Société Financière des Sucres: 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
Société Financière des Sucres
NACE 46.180, Agents specialised in the wholesale of other particular products
fiscal year 2022 against 2023filed annual accounts (NBB)
Net result for the year
€16.8m
2022 · €24.3m-€7.5m
Equity
-
2022 · €439.0m-€439.0m
Cash
€11.9m
2022 · €42.6m-€30.7m
Balance sheet total
€479.0m
2022 · €453.3m+€25.7m
Largest movements
Assets
- Cash -€30.7m
down €30.7m (-72.0%), from €42.6m to €11.9m
mainly Investment in fixed assets (net) (-€26.8m) and Receivables after one year (-€20.0m)
- Financial fixed assets +€26.8m
up €26.8m (+7.3%), from €367.8m to €394.6m
of which Affiliated companies: +€36.6m
- Receivables after one year +€20.0m
new in 2023: €20.0m
- Receivables within one year +€10.9m
up €10.9m (+29.2%), from €37.4m to €48.2m
of which Other amounts receivable: +€8.7m
Equity and liabilities
- Short-term financial debts +€20.0m
new in 2023: €20.0m
- Profit (loss) carried forward +€6.2m
up €6.2m (+14.8%), from €41.9m to €48.1m
Income statement
- Turnover +€5.9m
up €5.9m (+56.8%), from €10.4m to €16.3m
- Financial charges +€4.7m
up €4.7m (+590.9%), from €795,014 to €5.5m
of which Financial charges: +€3.9m
- Goods and materials +€4.7m
up €4.7m (+62.3%), from €7.5m to €12.1m
- Taxes -€1.4m
down €1.4m, from €1.1m to -€232,306
- Services and other goods +€867,356
up €867,356 (+49.1%), from €1.8m to €2.6m
From the 2022 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 2022
€24.3m
Turnover
+€5.9m
Other operating income
-€6,475
Goods and materials
-€4.7m
Services and other goods
-€867,356
Staff costs
-€206,195
Depreciation
-€5,527
Write-downs
-€13,879
Other operating charges
+€32,680
Other operating items
+€23,851
Financial income
-€4.5m
Financial charges
-€4.7m
Other financial items
+€210,769
Taxes
+€1.4m
Result 2023
€16.8m
Cash bridge derived
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€14.8m
Investment
-€25.6m
Financing
+€9.7m
Cash 2022
€42.6m
From operations (derived)
-€14.8m
Net result for the year
+€16.8m
Depreciation
+€215,464
Receivables after one year
-€20.0m
Receivables within one year
-€10.9m
Deferred charges and accrued income
-€79,949
Smaller working-capital items
-€7,144
Tax, wage and social debts
-€418,249
Other debts
-€451,716
Investment (derived)
-€25.6m
Investment in fixed assets (net)
-€26.8m
Current investments
+€1.3m
Financing
+€9.7m
Short-term financial debts
+€20.0m
Contributions, distributions and other
-€10.3m
Cash 2023
€11.9m
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €453,330,177 | €479,004,112 | +€25.7m | +5.7% |
| Fixed assets | 21/28 | €371,074,526 | €397,691,993 | +€26.6m | +7.2% |
| Intangible fixed assets | 21 | €122,301 | €86,711 | -€35,590 | -29.1% |
| Tangible fixed assets | 22/27 | €3,162,622 | €2,991,958 | -€170,664 | -5.4% |
| Land and buildings | 22 | €3,063,453 | €2,942,986 | -€120,467 | -3.9% |
| Furniture and vehicles | 24 | €99,169 | €48,972 | -€50,197 | -50.6% |
| Financial fixed assets | 28 | €367,789,603 | €394,613,324 | +€26.8m | +7.3% |
| Affiliated companies | 280/1 | €239,007,302 | €275,612,019 | +€36.6m | +15.3% |
| Participating interests | 280 | €239,007,302 | €275,612,019 | +€36.6m | +15.3% |
| Other financial fixed assets | 284/8 | €128,782,301 | €119,001,305 | -€9.8m | -7.6% |
| Shares | 284 | €128,782,301 | €119,001,305 | -€9.8m | -7.6% |
| Current assets | 29/58 | €82,255,651 | €81,312,119 | -€943,532 | -1.1% |
| Amounts receivable after more than one year | 29 | - | €20,000,000 | +€20.0m | |
| Other amounts receivable | 291 | - | €20,000,000 | +€20.0m | |
| Amounts receivable within one year | 40/41 | €37,354,600 | €48,248,757 | +€10.9m | +29.2% |
| Trade receivables | 40 | €4,984,626 | €7,187,262 | +€2.2m | +44.2% |
| Other amounts receivable | 41 | €32,369,974 | €41,061,495 | +€8.7m | +26.9% |
| Current investments | 50/53 | €1,250,000 | - | -€1.3m | |
| Other investments | 51/53 | €1,250,000 | - | -€1.3m | |
| Cash at bank and in hand | 54/58 | €42,593,528 | €11,925,890 | -€30.7m | -72.0% |
| Deferred charges and accrued income | 490/1 | €1,057,523 | €1,137,472 | +€79,949 | +7.6% |
| Total equity and liabilities | 10/49 | €453,330,177 | €479,004,112 | +€25.7m | +5.7% |
