DICOGEL: 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.
What changed
DICOGEL
NACE 10.393, Manufacture of food products
financial year 2023 compared with 2021not consecutivefiled annual accounts (NBB)
Net result for the year
€545,579
2021 · -€796,790+€1.3m
Equity
€26.1m
2021 · €26.0m+€52,295
Cash
€562,855
2021 · €792,017-€229,162
Balance sheet total
€57.6m
2021 · €51.2m+€6.5m
Largest movements
Assets
- Stocks and contracts +€5.4m
up €5.4m (+38.8%), from €13.9m to €19.2m
- Receivables within one year +€3.0m
up €3.0m (+20.3%), from €14.6m to €17.6m
of which Trade receivables: +€1.9m
- Tangible fixed assets -€1.9m
down €1.9m (-9.2%), from €21.1m to €19.2m
of which Land and buildings: -€1.9m
Equity and liabilities
- Trade debts +€4.5m
up €4.5m (+57.5%), from €7.8m to €12.3m
- Short-term financial debts +€1.6m
up €1.6m (+19.1%), from €8.6m to €10.2m
- Profit (loss) carried forward +€1.2m
up €1.2m (+7.4%), from €16.5m to €17.8m
- Reserves -€975,435
down €975,435 (-13.8%), from €7.1m to €6.1m
of which Tax-exempt reserves: -€975,435
- Provisions -€711,514
down €711,514 (-14.7%), from €4.8m to €4.1m
Income statement
- Turnover +€30.4m
up €30.4m (+56.4%), from €53.9m to €84.2m
- Goods and materials +€25.1m
up €25.1m (+52.1%), from €48.2m to €73.3m
of which Purchases: +€25.4m
- Services and other goods +€3.2m
up €3.2m (+73.8%), from €4.3m to €7.5m
- Staff costs +€2.5m
up €2.5m (+70.0%), from €3.5m to €6.0m
- Depreciation +€1.4m
up €1.4m (+81.2%), from €1.7m to €3.1m
From the 2021 result to the 2023 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.
Result 2021
-€796,790
Turnover
+€30.4m
Other operating income
+€83,821
Goods and materials
-€25.1m
Services and other goods
-€3.2m
Staff costs
-€2.5m
Depreciation
-€1.4m
Other operating charges
-€503,007
Other operating items
+€3.6m
Financial income
+€279,735
Financial charges
-€198,382
Taxes
-€372,887
Deferred taxes and other
+€274,450
Result 2023
€545,579
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,164,447 | €57,649,489 | +€6.5m | +12.7% |
| Fixed assets | 21/28 | €21,300,736 | €19,343,612 | -€2.0m | -9.2% |
| Intangible fixed assets | 21 | €8,145 | €0 | -€8,145 | -100% |
| Tangible fixed assets | 22/27 | €21,115,881 | €19,166,902 | -€1.9m | -9.2% |
| Land and buildings | 22 | €19,070,164 | €17,195,571 | -€1.9m | -9.8% |
| Plant, machinery and equipment | 23 | €1,980,991 | €1,848,447 | -€132,544 | -6.7% |
| Furniture and vehicles | 24 | €19,704 | €122,884 | +€103,180 | +524% |
| Leasing and similar rights | 25 | €45,022 | €0 | -€45,022 | -100% |
| Financial fixed assets | 28 | €176,710 | €176,710 | = | 0.0% |
| Affiliated companies | 280/1 | €176,710 | €176,710 | = | 0.0% |
| Participating interests | 280 | €176,710 | €176,710 | = | 0.0% |
| Current assets | 29/58 | €29,863,711 | €38,305,878 | +€8.4m | +28.3% |
| Stocks and contracts in progress | 3 | €13,867,021 | €19,244,002 | +€5.4m | +38.8% |
| Stocks | 30/36 | €13,867,021 | €19,244,002 | +€5.4m | +38.8% |
| Raw materials and consumables | 30/31 | €255,052 | €484,892 | +€229,840 | +90.1% |
| Work in progress | 32 | €13,041,930 | €18,112,272 | +€5.1m | +38.9% |
| Finished goods | 33 | €570,039 | €646,838 | +€76,799 | +13.5% |
| Amounts receivable within one year | 40/41 | €14,649,298 | €17,628,752 | +€3.0m | +20.3% |
| Trade receivables | 40 | €7,331,322 | €9,277,899 | +€1.9m | +26.6% |
| Other amounts receivable | 41 | €7,317,975 | €8,350,853 | +€1.0m | +14.1% |
| Cash at bank and in hand | 54/58 | €792,017 | €562,855 | -€229,162 | -28.9% |
| Deferred charges and accrued income | 490/1 | €555,376 | €870,269 | +€314,893 | +56.7% |
| Total equity and liabilities | 10/49 | €51,164,447 | €57,649,489 | +€6.5m | +12.7% |
| Equity | 10/15 | €26,041,480 | €26,093,775 | +€52,295 | +0.2% |
| Contributions | 10/11 | €695,000 | €695,000 | = | 0.0% |
| Capital | 10 | €695,000 | €695,000 | = | 0.0% |
| Issued capital | 100 | €695,000 | €695,000 | = | 0.0% |
| Reserves | 13 | €7,063,169 | €6,087,734 | -€975,435 | -13.8% |
| Non-distributable reserves | 130/1 | €69,500 | €69,500 | = | 0.0% |
