PREFAHAY: 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
PREFAHAY
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.5m-€391,116
Equity
€20.7m
2024 · €20.3m+€359,683
Cash
€272,782
2024 · €245,935+€26,848
Balance sheet total
€21.4m
2024 · €21.1m+€364,764
Largest movements
Assets
- Current investments +€322,845
up €322,845 (+7.6%), from €4.3m to €4.6m
Equity and liabilities
- Profit (loss) carried forward +€359,683
up €359,683 (+4.3%), from €8.4m to €8.8m
Income statement
- Financial income -€393,240
down €393,240 (-24.6%), from €1.6m to €1.2m
- Gross operating margin +€10,854
up €10,854 (+9.7%), from -€111,741 to -€100,887
- Purchases and services -€10,854
down €10,854 (-9.7%), from €111,741 to €100,887
- Financial charges +€8,699
up €8,699 (+29.8%), from €29,185 to €37,884
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
€1.5m
Gross operating margin
+€10,854
Other operating charges
-€31
Financial income
-€393,240
Financial charges
-€8,699
Result 2025
€1.1m
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
+€1.1m
Investment
-€322,845
Financing
-€707,653
Cash 2024
€245,935
From operations (derived)
+€1.1m
Net result for the year
+€1.1m
Receivables within one year
-€15,025
Deferred charges and accrued income
-€45
Trade debts
-€5,752
Other debts
+€10,833
Investment (derived)
-€322,845
Current investments
-€322,845
Financing
-€707,653
Contributions, distributions and other
-€707,653
Cash 2025
€272,782
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,051,297 | €21,416,061 | +€364,764 | +1.7% |
| Fixed assets | 21/28 | €16,508,247 | €16,508,247 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €16,508,247 | €16,508,247 | = | 0.0% |
| Current assets | 29/58 | €4,543,050 | €4,907,814 | +€364,764 | +8.0% |
| Amounts receivable within one year | 40/41 | €26,938 | €41,963 | +€15,025 | +55.8% |
| Other amounts receivable | 41 | €26,938 | €41,963 | +€15,025 | +55.8% |
| Current investments | 50/53 | €4,268,997 | €4,591,843 | +€322,845 | +7.6% |
| Cash at bank and in hand | 54/58 | €245,935 | €272,782 | +€26,848 | +10.9% |
| Deferred charges and accrued income | 490/1 | €1,180 | €1,225 | +€45 | +3.8% |
| Total equity and liabilities | 10/49 | €21,051,297 | €21,416,061 | +€364,764 | +1.7% |
| Equity | 10/15 | €20,329,477 | €20,689,160 | +€359,683 | +1.8% |
| Contributions | 10/11 | €10,830,000 | €10,830,000 | = | 0.0% |
| Capital | 10 | €10,830,000 | €10,830,000 | = | 0.0% |
| Issued capital | 100 | €10,830,000 | €10,830,000 | = | 0.0% |
| Reserves | 13 | €1,083,000 | €1,083,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,083,000 | €1,083,000 | = | 0.0% |
| Legal reserve | 130 | €1,083,000 | €1,083,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,416,477 | €8,776,160 | +€359,683 | +4.3% |
| Amounts payable | 17/49 | €721,820 | €726,901 | +€5,081 | +0.7% |
| Amounts payable within one year | 42/48 | €721,797 | €726,878 | +€5,081 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €24,977 | €19,225 | -€5,752 | -23.0% |
| Suppliers | 440/4 | €24,977 | €19,225 | -€5,752 | -23.0% |
| Taxes, remuneration and social security | 45 | - | €0 | = | |
| Taxes | 450/3 | - | €0 | = | |
| Other amounts payable | 47/48 | €696,820 | €707,653 | +€10,833 | +1.6% |
| Accrued charges and deferred income | 492/3 | €23 | €23 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €111,741 | €100,887 | -€10,854 | -9.7% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€111,741 | -€100,887 | +€10,854 | +9.7% |
| Operating profit (loss) | 9901 | -€112,708 | -€101,885 | +€10,823 | +9.6% |
| Financial income | 75/76B | €1,600,345 | €1,207,105 | -€393,240 | -24.6% |
| Recurring financial income | 75 | €1,600,345 | €1,207,105 | -€393,240 | -24.6% |
| Financial charges | 65/66B | €29,185 | €37,884 | +€8,699 | +29.8% |
| Recurring financial charges | 65 | €29,185 | €37,884 | +€8,699 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | €1,458,452 | €1,067,336 | -€391,116 | -26.8% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €1,458,452 | €1,067,336 | -€391,116 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,458,452 | €1,067,336 | -€391,116 | -26.8% |
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 25 October 2026 via checked.be.