M1 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.
M1 DISTRIBUTION
Largest movements
- Stocks and contracts -€58,121
down €58,121 (-27.8%), from €209,150 to €151,029
- Receivables within one year -€39,901
down €39,901 (-25.9%), from €154,058 to €114,157
of which Trade receivables: -€40,760
- Cash -€29,087
down €29,087 (-46.0%), from €63,272 to €34,185
mainly Trade debts (-€135,455) and Debts after one year (-€58,633)
- Tangible fixed assets -€14,901
down €14,901 (-4.5%), from €329,951 to €315,050
of which Land and buildings: -€9,789
- Trade debts -€135,455
down €135,455 (-71.5%), from €189,353 to €53,898
- Debts after one year -€58,633
down €58,633 (-25.1%), from €233,489 to €174,856
- Short-term financial debts +€40,595
new in 2024: €40,595
- Other debts +€15,788
up €15,788 (+11.2%), from €140,750 to €156,538
- Current portion of long-term debt -€12,421
down €12,421 (-41.6%), from €29,844 to €17,424
- Depreciation -€13,188
down €13,188 (-40.2%), from €32,839 to €19,651
- Gross operating margin -€10,050
down €10,050 (-18.8%), from €53,474 to €43,424
- Taxes +€2,571
new in 2024: €2,571
- Staff costs -€1,765
no longer reported in 2024 (was €1,765)
- Financial charges +€1,743
up €1,743 (+19.8%), from €8,797 to €10,540
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.
Derived cash bridge
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 | €756,607 | €614,421 | -€142,185 | -18.8% |
| Fixed assets | 21/28 | €329,951 | €315,050 | -€14,901 | -4.5% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €329,951 | €315,050 | -€14,901 | -4.5% |
| Land and buildings | 22 | €287,509 | €277,720 | -€9,789 | -3.4% |
| Plant, machinery and equipment | 23 | €39,201 | €35,501 | -€3,700 | -9.4% |
| Furniture and vehicles | 24 | €3,189 | €1,829 | -€1,360 | -42.6% |
| Other tangible fixed assets | 26 | €51 | - | -€51 | |
| Current assets | 29/58 | €426,656 | €299,371 | -€127,285 | -29.8% |
| Stocks and contracts in progress | 3 | €209,150 | €151,029 | -€58,121 | -27.8% |
| Stocks | 30/36 | €209,150 | €151,029 | -€58,121 | -27.8% |
| Amounts receivable within one year | 40/41 | €154,058 | €114,157 | -€39,901 | -25.9% |
| Trade receivables | 40 | €153,916 | €113,156 | -€40,760 | -26.5% |
| Other amounts receivable | 41 | €142 | €1,001 | +€859 | +605% |
| Cash at bank and in hand | 54/58 | €63,272 | €34,185 | -€29,087 | -46.0% |
| Deferred charges and accrued income | 490/1 | €176 | - | -€176 | |
| Total equity and liabilities | 10/49 | €756,607 | €614,421 | -€142,185 | -18.8% |
| Equity | 10/15 | €145,795 | €154,031 | +€8,236 | +5.6% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €44,698 | €44,698 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,274 | €6,274 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,274 | €6,274 | = | 0.0% |
| Distributable reserves | 133 | €38,424 | €38,424 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,097 | €39,333 | +€8,236 | +26.5% |
| Amounts payable | 17/49 | €610,812 | €460,391 | -€150,421 | -24.6% |
| Amounts payable after more than one year | 17 | €233,489 | €174,856 | -€58,633 | -25.1% |
| Financial debts | 170/4 | €233,489 | €174,856 | -€58,633 | -25.1% |
| Amounts payable within one year | 42/48 | €377,323 | €285,534 | -€91,789 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €29,844 | €17,424 | -€12,421 | -41.6% |
| Financial debts | 43 | - | €40,595 | +€40,595 | |
| Credit institutions | 430/8 | - | €40,595 | +€40,595 | |
| Trade debts | 44 | €189,353 | €53,898 | -€135,455 | -71.5% |
| Suppliers | 440/4 | €189,353 | €53,898 | -€135,455 | -71.5% |
| Taxes, remuneration and social security | 45 | €17,376 | €17,081 | -€295 | -1.7% |
| Taxes | 450/3 | €15,377 | €17,081 | +€1,703 | +11.1% |
| Remuneration and social security | 454/9 | €1,999 | - | -€1,999 | |
| Other amounts payable | 47/48 | €140,750 | €156,538 | +€15,788 | +11.2% |
| Remuneration, social security and pensions | 62 | €1,765 | - | -€1,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,839 | €19,651 | -€13,188 | -40.2% |
| Other operating charges | 640/8 | €1,696 | €2,443 | +€747 | +44.1% |
| Gross operating margin | 9900 | €53,474 | €43,424 | -€10,050 | -18.8% |
| Operating profit (loss) | 9901 | €17,174 | €21,330 | +€4,155 | +24.2% |
| Financial income | 75/76B | €0 | €18 | +€18 | +17,920% |
| Recurring financial income | 75 | €0 | €18 | +€18 | +17,920% |
| Financial charges | 65/66B | €8,797 | €10,540 | +€1,743 | +19.8% |
| Recurring financial charges | 65 | €8,797 | €10,540 | +€1,743 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €8,377 | €10,807 | +€2,430 | +29.0% |
| Income taxes | 67/77 | - | €2,571 | +€2,571 | |
| Profit (loss) for the period | 9904 | €8,377 | €8,236 | -€141 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,377 | €8,236 | -€141 | -1.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.