ECOFROST: what changed
Two fiscal 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
ECOFROST
NACE 10.311, Manufacture of food products
fiscal year 2022 against 2024not consecutivefiled annual accounts (NBB)
Net result for the year
€102.5m
2022 · €1.7m+€100.8m
Equity
€158.1m
2022 · €56.2m+€101.9m
Cash
€44.4m
2022 · €11.8m+€32.6m
Balance sheet total
€279.1m
2022 · €109.0m+€170.1m
Largest movements
Assets
- Current investments +€48.0m
new in 2024: €48.0m
- Tangible fixed assets +€42.5m
up €42.5m (+188.0%), from €22.6m to €65.1m
of which Plant, machinery and equipment: +€29.9m
- Cash +€32.6m
up €32.6m (+276.5%), from €11.8m to €44.4m
- Stocks and contracts +€22.5m
up €22.5m (+205.5%), from €10.9m to €33.4m
- Receivables within one year +€14.7m
up €14.7m (+23.1%), from €63.5m to €78.2m
of which Trade receivables: +€12.4m
Equity and liabilities
- Profit (loss) carried forward +€103.4m
up €103.4m (+632.6%), from €16.3m to €119.8m
- Debts after one year +€46.2m
up €46.2m (+710.4%), from €6.5m to €52.7m
- Trade debts +€24.3m
up €24.3m (+67.0%), from €36.2m to €60.5m
- Tax, wage and social debts +€3.9m
up €3.9m (+311.7%), from €1.3m to €5.2m
of which Taxes: +€3.7m
- Current portion of long-term debt -€3.6m
down €3.6m (-65.5%), from €5.4m to €1.9m
Income statement
- Turnover +€394.7m
up €394.7m (+210.6%), from €187.4m to €582.1m
- Goods and materials +€169.6m
up €169.6m (+157.7%), from €107.5m to €277.1m
of which Purchases: +€168.6m
- Services and other goods +€88.8m
up €88.8m (+128.7%), from €69.0m to €157.9m
- Taxes +€37.5m
up €37.5m (+2629.8%), from €1.4m to €39.0m
of which Taxes: +€37.6m
- Staff costs +€9.0m
up €9.0m (+157.3%), from €5.7m to €14.7m
From the 2022 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.
Result 2022
€1.7m
Turnover
+€394.7m
Other operating income
+€490,417
Goods and materials
-€169.6m
Services and other goods
-€88.8m
Staff costs
-€9.0m
Depreciation
-€6.5m
Write-downs
-€4,940
Provisions
-€337,305
Other operating charges
-€365,134
Other operating items
+€20.8m
Financial income
-€1.1m
Financial charges
-€2.1m
Taxes
-€37.5m
Deferred taxes and other
+€137,529
Result 2024
€102.5m
Cash bridge derived
A cash bridge needs two consecutive fiscal 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 | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,991,051 | €279,092,132 | +€170.1m | +156.1% |
| Fixed assets | 21/28 | €22,622,968 | €74,138,826 | +€51.5m | +227.7% |
| Intangible fixed assets | 21 | €1,991 | €676 | -€1,316 | -66.1% |
| Tangible fixed assets | 22/27 | €22,620,977 | €65,138,150 | +€42.5m | +188.0% |
| Land and buildings | 22 | €9,299,194 | €15,296,361 | +€6.0m | +64.5% |
| Plant, machinery and equipment | 23 | €10,483,709 | €40,359,908 | +€29.9m | +285.0% |
| Furniture and vehicles | 24 | €121,540 | €515,826 | +€394,285 | +324.4% |
| Leasing and similar rights | 25 | €2,716,533 | €4,455,473 | +€1.7m | +64.0% |
| Assets under construction and advance payments | 27 | - | €4,510,582 | +€4.5m | |
| Financial fixed assets | 28 | - | €9,000,000 | +€9.0m | |
| Affiliated companies | 280/1 | - | €9,000,000 | +€9.0m | |
| Participating interests | 280 | - | €9,000,000 | +€9.0m | |
| Current assets | 29/58 | €86,368,083 | €204,953,306 | +€118.6m | +137.3% |
| Stocks and contracts in progress | 3 | €10,939,171 | €33,423,022 | +€22.5m | +205.5% |
| Stocks | 30/36 | €10,939,171 | €33,423,022 | +€22.5m | +205.5% |
| Raw materials and consumables | 30/31 | €3,169,430 | €3,138,436 | -€30,994 | -1.0% |
| Finished goods | 33 | €7,769,741 | €30,284,586 | +€22.5m | +289.8% |
| Amounts receivable within one year | 40/41 | €63,540,659 | €78,245,929 | +€14.7m | +23.1% |
| Trade receivables | 40 | €39,563,662 | €51,945,842 | +€12.4m | +31.3% |
| Other amounts receivable | 41 | €23,976,997 | €26,300,087 | +€2.3m | +9.7% |
| Current investments | 50/53 | - | €48,000,000 | +€48.0m | |
| Other investments | 51/53 | - | €48,000,000 | +€48.0m | |
| Cash at bank and in hand | 54/58 | €11,799,337 | €44,423,010 | +€32.6m | +276.5% |
| Deferred charges and accrued income | 490/1 | €88,917 | €861,344 | +€772,428 | +868.7% |
| Total equity and liabilities | 10/49 | €108,991,051 | €279,092,132 | +€170.1m | +156.1% |
| Equity | 10/15 | €56,185,776 | €158,109,822 | +€101.9m | +181.4% |
| Contributions | 10/11 | €1,860,000 | €1,860,000 | = | 0.0% |
| Capital | 10 | €1,860,000 | €1,860,000 | = | 0.0% |
| Issued capital | 100 | €1,860,000 | €1,860,000 | = | 0.0% |
| Reserves | 13 | €32,786,324 | €31,890,237 | -€896,087 | -2.7% |
| Non-distributable reserves | 130/1 | €186,000 | €186,000 | = | 0.0% |
