TEDI 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.
TEDI Distribution
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+30.9%), from €6.7m to €8.7m
of which Other tangible fixed assets: +€2.1m
- Stocks and contracts +€1.6m
up €1.6m (+49.2%), from €3.3m to €4.9m
- Receivables within one year -€567,639
down €567,639 (-97.9%), from €580,042 to €12,403
of which Trade receivables: -€578,326
- Cash -€334,832
down €334,832 (-34.7%), from €963,846 to €629,014
mainly Investment in fixed assets (net) (-€3.0m) and Stocks and contracts (-€1.6m)
- Accrued charges and deferred income +€866,152
up €866,152 (+120%), from €719,912 to €1.6m
- Tax, wage and social debts +€695,282
up €695,282 (+50.7%), from €1.4m to €2.1m
of which Remuneration and social security: +€453,470
- Trade debts +€612,320
up €612,320 (+7.9%), from €7.8m to €8.4m
- Profit (loss) carried forward +€515,207
up €515,207 (+32.8%), from -€1.6m to -€1.1m
- Gross operating margin +€8.2m
up €8.2m (+165%), from €5.0m to €13.2m
- Staff costs +€6.3m
up €6.3m (+142%), from €4.4m to €10.8m
- Depreciation +€523,134
up €523,134 (+144%), from €363,131 to €886,265
- Other operating charges +€466,759
up €466,759 (+180%), from €258,771 to €725,530
- Financial charges +€168,551
up €168,551 (+114%), from €147,636 to €316,188
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,682,987 | €14,371,948 | +€2.7m | +23.0% |
| Fixed assets | 21/28 | €6,678,144 | €8,743,082 | +€2.1m | +30.9% |
| Tangible fixed assets | 22/27 | €6,676,494 | €8,741,832 | +€2.1m | +30.9% |
| Plant, machinery and equipment | 23 | €464,455 | €540,995 | +€76,540 | +16.5% |
| Furniture and vehicles | 24 | €130,296 | €114,999 | -€15,297 | -11.7% |
| Other tangible fixed assets | 26 | €5,967,625 | €8,085,838 | +€2.1m | +35.5% |
| Assets under construction and advance payments | 27 | €114,118 | €0 | -€114,118 | -100% |
| Financial fixed assets | 28 | €1,650 | €1,250 | -€400 | -24.2% |
| Current assets | 29/58 | €5,004,843 | €5,628,866 | +€624,023 | +12.5% |
| Stocks and contracts in progress | 3 | €3,315,365 | €4,948,030 | +€1.6m | +49.2% |
| Stocks | 30/36 | €3,315,365 | €4,948,030 | +€1.6m | +49.2% |
| Amounts receivable within one year | 40/41 | €580,042 | €12,403 | -€567,639 | -97.9% |
| Trade receivables | 40 | €578,326 | €0 | -€578,326 | -100% |
| Other amounts receivable | 41 | €1,716 | €12,403 | +€10,687 | +623% |
| Cash at bank and in hand | 54/58 | €963,846 | €629,014 | -€334,832 | -34.7% |
| Deferred charges and accrued income | 490/1 | €145,591 | €39,419 | -€106,172 | -72.9% |
| Total equity and liabilities | 10/49 | €11,682,987 | €14,371,948 | +€2.7m | +23.0% |
| Equity | 10/15 | €1,831,129 | €2,346,337 | +€515,207 | +28.1% |
| Contributions | 10/11 | €3,400,000 | €3,400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,568,871 | -€1,053,663 | +€515,207 | +32.8% |
| Amounts payable | 17/49 | €9,851,858 | €12,025,612 | +€2.2m | +22.1% |
| Amounts payable within one year | 42/48 | €9,131,946 | €10,439,548 | +€1.3m | +14.3% |
| Trade debts | 44 | €7,760,335 | €8,372,656 | +€612,320 | +7.9% |
| Suppliers | 440/4 | €7,760,335 | €8,372,656 | +€612,320 | +7.9% |
| Taxes, remuneration and social security | 45 | €1,371,610 | €2,066,892 | +€695,282 | +50.7% |
| Taxes | 450/3 | €521,557 | €763,369 | +€241,812 | +46.4% |
| Remuneration and social security | 454/9 | €850,053 | €1,303,523 | +€453,470 | +53.3% |
| Accrued charges and deferred income | 492/3 | €719,912 | €1,586,064 | +€866,152 | +120% |
| Remuneration, social security and pensions | 62 | €4,449,816 | €10,782,435 | +€6.3m | +142% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €363,131 | €886,265 | +€523,134 | +144% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€11,830 | -€11,830 | |
| Other operating charges | 640/8 | €258,771 | €725,530 | +€466,759 | +180% |
| Non-recurring operating charges | 66A | €41,468 | €0 | -€41,468 | -100% |
| Gross operating margin | 9900 | €4,985,412 | €13,211,684 | +€8.2m | +165% |
| Operating profit (loss) | 9901 | -€127,774 | €829,285 | +€957,058 | |
| Financial income | 75/76B | €7,760 | €3,867 | -€3,893 | -50.2% |
| Recurring financial income | 75 | €7,760 | €3,867 | -€3,893 | -50.2% |
| Financial charges | 65/66B | €147,636 | €316,188 | +€168,551 | +114% |
| Recurring financial charges | 65 | €147,636 | €316,188 | +€168,551 | +114% |
| Profit (loss) for the period before taxes | 9903 | -€267,650 | €516,964 | +€784,614 | |
| Income taxes | 67/77 | €1,193 | €1,757 | +€563 | +47.2% |
| Profit (loss) for the period | 9904 | -€268,843 | €515,207 | +€784,050 | |
| Profit (loss) for the period to be appropriated | 9905 | -€268,843 | €515,207 | +€784,050 |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.