Partner Spirits: 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 Spirits
NACE 46.341, Wholesale of wines and spirits
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €109,987+€2.1m
Equity
€19.6m
2024 · €17.9m+€1.7m
Cash
€500,450
2024 · €958,322-€457,871
Balance sheet total
€69.0m
2024 · €72.7m-€3.7m
Largest movements
Assets
- Stocks and contracts -€3.7m
down €3.7m (-11.3%), from €33.0m to €29.2m
- Receivables within one year +€1.2m
up €1.2m (+11.2%), from €11.1m to €12.3m
of which Trade receivables: +€1.2m
Equity and liabilities
- Short-term financial debts -€2.9m
down €2.9m (-23.5%), from €12.4m to €9.5m
- Debts after one year -€1.8m
down €1.8m (-10.5%), from €17.4m to €15.5m
- Current portion of long-term debt -€1.5m
down €1.5m (-49.5%), from €3.1m to €1.6m
- Reserves +€961,139
up €961,139 (+37.7%), from €2.5m to €3.5m
of which Tax-exempt reserves: +€961,139
- Profit (loss) carried forward +€836,562
up €836,562 (+6.7%), from €12.5m to €13.3m
Income statement
- Goods and materials +€6.8m
up €6.8m (+5.7%), from €118.8m to €125.6m
of which Change in stocks: decrease (increase): +€5.8m
- Turnover +€6.7m
up €6.7m (+5.1%), from €131.2m to €137.9m
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
€109,987
Turnover
+€6.7m
Other operating income
+€8,668
Goods and materials
-€6.8m
Services and other goods
+€2,455
Staff costs
+€135,381
Depreciation
-€15,870
Write-downs
-€377,103
Other operating charges
+€57,500
Other operating items
+€2.9m
Financial income
-€127,940
Financial charges
+€302,481
Taxes
-€10,250
Deferred taxes and other
-€671,213
Result 2025
€2.2m
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
+€7.5m
Investment
-€1.2m
Financing
-€6.8m
Cash 2024
€958,322
From operations (derived)
+€7.5m
Net result for the year
+€2.2m
Depreciation
+€2.0m
Stocks and contracts
+€3.7m
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€63,535
Provisions
+€671,213
Trade debts
-€189,664
Tax, wage and social debts
+€16,965
Other debts
+€417,389
Accrued charges and deferred income
-€25,543
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€6.8m
Debts after one year
-€1.8m
Current portion of long-term debt
-€1.5m
Short-term financial debts
-€2.9m
Contributions, distributions and other
-€520,791
Cash 2025
€500,450
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,681,632 | €69,002,115 | -€3.7m | -5.1% |
| Fixed assets | 21/28 | €27,271,993 | €26,481,446 | -€790,547 | -2.9% |
| Intangible fixed assets | 21 | €1,240,341 | €976,345 | -€263,996 | -21.3% |
| Tangible fixed assets | 22/27 | €24,502,641 | €23,976,090 | -€526,551 | -2.1% |
| Land and buildings | 22 | €14,337,625 | €13,211,982 | -€1.1m | -7.9% |
| Plant, machinery and equipment | 23 | €9,780,011 | €10,471,051 | +€691,040 | +7.1% |
| Furniture and vehicles | 24 | €385,005 | €293,057 | -€91,949 | -23.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,529,012 | €1,529,012 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,529,012 | €1,529,012 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,529,012 | €1,529,012 | = | 0.0% |
| Current assets | 29/58 | €45,409,639 | €42,520,669 | -€2.9m | -6.4% |
| Stocks and contracts in progress | 3 | €32,950,057 | €29,212,342 | -€3.7m | -11.3% |
| Stocks | 30/36 | €32,950,057 | €29,212,342 | -€3.7m | -11.3% |
| Goods purchased for resale | 34 | €32,950,057 | €29,212,342 | -€3.7m | -11.3% |
| Amounts receivable within one year | 40/41 | €11,096,091 | €12,339,171 | +€1.2m | +11.2% |
| Trade receivables | 40 | €11,096,018 | €12,299,360 | +€1.2m | +10.8% |
| Other amounts receivable | 41 | €72 | €39,811 | +€39,739 | +54940.9% |
| Cash at bank and in hand | 54/58 | €958,322 | €500,450 | -€457,871 | -47.8% |
| Deferred charges and accrued income | 490/1 | €405,170 | €468,705 | +€63,535 | +15.7% |
| Total equity and liabilities | 10/49 | €72,681,632 | €69,002,115 | -€3.7m | -5.1% |
| Equity | 10/15 | €17,919,268 | €19,614,819 | +€1.7m | +9.5% |
| Contributions | 10/11 | €1,600,000 | €1,600,000 | = | 0.0% |
| Capital | 10 | €1,600,000 | €1,600,000 | = | 0.0% |
| Issued capital | 100 | €1,600,000 | €1,600,000 | = | 0.0% |
| Reserves | 13 | €2,546,158 | €3,507,297 | +€961,139 | +37.7% |
