PRIMOCASTEL: 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.
PRIMOCASTEL
Largest movements
- Stocks and contracts +€667,227
up €667,227 (+13.7%), from €4.9m to €5.5m
- Cash -€467,352
down €467,352 (-65.7%), from €710,945 to €243,594
mainly Contributions, distributions and other (-€890,909) and Stocks and contracts (-€667,227)
- Receivables within one year +€194,842
up €194,842 (+35.4%), from €550,329 to €745,171
of which Trade receivables: +€107,240
- Other debts +€405,909
new in 2025: €405,909
- Advances received +€208,922
up €208,922 (+1,720%), from €12,143 to €221,065
- Short-term financial debts +€200,000
new in 2025: €200,000
- Reserves -€190,000
down €190,000 (-5.1%), from €3.7m to €3.5m
- Debts after one year -€171,371
down €171,371 (-9.5%), from €1.8m to €1.6m
- Gross operating margin -€240,672
down €240,672 (-11.0%), from €2.2m to €1.9m
- Staff costs +€123,823
up €123,823 (+24.3%), from €508,757 to €632,580
- Taxes -€103,754
down €103,754 (-23.6%), from €439,030 to €335,276
- Depreciation -€91,701
down €91,701 (-44.0%), from €208,468 to €116,767
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 | €8,520,767 | €8,846,539 | +€325,772 | +3.8% |
| Fixed assets | 21/28 | €2,367,819 | €2,290,019 | -€77,800 | -3.3% |
| Tangible fixed assets | 22/27 | €2,367,744 | €2,289,944 | -€77,800 | -3.3% |
| Land and buildings | 22 | €2,271,214 | €2,216,272 | -€54,942 | -2.4% |
| Furniture and vehicles | 24 | €96,530 | €73,671 | -€22,858 | -23.7% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €6,152,948 | €6,556,520 | +€403,572 | +6.6% |
| Stocks and contracts in progress | 3 | €4,875,278 | €5,542,505 | +€667,227 | +13.7% |
| Stocks | 30/36 | €4,875,278 | €5,542,505 | +€667,227 | +13.7% |
| Amounts receivable within one year | 40/41 | €550,329 | €745,171 | +€194,842 | +35.4% |
| Trade receivables | 40 | €115,494 | €222,734 | +€107,240 | +92.9% |
| Other amounts receivable | 41 | €434,835 | €522,438 | +€87,603 | +20.1% |
| Cash at bank and in hand | 54/58 | €710,945 | €243,594 | -€467,352 | -65.7% |
| Deferred charges and accrued income | 490/1 | €16,396 | €25,250 | +€8,854 | +54.0% |
| Total equity and liabilities | 10/49 | €8,520,767 | €8,846,539 | +€325,772 | +3.8% |
| Equity | 10/15 | €4,668,426 | €4,479,299 | -€189,126 | -4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,728,224 | €3,538,224 | -€190,000 | -5.1% |
| Distributable reserves | 133 | €3,728,224 | €3,538,224 | -€190,000 | -5.1% |
| Profit (loss) carried forward | 14 | €921,602 | €922,476 | +€874 | +0.1% |
| Amounts payable | 17/49 | €3,852,341 | €4,367,239 | +€514,898 | +13.4% |
| Amounts payable after more than one year | 17 | €1,805,011 | €1,633,641 | -€171,371 | -9.5% |
| Financial debts | 170/4 | €1,805,011 | €1,633,641 | -€171,371 | -9.5% |
| Amounts payable within one year | 42/48 | €2,047,330 | €2,733,599 | +€686,269 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €1,114,430 | €1,216,463 | +€102,033 | +9.2% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Other loans | 439 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €505,255 | €339,781 | -€165,474 | -32.8% |
| Suppliers | 440/4 | €505,255 | €339,781 | -€165,474 | -32.8% |
| Advances received on contracts in progress | 46 | €12,143 | €221,065 | +€208,922 | +1,720% |
| Taxes, remuneration and social security | 45 | €415,502 | €350,381 | -€65,121 | -15.7% |
| Taxes | 450/3 | €331,484 | €217,654 | -€113,830 | -34.3% |
| Remuneration and social security | 454/9 | €84,018 | €132,727 | +€48,710 | +58.0% |
| Other amounts payable | 47/48 | - | €405,909 | +€405,909 | |
| Remuneration, social security and pensions | 62 | €508,757 | €632,580 | +€123,823 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,468 | €116,767 | -€91,701 | -44.0% |
| Other operating charges | 640/8 | €57,049 | €43,295 | -€13,754 | -24.1% |
| Non-recurring operating charges | 66A | - | €22,430 | +€22,430 | |
| Gross operating margin | 9900 | €2,188,480 | €1,947,808 | -€240,672 | -11.0% |
| Operating profit (loss) | 9901 | €1,414,206 | €1,132,735 | -€281,471 | -19.9% |
| Financial income | 75/76B | €11 | €187 | +€176 | +1,528% |
| Recurring financial income | 75 | €11 | €187 | +€176 | +1,528% |
| Financial charges | 65/66B | €79,264 | €95,863 | +€16,599 | +20.9% |
| Recurring financial charges | 65 | €79,264 | €95,863 | +€16,599 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €1,334,954 | €1,037,059 | -€297,895 | -22.3% |
| Income taxes | 67/77 | €439,030 | €335,276 | -€103,754 | -23.6% |
| Profit (loss) for the period | 9904 | €895,923 | €701,783 | -€194,141 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €895,923 | €701,783 | -€194,141 | -21.7% |
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 20 October 2026 via checked.be.