LOS PRIMOS: 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.
LOS PRIMOS
Largest movements
- Tangible fixed assets -€30,952
down €30,952 (-10.8%), from €285,883 to €254,931
of which Other tangible fixed assets: -€19,133
- Stocks and contracts +€7,695
up €7,695 (+203.6%), from €3,779 to €11,474
- Cash +€7,586
up €7,586 (+59.2%), from €12,816 to €20,402
mainly Depreciation (+€32,647) and Trade debts (+€8,337)
- Receivables within one year -€4,245
down €4,245 (-25.8%), from €16,455 to €12,210
of which Other amounts receivable: -€12,558
- Debts after one year -€28,800
down €28,800 (-13.6%), from €211,547 to €182,747
of which Financial debts: -€23,196
- Trade debts +€8,337
up €8,337 (+33.9%), from €24,621 to €32,958
- Profit (loss) carried forward +€4,312
up €4,312 (+12.5%), from €34,537 to €38,849
- Tax, wage and social debts -€3,843
down €3,843 (-16.9%), from €22,756 to €18,913
of which Remuneration and social security: -€2,609
- Gross operating margin -€28,473
down €28,473 (-15.0%), from €189,327 to €160,854
- Staff costs +€16,155
up €16,155 (+17.3%), from €93,458 to €109,613
- Depreciation -€10,371
down €10,371 (-24.1%), from €43,018 to €32,647
- Financial charges -€4,914
down €4,914 (-27.6%), from €17,774 to €12,860
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €321,141 | €301,663 | -€19,478 | -6.1% |
| Formation expenses | 20 | €1,856 | €1,424 | -€432 | -23.3% |
| Fixed assets | 21/28 | €286,173 | €255,221 | -€30,952 | -10.8% |
| Tangible fixed assets | 22/27 | €285,883 | €254,931 | -€30,952 | -10.8% |
| Plant, machinery and equipment | 23 | €63,772 | €53,211 | -€10,561 | -16.6% |
| Furniture and vehicles | 24 | €12,655 | €11,397 | -€1,258 | -9.9% |
| Other tangible fixed assets | 26 | €209,456 | €190,323 | -€19,133 | -9.1% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €33,112 | €45,018 | +€11,906 | +36.0% |
| Stocks and contracts in progress | 3 | €3,779 | €11,474 | +€7,695 | +203.6% |
| Stocks | 30/36 | €3,779 | €11,474 | +€7,695 | +203.6% |
| Amounts receivable within one year | 40/41 | €16,455 | €12,210 | -€4,245 | -25.8% |
| Trade receivables | 40 | €492 | €8,805 | +€8,313 | +1689.6% |
| Other amounts receivable | 41 | €15,963 | €3,405 | -€12,558 | -78.7% |
| Cash at bank and in hand | 54/58 | €12,816 | €20,402 | +€7,586 | +59.2% |
| Deferred charges and accrued income | 490/1 | €62 | €932 | +€870 | +1403.2% |
| Total equity and liabilities | 10/49 | €321,141 | €301,663 | -€19,478 | -6.1% |
| Equity | 10/15 | €39,537 | €43,849 | +€4,312 | +10.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,537 | €38,849 | +€4,312 | +12.5% |
| Amounts payable | 17/49 | €281,604 | €257,814 | -€23,790 | -8.4% |
| Amounts payable after more than one year | 17 | €211,547 | €182,747 | -€28,800 | -13.6% |
| Financial debts | 170/4 | €130,464 | €107,268 | -€23,196 | -17.8% |
| Other amounts payable | 178/9 | €81,083 | €75,479 | -€5,604 | -6.9% |
| Amounts payable within one year | 42/48 | €70,057 | €75,067 | +€5,010 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €22,680 | €23,196 | +€516 | +2.3% |
| Trade debts | 44 | €24,621 | €32,958 | +€8,337 | +33.9% |
| Suppliers | 440/4 | €24,621 | €32,958 | +€8,337 | +33.9% |
| Taxes, remuneration and social security | 45 | €22,756 | €18,913 | -€3,843 | -16.9% |
| Taxes | 450/3 | €8,149 | €6,915 | -€1,234 | -15.1% |
| Remuneration and social security | 454/9 | €14,607 | €11,998 | -€2,609 | -17.9% |
| Remuneration, social security and pensions | 62 | €93,458 | €109,613 | +€16,155 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,018 | €32,647 | -€10,371 | -24.1% |
| Other operating charges | 640/8 | €387 | €440 | +€53 | +13.7% |
| Gross operating margin | 9900 | €189,327 | €160,854 | -€28,473 | -15.0% |
| Operating profit (loss) | 9901 | €52,464 | €18,154 | -€34,310 | -65.4% |
| Financial income | 75/76B | €216 | €333 | +€117 | +54.2% |
| Recurring financial income | 75 | €122 | €160 | +€38 | +31.1% |
| Non-recurring financial income | 76B | €94 | €173 | +€79 | +84.0% |
| Financial charges | 65/66B | €17,774 | €12,860 | -€4,914 | -27.6% |
| Recurring financial charges | 65 | €17,774 | €12,860 | -€4,914 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €34,906 | €5,627 | -€29,279 | -83.9% |
| Income taxes | 67/77 | €2,377 | €1,315 | -€1,062 | -44.7% |
| Profit (loss) for the period | 9904 | €32,529 | €4,312 | -€28,217 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,529 | €4,312 | -€28,217 | -86.7% |
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 3 October 2026 via checked.be.