PALMYRA BRANDS: 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
PALMYRA BRANDS
NACE 70.200, Business and other management consultancy
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€584,105
2023 · -€49.6m+€50.2m
Equity
€111.0m
2023 · €88.7m+€22.3m
Cash
€154,931
2023 · €13,804+€141,127
Balance sheet total
€167.1m
2023 · €128.4m+€38.7m
Largest movements
Assets
- Receivables within one year +€64.3m
up €64.3m (+10,453%), from €615,246 to €64.9m
of which Other amounts receivable: +€64.3m
- Financial fixed assets -€25.7m
down €25.7m (-22.6%), from €114.0m to €88.3m
of which Affiliated companies: -€33.2m
Equity and liabilities
- Revaluation surpluses +€21.7m
new in 2024: €21.7m
- Debts after one year +€19.0m
up €19.0m (+68.7%), from €27.6m to €46.6m
- Short-term financial debts -€7.3m
no longer reported in 2024 (was €7.3m)
- Current portion of long-term debt +€2.9m
up €2.9m (+122%), from €2.3m to €5.2m
- Other debts +€2.1m
up €2.1m (+20,687%), from €9,981 to €2.1m
Income statement
- Financial charges -€55.3m
down €55.3m (-93.9%), from €58.8m to €3.6m
- Financial income -€6.6m
down €6.6m (-61.5%), from €10.8m to €4.1m
- Taxes -€590,060
down €590,060, from €298,793 to -€291,267
- Turnover -€283,960
down €283,960 (-39.9%), from €711,980 to €428,020
- Services and other goods -€142,664
down €142,664 (-11.4%), from €1.3m to €1.1m
From the 2023 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 2023
-€49.6m
Turnover
-€283,960
Other operating income
+€369
Services and other goods
+€142,664
Staff costs
-€41,544
Depreciation
+€4,351
Other operating charges
+€114,473
Other operating items
+€1.1m
Financial income
-€6.6m
Financial charges
+€55.3m
Other financial items
-€1
Taxes
+€590,060
Deferred taxes and other
-€324
Result 2024
€584,105
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€61.9m
Investment
+€25.7m
Financing
+€36.3m
Cash 2023
€13,804
From operations (derived)
-€61.9m
Net result for the year
+€584,105
Depreciation
+€133,236
Smaller working-capital items
-€100,961
Receivables within one year
-€64.3m
Tax, wage and social debts
-€253,777
Other debts
+€2.1m
Investment (derived)
+€25.7m
Investment in fixed assets (net)
+€25.7m
Current investments
+€131
Financing
+€36.3m
Debts after one year
+€19.0m
Current portion of long-term debt
+€2.9m
Short-term financial debts
-€7.3m
Contributions, distributions and other
+€21.7m
Not broken down
+€2
Cash 2024
€154,931
brings cash intakes cash outdifference the filed balance sheets leave
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €128,397,824 | €167,106,773 | +€38.7m | +30.1% |
| Fixed assets | 21/28 | €118,850,916 | €93,002,509 | -€25.8m | -21.7% |
| Intangible fixed assets | 21 | €23,313 | €13,913 | -€9,400 | -40.3% |
| Tangible fixed assets | 22/27 | €4,799,543 | €4,680,872 | -€118,671 | -2.5% |
| Land and buildings | 22 | €3,820,017 | €3,736,173 | -€83,844 | -2.2% |
| Plant, machinery and equipment | 23 | €59,196 | €39,631 | -€19,565 | -33.1% |
| Furniture and vehicles | 24 | €53,702 | €38,439 | -€15,263 | -28.4% |
| Assets under construction and advance payments | 27 | €866,629 | €866,629 | +€0 | 0.0% |
| Financial fixed assets | 28 | €114,028,059 | €88,307,724 | -€25.7m | -22.6% |
| Affiliated companies | 280/1 | €110,525,576 | €77,298,514 | -€33.2m | -30.1% |
| Participating interests | 280 | €103,970,259 | €67,000,001 | -€37.0m | -35.6% |
| Amounts receivable | 281 | €6,555,317 | €10,298,513 | +€3.7m | +57.1% |
| Other financial fixed assets | 284/8 | €3,502,483 | €11,009,210 | +€7.5m | +214% |
| Amounts receivable and cash guarantees | 285/8 | €3,502,483 | €11,009,210 | +€7.5m | +214% |
| Current assets | 29/58 | €9,546,908 | €74,104,264 | +€64.6m | +676% |
| Amounts receivable after more than one year | 29 | €843,846 | €843,271 | -€575 | -0.1% |
| Other amounts receivable | 291 | €843,846 | €843,271 | -€575 | -0.1% |
| Amounts receivable within one year | 40/41 | €615,246 | €64,923,956 | +€64.3m | +10,453% |
| Trade receivables | 40 | €62,431 | €97,088 | +€34,657 | +55.5% |
| Other amounts receivable | 41 | €552,815 | €64,826,868 | +€64.3m | +11,627% |
| Current investments | 50/53 | €7,994,697 | €7,994,566 | -€131 | 0.0% |
| Own shares | 50 | €7,994,566 | €7,994,566 | +€0 | 0.0% |
| Other investments | 51/53 | €131 | - | -€131 | |
| Cash at bank and in hand | 54/58 | €13,804 | €154,931 | +€141,127 | +1,022% |
