PRIMAL: 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.
PRIMAL
Largest movements
- Tangible fixed assets -€42,551
down €42,551 (-10.6%), from €402,229 to €359,679
of which Land and buildings: -€37,831
- Receivables within one year -€35,062
down €35,062 (-44.5%), from €78,828 to €43,766
of which Other amounts receivable: -€26,844
- Cash -€24,002
down €24,002 (-53.4%), from €44,922 to €20,919
mainly Contributions, distributions and other (-€143,700) and Net result for the year (-€91,823)
- Reserves -€143,700
down €143,700 (-49.0%), from €293,535 to €149,835
of which Non-distributable reserves: -€143,700
- Other debts +€129,504
up €129,504 (+141.5%), from €91,493 to €220,997
- Profit (loss) carried forward -€91,823
down €91,823 (-168.6%), from -€54,448 to -€146,271
- Debts after one year -€32,807
down €32,807 (-27.1%), from €120,948 to €88,141
- Trade debts +€27,782
up €27,782 (+144.9%), from €19,180 to €46,962
- Gross operating margin +€68,794
up €68,794, from -€19,937 to €48,858
- Staff costs +€15,920
up €15,920 (+23.2%), from €68,617 to €84,537
- Financial income -€13,012
down €13,012 (-98.6%), from €13,195 to €183
of which Non-recurring financial income: -€12,000
- Taxes +€2,059
up €2,059, from -€100 to €1,959
- Depreciation +€969
up €969 (+2.3%), from €41,582 to €42,551
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 | €529,467 | €427,423 | -€102,044 | -19.3% |
| Fixed assets | 21/28 | €402,343 | €359,792 | -€42,551 | -10.6% |
| Tangible fixed assets | 22/27 | €402,229 | €359,679 | -€42,551 | -10.6% |
| Land and buildings | 22 | €393,560 | €355,728 | -€37,831 | -9.6% |
| Furniture and vehicles | 24 | €4,611 | €3,191 | -€1,420 | -30.8% |
| Other tangible fixed assets | 26 | €4,059 | €759 | -€3,300 | -81.3% |
| Financial fixed assets | 28 | €114 | €114 | = | 0.0% |
| Current assets | 29/58 | €127,124 | €67,630 | -€59,494 | -46.8% |
| Amounts receivable within one year | 40/41 | €78,828 | €43,766 | -€35,062 | -44.5% |
| Trade receivables | 40 | €40,616 | €32,397 | -€8,218 | -20.2% |
| Other amounts receivable | 41 | €38,212 | €11,368 | -€26,844 | -70.2% |
| Current investments | 50/53 | €21 | €21 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,922 | €20,919 | -€24,002 | -53.4% |
| Deferred charges and accrued income | 490/1 | €3,353 | €2,924 | -€429 | -12.8% |
| Total equity and liabilities | 10/49 | €529,467 | €427,423 | -€102,044 | -19.3% |
| Equity | 10/15 | €245,284 | €9,761 | -€235,523 | -96.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | - | -€6,197 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Uncalled capital | 101 | €12,395 | - | -€12,395 | |
| Reserves | 13 | €293,535 | €149,835 | -€143,700 | -49.0% |
| Non-distributable reserves | 130/1 | €284,759 | €141,059 | -€143,700 | -50.5% |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €282,900 | €141,059 | -€141,841 | -50.1% |
| Tax-exempt reserves | 132 | €8,775 | €8,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,448 | -€146,271 | -€91,823 | -168.6% |
| Amounts payable | 17/49 | €284,183 | €417,662 | +€133,479 | +47.0% |
| Amounts payable after more than one year | 17 | €120,948 | €88,141 | -€32,807 | -27.1% |
| Financial debts | 170/4 | €120,948 | €88,141 | -€32,807 | -27.1% |
| Amounts payable within one year | 42/48 | €163,235 | €329,521 | +€166,286 | +101.9% |
| Current portion of amounts payable after more than one year | 42 | €31,969 | €33,045 | +€1,076 | +3.4% |
| Financial debts | 43 | €4,236 | - | -€4,236 | |
| Credit institutions | 430/8 | €4,236 | - | -€4,236 | |
| Trade debts | 44 | €19,180 | €46,962 | +€27,782 | +144.9% |
| Suppliers | 440/4 | €19,180 | €46,962 | +€27,782 | +144.9% |
| Taxes, remuneration and social security | 45 | €16,358 | €28,518 | +€12,160 | +74.3% |
| Taxes | 450/3 | €3,447 | €5,465 | +€2,018 | +58.5% |
| Remuneration and social security | 454/9 | €12,911 | €23,052 | +€10,142 | +78.6% |
| Other amounts payable | 47/48 | €91,493 | €220,997 | +€129,504 | +141.5% |
| Remuneration, social security and pensions | 62 | €68,617 | €84,537 | +€15,920 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,582 | €42,551 | +€969 | +2.3% |
| Other operating charges | 640/8 | €5,784 | €5,870 | +€86 | +1.5% |
| Gross operating margin | 9900 | -€19,937 | €48,858 | +€68,794 | |
| Operating profit (loss) | 9901 | -€135,919 | -€84,100 | +€51,819 | +38.1% |
| Financial income | 75/76B | €13,195 | €183 | -€13,012 | -98.6% |
| Recurring financial income | 75 | €1,195 | €183 | -€1,012 | -84.7% |
| Non-recurring financial income | 76B | €12,000 | - | -€12,000 | |
| Financial charges | 65/66B | €6,493 | €5,948 | -€545 | -8.4% |
| Recurring financial charges | 65 | €6,485 | €5,948 | -€537 | -8.3% |
| Non-recurring financial charges | 66B | €8 | - | -€8 | |
| Profit (loss) for the period before taxes | 9903 | -€129,217 | -€89,864 | +€39,352 | +30.5% |
| Income taxes | 67/77 | -€100 | €1,959 | +€2,059 | |
| Profit (loss) for the period | 9904 | -€129,117 | -€91,823 | +€37,294 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€129,117 | -€91,823 | +€37,294 | +28.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.