PRIMABEL: 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
PRIMABEL
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€23,198
2024 · €966,228-€989,427
Equity
€1.3m
2024 · €1.3m-€23,198
Cash
€65,376
2024 · €141,820-€76,444
Balance sheet total
€1.3m
2024 · €1.3m-€31,898
Largest movements
Assets
- Cash -€76,444
down €76,444 (-53.9%), from €141,820 to €65,376
mainly Current investments (-€52,920) and Net result for the year (-€23,198)
- Current investments +€52,920
up €52,920 (+8.7%), from €607,335 to €660,255
Equity and liabilities
- Profit (loss) carried forward -€23,198
down €23,198, from €0 to -€23,198
Income statement
- Gross operating margin -€1.2m
down €1.2m, from €1.2m to -€5,909
- Taxes -€191,201
down €191,201 (-100.0%), from €191,201 to €0
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
€966,228
Gross operating margin
-€1.2m
Depreciation
-€1,782
Other operating charges
+€7,949
Financial income
+€2,981
Financial charges
-€302
Taxes
+€191,201
Result 2025
-€23,198
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
-€14,841
Investment
-€56,367
Financing
-€5,236
Cash 2024
€141,820
From operations (derived)
-€14,841
Net result for the year
-€23,198
Depreciation
+€15,196
Receivables within one year
-€3,375
Trade debts
-€4,877
Tax, wage and social debts
-€99
Other debts
+€1,512
Investment (derived)
-€56,367
Investment in fixed assets (net)
-€3,447
Current investments
-€52,920
Financing
-€5,236
Current portion of long-term debt
-€5,236
Cash 2025
€65,376
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,349,430 | €1,317,532 | -€31,898 | -2.4% |
| Fixed assets | 21/28 | €597,772 | €586,023 | -€11,749 | -2.0% |
| Tangible fixed assets | 22/27 | €571,829 | €560,080 | -€11,749 | -2.1% |
| Land and buildings | 22 | €530,189 | €525,224 | -€4,965 | -0.9% |
| Plant, machinery and equipment | 23 | €1,126 | €0 | -€1,126 | -100.0% |
| Other tangible fixed assets | 26 | €40,514 | €34,856 | -€5,658 | -14.0% |
| Financial fixed assets | 28 | €25,943 | €25,943 | = | 0.0% |
| Current assets | 29/58 | €751,659 | €731,510 | -€20,149 | -2.7% |
| Amounts receivable within one year | 40/41 | €4 | €3,379 | +€3,375 | +85879.1% |
| Other amounts receivable | 41 | €4 | €3,379 | +€3,375 | +85879.1% |
| Current investments | 50/53 | €607,335 | €660,255 | +€52,920 | +8.7% |
| Cash at bank and in hand | 54/58 | €141,820 | €65,376 | -€76,444 | -53.9% |
| Deferred charges and accrued income | 490/1 | €2,500 | €2,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,349,430 | €1,317,532 | -€31,898 | -2.4% |
| Equity | 10/15 | €1,305,638 | €1,282,440 | -€23,198 | -1.8% |
| Contributions | 10/11 | €794,400 | €794,400 | = | 0.0% |
| Reserves | 13 | €511,238 | €511,238 | = | 0.0% |
| Tax-exempt reserves | 132 | €273,650 | €273,650 | = | 0.0% |
| Distributable reserves | 133 | €237,588 | €237,588 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€23,198 | -€23,198 | |
| Amounts payable | 17/49 | €43,792 | €35,092 | -€8,700 | -19.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €43,792 | €35,092 | -€8,700 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €5,236 | €0 | -€5,236 | -100.0% |
| Trade debts | 44 | €8,110 | €3,233 | -€4,877 | -60.1% |
| Suppliers | 440/4 | €8,110 | €3,233 | -€4,877 | -60.1% |
| Taxes, remuneration and social security | 45 | €9,227 | €9,128 | -€99 | -1.1% |
| Taxes | 450/3 | €9,227 | €9,128 | -€99 | -1.1% |
| Other amounts payable | 47/48 | €21,220 | €22,732 | +€1,512 | +7.1% |
| Non-recurring operating income | 76A | €1,180,072 | €0 | -€1.2m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,413 | €15,196 | +€1,782 | +13.3% |
| Other operating charges | 640/8 | €18,236 | €10,288 | -€7,949 | -43.6% |
| Gross operating margin | 9900 | €1,183,564 | -€5,909 | -€1.2m | |
| Operating profit (loss) | 9901 | €1,151,914 | -€31,392 | -€1.2m | |
| Financial income | 75/76B | €8,282 | €11,263 | +€2,981 | +36.0% |
| Recurring financial income | 75 | €8,282 | €11,263 | +€2,981 | +36.0% |
| Financial charges | 65/66B | €2,768 | €3,070 | +€302 | +10.9% |
| Recurring financial charges | 65 | €2,768 | €3,070 | +€302 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €1,157,429 | -€23,198 | -€1.2m | |
| Income taxes | 67/77 | €191,201 | €0 | -€191,201 | -100.0% |
| Profit (loss) for the period | 9904 | €966,228 | -€23,198 | -€989,427 | |
| Transfer to tax-exempt reserves | 689 | €273,650 | €0 | -€273,650 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €692,578 | -€23,198 | -€715,777 |
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.