VALUE TRADING: 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
VALUE TRADING
NACE 46.820, Wholesale trade
financial year 2021 against 2024not consecutivefiled annual accounts (NBB)
Net result for the year
-€1.1m
2021 · €284,708-€1.4m
Equity
-€3.3m
2021 · €533,163-€3.9m
Cash
€1.0m
2021 · €1.6m-€573,754
Balance sheet total
€2.6m
2021 · €172.2m-€169.6m
Largest movements
Assets
- Receivables within one year -€165.3m
down €165.3m (-99.2%), from €166.7m to €1.4m
of which Trade receivables: -€162.9m
- Stocks and contracts -€3.8m
down €3.8m (-100.0%), from €3.8m to €0
Equity and liabilities
- Trade debts -€158.3m
down €158.3m (-98.5%), from €160.7m to €2.4m
- Other debts -€7.7m
down €7.7m (-98.5%), from €7.9m to €118,712
- Profit (loss) carried forward -€3.9m
down €3.9m, from €520,763 to -€3.3m
Income statement
- Turnover +€153.4m
new in 2024: €153.4m
- Goods and materials +€152.4m
new in 2024: €152.4m
of which Purchases: +€151.0m
- Services and other goods +€2.3m
new in 2024: €2.3m
From the 2021 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 2021
€284,708
Turnover
+€153.4m
Other operating income
+€98
Goods and materials
-€152.4m
Services and other goods
-€2.3m
Staff costs
-€354,133
Depreciation
-€15,402
Other operating charges
-€20
Other operating items
-€381,342
Financial income
+€574,548
Financial charges
-€37,408
Taxes
+€94,522
Result 2024
-€1.1m
Cash bridge derived
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 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €172,194,212 | €2,613,083 | -€169.6m | -98.5% |
| Fixed assets | 21/28 | €109,818 | €191,665 | +€81,847 | +74.5% |
| Tangible fixed assets | 22/27 | €109,818 | €191,665 | +€81,847 | +74.5% |
| Plant, machinery and equipment | 23 | €109,818 | €191,665 | +€81,847 | +74.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €172,084,394 | €2,421,417 | -€169.7m | -98.6% |
| Stocks and contracts in progress | 3 | €3,824,074 | €0 | -€3.8m | -100.0% |
| Stocks | 30/36 | €3,824,074 | €0 | -€3.8m | -100.0% |
| Goods purchased for resale | 34 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €166,669,571 | €1,404,422 | -€165.3m | -99.2% |
| Trade receivables | 40 | €164,264,046 | €1,401,982 | -€162.9m | -99.1% |
| Other amounts receivable | 41 | €2,405,525 | €2,441 | -€2.4m | -99.9% |
| Cash at bank and in hand | 54/58 | €1,590,749 | €1,016,995 | -€573,754 | -36.1% |
| Total equity and liabilities | 10/49 | €172,194,212 | €2,613,083 | -€169.6m | -98.5% |
| Equity | 10/15 | €533,163 | -€3,318,549 | -€3.9m | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €520,763 | -€3,330,949 | -€3.9m | |
| Amounts payable | 17/49 | €171,661,048 | €5,931,632 | -€165.7m | -96.5% |
| Amounts payable after more than one year | 17 | €2,546,050 | €3,276,426 | +€730,376 | +28.7% |
| Financial debts | 170/4 | €2,546,050 | €3,276,426 | +€730,376 | +28.7% |
| Subordinated loans | 170 | - | €3,276,426 | +€3.3m | |
| Amounts payable within one year | 42/48 | €168,818,039 | €2,655,206 | -€166.2m | -98.4% |
| Trade debts | 44 | €160,725,316 | €2,411,964 | -€158.3m | -98.5% |
| Suppliers | 440/4 | €160,725,316 | €2,411,964 | -€158.3m | -98.5% |
| Advances received on contracts in progress | 46 | €4,416 | €0 | -€4,416 | -100.0% |
| Taxes, remuneration and social security | 45 | €223,385 | €124,530 | -€98,856 | -44.3% |
| Taxes | 450/3 | €82,064 | €94,522 | +€12,459 | +15.2% |
| Remuneration and social security | 454/9 | €141,322 | €30,007 | -€111,314 | -78.8% |
| Other amounts payable | 47/48 | €7,864,921 | €118,712 | -€7.7m | -98.5% |
| Accrued charges and deferred income | 492/3 | €296,960 | - | -€296,960 | |
| Operating income | 70/76A | - | €153,423,761 | +€153.4m | |
| Turnover | 70 | - | €153,423,662 | +€153.4m | |
| Other operating income | 74 | - | €98 | +€98 | |
| Operating charges | 60/66A | - | €155,472,342 | +€155.5m | |
| Goods for resale, raw materials and consumables | 60 | - | €152,435,985 | +€152.4m | |
| Purchases | 600/8 | - | €151,035,303 | +€151.0m | |
| Change in stocks: decrease (increase) | 609 | - | €1,400,682 | +€1.4m | |
| Services and other goods | 61 | - | €2,262,643 | +€2.3m | |
| Remuneration, social security and pensions | 62 | €397,239 | €751,372 | +€354,133 | +89.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,321 | €21,724 | +€15,402 | +243.7% |
| Other operating charges | 640/8 | €599 | €619 | +€20 | +3.4% |
| Gross operating margin | 9900 | €381,342 | - | -€381,342 | |
| Operating profit (loss) | 9901 | -€22,817 | -€2,048,581 | -€2.0m | -8878.2% |
| Financial income | 75/76B | €402,064 | €976,612 | +€574,548 | +142.9% |
| Recurring financial income | 75 | €402,064 | €976,612 | +€574,548 | +142.9% |
| Other financial income | 752/9 | - | €976,612 | +€976,612 | |
| Financial charges | 65/66B | €16 | €37,424 | +€37,408 | +232350.1% |
| Recurring financial charges | 65 | €16 | €37,424 | +€37,408 | +232350.1% |
| Debt charges | 650 | - | €0 | = | |
| Other financial charges | 652/9 | - | €37,424 | +€37,424 | |
| Profit (loss) for the period before taxes | 9903 | €379,230 | -€1,109,394 | -€1.5m | |
| Income taxes | 67/77 | €94,522 | €0 | -€94,522 | -100.0% |
| Taxes | 670/3 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €284,708 | -€1,109,394 | -€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €284,708 | -€1,109,394 | -€1.4m |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.