PARTEX: 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.
PARTEX
Largest movements
- Current investments -€1.3m
down €1.3m (-100%), from €1.3m to €0
- Financial fixed assets +€500,000
up €500,000 (+14.3%), from €3.5m to €4.0m
- Cash -€333,150
down €333,150 (-38.7%), from €861,346 to €528,196
mainly Contributions, distributions and other (-€1.1m) and Investment in fixed assets (net) (-€544,792)
- Receivables within one year +€201,114
up €201,114 (+152%), from €132,062 to €333,176
of which Trade receivables: +€191,056
- Other debts -€500,675
down €500,675 (-100%), from €500,675 to €0
- Debts after one year -€467,003
down €467,003 (-100%), from €467,003 to €0
- Reserves +€294,495
up €294,495 (+11.7%), from €2.5m to €2.8m
- Current portion of long-term debt -€226,657
down €226,657 (-100%), from €226,657 to €0
- Financial income +€96,998
up €96,998 (+10.0%), from €973,610 to €1.1m
- Services and other goods +€71,065
up €71,065 (+24.8%), from €287,129 to €358,194
- Staff costs +€58,722
up €58,722 (+30.7%), from €191,078 to €249,800
- Taxes -€28,946
down €28,946 (-19.7%), from €146,574 to €117,628
of which Taxes: -€28,841
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 | €5,830,618 | €4,922,603 | -€908,015 | -15.6% |
| Fixed assets | 21/28 | €3,536,002 | €4,061,231 | +€525,229 | +14.9% |
| Tangible fixed assets | 22/27 | €36,002 | €61,231 | +€25,229 | +70.1% |
| Furniture and vehicles | 24 | €36,002 | €61,231 | +€25,229 | +70.1% |
| Financial fixed assets | 28 | €3,500,000 | €4,000,000 | +€500,000 | +14.3% |
| Affiliated companies | 280/1 | €3,500,000 | €4,000,000 | +€500,000 | +14.3% |
| Participating interests | 280 | €3,500,000 | €3,500,000 | = | 0.0% |
| Amounts receivable | 281 | - | €500,000 | +€500,000 | |
| Current assets | 29/58 | €2,294,616 | €861,372 | -€1.4m | -62.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €132,062 | €333,176 | +€201,114 | +152% |
| Trade receivables | 40 | €132,014 | €323,070 | +€191,056 | +145% |
| Other amounts receivable | 41 | €48 | €10,106 | +€10,058 | +20,955% |
| Current investments | 50/53 | €1,300,678 | €0 | -€1.3m | -100% |
| Other investments | 51/53 | €1,300,678 | €0 | -€1.3m | -100% |
| Cash at bank and in hand | 54/58 | €861,346 | €528,196 | -€333,150 | -38.7% |
| Deferred charges and accrued income | 490/1 | €530 | €0 | -€530 | -100% |
| Total equity and liabilities | 10/49 | €5,830,618 | €4,922,603 | -€908,015 | -15.6% |
| Equity | 10/15 | €4,522,368 | €4,816,863 | +€294,495 | +6.5% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €2,522,368 | €2,816,863 | +€294,495 | +11.7% |
| Distributable reserves | 133 | €2,522,368 | €2,816,863 | +€294,495 | +11.7% |
| Amounts payable | 17/49 | €1,308,250 | €105,740 | -€1.2m | -91.9% |
| Amounts payable after more than one year | 17 | €467,003 | €0 | -€467,003 | -100% |
| Financial debts | 170/4 | €467,003 | €0 | -€467,003 | -100% |
| Other loans | 174 | €467,003 | €0 | -€467,003 | -100% |
| Amounts payable within one year | 42/48 | €837,590 | €102,070 | -€735,521 | -87.8% |
| Current portion of amounts payable after more than one year | 42 | €226,657 | €0 | -€226,657 | -100% |
| Trade debts | 44 | €19,273 | €26,814 | +€7,541 | +39.1% |
| Suppliers | 440/4 | €19,273 | €26,814 | +€7,541 | +39.1% |
| Taxes, remuneration and social security | 45 | €90,986 | €75,255 | -€15,730 | -17.3% |
| Taxes | 450/3 | €74,502 | €52,099 | -€22,403 | -30.1% |
| Remuneration and social security | 454/9 | €16,483 | €23,156 | +€6,673 | +40.5% |
| Other amounts payable | 47/48 | €500,675 | €0 | -€500,675 | -100% |
| Accrued charges and deferred income | 492/3 | €3,656 | €3,671 | +€15 | +0.4% |
| Operating income | 70/76A | €1,072,070 | €1,087,651 | +€15,581 | +1.5% |
| Turnover | 70 | €1,061,524 | €1,068,000 | +€6,476 | +0.6% |
| Other operating income | 74 | €10,546 | €19,651 | +€9,105 | +86.3% |
| Operating charges | 60/66A | €507,336 | €630,384 | +€123,047 | +24.3% |
| Services and other goods | 61 | €287,129 | €358,194 | +€71,065 | +24.8% |
| Remuneration, social security and pensions | 62 | €191,078 | €249,800 | +€58,722 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,840 | €19,564 | -€6,277 | -24.3% |
| Other operating charges | 640/8 | €3,289 | €2,827 | -€463 | -14.1% |
| Operating profit (loss) | 9901 | €564,734 | €457,267 | -€107,466 | -19.0% |
| Financial income | 75/76B | €973,610 | €1,070,608 | +€96,998 | +10.0% |
| Recurring financial income | 75 | €973,610 | €1,070,608 | +€96,998 | +10.0% |
| Income from financial fixed assets | 750 | €950,000 | €1,051,726 | +€101,726 | +10.7% |
| Income from current assets | 751 | €23,610 | €18,790 | -€4,820 | -20.4% |
| Other financial income | 752/9 | €0 | €92 | +€91 | +914,900% |
| Financial charges | 65/66B | €17,653 | €15,753 | -€1,900 | -10.8% |
| Recurring financial charges | 65 | €17,653 | €15,753 | -€1,900 | -10.8% |
| Debt charges | 650 | €17,164 | €14,765 | -€2,398 | -14.0% |
| Other financial charges | 652/9 | €489 | €987 | +€498 | +102% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,520,691 | €1,512,123 | -€8,568 | -0.6% |
| Income taxes | 67/77 | €146,574 | €117,628 | -€28,946 | -19.7% |
| Taxes | 670/3 | €146,574 | €117,733 | -€28,841 | -19.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €105 | +€105 | |
| Profit (loss) for the period | 9904 | €1,374,117 | €1,394,495 | +€20,378 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,374,117 | €1,394,495 | +€20,378 | +1.5% |
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 16 October 2026 via checked.be.