PALMAZOUT: 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
PALMAZOUT
NACE 46.810, Wholesale of solid, liquid and gaseous fuels and related products
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€361,602
2023 · €219,880+€141,722
Equity
€1.3m
2023 · €906,734+€361,602
Cash
€648,907
2023 · €226,323+€422,584
Balance sheet total
€3.0m
2023 · €2.7m+€332,955
Largest movements
Assets
- Cash +€422,584
up €422,584 (+187%), from €226,323 to €648,907
mainly Net result for the year (+€361,602) and Receivables within one year (+€162,789)
- Receivables within one year -€162,789
down €162,789 (-8.6%), from €1.9m to €1.7m
of which Trade receivables: -€251,086
- Stocks and contracts +€68,862
up €68,862 (+29.9%), from €230,086 to €298,947
Equity and liabilities
- Reserves +€326,290
up €326,290 (+44.5%), from €732,930 to €1.1m
of which Tax-exempt reserves: +€206,290
- Profit (loss) carried forward +€35,312
up €35,312 (+22.8%), from €155,212 to €190,524
Income statement
- Gross operating margin +€502,020
up €502,020 (+100%), from €500,507 to €1.0m
- Financial income -€302,311
down €302,311 (-99.7%), from €303,126 to €815
of which Non-recurring financial income: -€295,017
- Taxes +€125,190
up €125,190 (+2,292%), from €5,462 to €130,652
- Write-downs -€27,227
no longer reported in 2024 (was €27,227)
- Other operating charges +€17,697
up €17,697 (+115%), from €15,436 to €33,133
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.
Result 2023
€219,880
Gross operating margin
+€502,020
Staff costs
-€3,930
Depreciation
-€1,545
Write-downs
+€27,227
Other operating charges
-€17,697
Financial income
-€302,311
Financial charges
-€2,532
Taxes
-€125,190
Deferred taxes and other
+€65,681
Result 2024
€361,602
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€523,005
Investment
-€123,251
Financing
+€22,830
Cash 2023
€226,323
From operations (derived)
+€523,005
Net result for the year
+€361,602
Depreciation
+€126,455
Stocks and contracts
-€68,862
Receivables within one year
+€162,789
Deferred charges and accrued income
-€7,501
Trade debts
-€27,717
Tax, wage and social debts
-€22,592
Other debts
-€1,169
Investment (derived)
-€123,251
Investment in fixed assets (net)
-€123,251
Financing
+€22,830
Debts after one year
+€14,377
Current portion of long-term debt
-€4,443
Short-term financial debts
+€12,896
Cash 2024
€648,907
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,655,478 | €2,988,432 | +€332,955 | +12.5% |
| Fixed assets | 21/28 | €297,065 | €293,862 | -€3,204 | -1.1% |
| Intangible fixed assets | 21 | €69,863 | €49,863 | -€20,000 | -28.6% |
| Tangible fixed assets | 22/27 | €227,153 | €243,949 | +€16,796 | +7.4% |
| Land and buildings | 22 | €58,929 | €52,401 | -€6,529 | -11.1% |
| Plant, machinery and equipment | 23 | €4,044 | €22,936 | +€18,892 | +467% |
| Furniture and vehicles | 24 | €164,179 | €168,612 | +€4,433 | +2.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €2,358,412 | €2,694,571 | +€336,159 | +14.3% |
| Stocks and contracts in progress | 3 | €230,086 | €298,947 | +€68,862 | +29.9% |
| Stocks | 30/36 | €230,086 | €298,947 | +€68,862 | +29.9% |
| Amounts receivable within one year | 40/41 | €1,902,004 | €1,739,215 | -€162,789 | -8.6% |
| Trade receivables | 40 | €1,429,453 | €1,178,368 | -€251,086 | -17.6% |
