PATRIMOR: 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
PATRIMOR
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€460,418
2024 · €389,477+€70,941
Equity
€3.7m
2024 · €3.4m+€330,418
Cash
€153,381
2024 · €244,408-€91,027
Balance sheet total
€8.2m
2024 · €9.7m-€1.5m
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-78.9%), from €1.4m to €298,983
of which Other amounts receivable: -€1.1m
- Tangible fixed assets -€266,415
down €266,415 (-5.1%), from €5.3m to €5.0m
Equity and liabilities
- Debts after one year -€1.6m
down €1.6m (-28.5%), from €5.6m to €4.0m
- Reserves +€330,418
up €330,418 (+13.0%), from €2.5m to €2.9m
of which Distributable reserves: +€330,418
- Other debts -€220,000
down €220,000 (-62.9%), from €350,000 to €130,000
Income statement
- Financial income +€47,599
up €47,599 (+15.7%), from €302,402 to €350,000
- Financial charges -€17,969
down €17,969 (-15.2%), from €118,480 to €100,511
- Other operating income +€17,059
up €17,059 (+4.2%), from €408,199 to €425,258
- Taxes +€7,300
up €7,300 (+24.5%), from €29,826 to €37,126
- Services and other goods +€3,394
up €3,394 (+9.1%), from €37,481 to €40,875
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
€389,477
Turnover
+€1,778
Other operating income
+€17,059
Services and other goods
-€3,394
Depreciation
-€647
Other operating charges
-€2,123
Financial income
+€47,599
Financial charges
+€17,969
Taxes
-€7,300
Result 2025
€460,418
raises the resultlowers the result
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.
From operations
+€1.6m
Investment
-€2,510
Financing
-€1.7m
Cash 2024
€244,408
From operations (derived)
+€1.6m
Net result for the year
+€460,418
Depreciation
+€268,925
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€10,832
Smaller working-capital items
+€2,938
Tax, wage and social debts
+€10,186
Other debts
-€220,000
Investment (derived)
-€2,510
Investment in fixed assets (net)
-€2,510
Financing
-€1.7m
Debts after one year
-€1.6m
Current portion of long-term debt
+€5,373
Short-term financial debts
-€28
Contributions, distributions and other
-€130,000
Cash 2025
€153,381
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,681,227 | €8,213,461 | -€1.5m | -15.2% |
| Fixed assets | 21/28 | €7,991,874 | €7,725,459 | -€266,415 | -3.3% |
| Tangible fixed assets | 22/27 | €5,274,243 | €5,007,829 | -€266,415 | -5.1% |
| Land and buildings | 22 | €5,274,243 | €5,007,829 | -€266,415 | -5.1% |
| Financial fixed assets | 28 | €2,717,631 | €2,717,631 | = | 0.0% |
| Affiliated companies | 280/1 | €2,717,506 | €2,717,506 | = | 0.0% |
| Participating interests | 280 | €2,717,506 | €2,717,506 | = | 0.0% |
| Other financial fixed assets | 284/8 | €125 | €125 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €1,689,353 | €488,001 | -€1.2m | -71.1% |
| Amounts receivable within one year | 40/41 | €1,420,140 | €298,983 | -€1.1m | -78.9% |
| Trade receivables | 40 | €25,642 | €12,000 | -€13,642 | -53.2% |
| Other amounts receivable | 41 | €1,394,497 | €286,983 | -€1.1m | -79.4% |
| Cash at bank and in hand | 54/58 | €244,408 | €153,381 | -€91,027 | -37.2% |
| Deferred charges and accrued income | 490/1 | €24,806 | €35,638 | +€10,832 | +43.7% |
| Total equity and liabilities | 10/49 | €9,681,227 | €8,213,461 | -€1.5m | -15.2% |