| Deferred charges and accrued income | 490/1 | €79,315 | €187,540 | +€108,225 | +136% |
| Total equity and liabilities | 10/49 | €128,397,824 | €167,106,773 | +€38.7m | +30.1% |
| Equity | 10/15 | €88,696,056 | €111,014,265 | +€22.3m | +25.2% |
| Contributions | 10/11 | €82,200,000 | €82,200,000 | = | 0.0% |
| Capital | 10 | €82,200,000 | €82,200,000 | = | 0.0% |
| Issued capital | 100 | €82,200,000 | €82,200,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €21,723,274 | +€21.7m | |
| Reserves | 13 | €17,444,566 | €17,444,566 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €17,444,566 | €17,444,566 | +€0 | 0.0% |
| Legal reserve | 130 | €9,450,000 | €9,450,000 | = | 0.0% |
| Own shares acquired | 1312 | €7,994,566 | €7,994,566 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€11,085,045 | -€10,495,621 | +€589,424 | +5.3% |
| Investment grants | 15 | €136,536 | €142,045 | +€5,509 | +4.0% |
| Provisions and deferred taxes | 16 | €57,352 | €44,749 | -€12,603 | -22.0% |
| Deferred taxes | 168 | €57,352 | €44,749 | -€12,603 | -22.0% |
| Amounts payable | 17/49 | €39,644,416 | €56,047,759 | +€16.4m | +41.4% |
| Amounts payable after more than one year | 17 | €27,646,555 | €46,645,611 | +€19.0m | +68.7% |
| Financial debts | 170/4 | €27,646,555 | €46,645,611 | +€19.0m | +68.7% |
| Credit institutions | 173 | €1,146,206 | €949,774 | -€196,432 | -17.1% |
| Other loans | 174 | €26,500,349 | €45,695,837 | +€19.2m | +72.4% |
| Amounts payable within one year | 42/48 | €10,447,306 | €7,716,814 | -€2.7m | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €2,346,571 | €5,212,026 | +€2.9m | +122% |
| Financial debts | 43 | €7,291,466 | - | -€7.3m | |
| Other loans | 439 | €7,291,466 | - | -€7.3m | |
| Trade debts | 44 | €448,385 | €332,899 | -€115,486 | -25.8% |
| Suppliers | 440/4 | €448,385 | €332,899 | -€115,486 | -25.8% |
| Taxes, remuneration and social security | 45 | €350,902 | €97,125 | -€253,777 | -72.3% |
| Taxes | 450/3 | €300,953 | €22,801 | -€278,152 | -92.4% |
| Remuneration and social security | 454/9 | €49,949 | €74,324 | +€24,375 | +48.8% |
| Other amounts payable | 47/48 | €9,981 | €2,074,764 | +€2.1m | +20,687% |
| Accrued charges and deferred income | 492/3 | €1,550,555 | €1,685,333 | +€134,778 | +8.7% |
| Operating income | 70/76A | €759,585 | €7,475,993 | +€6.7m | +884% |
| Turnover | 70 | €711,980 | €428,020 | -€283,960 | -39.9% |
| Other operating income | 74 | €47,604 | €47,973 | +€369 | +0.8% |
| Non-recurring operating income | 76A | - | €7,000,000 | +€7.0m | |
| Operating charges | 60/66A | €2,026,455 | €7,755,189 | +€5.7m | +283% |
| Services and other goods | 61 | €1,253,854 | €1,111,190 | -€142,664 | -11.4% |
| Remuneration, social security and pensions | 62 | €329,284 | €370,828 | +€41,544 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,587 | €133,236 | -€4,351 | -3.2% |
| Other operating charges | 640/8 | €305,730 | €191,257 | -€114,473 | -37.4% |
| Non-recurring operating charges | 66A | - | €5,948,678 | +€5.9m | |
| Operating profit (loss) | 9901 | -€1,266,871 | -€279,195 | +€987,676 | +78.0% |
| Financial income | 75/76B | €10,779,118 | €4,146,622 | -€6.6m | -61.5% |
| Recurring financial income | 75 | €10,779,118 | €4,146,622 | -€6.6m | -61.5% |
| Income from financial fixed assets | 750 | €9,350,000 | €0 | -€9.4m | -100% |
| Income from current assets | 751 | €14,301 | €28,563 | +€14,262 | +99.7% |
| Other financial income | 752/9 | €1,414,817 | €4,118,058 | +€2.7m | +191% |
| Financial charges | 65/66B | €58,833,456 | €3,576,362 | -€55.3m | -93.9% |
| Recurring financial charges | 65 | €58,833,456 | €3,576,362 | -€55.3m | -93.9% |
| Debt charges | 650 | €1,903,413 | €2,117,097 | +€213,684 | +11.2% |
| Other financial charges | 652/9 | €56,930,042 | €1,459,265 | -€55.5m | -97.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,321,208 | €291,064 | +€49.6m | |
| Transfer from deferred taxes | 780 | €2,098 | €1,773 | -€325 | -15.5% |
| Income taxes | 67/77 | €298,793 | -€291,267 | -€590,060 | |
| Taxes | 670/3 | €298,793 | €6,960 | -€291,833 | -97.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €298,227 | +€298,227 | |
| Profit (loss) for the period | 9904 | -€49,617,903 | €584,105 | +€50.2m | |
| Transfer from tax-exempt reserves | 789 | €4,995 | €5,320 | +€325 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,612,908 | €589,425 | +€50.2m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.