PARTNER: what changed
Two fiscal 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
PARTNER
NACE 46.421, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€506,089
2024 · €222,100+€283,989
Equity
€4.0m
2024 · €4.2m-€231,911
Cash
€40,699
2024 · €62,249-€21,551
Balance sheet total
€11.0m
2024 · €11.6m-€614,608
Largest movements
Assets
- Receivables within one year -€563,410
down €563,410 (-8.8%), from €6.4m to €5.9m
of which Other amounts receivable: -€411,792
Equity and liabilities
- Short-term financial debts -€755,651
down €755,651 (-27.4%), from €2.8m to €2.0m
- Accrued charges and deferred income +€331,375
new in 2025: €331,375
- Other debts +€291,089
new in 2025: €291,089
- Reserves -€238,000
down €238,000 (-6.7%), from €3.6m to €3.3m
of which Distributable reserves: -€238,000
- Trade debts -€139,844
down €139,844 (-3.8%), from €3.7m to €3.5m
Income statement
- Goods and materials +€405,205
up €405,205 (+2.0%), from €19.9m to €20.3m
of which Purchases: +€579,350
- Services and other goods -€337,123
down €337,123 (-13.0%), from €2.6m to €2.3m
- Turnover +€319,679
up €319,679 (+1.2%), from €25.7m to €26.0m
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.
Result 2024
€222,100
Turnover
+€319,679
Other operating income
+€14,574
Goods and materials
-€405,205
Services and other goods
+€337,123
Staff costs
-€125,012
Depreciation
-€36,518
Write-downs
+€253,157
Other operating charges
-€104
Other operating items
-€3,981
Financial income
-€26,735
Financial charges
+€49,738
Taxes
-€92,724
Result 2025
€506,089
Cash bridge derived
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.
From operations
+€1.8m
Investment
-€251,198
Financing
-€1.6m
Cash 2024
€62,249
From operations (derived)
+€1.8m
Net result for the year
+€506,089
Depreciation
+€327,222
Stocks and contracts
-€27,874
Receivables within one year
+€563,410
Deferred charges and accrued income
-€18,503
Trade debts
-€139,844
Tax, wage and social debts
+€2,272
Other debts
+€291,089
Accrued charges and deferred income
+€331,375
Investment (derived)
-€251,198
Investment in fixed assets (net)
-€251,198
Financing
-€1.6m
Debts after one year
-€116,336
Current portion of long-term debt
+€4,398
Short-term financial debts
-€755,651
Contributions, distributions and other
-€738,000
Cash 2025
€40,699
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,588,026 | €10,973,417 | -€614,608 | -5.3% |
| Fixed assets | 21/28 | €1,111,280 | €1,035,255 | -€76,025 | -6.8% |
| Intangible fixed assets | 21 | €324,066 | €270,566 | -€53,500 | -16.5% |
| Tangible fixed assets | 22/27 | €635,605 | €528,732 | -€106,872 | -16.8% |
| Plant, machinery and equipment | 23 | €79,525 | €53,483 | -€26,041 | -32.7% |
| Furniture and vehicles | 24 | €173,095 | €157,231 | -€15,864 | -9.2% |
| Other tangible fixed assets | 26 | €382,985 | €318,018 | -€64,967 | -17.0% |
| Financial fixed assets | 28 | €151,609 | €235,957 | +€84,348 | +55.6% |
| Other financial fixed assets | 284/8 | €151,609 | €235,957 | +€84,348 | +55.6% |
| Amounts receivable and cash guarantees | 285/8 | €151,609 | €235,957 | +€84,348 | +55.6% |
| Current assets | 29/58 | €10,476,746 | €9,938,162 | -€538,584 | -5.1% |
| Stocks and contracts in progress | 3 | €3,986,567 | €4,014,442 | +€27,874 | +0.7% |
| Stocks | 30/36 | €3,986,567 | €4,014,442 | +€27,874 | +0.7% |
| Goods purchased for resale | 34 | €3,986,567 | €4,014,442 | +€27,874 | +0.7% |
| Amounts receivable within one year | 40/41 | €6,427,929 | €5,864,519 | -€563,410 | -8.8% |
| Trade receivables | 40 | €5,924,808 | €5,773,190 | -€151,619 | -2.6% |
| Other amounts receivable | 41 | €503,121 | €91,330 | -€411,792 | -81.8% |
| Cash at bank and in hand | 54/58 | €62,249 | €40,699 | -€21,551 | -34.6% |
| Deferred charges and accrued income | 490/1 | - | €18,503 | +€18,503 | |
| Total equity and liabilities | 10/49 | €11,588,026 | €10,973,417 | -€614,608 | -5.3% |
