WEB 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.
WEB DISTRIBUTION
Largest movements
- Stocks and contracts +€299,477
up €299,477 (+60.0%), from €499,531 to €799,008
- Receivables within one year +€88,609
up €88,609 (+109%), from €80,984 to €169,593
of which Trade receivables: +€112,477
- Cash -€80,639
down €80,639 (-42.3%), from €190,798 to €110,158
mainly Stocks and contracts (-€299,477) and Investment in fixed assets (net) (-€105,649)
- Trade debts +€200,093
up €200,093 (+77.6%), from €257,725 to €457,817
- Current portion of long-term debt +€66,552
up €66,552 (+46.5%), from €143,218 to €209,771
- Profit (loss) carried forward +€57,027
up €57,027 (+11.9%), from €479,113 to €536,140
- Other debts -€30,043
down €30,043 (-54.9%), from €54,734 to €24,691
- Debts after one year +€22,882
up €22,882 (+27.8%), from €82,242 to €105,124
- Turnover +€523,779
up €523,779 (+21.4%), from €2.5m to €3.0m
- Purchases and services +€513,700
up €513,700 (+24.4%), from €2.1m to €2.6m
- Staff costs +€49,851
up €49,851 (+32.4%), from €153,903 to €203,754
- Gross operating margin +€44,659
up €44,659 (+12.4%), from €361,018 to €405,677
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 | €1,076,248 | €1,402,743 | +€326,495 | +30.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €302,786 | €317,052 | +€14,266 | +4.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €295,786 | €306,252 | +€10,466 | +3.5% |
| Land and buildings | 22 | €26,889 | €16,625 | -€10,264 | -38.2% |
| Plant, machinery and equipment | 23 | €32,333 | €34,255 | +€1,922 | +5.9% |
| Furniture and vehicles | 24 | €176,903 | €116,712 | -€60,192 | -34.0% |
| Leasing and similar rights | 25 | - | €85,512 | +€85,512 | |
| Other tangible fixed assets | 26 | €59,660 | €53,148 | -€6,512 | -10.9% |
| Financial fixed assets | 28 | €7,000 | €10,800 | +€3,800 | +54.3% |
| Current assets | 29/58 | €773,462 | €1,085,691 | +€312,229 | +40.4% |
| Stocks and contracts in progress | 3 | €499,531 | €799,008 | +€299,477 | +60.0% |
| Stocks | 30/36 | €499,531 | €799,008 | +€299,477 | +60.0% |
| Amounts receivable within one year | 40/41 | €80,984 | €169,593 | +€88,609 | +109% |
| Trade receivables | 40 | €51,207 | €163,683 | +€112,477 | +220% |
| Other amounts receivable | 41 | €29,777 | €5,909 | -€23,868 | -80.2% |
| Cash at bank and in hand | 54/58 | €190,798 | €110,158 | -€80,639 | -42.3% |
| Deferred charges and accrued income | 490/1 | €2,149 | €6,932 | +€4,783 | +223% |
| Total equity and liabilities | 10/49 | €1,076,248 | €1,402,743 | +€326,495 | +30.3% |
| Equity | 10/15 | €499,573 | €556,600 | +€57,027 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €479,113 | €536,140 | +€57,027 | +11.9% |
| Amounts payable | 17/49 | €576,675 | €846,143 | +€269,468 | +46.7% |
| Amounts payable after more than one year | 17 | €82,242 | €105,124 | +€22,882 | +27.8% |
| Financial debts | 170/4 | €82,242 | €105,124 | +€22,882 | +27.8% |
| Amounts payable within one year | 42/48 | €492,933 | €741,019 | +€248,086 | +50.3% |
| Current portion of amounts payable after more than one year | 42 | €143,218 | €209,771 | +€66,552 | +46.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €257,725 | €457,817 | +€200,093 | +77.6% |
| Suppliers | 440/4 | €257,725 | €457,817 | +€200,093 | +77.6% |
| Taxes, remuneration and social security | 45 | €37,256 | €48,740 | +€11,484 | +30.8% |
| Taxes | 450/3 | €6,529 | €15,979 | +€9,450 | +145% |
| Remuneration and social security | 454/9 | €30,727 | €32,761 | +€2,034 | +6.6% |
| Other amounts payable | 47/48 | €54,734 | €24,691 | -€30,043 | -54.9% |
| Accrued charges and deferred income | 492/3 | €1,500 | €0 | -€1,500 | -100% |
| Turnover | 70 | €2,450,861 | €2,974,639 | +€523,779 | +21.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,104,219 | €2,617,919 | +€513,700 | +24.4% |
| Remuneration, social security and pensions | 62 | €153,903 | €203,754 | +€49,851 | +32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,710 | €91,384 | +€11,674 | +14.6% |
| Other operating charges | 640/8 | €5,445 | €17,865 | +€12,421 | +228% |
| Gross operating margin | 9900 | €361,018 | €405,677 | +€44,659 | +12.4% |
| Operating profit (loss) | 9901 | €121,961 | €92,674 | -€29,287 | -24.0% |
| Financial income | 75/76B | €2,508 | €1,928 | -€580 | -23.1% |
| Recurring financial income | 75 | €2,508 | €1,928 | -€580 | -23.1% |
| Financial charges | 65/66B | €15,701 | €21,705 | +€6,003 | +38.2% |
| Recurring financial charges | 65 | €15,701 | €21,705 | +€6,003 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €108,767 | €72,897 | -€35,870 | -33.0% |
| Income taxes | 67/77 | €27,294 | €15,870 | -€11,424 | -41.9% |
| Profit (loss) for the period | 9904 | €81,473 | €57,027 | -€24,446 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,473 | €57,027 | -€24,446 | -30.0% |
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 13 October 2026 via checked.be.