Activities (1,3 MB) - Colruyt Group

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5.2.4. Salary costs and net salary in Belgium
In EUR million In %
Total salary costs 912,82 100%
Employer’s NOSS
contributions and insurance
Gross remuneration of
Belgian employees
Employees’ NOSS
contributions
210,36
702,46 76,95%
80,52
Withholding tax 137,84
Net salaries 484,10 53,03%
The employees receive EUR 484,10 million net, or 68,91% of
the gross wages of EUR 702,46 million. The employer NOSS
contributions and other statutory insurance together amounted
to EUR 210,36 million. The total annual payroll costs for Colruyt
Group thus amount to EUR 912,82 million (EUR 702,46
million + EUR 210,36 million). Of this sum, the employees
received EUR 484,10 million or 53,03% net. In the financial
year 2011/2012, Colruyt Group paid an amount of EUR 290,88
million (EUR 210,36 million + 80,52 million) to the social
security.
5.2.5. Contributions paid to the Belgian Treasury
The total contribution transferred to the Belgian Treasury represents 55,18% of the added value generated by Colruyt Group in
Belgium. This added value equals the operating income less the cost of goods sold less services and miscellaneous goods,
or EUR 1,58 billion in Belgium.
In EUR million
Social Security 290,88
Withholding tax on salaries 137,84
Corporation tax on profits 142,38
Difference between payable and deductible VAT 275,88
Withholding tax on income from moveable assets 13,13
Withholding tax on income from property 6,54
Provincial and municipal taxes and other federal taxes 4,85
Total 871,50
5.2.6. Financial involvement
5.2.6.1. Profit participation
As a sign of appreciation for everyone’s contribution and
efforts, Colruyt Group allows all the employees in Belgium to
share in the profit. A different system applies to the employees
in France in accordance with the French laws.
History of the profit participation in Belgium
- Since 1988, a substantial group of executives have
participated in the capital of the company through a collective
shareholdership.
- In 1996, a ‘personnel dividend’ was paid out for the first time.
- In 2002, a number of group companies set up a system of
profit participation together with the social partners, which
was based on the Act of 22 May 2001 regarding the profit
participation in the capital and in the profit of the companies.
The Collective Labour Agreement was extended a number of
times.
- As from the financial year 2007/2008, the system was
expanded to include all companies within the group, for the
employees working in Belgium.
The participation varies in accordance with the operating result
of the past financial year. It consists of a basic amount which is
multiplied by coefficients for salary, seniority and position. Part
of this is paid out in cash or in shares of the parent company
as desired.