PRINCESS: 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
PRINCESS
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€57,242
2024 · €46,242+€11,000
Equity
€884,897
2024 · €839,655+€45,242
Cash
€41,309
2024 · €40,934+€375
Balance sheet total
€1.1m
2024 · €1.1m-€3,412
Largest movements
Assets
- Current investments +€17,999
up €17,999 (+300.0%), from €6,000 to €23,999
- Tangible fixed assets -€17,176
down €17,176 (-1.6%), from €1.1m to €1.1m
of which Land and buildings: -€13,115
Equity and liabilities
- Reserves +€45,242
up €45,242 (+6.3%), from €715,708 to €760,951
of which Distributable reserves: +€49,347
- Debts after one year -€41,504
down €41,504 (-22.2%), from €186,674 to €145,170
Income statement
- Gross operating margin +€9,928
up €9,928 (+6.7%), from €147,323 to €157,251
- Depreciation -€7,535
down €7,535 (-14.2%), from €53,219 to €45,684
- Taxes +€5,170
up €5,170 (+25.9%), from €19,943 to €25,113
- Financial income -€2,905
down €2,905 (-82.9%), from €3,502 to €597
- Financial charges -€2,220
down €2,220 (-14.6%), from €15,256 to €13,036
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
€46,242
Gross operating margin
+€9,928
Depreciation
+€7,535
Other operating charges
-€608
Financial income
-€2,905
Financial charges
+€2,220
Taxes
-€5,170
Result 2025
€57,242
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
+€100,386
Investment
-€46,507
Financing
-€53,504
Cash 2024
€40,934
From operations (derived)
+€100,386
Net result for the year
+€57,242
Depreciation
+€45,684
Receivables within one year
+€1,896
Deferred charges and accrued income
+€2,714
Provisions
-€1,368
Trade debts
-€3,485
Tax, wage and social debts
+€3,931
Other debts
-€6,589
Accrued charges and deferred income
+€362
Investment (derived)
-€46,507
Investment in fixed assets (net)
-€28,508
Current investments
-€17,999
Financing
-€53,504
Debts after one year
-€41,504
Contributions, distributions and other
-€12,000
Cash 2025
€41,309
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,128,867 | €1,125,455 | -€3,412 | -0.3% |
| Fixed assets | 21/28 | €1,076,794 | €1,059,617 | -€17,176 | -1.6% |
| Tangible fixed assets | 22/27 | €1,076,794 | €1,059,617 | -€17,176 | -1.6% |
| Land and buildings | 22 | €1,048,572 | €1,035,457 | -€13,115 | -1.3% |
| Plant, machinery and equipment | 23 | €3,657 | €1,560 | -€2,097 | -57.3% |
| Furniture and vehicles | 24 | €24,564 | €22,600 | -€1,964 | -8.0% |
| Current assets | 29/58 | €52,073 | €65,837 | +€13,764 | +26.4% |
| Amounts receivable within one year | 40/41 | €1,896 | €0 | -€1,896 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,896 | €0 | -€1,896 | -100.0% |
| Current investments | 50/53 | €6,000 | €23,999 | +€17,999 | +300.0% |
| Cash at bank and in hand | 54/58 | €40,934 | €41,309 | +€375 | +0.9% |
| Deferred charges and accrued income | 490/1 | €3,243 | €529 | -€2,714 | -83.7% |
| Total equity and liabilities | 10/49 | €1,128,867 | €1,125,455 | -€3,412 | -0.3% |
| Equity | 10/15 | €839,655 | €884,897 | +€45,242 | +5.4% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €715,708 | €760,951 | +€45,242 | +6.3% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,601 | €63,497 | -€4,105 | -6.1% |
| Distributable reserves | 133 | €635,712 | €685,059 | +€49,347 | +7.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €22,162 | €20,794 | -€1,368 | -6.2% |
| Deferred taxes | 168 | €22,162 | €20,794 | -€1,368 | -6.2% |
| Amounts payable | 17/49 | €267,050 | €219,764 | -€47,286 | -17.7% |
| Amounts payable after more than one year | 17 | €186,674 | €145,170 | -€41,504 | -22.2% |
| Financial debts | 170/4 | €186,674 | €145,170 | -€41,504 | -22.2% |
| Amounts payable within one year | 42/48 | €68,223 | €62,080 | -€6,144 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €35,004 | €35,004 | = | 0.0% |
| Trade debts | 44 | €4,730 | €1,245 | -€3,485 | -73.7% |
| Suppliers | 440/4 | €4,730 | €1,245 | -€3,485 | -73.7% |
| Taxes, remuneration and social security | 45 | €1,393 | €5,324 | +€3,931 | +282.1% |
| Taxes | 450/3 | €1,366 | €5,324 | +€3,958 | +289.7% |
| Remuneration and social security | 454/9 | €27 | €0 | -€27 | -100.0% |
| Other amounts payable | 47/48 | €27,096 | €20,507 | -€6,589 | -24.3% |
| Accrued charges and deferred income | 492/3 | €12,152 | €12,514 | +€362 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,219 | €45,684 | -€7,535 | -14.2% |
| Other operating charges | 640/8 | €17,532 | €18,140 | +€608 | +3.5% |
| Gross operating margin | 9900 | €147,323 | €157,251 | +€9,928 | +6.7% |
| Operating profit (loss) | 9901 | €76,572 | €93,426 | +€16,855 | +22.0% |
| Financial income | 75/76B | €3,502 | €597 | -€2,905 | -82.9% |
| Recurring financial income | 75 | €3,502 | €597 | -€2,905 | -82.9% |
| Financial charges | 65/66B | €15,256 | €13,036 | -€2,220 | -14.6% |
| Recurring financial charges | 65 | €15,256 | €13,036 | -€2,220 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €64,817 | €80,987 | +€16,170 | +24.9% |
| Transfer from deferred taxes | 780 | €1,368 | €1,368 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €19,943 | €25,113 | +€5,170 | +25.9% |
| Profit (loss) for the period | 9904 | €46,242 | €57,242 | +€11,000 | +23.8% |
| Transfer from tax-exempt reserves | 789 | €4,105 | €4,105 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €50,347 | €61,347 | +€11,000 | +21.8% |
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 7 October 2026 via checked.be.