Primitives: what changed
Primitives
Largest movements
- Receivables within one year +€219,114
up €219,114 (+37.4%), from €585,208 to €804,322
of which Trade receivables: +€219,074
- Cash -€160,228
down €160,228 (-17.5%), from €915,495 to €755,268
mainly Contributions, distributions and other (-€300,000) and Receivables within one year (-€219,114)
- Other debts +€300,000
up €300,000, from €0 to €300,000
- Profit (loss) carried forward -€170,451
down €170,451 (-90.9%), from €187,436 to €16,985
- Trade debts -€63,631
down €63,631 (-5.1%), from €1.2m to €1.2m
- Gross operating margin -€62,708
down €62,708 (-24.4%), from €257,322 to €194,615
- Taxes -€21,768
down €21,768 (-33.3%), from €65,395 to €43,627
- Write-downs +€14,558
new in 2025: €14,558
- Financial income -€6,627
down €6,627 (-96.6%), from €6,859 to €233
- Financial charges -€4,393
down €4,393 (-42.3%), from €10,382 to €5,990
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 | €1,519,207 | €1,573,277 | +€54,070 | +3.6% |
| Current assets | 29/58 | €1,519,207 | €1,573,277 | +€54,070 | +3.6% |
| Amounts receivable within one year | 40/41 | €585,208 | €804,322 | +€219,114 | +37.4% |
| Trade receivables | 40 | €562,156 | €781,230 | +€219,074 | +39.0% |
| Other amounts receivable | 41 | €23,051 | €23,092 | +€40 | +0.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €915,495 | €755,268 | -€160,228 | -17.5% |
| Deferred charges and accrued income | 490/1 | €18,504 | €13,688 | -€4,816 | -26.0% |
| Total equity and liabilities | 10/49 | €1,519,207 | €1,573,277 | +€54,070 | +3.6% |
| Equity | 10/15 | €269,936 | €99,485 | -€170,451 | -63.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,436 | €16,985 | -€170,451 | -90.9% |
| Amounts payable | 17/49 | €1,249,271 | €1,473,792 | +€224,521 | +18.0% |
| Amounts payable within one year | 42/48 | €1,244,782 | €1,473,792 | +€229,010 | +18.4% |
| Trade debts | 44 | €1,237,150 | €1,173,519 | -€63,631 | -5.1% |
| Suppliers | 440/4 | €1,237,150 | €1,173,519 | -€63,631 | -5.1% |
| Taxes, remuneration and social security | 45 | €7,632 | €273 | -€7,358 | -96.4% |
| Taxes | 450/3 | €7,632 | €273 | -€7,358 | -96.4% |
| Other amounts payable | 47/48 | €0 | €300,000 | +€300,000 | |
| Accrued charges and deferred income | 492/3 | €4,489 | €0 | -€4,489 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,558 | +€14,558 | |
| Other operating charges | 640/8 | €968 | €1,123 | +€156 | +16.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €257,322 | €194,615 | -€62,708 | -24.4% |
| Operating profit (loss) | 9901 | €256,355 | €178,933 | -€77,422 | -30.2% |
| Financial income | 75/76B | €6,859 | €233 | -€6,627 | -96.6% |
| Recurring financial income | 75 | €6,859 | €233 | -€6,627 | -96.6% |
| Financial charges | 65/66B | €10,382 | €5,990 | -€4,393 | -42.3% |
| Recurring financial charges | 65 | €10,382 | €5,990 | -€4,393 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €252,832 | €173,176 | -€79,655 | -31.5% |
| Income taxes | 67/77 | €65,395 | €43,627 | -€21,768 | -33.3% |
| Profit (loss) for the period | 9904 | €187,436 | €129,549 | -€57,887 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €187,436 | €129,549 | -€57,887 | -30.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.