| Legal reserve | 130 | €186,000 | €186,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,450,324 | €31,554,237 | -€896,087 | -2.8% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,349,071 | €119,767,684 | +€103.4m | +632.6% |
| Investment grants | 15 | €5,190,381 | €4,591,902 | -€598,479 | -11.5% |
| Provisions and deferred taxes | 16 | €1,023,022 | €709,134 | -€313,888 | -30.7% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €1,023,022 | €709,134 | -€313,888 | -30.7% |
| Amounts payable | 17/49 | €51,782,254 | €120,273,175 | +€68.5m | +132.3% |
| Amounts payable after more than one year | 17 | €6,499,809 | €52,673,532 | +€46.2m | +710.4% |
| Financial debts | 170/4 | €6,499,809 | €52,673,532 | +€46.2m | +710.4% |
| Leasing and similar obligations | 172 | €4,698,266 | €4,416,389 | -€281,877 | -6.0% |
| Credit institutions | 173 | €1,801,543 | €48,257,143 | +€46.5m | +2578.7% |
| Amounts payable within one year | 42/48 | €45,196,737 | €67,544,025 | +€22.3m | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €5,424,571 | €1,873,170 | -€3.6m | -65.5% |
| Financial debts | 43 | €1,600,000 | €0 | -€1.6m | -100.0% |
| Credit institutions | 430/8 | €1,600,000 | €0 | -€1.6m | -100.0% |
| Trade debts | 44 | €36,221,500 | €60,475,108 | +€24.3m | +67.0% |
| Suppliers | 440/4 | €36,221,500 | €60,475,108 | +€24.3m | +67.0% |
| Advances received on contracts in progress | 46 | €572,429 | €0 | -€572,429 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,261,998 | €5,195,747 | +€3.9m | +311.7% |
| Taxes | 450/3 | €476,887 | €4,168,717 | +€3.7m | +774.2% |
| Remuneration and social security | 454/9 | €785,111 | €1,027,031 | +€241,920 | +30.8% |
| Other amounts payable | 47/48 | €116,240 | €0 | -€116,240 | -100.0% |
| Accrued charges and deferred income | 492/3 | €85,708 | €55,618 | -€30,089 | -35.1% |
| Operating income | 70/76A | €188,723,486 | €605,711,133 | +€417.0m | +221.0% |
| Turnover | 70 | €187,401,002 | €582,103,122 | +€394.7m | +210.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,017,189 | €22,514,845 | +€21.5m | +2113.4% |
| Other operating income | 74 | €305,295 | €795,712 | +€490,417 | +160.6% |
| Non-recurring operating income | 76A | - | €297,454 | +€297,454 | |
| Operating charges | 60/66A | €188,973,242 | €464,576,617 | +€275.6m | +145.8% |
| Goods for resale, raw materials and consumables | 60 | €107,516,395 | €277,068,229 | +€169.6m | +157.7% |
| Purchases | 600/8 | €108,417,783 | €277,037,235 | +€168.6m | +155.5% |
| Change in stocks: decrease (increase) | 609 | -€901,389 | €30,994 | +€932,383 | |
| Services and other goods | 61 | €69,011,445 | €157,855,137 | +€88.8m | +128.7% |
| Remuneration, social security and pensions | 62 | €5,706,715 | €14,683,141 | +€9.0m | +157.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,628,086 | €13,166,512 | +€6.5m | +98.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,940 | €0 | +€4,940 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€337,305 | €0 | +€337,305 | |
| Other operating charges | 640/8 | €452,848 | €817,982 | +€365,134 | +80.6% |
| Non-recurring operating charges | 66A | - | €985,616 | +€985,616 | |
| Operating profit (loss) | 9901 | -€249,756 | €141,134,516 | +€141.4m | |
| Financial income | 75/76B | €3,744,843 | €2,624,411 | -€1.1m | -29.9% |
| Recurring financial income | 75 | €3,744,843 | €2,624,411 | -€1.1m | -29.9% |
| Income from current assets | 751 | €0 | €1,403,675 | +€1.4m | |
| Other financial income | 752/9 | €3,744,843 | €1,220,736 | -€2.5m | -67.4% |
| Financial charges | 65/66B | €526,566 | €2,585,565 | +€2.1m | +391.0% |
| Recurring financial charges | 65 | €526,566 | €2,585,565 | +€2.1m | +391.0% |
| Debt charges | 650 | €140,326 | €1,387,116 | +€1.2m | +888.5% |
| Other financial charges | 652/9 | €386,240 | €1,198,449 | +€812,210 | +210.3% |
| Profit (loss) for the period before taxes | 9903 | €2,968,521 | €141,173,361 | +€138.2m | +4655.7% |
| Transfer from deferred taxes | 780 | €176,359 | €313,888 | +€137,529 | +78.0% |
| Income taxes | 67/77 | €1,427,398 | €38,964,723 | +€37.5m | +2629.8% |
| Taxes | 670/3 | €1,427,398 | €39,058,032 | +€37.6m | +2636.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €93,308 | +€93,308 | |
| Profit (loss) for the period | 9904 | €1,717,482 | €102,522,526 | +€100.8m | +5869.4% |
| Transfer from tax-exempt reserves | 789 | €524,840 | €896,087 | +€371,248 | +70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,242,322 | €103,418,613 | +€101.2m | +4512.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2022 and 31 March 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.