BELGICOLD: 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.
BELGICOLD
Largest movements
- Cash +€67,574
up €67,574 (+120%), from €56,109 to €123,683
mainly Net result for the year (+€112,605) and Depreciation (+€68,541)
- Receivables within one year -€50,593
down €50,593 (-13.3%), from €379,603 to €329,010
of which Trade receivables: -€51,417
- Tangible fixed assets -€28,511
down €28,511 (-2.4%), from €1.2m to €1.2m
of which Land and buildings: -€22,667
- Reserves +€62,605
up €62,605 (+9.1%), from €685,695 to €748,300
- Debts after one year -€39,829
down €39,829 (-12.0%), from €332,954 to €293,124
- Tax, wage and social debts -€35,599
down €35,599 (-59.9%), from €59,454 to €23,854
- Trade debts +€32,674
up €32,674 (+23.4%), from €139,533 to €172,207
- Other debts -€32,550
down €32,550 (-37.7%), from €86,337 to €53,788
- Depreciation -€52,764
down €52,764 (-43.5%), from €121,305 to €68,541
- Gross operating margin -€33,471
down €33,471 (-11.9%), from €281,122 to €247,651
- Financial charges +€18,545
up €18,545 (+125%), from €14,779 to €33,324
- Financial income -€15,490
no longer reported in 2024 (was €15,490)
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 | €1,718,790 | €1,707,260 | -€11,530 | -0.7% |
| Fixed assets | 21/28 | €1,208,078 | €1,179,567 | -€28,511 | -2.4% |
| Tangible fixed assets | 22/27 | €1,208,078 | €1,179,567 | -€28,511 | -2.4% |
| Land and buildings | 22 | €1,183,135 | €1,160,468 | -€22,667 | -1.9% |
| Plant, machinery and equipment | 23 | €4,266 | €3,190 | -€1,076 | -25.2% |
| Furniture and vehicles | 24 | €20,678 | €15,910 | -€4,768 | -23.1% |
| Current assets | 29/58 | €510,712 | €527,693 | +€16,981 | +3.3% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €379,603 | €329,010 | -€50,593 | -13.3% |
| Trade receivables | 40 | €256,330 | €204,914 | -€51,417 | -20.1% |
| Other amounts receivable | 41 | €123,273 | €124,096 | +€823 | +0.7% |
| Cash at bank and in hand | 54/58 | €56,109 | €123,683 | +€67,574 | +120% |
| Total equity and liabilities | 10/49 | €1,718,790 | €1,707,260 | -€11,530 | -0.7% |
| Equity | 10/15 | €691,853 | €754,458 | +€62,605 | +9.0% |
| Contributions | 10/11 | €6,158 | €6,158 | = | 0.0% |
| Reserves | 13 | €685,695 | €748,300 | +€62,605 | +9.1% |
| Distributable reserves | 133 | €685,695 | €748,300 | +€62,605 | +9.1% |
| Amounts payable | 17/49 | €1,026,938 | €952,802 | -€74,135 | -7.2% |
| Amounts payable after more than one year | 17 | €332,954 | €293,124 | -€39,829 | -12.0% |
| Financial debts | 170/4 | €332,954 | €293,124 | -€39,829 | -12.0% |
| Amounts payable within one year | 42/48 | €693,984 | €659,678 | -€34,306 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €38,660 | €39,829 | +€1,169 | +3.0% |
| Financial debts | 43 | €370,000 | €370,000 | = | 0.0% |
| Credit institutions | 430/8 | €370,000 | €370,000 | = | 0.0% |
| Trade debts | 44 | €139,533 | €172,207 | +€32,674 | +23.4% |
| Suppliers | 440/4 | €139,533 | €172,207 | +€32,674 | +23.4% |
| Taxes, remuneration and social security | 45 | €59,454 | €23,854 | -€35,599 | -59.9% |
| Taxes | 450/3 | €59,454 | €23,854 | -€35,599 | -59.9% |
| Other amounts payable | 47/48 | €86,337 | €53,788 | -€32,550 | -37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,305 | €68,541 | -€52,764 | -43.5% |
| Other operating charges | 640/8 | €9,075 | €7,538 | -€1,537 | -16.9% |
| Gross operating margin | 9900 | €281,122 | €247,651 | -€33,471 | -11.9% |
| Operating profit (loss) | 9901 | €150,742 | €171,572 | +€20,830 | +13.8% |
| Financial income | 75/76B | €15,490 | - | -€15,490 | |
| Recurring financial income | 75 | €15,490 | - | -€15,490 | |
| Financial charges | 65/66B | €14,779 | €33,324 | +€18,545 | +125% |
| Recurring financial charges | 65 | €14,779 | €33,324 | +€18,545 | +125% |
| Profit (loss) for the period before taxes | 9903 | €151,453 | €138,248 | -€13,205 | -8.7% |
| Income taxes | 67/77 | €23,212 | €25,643 | +€2,431 | +10.5% |
| Profit (loss) for the period | 9904 | €128,241 | €112,605 | -€15,636 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €128,241 | €112,605 | -€15,636 | -12.2% |
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 18 October 2026 via checked.be.