| Other amounts receivable | 41 | €472,550 | €560,847 | +€88,297 | +18.7% |
| Cash at bank and in hand | 54/58 | €226,323 | €648,907 | +€422,584 | +187% |
| Deferred charges and accrued income | 490/1 | - | €7,501 | +€7,501 | |
| Total equity and liabilities | 10/49 | €2,655,478 | €2,988,432 | +€332,955 | +12.5% |
| Equity | 10/15 | €906,734 | €1,268,337 | +€361,602 | +39.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €732,930 | €1,059,220 | +€326,290 | +44.5% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €216,071 | €422,361 | +€206,290 | +95.5% |
| Distributable reserves | 133 | €515,000 | €636,859 | +€121,859 | +23.7% |
| Profit (loss) carried forward | 14 | €155,212 | €190,524 | +€35,312 | +22.8% |
| Provisions and deferred taxes | 16 | €65,681 | €65,681 | = | 0.0% |
| Deferred taxes | 168 | €65,681 | €65,681 | = | 0.0% |
| Amounts payable | 17/49 | €1,683,062 | €1,654,415 | -€28,648 | -1.7% |
| Amounts payable after more than one year | 17 | €44,556 | €58,933 | +€14,377 | +32.3% |
| Financial debts | 170/4 | €44,556 | €58,933 | +€14,377 | +32.3% |
| Amounts payable within one year | 42/48 | €1,638,507 | €1,595,482 | -€43,025 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €63,993 | €59,550 | -€4,443 | -6.9% |
| Financial debts | 43 | €121,854 | €134,750 | +€12,896 | +10.6% |
| Credit institutions | 430/8 | €121,854 | €134,750 | +€12,896 | +10.6% |
| Trade debts | 44 | €1,221,786 | €1,194,068 | -€27,717 | -2.3% |
| Suppliers | 440/4 | €1,221,786 | €1,194,068 | -€27,717 | -2.3% |
| Taxes, remuneration and social security | 45 | €113,782 | €91,191 | -€22,592 | -19.9% |
| Taxes | 450/3 | €53,006 | €91,191 | +€38,185 | +72.0% |
| Remuneration and social security | 454/9 | €60,776 | - | -€60,776 | |
| Other amounts payable | 47/48 | €117,092 | €115,923 | -€1,169 | -1.0% |
| Non-recurring operating income | 76A | - | €9,510 | +€9,510 | |
| Remuneration, social security and pensions | 62 | €312,386 | €316,316 | +€3,930 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,910 | €126,455 | +€1,545 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,227 | - | -€27,227 | |
| Other operating charges | 640/8 | €15,436 | €33,133 | +€17,697 | +115% |
| Gross operating margin | 9900 | €500,507 | €1,002,527 | +€502,020 | +100% |
| Operating profit (loss) | 9901 | €20,548 | €526,622 | +€506,075 | +2,463% |
| Financial income | 75/76B | €303,126 | €815 | -€302,311 | -99.7% |
| Recurring financial income | 75 | €8,108 | €815 | -€7,294 | -90.0% |
| Non-recurring financial income | 76B | €295,017 | - | -€295,017 | |
| Financial charges | 65/66B | €32,650 | €35,182 | +€2,532 | +7.8% |
| Recurring financial charges | 65 | €23,151 | €35,182 | +€12,032 | +52.0% |
| Non-recurring financial charges | 66B | €9,500 | - | -€9,500 | |
| Profit (loss) for the period before taxes | 9903 | €291,023 | €492,254 | +€201,231 | +69.1% |
| Transfer to deferred taxes | 680 | €65,681 | - | -€65,681 | |
| Income taxes | 67/77 | €5,462 | €130,652 | +€125,190 | +2,292% |
| Profit (loss) for the period | 9904 | €219,880 | €361,602 | +€141,722 | +64.5% |
| Transfer to tax-exempt reserves | 689 | €197,043 | €206,290 | +€9,247 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,837 | €155,312 | +€132,475 | +580% |
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 16 October 2026 via checked.be.