| Equity | 10/15 | €438,968,643 | - | -€439.0m | |
| Contributions | 10/11 | €1,785,600 | €1,785,600 | = | 0.0% |
| Capital | 10 | €1,785,600 | €1,785,600 | = | 0.0% |
| Issued capital | 100 | €1,785,600 | €1,785,600 | = | 0.0% |
| Revaluation surpluses | 12 | €10,162 | €10,162 | = | 0.0% |
| Reserves | 13 | €395,286,946 | €395,623,747 | +€336,801 | +0.1% |
| Non-distributable reserves | 130/1 | €178,560 | €178,560 | = | 0.0% |
| Legal reserve | 130 | €178,560 | €178,560 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,820,788 | €15,478,669 | -€342,119 | -2.2% |
| Distributable reserves | 133 | €379,287,598 | €379,966,518 | +€678,920 | +0.2% |
| Profit (loss) carried forward | 14 | €41,885,935 | €48,100,178 | +€6.2m | +14.8% |
| Amounts payable | 17/49 | €14,361,534 | €33,484,425 | +€19.1m | +133.2% |
| Amounts payable after more than one year | 17 | €500 | €500 | = | 0.0% |
| Other amounts payable | 178/9 | €500 | €500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,327,358 | €33,459,750 | +€19.1m | +133.5% |
| Financial debts | 43 | - | €20,000,000 | +€20.0m | |
| Credit institutions | 430/8 | - | €20,000,000 | +€20.0m | |
| Trade debts | 44 | €1,678,404 | €1,680,761 | +€2,357 | +0.1% |
| Suppliers | 440/4 | €1,678,404 | €1,680,761 | +€2,357 | +0.1% |
| Taxes, remuneration and social security | 45 | €1,006,977 | €588,728 | -€418,249 | -41.5% |
| Taxes | 450/3 | €696,531 | €308,769 | -€387,762 | -55.7% |
| Remuneration and social security | 454/9 | €310,446 | €279,959 | -€30,487 | -9.8% |
| Other amounts payable | 47/48 | €11,641,977 | €11,190,261 | -€451,716 | -3.9% |
| Accrued charges and deferred income | 492/3 | €33,676 | €24,175 | -€9,501 | -28.2% |
| Operating income | 70/76A | €11,545,553 | €17,456,451 | +€5.9m | +51.2% |
| Turnover | 70 | €10,376,012 | €16,269,534 | +€5.9m | +56.8% |
| Other operating income | 74 | €1,159,541 | €1,153,066 | -€6,475 | -0.6% |
| Non-recurring operating income | 76A | €10,000 | €33,851 | +€23,851 | +238.5% |
| Operating charges | 60/66A | €11,383,853 | €17,096,301 | +€5.7m | +50.2% |
| Goods for resale, raw materials and consumables | 60 | €7,462,471 | €12,114,642 | +€4.7m | +62.3% |
| Services and other goods | 61 | €1,767,746 | €2,635,102 | +€867,356 | +49.1% |
| Remuneration, social security and pensions | 62 | €1,762,586 | €1,968,781 | +€206,195 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,937 | €215,464 | +€5,527 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,879 | +€13,879 | |
| Other operating charges | 640/8 | €181,113 | €148,433 | -€32,680 | -18.0% |
| Operating profit (loss) | 9901 | €161,700 | €360,150 | +€198,450 | +122.7% |
| Recurring financial income | 75 | €24,642,319 | €20,105,588 | -€4.5m | -18.4% |
| Income from financial fixed assets | 750 | €21,949,101 | €11,864,956 | -€10.1m | -45.9% |
| Income from current assets | 751 | €653,838 | €1,728,176 | +€1.1m | +164.3% |
| Other financial income | 752/9 | €2,039,380 | €6,512,456 | +€4.5m | +219.3% |
| Non-recurring financial income | 76B | €1,420,816 | €1,631,585 | +€210,769 | +14.8% |
| Financial charges | 65/66B | €795,014 | €5,492,872 | +€4.7m | +590.9% |
| Recurring financial charges | 65 | €148,745 | €4,036,197 | +€3.9m | +2613.5% |
| Debt charges | 650 | - | €367,172 | +€367,172 | |
| Other financial charges | 652/9 | €148,745 | €3,669,025 | +€3.5m | +2366.7% |
| Non-recurring financial charges | 66B | €646,269 | €1,456,675 | +€810,406 | +125.4% |
| Profit (loss) for the period before taxes | 9903 | €25,429,821 | €16,604,451 | -€8.8m | -34.7% |
| Income taxes | 67/77 | €1,123,529 | -€232,306 | -€1.4m | |
| Taxes | 670/3 | €1,169,191 | €634,635 | -€534,556 | -45.7% |
| Tax adjustments and reversals of tax provisions | 77 | €45,662 | €866,941 | +€821,279 | +1798.6% |
| Profit (loss) for the period | 9904 | €24,306,292 | €16,836,757 | -€7.5m | -30.7% |
| Transfer from tax-exempt reserves | 789 | €721,900 | €678,920 | -€42,980 | -6.0% |
| Transfer to tax-exempt reserves | 689 | €1,999,750 | €336,800 | -€1.7m | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,028,442 | €17,178,877 | -€5.8m | -25.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2022 and 31 March 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.