Glacier Pirnay: what changed
Glacier Pirnay
Largest movements
- Cash -€22,969
down €22,969 (-28.6%), from €80,177 to €57,208
mainly Other debts (-€56,287) and Trade debts (-€10,614)
- Tangible fixed assets -€18,254
down €18,254 (-9.2%), from €198,643 to €180,389
of which Land and buildings: -€11,342
- Stocks and contracts -€6,217
down €6,217 (-60.3%), from €10,313 to €4,095
- Other debts -€56,287
down €56,287 (-86.6%), from €64,964 to €8,677
- Profit (loss) carried forward +€28,585
up €28,585 (+120%), from €23,804 to €52,390
- Trade debts -€10,614
down €10,614 (-54.0%), from €19,646 to €9,032
- Reserves -€7,267
down €7,267 (-6.1%), from €118,791 to €111,524
of which Tax-exempt reserves: -€7,267
- Tax, wage and social debts +€5,308
up €5,308 (+44.5%), from €11,924 to €17,232
of which Taxes: +€9,884
- Staff costs -€14,675
down €14,675 (-27.6%), from €53,211 to €38,536
- Taxes +€5,111
up €5,111 (+59.1%), from €8,650 to €13,761
- Gross operating margin -€3,758
down €3,758 (-3.4%), from €111,142 to €107,384
- Financial charges +€1,614
up €1,614 (+48.5%), from €3,329 to €4,943
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €311,037 | €263,085 | -€47,952 | -15.4% |
| Fixed assets | 21/28 | €214,882 | €194,128 | -€20,754 | -9.7% |
| Intangible fixed assets | 21 | €16,240 | €13,740 | -€2,500 | -15.4% |
| Tangible fixed assets | 22/27 | €198,643 | €180,389 | -€18,254 | -9.2% |
| Land and buildings | 22 | €122,181 | €110,839 | -€11,342 | -9.3% |
| Plant, machinery and equipment | 23 | €76,461 | €66,805 | -€9,656 | -12.6% |
| Furniture and vehicles | 24 | - | €2,744 | +€2,744 | |
| Current assets | 29/58 | €96,154 | €68,956 | -€27,198 | -28.3% |
| Stocks and contracts in progress | 3 | €10,313 | €4,095 | -€6,217 | -60.3% |
| Stocks | 30/36 | €10,313 | €4,095 | -€6,217 | -60.3% |
| Amounts receivable within one year | 40/41 | €5,665 | €6,734 | +€1,069 | +18.9% |
| Trade receivables | 40 | €4,111 | €5,747 | +€1,636 | +39.8% |
| Other amounts receivable | 41 | €1,554 | €987 | -€567 | -36.5% |
| Cash at bank and in hand | 54/58 | €80,177 | €57,208 | -€22,969 | -28.6% |
| Deferred charges and accrued income | 490/1 | - | €919 | +€919 | |
| Total equity and liabilities | 10/49 | €311,037 | €263,085 | -€47,952 | -15.4% |
| Equity | 10/15 | €147,595 | €168,914 | +€21,318 | +14.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,791 | €111,524 | -€7,267 | -6.1% |
| Tax-exempt reserves | 132 | €59,193 | €51,926 | -€7,267 | -12.3% |
| Distributable reserves | 133 | €59,598 | €59,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,804 | €52,390 | +€28,585 | +120% |
| Provisions and deferred taxes | 16 | €19,731 | €17,309 | -€2,422 | -12.3% |
| Deferred taxes | 168 | €19,731 | €17,309 | -€2,422 | -12.3% |
| Amounts payable | 17/49 | €143,710 | €76,862 | -€66,848 | -46.5% |
| Amounts payable after more than one year | 17 | €41,921 | €41,921 | = | 0.0% |
| Financial debts | 170/4 | €41,921 | €41,921 | = | 0.0% |
| Amounts payable within one year | 42/48 | €101,789 | €34,941 | -€66,848 | -65.7% |
| Current portion of amounts payable after more than one year | 42 | €5,254 | - | -€5,254 | |
| Trade debts | 44 | €19,646 | €9,032 | -€10,614 | -54.0% |
| Suppliers | 440/4 | €19,646 | €9,032 | -€10,614 | -54.0% |
| Taxes, remuneration and social security | 45 | €11,924 | €17,232 | +€5,308 | +44.5% |
| Taxes | 450/3 | €5,028 | €14,912 | +€9,884 | +197% |
| Remuneration and social security | 454/9 | €6,897 | €2,320 | -€4,576 | -66.4% |
| Other amounts payable | 47/48 | €64,964 | €8,677 | -€56,287 | -86.6% |
| Remuneration, social security and pensions | 62 | €53,211 | €38,536 | -€14,675 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,346 | €29,354 | +€8 | 0.0% |
| Other operating charges | 640/8 | €2,512 | €1,895 | -€618 | -24.6% |
| Gross operating margin | 9900 | €111,142 | €107,384 | -€3,758 | -3.4% |
| Operating profit (loss) | 9901 | €26,073 | €37,600 | +€11,527 | +44.2% |
| Financial charges | 65/66B | €3,329 | €4,943 | +€1,614 | +48.5% |
| Recurring financial charges | 65 | €3,329 | €4,943 | +€1,614 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | €22,743 | €32,657 | +€9,913 | +43.6% |
| Transfer from deferred taxes | 780 | €2,422 | €2,422 | = | 0.0% |
| Income taxes | 67/77 | €8,650 | €13,761 | +€5,111 | +59.1% |
| Profit (loss) for the period | 9904 | €16,516 | €21,318 | +€4,803 | +29.1% |
| Transfer from tax-exempt reserves | 789 | €7,267 | €7,267 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,783 | €28,585 | +€4,803 | +20.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.