PALMÚRA: 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.
PALMÚRA
Largest movements
- Current investments +€145,746
up €145,746 (+13.5%), from €1.1m to €1.2m
- Cash +€37,720
up €37,720 (+74.3%), from €50,767 to €88,487
mainly Other debts (+€270,281) and Net result for the year (+€138,909)
- Financial fixed assets -€22,852
down €22,852 (-99.5%), from €22,957 to €105
- Receivables within one year -€16,965
down €16,965 (-32.7%), from €51,937 to €34,972
of which Other amounts receivable: -€22,839
- Other debts +€270,281
up €270,281 (+26,747%), from €1,011 to €271,292
- Reserves -€128,000
down €128,000 (-20.5%), from €625,000 to €497,000
- Gross operating margin -€170,919
down €170,919 (-56.4%), from €303,199 to €132,281
- Financial charges -€169,662
down €169,662 (-97.9%), from €173,317 to €3,655
of which Non-recurring financial charges: -€171,311
- Financial income -€141,340
down €141,340 (-69.2%), from €204,133 to €62,793
- Taxes -€46,851
down €46,851 (-49.9%), from €93,847 to €46,996
From the 2024 result to the 2025 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.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,221,005 | €1,362,429 | +€141,423 | +11.6% |
| Fixed assets | 21/28 | €39,720 | €14,224 | -€25,496 | -64.2% |
| Tangible fixed assets | 22/27 | €16,763 | €14,119 | -€2,644 | -15.8% |
| Furniture and vehicles | 24 | €16,763 | €14,119 | -€2,644 | -15.8% |
| Financial fixed assets | 28 | €22,957 | €105 | -€22,852 | -99.5% |
| Current assets | 29/58 | €1,181,285 | €1,348,205 | +€166,920 | +14.1% |
| Amounts receivable within one year | 40/41 | €51,937 | €34,972 | -€16,965 | -32.7% |
| Trade receivables | 40 | €20,468 | €26,343 | +€5,874 | +28.7% |
| Other amounts receivable | 41 | €31,468 | €8,629 | -€22,839 | -72.6% |
| Current investments | 50/53 | €1,078,282 | €1,224,028 | +€145,746 | +13.5% |
| Cash at bank and in hand | 54/58 | €50,767 | €88,487 | +€37,720 | +74.3% |
| Deferred charges and accrued income | 490/1 | €299 | €718 | +€419 | +140% |
| Total equity and liabilities | 10/49 | €1,221,005 | €1,362,429 | +€141,423 | +11.6% |
| Equity | 10/15 | €1,165,134 | €1,037,513 | -€127,621 | -11.0% |
| Contributions | 10/11 | €469,000 | €469,000 | = | 0.0% |
| Reserves | 13 | €625,000 | €497,000 | -€128,000 | -20.5% |
| Distributable reserves | 133 | €625,000 | €497,000 | -€128,000 | -20.5% |
| Profit (loss) carried forward | 14 | €71,134 | €71,513 | +€379 | +0.5% |
| Amounts payable | 17/49 | €55,871 | €324,915 | +€269,044 | +482% |
| Amounts payable within one year | 42/48 | €55,871 | €324,900 | +€269,029 | +482% |
| Trade debts | 44 | €3,180 | €7,310 | +€4,130 | +130% |
| Suppliers | 440/4 | €3,180 | €7,310 | +€4,130 | +130% |
| Taxes, remuneration and social security | 45 | €51,680 | €46,298 | -€5,382 | -10.4% |
| Taxes | 450/3 | €51,680 | €46,298 | -€5,382 | -10.4% |
| Other amounts payable | 47/48 | €1,011 | €271,292 | +€270,281 | +26,747% |
| Accrued charges and deferred income | 492/3 | - | €15 | +€15 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,872 | €2,644 | +€772 | +41.3% |
| Other operating charges | 640/8 | €387 | €2,870 | +€2,482 | +641% |
| Gross operating margin | 9900 | €303,199 | €132,281 | -€170,919 | -56.4% |
| Operating profit (loss) | 9901 | €300,940 | €126,767 | -€174,173 | -57.9% |
| Financial income | 75/76B | €204,133 | €62,793 | -€141,340 | -69.2% |
| Recurring financial income | 75 | €204,133 | €62,793 | -€141,340 | -69.2% |
| Financial charges | 65/66B | €173,317 | €3,655 | -€169,662 | -97.9% |
| Recurring financial charges | 65 | €2,006 | €3,655 | +€1,649 | +82.2% |
| Non-recurring financial charges | 66B | €171,311 | - | -€171,311 | |
| Profit (loss) for the period before taxes | 9903 | €331,756 | €185,905 | -€145,851 | -44.0% |
| Income taxes | 67/77 | €93,847 | €46,996 | -€46,851 | -49.9% |
| Profit (loss) for the period | 9904 | €237,909 | €138,909 | -€99,000 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €237,909 | €138,909 | -€99,000 | -41.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.