| Non-distributable reserves | 130/1 | €160,000 | €160,000 | = | 0.0% |
| Legal reserve | 130 | €160,000 | €160,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,353,000 | €3,314,139 | +€961,139 | +40.8% |
| Distributable reserves | 133 | €33,158 | €33,158 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,512,736 | €13,349,297 | +€836,562 | +6.7% |
| Investment grants | 15 | €1,260,374 | €1,158,225 | -€102,150 | -8.1% |
| Provisions and deferred taxes | 16 | - | €671,213 | +€671,213 | |
| Deferred taxes | 168 | - | €671,213 | +€671,213 | |
| Amounts payable | 17/49 | €54,762,365 | €48,716,083 | -€6.0m | -11.0% |
| Amounts payable after more than one year | 17 | €17,361,594 | €15,543,777 | -€1.8m | -10.5% |
| Financial debts | 170/4 | €17,361,594 | €15,543,777 | -€1.8m | -10.5% |
| Credit institutions | 173 | €17,361,594 | €15,543,777 | -€1.8m | -10.5% |
| Amounts payable within one year | 42/48 | €37,073,175 | €32,870,254 | -€4.2m | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €3,091,846 | €1,560,672 | -€1.5m | -49.5% |
| Financial debts | 43 | €12,394,358 | €9,477,920 | -€2.9m | -23.5% |
| Credit institutions | 430/8 | €12,394,358 | €9,477,920 | -€2.9m | -23.5% |
| Trade debts | 44 | €20,624,870 | €20,435,206 | -€189,664 | -0.9% |
| Suppliers | 440/4 | €20,624,870 | €20,435,206 | -€189,664 | -0.9% |
| Taxes, remuneration and social security | 45 | €934,589 | €951,555 | +€16,965 | +1.8% |
| Taxes | 450/3 | €608,306 | €648,163 | +€39,857 | +6.6% |
| Remuneration and social security | 454/9 | €326,283 | €303,392 | -€22,892 | -7.0% |
| Other amounts payable | 47/48 | €27,513 | €444,901 | +€417,389 | +1517.1% |
| Accrued charges and deferred income | 492/3 | €327,595 | €302,052 | -€25,543 | -7.8% |
| Operating income | 70/76A | €131,339,185 | €140,952,683 | +€9.6m | +7.3% |
| Turnover | 70 | €131,236,150 | €137,905,944 | +€6.7m | +5.1% |
| Other operating income | 74 | €103,035 | €111,703 | +€8,668 | +8.4% |
| Non-recurring operating income | 76A | - | €2,935,035 | +€2.9m | |
| Operating charges | 60/66A | €129,726,203 | €136,726,423 | +€7.0m | +5.4% |
| Goods for resale, raw materials and consumables | 60 | €118,782,528 | €125,585,110 | +€6.8m | +5.7% |
| Purchases | 600/8 | €120,938,503 | €121,953,946 | +€1.0m | +0.8% |
| Change in stocks: decrease (increase) | 609 | -€2,155,975 | €3,631,164 | +€5.8m | |
| Services and other goods | 61 | €5,884,809 | €5,882,355 | -€2,455 | 0.0% |
| Remuneration, social security and pensions | 62 | €3,300,652 | €3,165,271 | -€135,381 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,938,137 | €1,954,007 | +€15,870 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€266,999 | €110,104 | +€377,103 | |
| Other operating charges | 640/8 | €87,076 | €29,576 | -€57,500 | -66.0% |
| Operating profit (loss) | 9901 | €1,612,982 | €4,226,259 | +€2.6m | +162.0% |
| Financial income | 75/76B | €231,461 | €103,520 | -€127,940 | -55.3% |
| Recurring financial income | 75 | €231,461 | €103,520 | -€127,940 | -55.3% |
| Income from financial fixed assets | 750 | €117,271 | €1,318 | -€115,954 | -98.9% |
| Other financial income | 752/9 | €114,190 | €102,203 | -€11,987 | -10.5% |
| Financial charges | 65/66B | €1,684,060 | €1,381,579 | -€302,481 | -18.0% |
| Recurring financial charges | 65 | €1,684,060 | €1,381,579 | -€302,481 | -18.0% |
| Debt charges | 650 | €1,326,429 | €1,028,113 | -€298,317 | -22.5% |
| Other financial charges | 652/9 | €357,630 | €353,467 | -€4,164 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €160,383 | €2,948,200 | +€2.8m | +1738.2% |
| Transfer from deferred taxes | 780 | - | €62,546 | +€62,546 | |
| Transfer to deferred taxes | 680 | - | €733,759 | +€733,759 | |
| Income taxes | 67/77 | €50,395 | €60,646 | +€10,250 | +20.3% |
| Taxes | 670/3 | €50,395 | €60,646 | +€10,250 | +20.3% |
| Profit (loss) for the period | 9904 | €109,987 | €2,216,342 | +€2.1m | +1915.1% |
| Transfer from tax-exempt reserves | 789 | - | €1,240,137 | +€1.2m | |
| Transfer to tax-exempt reserves | 689 | - | €2,201,276 | +€2.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €109,987 | €1,255,203 | +€1.1m | +1041.2% |
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 5 October 2026 via checked.be.