| Equity | 10/15 | €3,368,445 | €3,698,863 | +€330,418 | +9.8% |
| Contributions | 10/11 | €822,300 | €822,300 | = | 0.0% |
| Capital | 10 | €822,300 | €822,300 | = | 0.0% |
| Issued capital | 100 | €822,300 | €822,300 | = | 0.0% |
| Reserves | 13 | €2,546,145 | €2,876,563 | +€330,418 | +13.0% |
| Non-distributable reserves | 130/1 | €82,230 | €82,230 | = | 0.0% |
| Legal reserve | 130 | €82,230 | €82,230 | = | 0.0% |
| Distributable reserves | 133 | €2,463,915 | €2,794,333 | +€330,418 | +13.4% |
| Amounts payable | 17/49 | €6,312,782 | €4,514,598 | -€1.8m | -28.5% |
| Amounts payable after more than one year | 17 | €5,608,149 | €4,011,496 | -€1.6m | -28.5% |
| Financial debts | 170/4 | €5,608,149 | €4,011,496 | -€1.6m | -28.5% |
| Credit institutions | 173 | €2,952,791 | €2,641,504 | -€311,287 | -10.5% |
| Other loans | 174 | €2,655,358 | €1,369,992 | -€1.3m | -48.4% |
| Amounts payable within one year | 42/48 | €700,232 | €499,111 | -€201,121 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €331,630 | €337,003 | +€5,373 | +1.6% |
| Financial debts | 43 | €8,443 | €8,415 | -€28 | -0.3% |
| Credit institutions | 430/8 | €8,443 | €8,415 | -€28 | -0.3% |
| Trade debts | 44 | €1,912 | €5,260 | +€3,348 | +175% |
| Suppliers | 440/4 | €1,912 | €5,260 | +€3,348 | +175% |
| Taxes, remuneration and social security | 45 | €8,246 | €18,433 | +€10,186 | +124% |
| Taxes | 450/3 | €8,246 | €18,433 | +€10,186 | +124% |
| Other amounts payable | 47/48 | €350,000 | €130,000 | -€220,000 | -62.9% |
| Accrued charges and deferred income | 492/3 | €4,401 | €3,991 | -€410 | -9.3% |
| Operating income | 70/76A | €572,841 | €591,678 | +€18,837 | +3.3% |
| Turnover | 70 | €164,642 | €166,420 | +€1,778 | +1.1% |
| Other operating income | 74 | €408,199 | €425,258 | +€17,059 | +4.2% |
| Operating charges | 60/66A | €337,460 | €343,624 | +€6,164 | +1.8% |
| Services and other goods | 61 | €37,481 | €40,875 | +€3,394 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,278 | €268,925 | +€647 | +0.2% |
| Other operating charges | 640/8 | €31,701 | €33,824 | +€2,123 | +6.7% |
| Operating profit (loss) | 9901 | €235,381 | €248,054 | +€12,673 | +5.4% |
| Financial income | 75/76B | €302,402 | €350,000 | +€47,599 | +15.7% |
| Recurring financial income | 75 | €302,402 | €350,000 | +€47,599 | +15.7% |
| Income from financial fixed assets | 750 | €300,000 | €350,000 | +€50,000 | +16.7% |
| Income from current assets | 751 | €2,402 | - | -€2,402 | |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €118,480 | €100,511 | -€17,969 | -15.2% |
| Recurring financial charges | 65 | €118,480 | €100,511 | -€17,969 | -15.2% |
| Debt charges | 650 | €118,136 | €100,185 | -€17,951 | -15.2% |
| Other financial charges | 652/9 | €344 | €325 | -€18 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €419,302 | €497,544 | +€78,241 | +18.7% |
| Income taxes | 67/77 | €29,826 | €37,126 | +€7,300 | +24.5% |
| Taxes | 670/3 | €29,826 | €37,126 | +€7,300 | +24.5% |
| Profit (loss) for the period | 9904 | €389,477 | €460,418 | +€70,941 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €389,477 | €460,418 | +€70,941 | +18.2% |
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 13 October 2026 via checked.be.