Premier Development Fund: 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
Premier Development Fund
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.6m
2024 · €6.9m-€4.3m
Equity
€21.6m
2024 · €29.1m-€7.4m
Cash
€2.2m
2024 · €2.2m+€81,992
Balance sheet total
€25.9m
2024 · €32.8m-€7.0m
Largest movements
Assets
- Current investments -€8.5m
down €8.5m (-77.3%), from €11.0m to €2.5m
- Receivables within one year +€1.6m
up €1.6m (+37.0%), from €4.3m to €5.8m
of which Other amounts receivable: +€1.6m
- Financial fixed assets -€448,019
down €448,019 (-3.6%), from €12.5m to €12.0m
of which Companies linked by participating interests: -€514,092
Equity and liabilities
- Profit (loss) carried forward -€6.9m
no longer reported in 2025 (was €6.9m)
- Contributions -€4.3m
down €4.3m (-30.6%), from €14.0m to €9.7m
- Reserves +€3.7m
up €3.7m (+45.5%), from €8.2m to €11.9m
of which Distributable reserves: +€3.7m
- Other debts +€362,895
up €362,895 (+11.4%), from €3.2m to €3.5m
Income statement
- Financial income -€8.6m
down €8.6m (-81.3%), from €10.6m to €2.0m
of which Financial income: -€8.6m
- Financial charges -€4.3m
down €4.3m, from €3.1m to -€1.2m
of which Financial charges: -€3.5m
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
€6.9m
Other operating charges
+€4,139
Other operating items
+€20,619
Financial income
-€8.6m
Financial charges
+€4.3m
Result 2025
€2.6m
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
+€1.1m
Investment
+€8.9m
Financing
-€10.0m
Cash 2024
€2.2m
From operations (derived)
+€1.1m
Net result for the year
+€2.6m
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€309,525
Trade debts
-€14,400
Other debts
+€362,895
Accrued charges and deferred income
+€100,162
Investment (derived)
+€8.9m
Investment in fixed assets (net)
+€448,019
Current investments
+€8.5m
Financing
-€10.0m
Contributions, distributions and other
-€10.0m
Cash 2025
€2.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,838,214 | €25,858,732 | -€7.0m | -21.3% |
| Fixed assets | 21/28 | €12,460,412 | €12,012,392 | -€448,019 | -3.6% |
| Financial fixed assets | 28 | €12,460,412 | €12,012,392 | -€448,019 | -3.6% |
| Affiliated companies | 280/1 | €7,742,598 | €7,808,671 | +€66,073 | +0.9% |
| Participating interests | 280 | €4,768,848 | €4,771,594 | +€2,746 | +0.1% |
| Amounts receivable | 281 | €2,973,750 | €3,037,076 | +€63,326 | +2.1% |
| Companies linked by participating interests | 282/3 | €4,717,814 | €4,203,722 | -€514,092 | -10.9% |
| Participating interests | 282 | €2,682,314 | €3,518,459 | +€836,145 | +31.2% |
| Amounts receivable | 283 | €2,035,500 | €685,263 | -€1.4m | -66.3% |
| Current assets | 29/58 | €20,377,802 | €13,846,340 | -€6.5m | -32.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,266,116 | €5,843,136 | +€1.6m | +37.0% |
| Trade receivables | 40 | €197 | €0 | -€197 | -100.0% |
| Other amounts receivable | 41 | €4,265,918 | €5,843,136 | +€1.6m | +37.0% |
| Current investments | 50/53 | €11,000,000 | €2,500,000 | -€8.5m | -77.3% |
| Other investments | 51/53 | €11,000,000 | €2,500,000 | -€8.5m | -77.3% |
| Cash at bank and in hand | 54/58 | €2,159,054 | €2,241,046 | +€81,992 | +3.8% |
| Deferred charges and accrued income | 490/1 | €2,952,633 | €3,262,158 | +€309,525 | +10.5% |
| Total equity and liabilities | 10/49 | €32,838,214 | €25,858,732 | -€7.0m | -21.3% |
| Equity | 10/15 | €29,064,566 | €21,636,428 | -€7.4m | -25.6% |
| Contributions | 10/11 | €14,000,000 | €9,720,000 | -€4.3m | -30.6% |
| Reserves | 13 | €8,189,258 | €11,916,428 | +€3.7m | +45.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €8,189,258 | €11,916,428 | +€3.7m | +45.5% |
| Profit (loss) carried forward | 14 | €6,875,308 | - | -€6.9m | |
| Amounts payable | 17/49 | €3,773,648 | €4,222,305 | +€448,657 | +11.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other loans | 174 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,347,033 | €3,695,527 | +€348,495 | +10.4% |
| Trade debts | 44 | €171,182 | €156,782 | -€14,400 | -8.4% |
| Suppliers | 440/4 | €171,182 | €156,782 | -€14,400 | -8.4% |
| Taxes, remuneration and social security | 45 | €5,000 | €5,000 | = | 0.0% |
| Taxes | 450/3 | €1,100 | €1,100 | = | 0.0% |
| Remuneration and social security | 454/9 | €3,900 | €3,900 | = | 0.0% |
| Other amounts payable | 47/48 | €3,170,851 | €3,533,746 | +€362,895 | +11.4% |
| Accrued charges and deferred income | 492/3 | €426,615 | €526,777 | +€100,162 | +23.5% |
| Operating charges | 60/66A | €646,316 | €621,558 | -€24,758 | -3.8% |
| Services and other goods | 61 | €627,395 | €606,861 | -€20,534 | -3.3% |
| Other operating charges | 640/8 | €18,836 | €14,697 | -€4,139 | -22.0% |
| Non-recurring operating charges | 66A | €85 | €0 | -€85 | -100.0% |
| Operating profit (loss) | 9901 | -€646,316 | -€621,558 | +€24,758 | +3.8% |
| Financial income | 75/76B | €10,584,599 | €1,981,697 | -€8.6m | -81.3% |
| Recurring financial income | 75 | €10,584,599 | €1,978,950 | -€8.6m | -81.3% |
| Income from financial fixed assets | 750 | €10,283,240 | €1,840,191 | -€8.4m | -82.1% |
| Income from current assets | 751 | €301,359 | €138,759 | -€162,599 | -54.0% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -90.9% |
| Non-recurring financial income | 76B | - | €2,746 | +€2,746 | |
| Financial charges | 65/66B | €3,062,975 | -€1,211,723 | -€4.3m | |
| Recurring financial charges | 65 | €2,180,748 | -€1,296,428 | -€3.5m | |
| Debt charges | 650 | €432,706 | €103,632 | -€329,074 | -76.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €1,746,640 | -€1,400,519 | -€3.1m | |
| Other financial charges | 652/9 | €1,402 | €459 | -€943 | -67.2% |
| Non-recurring financial charges | 66B | €882,227 | €84,705 | -€797,522 | -90.4% |
| Profit (loss) for the period before taxes | 9903 | €6,875,308 | €2,571,862 | -€4.3m | -62.6% |
| Profit (loss) for the period | 9904 | €6,875,308 | €2,571,862 | -€4.3m | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,875,308 | €2,571,862 | -€4.3m | -62.6% |
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 8 October 2026 via checked.be.