Primmo: 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
Primmo
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€91,506
2024 · -€24,719+€116,225
Equity
€1.6m
2024 · €1.5m+€91,506
Cash
€45,460
2024 · €38,657+€6,803
Balance sheet total
€4.6m
2024 · €4.7m-€120,823
Largest movements
Assets
- Tangible fixed assets -€146,628
down €146,628 (-3.2%), from €4.6m to €4.5m
of which Land and buildings: -€143,046
Equity and liabilities
- Debts after one year -€261,258
down €261,258 (-10.6%), from €2.5m to €2.2m
- Reserves +€95,628
up €95,628 (+6.7%), from €1.4m to €1.5m
of which Distributable reserves: +€120,000
Income statement
- Gross operating margin +€106,679
up €106,679 (+35.2%), from €303,031 to €409,710
- Financial charges -€47,866
down €47,866 (-44.5%), from €107,456 to €59,590
- Taxes +€42,147
up €42,147, from -€47 to €42,100
- Other operating charges -€8,874
down €8,874 (-24.4%), from €36,360 to €27,486
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
-€24,719
Gross operating margin
+€106,679
Staff costs
-€1,080
Depreciation
+€929
Other operating charges
+€8,874
Other operating items
-€4,896
Financial charges
+€47,866
Taxes
-€42,147
Result 2025
€91,506
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
+€263,890
Investment
-€1,584
Financing
-€255,503
Cash 2024
€38,657
From operations (derived)
+€263,890
Net result for the year
+€91,506
Depreciation
+€148,212
Receivables within one year
+€9,206
Deferred charges and accrued income
-€28,208
Provisions
-€6,093
Trade debts
+€553
Tax, wage and social debts
+€42,513
Other debts
-€12,439
Accrued charges and deferred income
+€18,640
Investment (derived)
-€1,584
Investment in fixed assets (net)
-€1,584
Financing
-€255,503
Debts after one year
-€261,258
Current portion of long-term debt
+€5,755
Cash 2025
€45,460
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,696,670 | €4,575,847 | -€120,823 | -2.6% |
| Fixed assets | 21/28 | €4,646,349 | €4,499,721 | -€146,628 | -3.2% |
| Tangible fixed assets | 22/27 | €4,646,349 | €4,499,721 | -€146,628 | -3.2% |
| Land and buildings | 22 | €4,637,338 | €4,494,292 | -€143,046 | -3.1% |
| Furniture and vehicles | 24 | €9,011 | €5,429 | -€3,582 | -39.8% |
| Current assets | 29/58 | €50,321 | €76,126 | +€25,805 | +51.3% |
| Amounts receivable within one year | 40/41 | €9,206 | - | -€9,206 | |
| Trade receivables | 40 | €2,049 | - | -€2,049 | |
| Other amounts receivable | 41 | €7,157 | - | -€7,157 | |
| Current investments | 50/53 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,657 | €45,460 | +€6,803 | +17.6% |
| Deferred charges and accrued income | 490/1 | €2,455 | €30,663 | +€28,208 | +1149.0% |
| Total equity and liabilities | 10/49 | €4,696,670 | €4,575,847 | -€120,823 | -2.6% |
| Equity | 10/15 | €1,509,638 | €1,601,144 | +€91,506 | +6.1% |
| 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 | €1,431,201 | €1,526,829 | +€95,628 | +6.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €625,001 | €600,629 | -€24,372 | -3.9% |
| Distributable reserves | 133 | €800,000 | €920,000 | +€120,000 | +15.0% |
| Profit (loss) carried forward | 14 | €16,437 | €12,315 | -€4,122 | -25.1% |
| Provisions and deferred taxes | 16 | €148,646 | €142,553 | -€6,093 | -4.1% |
| Deferred taxes | 168 | €148,646 | €142,553 | -€6,093 | -4.1% |
| Amounts payable | 17/49 | €3,038,386 | €2,832,150 | -€206,236 | -6.8% |
| Amounts payable after more than one year | 17 | €2,461,306 | €2,200,048 | -€261,258 | -10.6% |
| Financial debts | 170/4 | €2,461,306 | €2,200,048 | -€261,258 | -10.6% |
| Amounts payable within one year | 42/48 | €555,410 | €591,792 | +€36,382 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €277,033 | €282,788 | +€5,755 | +2.1% |
| Trade debts | 44 | €16,001 | €16,554 | +€553 | +3.5% |
| Suppliers | 440/4 | €16,001 | €16,554 | +€553 | +3.5% |
| Taxes, remuneration and social security | 45 | €7,275 | €49,788 | +€42,513 | +584.4% |
| Taxes | 450/3 | €3,466 | €45,697 | +€42,231 | +1218.4% |
| Remuneration and social security | 454/9 | €3,809 | €4,091 | +€282 | +7.4% |
| Other amounts payable | 47/48 | €255,101 | €242,662 | -€12,439 | -4.9% |
| Accrued charges and deferred income | 492/3 | €21,670 | €40,310 | +€18,640 | +86.0% |
| Remuneration, social security and pensions | 62 | €40,938 | €42,018 | +€1,080 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,141 | €148,212 | -€929 | -0.6% |
| Other operating charges | 640/8 | €36,360 | €27,486 | -€8,874 | -24.4% |
| Non-recurring operating charges | 66A | - | €4,896 | +€4,896 | |
| Gross operating margin | 9900 | €303,031 | €409,710 | +€106,679 | +35.2% |
| Operating profit (loss) | 9901 | €76,592 | €187,098 | +€110,506 | +144.3% |
| Financial income | 75/76B | €5 | €5 | = | 0.0% |
| Recurring financial income | 75 | €5 | €5 | = | 0.0% |
| Financial charges | 65/66B | €107,456 | €59,590 | -€47,866 | -44.5% |
| Recurring financial charges | 65 | €107,456 | €59,590 | -€47,866 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | -€30,859 | €127,513 | +€158,372 | |
| Transfer from deferred taxes | 780 | €6,093 | €6,093 | = | 0.0% |
| Income taxes | 67/77 | -€47 | €42,100 | +€42,147 | |
| Profit (loss) for the period | 9904 | -€24,719 | €91,506 | +€116,225 | |
| Transfer from tax-exempt reserves | 789 | €24,372 | €24,372 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€347 | €115,878 | +€116,225 |
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 10 October 2026 via checked.be.