PRIMAVERA: what changed
What changed
PRIMAVERA
NACE 01.430, Raising of horses and other equines
filed annual accounts (NBB)
Net result for the year
-€16,284
2025 · -€51,984+€35,700
Equity
-€92,766
2025 · -€76,482-€16,284
Cash
€655
2025 · €531+€124
Balance sheet total
€329,816
2025 · €361,817-€32,000
Largest movements
Assets
- Tangible fixed assets -€23,938
down €23,938 (-7.4%), from €321,600 to €297,662
of which Land and buildings: -€19,440
- Receivables within one year -€9,368
down €9,368 (-67.6%), from €13,861 to €4,493
of which Trade receivables: -€9,599
Equity and liabilities
- Other debts +€33,172
up €33,172 (+29.7%), from €111,557 to €144,729
- Debts after one year -€32,643
down €32,643 (-14.9%), from €219,802 to €187,159
- Profit (loss) carried forward -€16,284
down €16,284 (-12.0%), from -€136,181 to -€152,465
- Trade debts -€8,114
down €8,114 (-24.1%), from €33,680 to €25,565
- Tax, wage and social debts -€7,187
down €7,187 (-63.6%), from €11,301 to €4,114
of which Remuneration and social security: -€7,450
Income statement
- Staff costs -€18,648
down €18,648 (-51.7%), from €36,071 to €17,423
- Gross operating margin +€16,370
up €16,370 (+76.7%), from €21,341 to €37,711
- Depreciation -€1,067
down €1,067 (-3.9%), from €27,655 to €26,588
- Financial charges +€881
up €881 (+12.3%), from €7,174 to €8,055
- Other operating charges -€450
down €450 (-18.3%), from €2,460 to €2,010
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€51,984
Gross operating margin
+€16,370
Staff costs
+€18,648
Depreciation
+€1,067
Other operating charges
+€450
Financial income
+€45
Financial charges
-€881
Result 2026
-€16,284
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€36,253
Investment
-€2,650
Financing
-€33,479
Cash 2025
€531
From operations (derived)
+€36,253
Net result for the year
-€16,284
Depreciation
+€26,588
Stocks and contracts
-€3,000
Receivables within one year
+€9,368
Deferred charges and accrued income
+€1,818
Trade debts
-€8,114
Tax, wage and social debts
-€7,187
Other debts
+€33,172
Accrued charges and deferred income
-€108
Investment (derived)
-€2,650
Investment in fixed assets (net)
-€2,650
Financing
-€33,479
Debts after one year
-€32,643
Current portion of long-term debt
+€158
Short-term financial debts
-€995
Cash 2026
€655
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €361,817 | €329,816 | -€32,000 | -8.8% |
| Fixed assets | 21/28 | €321,755 | €297,817 | -€23,938 | -7.4% |
| Tangible fixed assets | 22/27 | €321,600 | €297,662 | -€23,938 | -7.4% |
| Land and buildings | 22 | €311,278 | €291,838 | -€19,440 | -6.2% |
| Plant, machinery and equipment | 23 | €10,322 | €5,824 | -€4,498 | -43.6% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €40,062 | €31,999 | -€8,062 | -20.1% |
| Stocks and contracts in progress | 3 | €22,500 | €25,500 | +€3,000 | +13.3% |
| Stocks | 30/36 | €22,500 | €25,500 | +€3,000 | +13.3% |
| Amounts receivable within one year | 40/41 | €13,861 | €4,493 | -€9,368 | -67.6% |
| Trade receivables | 40 | €9,902 | €303 | -€9,599 | -96.9% |
| Other amounts receivable | 41 | €3,959 | €4,190 | +€230 | +5.8% |
| Cash at bank and in hand | 54/58 | €531 | €655 | +€124 | +23.3% |
| Deferred charges and accrued income | 490/1 | €3,169 | €1,351 | -€1,818 | -57.4% |
| Total equity and liabilities | 10/49 | €361,817 | €329,816 | -€32,000 | -8.8% |
| Equity | 10/15 | -€76,482 | -€92,766 | -€16,284 | -21.3% |
| Contributions | 10/11 | €53,797 | €53,797 | = | 0.0% |
| Reserves | 13 | €5,901 | €5,901 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,809 | €2,809 | = | 0.0% |
| Distributable reserves | 133 | €1,233 | €1,233 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,181 | -€152,465 | -€16,284 | -12.0% |
| Amounts payable | 17/49 | €438,299 | €422,582 | -€15,717 | -3.6% |
| Amounts payable after more than one year | 17 | €219,802 | €187,159 | -€32,643 | -14.9% |
| Financial debts | 170/4 | €219,802 | €187,159 | -€32,643 | -14.9% |
| Amounts payable within one year | 42/48 | €218,388 | €235,423 | +€17,034 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €32,484 | €32,643 | +€158 | +0.5% |
| Financial debts | 43 | €29,366 | €28,371 | -€995 | -3.4% |
| Credit institutions | 430/8 | €29,366 | €28,371 | -€995 | -3.4% |
| Trade debts | 44 | €33,680 | €25,565 | -€8,114 | -24.1% |
| Suppliers | 440/4 | €33,680 | €25,565 | -€8,114 | -24.1% |
| Taxes, remuneration and social security | 45 | €11,301 | €4,114 | -€7,187 | -63.6% |
| Taxes | 450/3 | €3,220 | €3,484 | +€263 | +8.2% |
| Remuneration and social security | 454/9 | €8,081 | €630 | -€7,450 | -92.2% |
| Other amounts payable | 47/48 | €111,557 | €144,729 | +€33,172 | +29.7% |
| Accrued charges and deferred income | 492/3 | €108 | €0 | -€108 | -100% |
| Non-recurring operating income | 76A | €0 | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €36,071 | €17,423 | -€18,648 | -51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,655 | €26,588 | -€1,067 | -3.9% |
| Other operating charges | 640/8 | €2,460 | €2,010 | -€450 | -18.3% |
| Gross operating margin | 9900 | €21,341 | €37,711 | +€16,370 | +76.7% |
| Operating profit (loss) | 9901 | -€44,846 | -€8,309 | +€36,536 | +81.5% |
| Financial income | 75/76B | €35 | €80 | +€45 | +128% |
| Recurring financial income | 75 | €35 | €80 | +€45 | +128% |
| Financial charges | 65/66B | €7,174 | €8,055 | +€881 | +12.3% |
| Recurring financial charges | 65 | €7,174 | €8,055 | +€881 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | -€51,984 | -€16,284 | +€35,700 | +68.7% |
| Profit (loss) for the period | 9904 | -€51,984 | -€16,284 | +€35,700 | +68.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,984 | -€16,284 | +€35,700 | +68.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.