 | +€1,989 | +2,077% |
| Other amounts receivable | 41 | €25,095 | €22,069 | -€3,027 | -12.1% |
| Current investments | 50/53 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,333 | €29,026 | -€19,308 | -39.9% |
| Deferred charges and accrued income | 490/1 | €22,327 | €28,825 | +€6,498 | +29.1% |
| Total equity and liabilities | 10/49 | €348,883 | €309,566 | -€39,317 | -11.3% |
| Equity | 10/15 | €1,087 | €1,453 | +€366 | +33.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €27,000 | €27,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,913 | -€45,547 | +€366 | +0.8% |
| Amounts payable | 17/49 | €347,796 | €308,113 | -€39,683 | -11.4% |
| Amounts payable after more than one year | 17 | €59,586 | €31,212 | -€28,373 | -47.6% |
| Financial debts | 170/4 | €59,586 | €31,212 | -€28,373 | -47.6% |
| Amounts payable within one year | 42/48 | €288,210 | €276,901 | -€11,310 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €30,271 | €30,719 | +€448 | +1.5% |
| Trade debts | 44 | €242,828 | €227,170 | -€15,658 | -6.4% |
| Suppliers | 440/4 | €242,828 | €227,170 | -€15,658 | -6.4% |
| Taxes, remuneration and social security | 45 | €15,110 | €19,011 | +€3,901 | +25.8% |
| Taxes | 450/3 | €83 | - | -€83 | |
| Remuneration and social security | 454/9 | €15,028 | €19,011 | +€3,983 | +26.5% |
| Remuneration, social security and pensions | 62 | €153,176 | €152,538 | -€638 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,931 | €23,267 | +€1,336 | +6.1% |
| Other operating charges | 640/8 | €903 | €1,975 | +€1,072 | +119% |
| Gross operating margin | 9900 | €163,900 | €194,598 | +€30,698 | +18.7% |
| Operating profit (loss) | 9901 | -€12,110 | €16,818 | +€28,928 | |
| Financial income | 75/76B | €2,621 | €1,763 | -€857 | -32.7% |
| Recurring financial income | 75 | €2,621 | €1,763 | -€857 | -32.7% |
| Financial charges | 65/66B | €13,403 | €17,764 | +€4,362 | +32.5% |
| Recurring financial charges | 65 | €13,403 | €17,764 | +€4,362 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | -€22,892 | €817 | +€23,709 | |
| Income taxes | 67/77 | €310 | €451 | +€141 | +45.5% |
| Profit (loss) for the period | 9904 | -€23,202 | €366 | +€23,568 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,202 | €366 | +€23,568 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.