I X I 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.
I X I DISTRIBUTION
Largest movements
- Receivables within one year +€80,829
up €80,829 (+19.9%), from €406,304 to €487,133
of which Other amounts receivable: +€50,029
- Tangible fixed assets -€45,346
down €45,346 (-18.6%), from €243,360 to €198,014
of which Other tangible fixed assets: -€23,926
- Stocks and contracts -€27,343
down €27,343 (-12.3%), from €221,885 to €194,542
- Cash -€12,045
down €12,045 (-27.4%), from €44,030 to €31,985
mainly Receivables within one year (-€80,829) and Contributions, distributions and other (-€60,000)
- Profit (loss) carried forward -€53,116
down €53,116 (-59.3%), from €89,518 to €36,402
- Short-term financial debts +€50,000
up €50,000 (+200%), from €25,000 to €75,000
- Other debts +€36,424
up €36,424 (+49.0%), from €74,395 to €110,819
- Tax, wage and social debts -€27,942
down €27,942 (-40.6%), from €68,904 to €40,961
of which Remuneration and social security: -€17,483
- Staff costs -€110,857
down €110,857 (-28.2%), from €393,003 to €282,146
- Gross operating margin -€76,494
down €76,494 (-14.2%), from €538,027 to €461,533
- Financial charges +€25,855
up €25,855 (+41.0%), from €63,046 to €88,901
- Write-downs -€6,926
down €6,926, from €632 to -€6,294
- Financial income -€6,112
down €6,112 (-100.0%), from €6,112 to €0
of which Financial income: -€3,111
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 | €926,339 | €922,440 | -€3,900 | -0.4% |
| Fixed assets | 21/28 | €243,360 | €198,014 | -€45,346 | -18.6% |
| Tangible fixed assets | 22/27 | €243,360 | €198,014 | -€45,346 | -18.6% |
| Furniture and vehicles | 24 | €163,526 | €142,106 | -€21,420 | -13.1% |
| Other tangible fixed assets | 26 | €79,834 | €55,908 | -€23,926 | -30.0% |
| Current assets | 29/58 | €682,980 | €724,426 | +€41,446 | +6.1% |
| Stocks and contracts in progress | 3 | €221,885 | €194,542 | -€27,343 | -12.3% |
| Stocks | 30/36 | €221,885 | €194,542 | -€27,343 | -12.3% |
| Amounts receivable within one year | 40/41 | €406,304 | €487,133 | +€80,829 | +19.9% |
| Trade receivables | 40 | €14,566 | €45,366 | +€30,800 | +211% |
| Other amounts receivable | 41 | €391,738 | €441,767 | +€50,029 | +12.8% |
| Cash at bank and in hand | 54/58 | €44,030 | €31,985 | -€12,045 | -27.4% |
| Deferred charges and accrued income | 490/1 | €10,761 | €10,766 | +€6 | +0.1% |
| Total equity and liabilities | 10/49 | €926,339 | €922,440 | -€3,900 | -0.4% |
| Equity | 10/15 | €239,518 | €186,402 | -€53,116 | -22.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,518 | €36,402 | -€53,116 | -59.3% |
| Amounts payable | 17/49 | €686,822 | €736,038 | +€49,216 | +7.2% |
| Amounts payable after more than one year | 17 | €106,662 | €102,472 | -€4,190 | -3.9% |
| Financial debts | 170/4 | €106,662 | €102,472 | -€4,190 | -3.9% |
| Amounts payable within one year | 42/48 | €571,795 | €632,605 | +€60,809 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €71,952 | €76,070 | +€4,119 | +5.7% |
| Financial debts | 43 | €25,000 | €75,000 | +€50,000 | +200% |
| Credit institutions | 430/8 | €25,000 | €75,000 | +€50,000 | +200% |
| Trade debts | 44 | €331,545 | €329,753 | -€1,791 | -0.5% |
| Suppliers | 440/4 | €331,545 | €329,753 | -€1,791 | -0.5% |
| Taxes, remuneration and social security | 45 | €68,904 | €40,961 | -€27,942 | -40.6% |
| Taxes | 450/3 | €26,161 | €15,701 | -€10,459 | -40.0% |
| Remuneration and social security | 454/9 | €42,743 | €25,260 | -€17,483 | -40.9% |
| Other amounts payable | 47/48 | €74,395 | €110,819 | +€36,424 | +49.0% |
| Accrued charges and deferred income | 492/3 | €8,364 | €961 | -€7,403 | -88.5% |
| Remuneration, social security and pensions | 62 | €393,003 | €282,146 | -€110,857 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,290 | €83,357 | +€4,067 | +5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €632 | -€6,294 | -€6,926 | |
| Other operating charges | 640/8 | €4,961 | €2,585 | -€2,376 | -47.9% |
| Gross operating margin | 9900 | €538,027 | €461,533 | -€76,494 | -14.2% |
| Operating profit (loss) | 9901 | €60,140 | €99,738 | +€39,598 | +65.8% |
| Financial income | 75/76B | €6,112 | €0 | -€6,112 | -100.0% |
| Recurring financial income | 75 | €3,111 | €0 | -€3,111 | -100.0% |
| Non-recurring financial income | 76B | €3,001 | - | -€3,001 | |
| Financial charges | 65/66B | €63,046 | €88,901 | +€25,855 | +41.0% |
| Recurring financial charges | 65 | €63,046 | €88,901 | +€25,855 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €3,206 | €10,838 | +€7,632 | +238% |
| Income taxes | 67/77 | €4,100 | €3,953 | -€146 | -3.6% |
| Profit (loss) for the period | 9904 | -€894 | €6,884 | +€7,778 | |
| Profit (loss) for the period to be appropriated | 9905 | -€894 | €6,884 | +€7,778 |
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 26 October 2026 via checked.be.