| Equity | 10/15 | €4,211,501 | €3,979,590 | -€231,911 | -5.5% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €3,563,019 | €3,325,019 | -€238,000 | -6.7% |
| Non-distributable reserves | 130/1 | €55,319 | €55,319 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Other | 1319 | €5,319 | €5,319 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €3,470,200 | €3,232,200 | -€238,000 | -6.9% |
| Profit (loss) carried forward | 14 | €48,482 | €54,571 | +€6,089 | +12.6% |
| Amounts payable | 17/49 | €7,376,524 | €6,993,827 | -€382,697 | -5.2% |
| Amounts payable after more than one year | 17 | €275,384 | €159,048 | -€116,336 | -42.2% |
| Financial debts | 170/4 | €275,384 | €159,048 | -€116,336 | -42.2% |
| Credit institutions | 173 | €275,384 | €159,048 | -€116,336 | -42.2% |
| Amounts payable within one year | 42/48 | €7,101,141 | €6,503,405 | -€597,736 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €111,938 | €116,336 | +€4,398 | +3.9% |
| Financial debts | 43 | €2,757,150 | €2,001,499 | -€755,651 | -27.4% |
| Credit institutions | 430/8 | €2,757,150 | €2,001,499 | -€755,651 | -27.4% |
| Trade debts | 44 | €3,663,712 | €3,523,867 | -€139,844 | -3.8% |
| Suppliers | 440/4 | €3,663,712 | €3,523,867 | -€139,844 | -3.8% |
| Taxes, remuneration and social security | 45 | €568,341 | €570,613 | +€2,272 | +0.4% |
| Taxes | 450/3 | €281,100 | €240,638 | -€40,462 | -14.4% |
| Remuneration and social security | 454/9 | €287,242 | €329,975 | +€42,734 | +14.9% |
| Other amounts payable | 47/48 | - | €291,089 | +€291,089 | |
| Accrued charges and deferred income | 492/3 | - | €331,375 | +€331,375 | |
| Operating income | 70/76A | €25,765,164 | €26,094,345 | +€329,180 | +1.3% |
| Turnover | 70 | €25,692,429 | €26,012,107 | +€319,679 | +1.2% |
| Other operating income | 74 | €67,664 | €82,237 | +€14,574 | +21.5% |
| Non-recurring operating income | 76A | €5,072 | - | -€5,072 | |
| Operating charges | 60/66A | €25,399,934 | €25,375,403 | -€24,531 | -0.1% |
| Goods for resale, raw materials and consumables | 60 | €19,936,347 | €20,341,553 | +€405,205 | +2.0% |
| Purchases | 600/8 | €19,727,500 | €20,306,850 | +€579,350 | +2.9% |
| Change in stocks: decrease (increase) | 609 | €208,848 | €34,703 | -€174,145 | -83.4% |
| Services and other goods | 61 | €2,592,469 | €2,255,347 | -€337,123 | -13.0% |
| Remuneration, social security and pensions | 62 | €2,359,220 | €2,484,233 | +€125,012 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290,704 | €327,222 | +€36,518 | +12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €190,579 | -€62,577 | -€253,157 | |
| Other operating charges | 640/8 | €29,523 | €29,626 | +€104 | +0.4% |
| Non-recurring operating charges | 66A | €1,091 | - | -€1,091 | |
| Operating profit (loss) | 9901 | €365,230 | €718,942 | +€353,711 | +96.8% |
| Financial income | 75/76B | €155,105 | €128,369 | -€26,735 | -17.2% |
| Recurring financial income | 75 | €155,105 | €128,369 | -€26,735 | -17.2% |
| Income from current assets | 751 | €7,289 | €6,497 | -€792 | -10.9% |
| Other financial income | 752/9 | €147,816 | €121,872 | -€25,944 | -17.6% |
| Financial charges | 65/66B | €187,894 | €138,156 | -€49,738 | -26.5% |
| Recurring financial charges | 65 | €187,894 | €138,156 | -€49,738 | -26.5% |
| Debt charges | 650 | €175,827 | €122,921 | -€52,906 | -30.1% |
| Other financial charges | 652/9 | €12,067 | €15,235 | +€3,168 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €332,441 | €709,155 | +€376,713 | +113.3% |
| Income taxes | 67/77 | €110,341 | €203,066 | +€92,724 | +84.0% |
| Taxes | 670/3 | €110,341 | €203,066 | +€92,724 | +84.0% |
| Profit (loss) for the period | 9904 | €222,100 | €506,089 | +€283,989 | +127.9% |
| Profit (loss) for the period to be appropriated | 9905 | €222,100 | €506,089 | +€283,989 | +127.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.