FT DISTRIBUTION: what changed
Two fiscal 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.
FT DISTRIBUTION
Largest movements
- Stocks and contracts -€58,200
down €58,200 (-76.1%), from €76,500 to €18,300
- Receivables within one year -€14,927
down €14,927 (-9.0%), from €165,710 to €150,783
of which Trade receivables: -€13,860
- Cash -€5,467
down €5,467 (-25.3%), from €21,637 to €16,170
mainly Net result for the year (-€96,200) and Current portion of long-term debt (-€8,697)
- Tangible fixed assets -€4,622
down €4,622 (-19.7%), from €23,450 to €18,828
of which Furniture and vehicles: -€3,876
- Profit (loss) carried forward -€96,200
down €96,200, from €15,570 to -€80,630
- Trade debts +€21,298
up €21,298 (+13.7%), from €155,751 to €177,049
- Current portion of long-term debt -€8,697
down €8,697 (-100.0%), from €8,697 to €0
- Gross operating margin -€200,450
down €200,450 (-65.0%), from €308,215 to €107,765
- Other operating charges -€78,709
down €78,709 (-35.8%), from €219,709 to €141,000
- Financial charges -€6,467
down €6,467 (-70.8%), from €9,132 to €2,665
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,645 | €224,464 | -€85,181 | -27.5% |
| Fixed assets | 21/28 | €41,826 | €36,128 | -€5,699 | -13.6% |
| Intangible fixed assets | 21 | €1,076 | €0 | -€1,076 | -100.0% |
| Tangible fixed assets | 22/27 | €23,450 | €18,828 | -€4,622 | -19.7% |
| Plant, machinery and equipment | 23 | €4,885 | €4,138 | -€746 | -15.3% |
| Furniture and vehicles | 24 | €18,565 | €14,689 | -€3,876 | -20.9% |
| Financial fixed assets | 28 | €17,300 | €17,300 | = | 0.0% |
| Current assets | 29/58 | €267,819 | €188,337 | -€79,482 | -29.7% |
| Stocks and contracts in progress | 3 | €76,500 | €18,300 | -€58,200 | -76.1% |
| Stocks | 30/36 | €76,500 | €18,300 | -€58,200 | -76.1% |
| Amounts receivable within one year | 40/41 | €165,710 | €150,783 | -€14,927 | -9.0% |
| Trade receivables | 40 | €52,366 | €38,505 | -€13,860 | -26.5% |
| Other amounts receivable | 41 | €113,344 | €112,278 | -€1,067 | -0.9% |
| Cash at bank and in hand | 54/58 | €21,637 | €16,170 | -€5,467 | -25.3% |
| Deferred charges and accrued income | 490/1 | €3,972 | €3,083 | -€889 | -22.4% |
| Total equity and liabilities | 10/49 | €309,645 | €224,464 | -€85,181 | -27.5% |
| Equity | 10/15 | €86,993 | -€9,207 | -€96,200 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €59,023 | €59,023 | = | 0.0% |
| Distributable reserves | 133 | €59,023 | €59,023 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,570 | -€80,630 | -€96,200 | |
| Amounts payable | 17/49 | €222,652 | €233,671 | +€11,019 | +4.9% |
| Amounts payable within one year | 42/48 | €222,652 | €233,671 | +€11,019 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €8,697 | €0 | -€8,697 | -100.0% |
| Trade debts | 44 | €155,751 | €177,049 | +€21,298 | +13.7% |
| Suppliers | 440/4 | €155,751 | €177,049 | +€21,298 | +13.7% |
| Taxes, remuneration and social security | 45 | €11,389 | €9,149 | -€2,240 | -19.7% |
| Taxes | 450/3 | €328 | €247 | -€80 | -24.5% |
| Remuneration and social security | 454/9 | €11,062 | €8,902 | -€2,160 | -19.5% |
| Other amounts payable | 47/48 | €46,815 | €47,473 | +€658 | +1.4% |
| Remuneration, social security and pensions | 62 | €56,527 | €54,096 | -€2,432 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,276 | €5,699 | -€577 | -9.2% |
| Other operating charges | 640/8 | €219,709 | €141,000 | -€78,709 | -35.8% |
| Non-recurring operating charges | 66A | €792 | €0 | -€792 | -100.0% |
| Gross operating margin | 9900 | €308,215 | €107,765 | -€200,450 | -65.0% |
| Operating profit (loss) | 9901 | €24,911 | -€93,029 | -€117,940 | |
| Financial income | 75/76B | €4 | €6 | +€2 | +37.5% |
| Recurring financial income | 75 | €4 | €6 | +€2 | +37.5% |
| Financial charges | 65/66B | €9,132 | €2,665 | -€6,467 | -70.8% |
| Recurring financial charges | 65 | €9,132 | €2,665 | -€6,467 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | €15,782 | -€95,689 | -€111,471 | |
| Income taxes | 67/77 | €212 | €511 | +€299 | +141.2% |
| Profit (loss) for the period | 9904 | €15,570 | -€96,200 | -€111,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,570 | -€96,200 | -€111,770 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.