PRIME FACTOR: 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.
PRIME FACTOR
Largest movements
- Receivables within one year -€40,740
down €40,740 (-19.4%), from €209,593 to €168,854
of which Trade receivables: -€45,791
- Stocks and contracts +€38,400
new in 2025: €38,400
- Cash -€36,690
down €36,690 (-87.2%), from €42,094 to €5,405
mainly Trade debts (-€72,611) and Stocks and contracts (-€38,400)
- Deferred charges and accrued income +€8,000
up €8,000, from €0 to €8,000
- Trade debts -€72,611
down €72,611 (-47.7%), from €152,335 to €79,724
- Accrued charges and deferred income +€33,204
up €33,204, from €0 to €33,204
- Tax, wage and social debts +€5,928
up €5,928 (+62.0%), from €9,568 to €15,496
- Gross operating margin -€16,641
down €16,641 (-79.4%), from €20,946 to €4,305
- Taxes -€3,772
down €3,772 (-76.3%), from €4,947 to €1,175
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 | €258,790 | €226,776 | -€32,014 | -12.4% |
| Fixed assets | 21/28 | €7,102 | €6,118 | -€985 | -13.9% |
| Tangible fixed assets | 22/27 | €7,102 | €6,118 | -€985 | -13.9% |
| Land and buildings | 22 | €7,102 | €6,118 | -€985 | -13.9% |
| Current assets | 29/58 | €251,688 | €220,658 | -€31,029 | -12.3% |
| Stocks and contracts in progress | 3 | - | €38,400 | +€38,400 | |
| Contracts in progress | 37 | - | €38,400 | +€38,400 | |
| Amounts receivable within one year | 40/41 | €209,593 | €168,854 | -€40,740 | -19.4% |
| Trade receivables | 40 | €207,448 | €161,657 | -€45,791 | -22.1% |
| Other amounts receivable | 41 | €2,145 | €7,197 | +€5,052 | +235% |
| Cash at bank and in hand | 54/58 | €42,094 | €5,405 | -€36,690 | -87.2% |
| Deferred charges and accrued income | 490/1 | €0 | €8,000 | +€8,000 | |
| Total equity and liabilities | 10/49 | €258,790 | €226,776 | -€32,014 | -12.4% |
| Equity | 10/15 | €96,782 | €98,229 | +€1,447 | +1.5% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €90,482 | €91,929 | +€1,447 | +1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €88,622 | €90,069 | +€1,447 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €162,009 | €128,547 | -€33,462 | -20.7% |
| Amounts payable within one year | 42/48 | €162,009 | €95,343 | -€66,665 | -41.1% |
| Trade debts | 44 | €152,335 | €79,724 | -€72,611 | -47.7% |
| Suppliers | 440/4 | €152,335 | €79,724 | -€72,611 | -47.7% |
| Taxes, remuneration and social security | 45 | €9,568 | €15,496 | +€5,928 | +62.0% |
| Taxes | 450/3 | €9,568 | €15,496 | +€5,928 | +62.0% |
| Other amounts payable | 47/48 | €106 | €124 | +€18 | +17.1% |
| Accrued charges and deferred income | 492/3 | €0 | €33,204 | +€33,204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €985 | €985 | = | 0.0% |
| Other operating charges | 640/8 | €451 | €469 | +€18 | +4.1% |
| Gross operating margin | 9900 | €20,946 | €4,305 | -€16,641 | -79.4% |
| Operating profit (loss) | 9901 | €19,509 | €2,850 | -€16,659 | -85.4% |
| Financial charges | 65/66B | €319 | €228 | -€91 | -28.5% |
| Recurring financial charges | 65 | €319 | €228 | -€91 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €19,190 | €2,622 | -€16,568 | -86.3% |
| Income taxes | 67/77 | €4,947 | €1,175 | -€3,772 | -76.3% |
| Profit (loss) for the period | 9904 | €14,243 | €1,447 | -€12,796 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,243 | €1,447 | -€12,796 | -89.8% |
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 30 October 2026 via checked.be.