Annual report 2024/25: a brief overview
View a brief overview of the Annual Report for the 2023/24 financial year and download the parts that interest you most.
Word from the Chairman
Chairman of the Board of Directors Jef Colruyt confirms the group's aim to continue creating added value in a sustainable way. "Together with employees, suppliers and financiers, for the customer and with the long term in mind. In this turbulent world, we want to be a valuable reference point, by consistently doing what we say and saying what we do."
Word from the CEO
CEO Stefan Goethaert agrees that the group is sticking to its long-term goals. "We will continue to invest to consistently pursue our strategy and further strengthen our position as the only remaining Belgian retailer. We will also work hard on the craftsmanship of employees, overall productivity and return on investment spending."
Word from the Chairman – Word from the CEO - Who are we? – Our strategy – Management report – Key figures
Who are we?
Colruyt Group is a Belgian family business that, over three generations, has grown into an international retail group with over 30.000 employees and more than 30 complementary business formats in the food, health and non-food sectors in Belgium and abroad. For more than fifty years now, our Colruyt supermarkets have been delivering on their promise of the lowest prices every day. Food retail, both in-store and online, is still our core business and accounts for around 80% of our revenue. In addition, we are also active in the wholesale and franchise sectors and in food service. The most recent growth area is health and well-being. Our renewable-energy operations are taken care of by Virya Energy, to which Colruyt Group remains a committed partner.
Shared values, complementary brands and sustainability
Each in their own, authentic way, our complementary brands express the ‘simplicity in retail’ that we represent as a group. In this way, each brand helps achieve our common mission. Each brand also embodies the same group values, a familiar foundation for ourselves, for our partners and customers. So everyone knows what we stand for and this creates trust.
As a value-driven company, we want to make a positive difference with everything we do. Sustainability therefore remains the common thread running through everything we undertake. We also always start with a positive view of people and invest in our employees. After all, as the people grow, our company will grow.
Word from the Chairman – Word from the CEO - Who are we? – Our strategy – Management report – Key figures
Activities
Colruyt Group operates in four specialist areas: Food, Health & Well-being, Non-food and Energy. We generate most of our turnover in Belgium, but we also have commercial operations in France and Luxembourg, plus support services in India.
Food
Food bundles all our physical and online food formats, aimed at both private consumers and professional wholesale customers, plus our own production operations. These activities accounted for 94,2% of total sales in financial year 2025/26.
Food retail bundles a dozen physical stores and webshops, mainly in Belgium, but also in Luxembourg.
Wholesale covers deliveries to independent food stores in Belgium (mainly Spar franchisees) and in France, as well as exports to Africa.
The Food service activities consist of supplying food items to the hospitality industry, businesses, schools, hospitals and care institutions, as well as supporting industrial kitchens.
Health and Well-being
We want to have a positive impact on everyone’s health. This includes building an ecosystem that takes a preventive approach to health and well-being. In Belgium we operate the Jims physical fitness clubs and the online health platform Yoboo. The online pharmacy Newpharma serves customers in Belgium and six other European countries.
These activities accounted for 2,6% of total sales in financial year 2025/26.
Non-food
Non-food remains an essential component of our total range. In Belgium, the group operates the bicycle store chain Bike Republic and the fashion chains Zeb, The Fashion Store and Pointcarré. Zeb also has several stores in France. These activities accounted for 2,9% of total sales in financial year 2025/26.
The group also has a stake in the toy shop Dreamland.
Energy
Colruyt Group firmly believes in the sustainable added value of renewable energy production and has a stake of 30% in Virya Energy, specialized in the development, financing, building and operation of projects in the field of energy transition. Virya Energy is active throughout the entire value chain of sustainable energy, in fifteen countries within Europe and Asia.
Food retail – Wholesale – Food service – Food production
Health and Well-being – Non-food – Energy – Support services
Corporate governance
This chapter contains information about the governance, operation, and internal controls of Colruyt Group and about all aspects of corporate governance. We divide ‘Corporate Governance’ into three main sections. One about governance, supervision and management, another about sustainable corporate governance and a third about share ownership.
Governance, supervision and management – Good/sustainable governance – Shareholding
Sustainability statement
This chapter contains Colruyt Group’s sustainability statement according to the requirements of the ‘Corporate Sustainability Reporting Directive’. The report is divided into four major sections, namely: General Information, Environment, Social and Governance.
The auditor’s report is also included at the back of this chapter.
General Information – Environment - Social – Governance – Auditor’s report
Financial report
In this chapter, you will find all consolidated financial results of the past financial year such as the consolidated income statement, the overview of the achieved and unachieved results, the balance, the cash flow statement, the statement of changes in equity, the management responsibility statement, and the report of the auditor.
