PRIMABEL: 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.
PRIMABEL
Largest movements
- Stocks and contracts -€450,469
down €450,469 (-19.8%), from €2.3m to €1.8m
- Receivables within one year +€391,670
up €391,670 (+10.4%), from €3.8m to €4.2m
of which Other amounts receivable: +€485,644
- Cash +€159,065
up €159,065 (+253%), from €62,949 to €222,014
mainly Stocks and contracts (+€450,469) and Short-term financial debts (+€202,268)
- Short-term financial debts +€202,268
up €202,268 (+5.1%), from €4.0m to €4.2m
- Other debts -€86,000
down €86,000 (-46.2%), from €186,000 to €100,000
- Gross operating margin -€103,678
down €103,678 (-32.3%), from €321,119 to €217,441
- Financial charges -€57,195
down €57,195 (-22.5%), from €254,264 to €197,069
- Other operating charges -€10,775
down €10,775 (-58.7%), from €18,357 to €7,582
- Taxes -€9,799
down €9,799 (-74.1%), from €13,216 to €3,417
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,122,019 | €6,219,001 | +€96,982 | +1.6% |
| Fixed assets | 21/28 | €5,000 | €5,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €6,117,019 | €6,214,001 | +€96,982 | +1.6% |
| Stocks and contracts in progress | 3 | €2,276,549 | €1,826,081 | -€450,469 | -19.8% |
| Stocks | 30/36 | €2,276,549 | €1,826,081 | -€450,469 | -19.8% |
| Amounts receivable within one year | 40/41 | €3,774,156 | €4,165,826 | +€391,670 | +10.4% |
| Trade receivables | 40 | €168,581 | €74,606 | -€93,974 | -55.7% |
| Other amounts receivable | 41 | €3,605,575 | €4,091,219 | +€485,644 | +13.5% |
| Cash at bank and in hand | 54/58 | €62,949 | €222,014 | +€159,065 | +253% |
| Deferred charges and accrued income | 490/1 | €3,365 | €80 | -€3,284 | -97.6% |
| Total equity and liabilities | 10/49 | €6,122,019 | €6,219,001 | +€96,982 | +1.6% |
| Equity | 10/15 | €1,232,181 | €1,241,567 | +€9,386 | +0.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €990,213 | €990,213 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €984,013 | €984,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,968 | €189,354 | +€9,386 | +5.2% |
| Amounts payable | 17/49 | €4,889,838 | €4,977,434 | +€87,596 | +1.8% |
| Amounts payable after more than one year | 17 | €648,231 | €648,231 | = | 0.0% |
| Other amounts payable | 178/9 | €648,231 | €648,231 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,237,802 | €4,325,390 | +€87,589 | +2.1% |
| Financial debts | 43 | €3,951,898 | €4,154,167 | +€202,268 | +5.1% |
| Credit institutions | 430/8 | €3,951,898 | €4,154,167 | +€202,268 | +5.1% |
| Trade debts | 44 | €21,042 | €10,591 | -€10,451 | -49.7% |
| Suppliers | 440/4 | €21,042 | €10,591 | -€10,451 | -49.7% |
| Advances received on contracts in progress | 46 | €56,000 | €44,000 | -€12,000 | -21.4% |
| Taxes, remuneration and social security | 45 | €22,861 | €16,633 | -€6,229 | -27.2% |
| Taxes | 450/3 | €22,861 | €16,633 | -€6,229 | -27.2% |
| Other amounts payable | 47/48 | €186,000 | €100,000 | -€86,000 | -46.2% |
| Accrued charges and deferred income | 492/3 | €3,806 | €3,813 | +€7 | +0.2% |
| Other operating charges | 640/8 | €18,357 | €7,582 | -€10,775 | -58.7% |
| Gross operating margin | 9900 | €321,119 | €217,441 | -€103,678 | -32.3% |
| Operating profit (loss) | 9901 | €302,763 | €209,859 | -€92,904 | -30.7% |
| Financial income | 75/76B | €0 | €12 | +€12 | |
| Recurring financial income | 75 | €0 | €12 | +€12 | |
| Financial charges | 65/66B | €254,264 | €197,069 | -€57,195 | -22.5% |
| Recurring financial charges | 65 | €254,264 | €197,069 | -€57,195 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €48,499 | €12,802 | -€35,696 | -73.6% |
| Income taxes | 67/77 | €13,216 | €3,417 | -€9,799 | -74.1% |
| Profit (loss) for the period | 9904 | €35,283 | €9,386 | -€25,897 | -73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,283 | €9,386 | -€25,897 | -73.4% |
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 14 October 2026 via checked.be.