| Legal reserve | 130 | €69,500 | €69,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,675,890 | €5,700,455 | -€975,435 | -14.6% |
| Distributable reserves | 133 | €317,779 | €317,779 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,548,925 | €17,769,939 | +€1.2m | +7.4% |
| Investment grants | 15 | €1,734,386 | €1,541,102 | -€193,284 | -11.1% |
| Provisions and deferred taxes | 16 | €4,837,891 | €4,126,377 | -€711,514 | -14.7% |
| Deferred taxes | 168 | €4,837,891 | €4,126,377 | -€711,514 | -14.7% |
| Amounts payable | 17/49 | €20,285,076 | €27,429,337 | +€7.1m | +35.2% |
| Amounts payable after more than one year | 17 | €9,078 | €0 | -€9,078 | -100% |
| Financial debts | 170/4 | €9,078 | €0 | -€9,078 | -100% |
| Leasing and similar obligations | 172 | €9,078 | €0 | -€9,078 | -100% |
| Amounts payable within one year | 42/48 | €20,063,336 | €27,122,301 | +€7.1m | +35.2% |
| Current portion of amounts payable after more than one year | 42 | €23,043 | €0 | -€23,043 | -100% |
| Financial debts | 43 | €8,601,732 | €10,242,931 | +€1.6m | +19.1% |
| Credit institutions | 430/8 | €8,601,732 | €10,242,931 | +€1.6m | +19.1% |
| Trade debts | 44 | €7,809,217 | €12,299,479 | +€4.5m | +57.5% |
| Suppliers | 440/4 | €7,809,217 | €12,299,479 | +€4.5m | +57.5% |
| Taxes, remuneration and social security | 45 | €544,181 | €1,031,108 | +€486,927 | +89.5% |
| Taxes | 450/3 | €58,398 | €498,861 | +€440,463 | +754% |
| Remuneration and social security | 454/9 | €485,783 | €532,248 | +€46,464 | +9.6% |
| Other amounts payable | 47/48 | €3,085,163 | €3,548,783 | +€463,621 | +15.0% |
| Accrued charges and deferred income | 492/3 | €212,662 | €307,036 | +€94,374 | +44.4% |
| Operating income | 70/76A | €57,581,046 | €91,621,994 | +€34.0m | +59.1% |
| Turnover | 70 | €53,854,895 | €84,212,105 | +€30.4m | +56.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,392,730 | €5,147,141 | +€3.8m | +270% |
| Other operating income | 74 | €2,178,826 | €2,262,648 | +€83,821 | +3.8% |
| Non-recurring operating income | 76A | €154,595 | €100 | -€154,495 | -99.9% |
| Operating charges | 60/66A | €58,420,575 | €91,102,071 | +€32.7m | +55.9% |
| Goods for resale, raw materials and consumables | 60 | €48,198,772 | €73,303,355 | +€25.1m | +52.1% |
| Purchases | 600/8 | €48,147,471 | €73,533,195 | +€25.4m | +52.7% |
| Change in stocks: decrease (increase) | 609 | €51,301 | -€229,840 | -€281,141 | |
| Services and other goods | 61 | €4,322,953 | €7,513,222 | +€3.2m | +73.8% |
| Remuneration, social security and pensions | 62 | €3,541,165 | €6,018,697 | +€2.5m | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,732,587 | €3,138,690 | +€1.4m | +81.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €625,099 | €1,128,106 | +€503,007 | +80.5% |
| Non-recurring operating charges | 66A | €0 | €1 | +€1 | +7,700% |
| Operating profit (loss) | 9901 | -€839,528 | €519,923 | +€1.4m | |
| Financial income | 75/76B | €395,312 | €675,048 | +€279,735 | +70.8% |
| Recurring financial income | 75 | €395,312 | €675,048 | +€279,735 | +70.8% |
| Income from current assets | 751 | €280,236 | €476,428 | +€196,192 | +70.0% |
| Other financial income | 752/9 | €115,076 | €198,620 | +€83,544 | +72.6% |
| Financial charges | 65/66B | €672,439 | €870,820 | +€198,382 | +29.5% |
| Recurring financial charges | 65 | €672,439 | €870,820 | +€198,382 | +29.5% |
| Debt charges | 650 | €222,458 | €751,067 | +€528,609 | +238% |
| Other financial charges | 652/9 | €449,980 | €119,753 | -€330,227 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,116,655 | €324,150 | +€1.4m | |
| Transfer from deferred taxes | 780 | €437,064 | €711,514 | +€274,450 | +62.8% |
| Income taxes | 67/77 | €117,199 | €490,085 | +€372,887 | +318% |
| Taxes | 670/3 | €117,199 | €490,085 | +€372,887 | +318% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€796,790 | €545,579 | +€1.3m | |
| Transfer from tax-exempt reserves | 789 | €616,826 | €975,435 | +€358,609 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€179,963 | €1,521,014 | +€1.7m |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 30 September 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.