Primitive Studio: what changed
Primitive Studio
Largest movements
- Receivables within one year +€40,341
up €40,341 (+243%), from €16,610 to €56,951
of which Other amounts receivable: +€37,678
- Cash -€20,628
down €20,628 (-7.6%), from €273,030 to €252,401
mainly Accrued charges and deferred income (-€47,434) and Receivables within one year (-€40,341)
- Tangible fixed assets -€12,155
down €12,155 (-27.0%), from €45,045 to €32,890
of which Furniture and vehicles: -€10,173
- Stocks and contracts +€11,390
new in 2025: €11,390
- Deferred charges and accrued income -€3,974
down €3,974 (-69.8%), from €5,696 to €1,722
- Profit (loss) carried forward +€49,589
up €49,589 (+35.0%), from €141,623 to €191,212
- Accrued charges and deferred income -€47,434
down €47,434 (-49.5%), from €95,899 to €48,465
- Tax, wage and social debts -€18,050
no longer reported in 2025 (was €18,050)
- Debts after one year +€16,032
new in 2025: €16,032
- Trade debts +€13,365
up €13,365 (+41.2%), from €32,421 to €45,786
- Taxes -€19,259
no longer reported in 2025 (was €19,259)
- Depreciation +€6,662
up €6,662 (+121%), from €5,493 to €12,155
- Other operating charges -€5,674
down €5,674 (-74.2%), from €7,649 to €1,975
- Gross operating margin -€4,922
down €4,922 (-5.7%), from €85,876 to €80,954
- Financial income +€2,244
up €2,244 (+11,329%), from €20 to €2,264
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,381 | €355,354 | +€14,973 | +4.4% |
| Fixed assets | 21/28 | €45,045 | €32,890 | -€12,155 | -27.0% |
| Tangible fixed assets | 22/27 | €45,045 | €32,890 | -€12,155 | -27.0% |
| Furniture and vehicles | 24 | €42,873 | €32,699 | -€10,173 | -23.7% |
| Other tangible fixed assets | 26 | €2,173 | €191 | -€1,982 | -91.2% |
| Current assets | 29/58 | €295,335 | €322,463 | +€27,128 | +9.2% |
| Stocks and contracts in progress | 3 | - | €11,390 | +€11,390 | |
| Stocks | 30/36 | - | €11,390 | +€11,390 | |
| Amounts receivable within one year | 40/41 | €16,610 | €56,951 | +€40,341 | +243% |
| Trade receivables | 40 | €15,108 | €17,771 | +€2,663 | +17.6% |
| Other amounts receivable | 41 | €1,502 | €39,180 | +€37,678 | +2,508% |
| Cash at bank and in hand | 54/58 | €273,030 | €252,401 | -€20,628 | -7.6% |
| Deferred charges and accrued income | 490/1 | €5,696 | €1,722 | -€3,974 | -69.8% |
| Total equity and liabilities | 10/49 | €340,381 | €355,354 | +€14,973 | +4.4% |
| Equity | 10/15 | €162,083 | €211,672 | +€49,589 | +30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,623 | €191,212 | +€49,589 | +35.0% |
| Amounts payable | 17/49 | €178,297 | €143,682 | -€34,616 | -19.4% |
| Amounts payable after more than one year | 17 | - | €16,032 | +€16,032 | |
| Financial debts | 170/4 | - | €16,032 | +€16,032 | |
| Amounts payable within one year | 42/48 | €82,398 | €79,185 | -€3,214 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €13,300 | €19,705 | +€6,405 | +48.2% |
| Trade debts | 44 | €32,421 | €45,786 | +€13,365 | +41.2% |
| Suppliers | 440/4 | €32,421 | €45,786 | +€13,365 | +41.2% |
| Advances received on contracts in progress | 46 | €13,693 | €13,693 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,050 | - | -€18,050 | |
| Taxes | 450/3 | €18,050 | - | -€18,050 | |
| Other amounts payable | 47/48 | €4,933 | - | -€4,933 | |
| Accrued charges and deferred income | 492/3 | €95,899 | €48,465 | -€47,434 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,493 | €12,155 | +€6,662 | +121% |
| Other operating charges | 640/8 | €7,649 | €1,975 | -€5,674 | -74.2% |
| Gross operating margin | 9900 | €85,876 | €80,954 | -€4,922 | -5.7% |
| Operating profit (loss) | 9901 | €72,733 | €66,824 | -€5,909 | -8.1% |
| Financial income | 75/76B | €20 | €2,264 | +€2,244 | +11,329% |
| Recurring financial income | 75 | €20 | €2,264 | +€2,244 | +11,329% |
| Financial charges | 65/66B | €3,407 | €4,499 | +€1,091 | +32.0% |
| Recurring financial charges | 65 | €3,407 | €4,499 | +€1,091 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €69,345 | €64,589 | -€4,757 | -6.9% |
| Income taxes | 67/77 | €19,259 | - | -€19,259 | |
| Profit (loss) for the period | 9904 | €50,086 | €64,589 | +€14,503 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,086 | €64,589 | +€14,503 | +29.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.