PRIMOPIANO: 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.
PRIMOPIANO
Largest movements
- Current investments -€125,000
down €125,000 (-13.4%), from €930,000 to €805,000
- Cash +€95,333
up €95,333 (+581%), from €16,421 to €111,753
mainly Current investments (+€125,000) and Depreciation (+€61,512)
- Tangible fixed assets -€61,512
down €61,512 (-3.2%), from €1.9m to €1.9m
of which Land and buildings: -€59,854
- Other debts -€65,225
down €65,225 (-3.5%), from €1.9m to €1.8m
- Financial charges -€11,732
down €11,732 (-11.7%), from €100,260 to €88,528
- Gross operating margin +€8,824
up €8,824 (+6.7%), from €131,764 to €140,588
- Financial income -€3,907
down €3,907 (-100.0%), from €3,907 to €0
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 | €2,900,431 | €2,813,740 | -€86,691 | -3.0% |
| Fixed assets | 21/28 | €1,946,702 | €1,885,190 | -€61,512 | -3.2% |
| Tangible fixed assets | 22/27 | €1,946,702 | €1,885,190 | -€61,512 | -3.2% |
| Land and buildings | 22 | €1,941,226 | €1,881,372 | -€59,854 | -3.1% |
| Plant, machinery and equipment | 23 | €5,476 | €3,819 | -€1,658 | -30.3% |
| Current assets | 29/58 | €953,729 | €928,550 | -€25,179 | -2.6% |
| Amounts receivable within one year | 40/41 | €4,058 | €11,797 | +€7,738 | +191% |
| Trade receivables | 40 | €2,000 | €8,897 | +€6,897 | +345% |
| Other amounts receivable | 41 | €2,058 | €2,899 | +€841 | +40.9% |
| Current investments | 50/53 | €930,000 | €805,000 | -€125,000 | -13.4% |
| Cash at bank and in hand | 54/58 | €16,421 | €111,753 | +€95,333 | +581% |
| Deferred charges and accrued income | 490/1 | €3,251 | €0 | -€3,251 | -100% |
| Total equity and liabilities | 10/49 | €2,900,431 | €2,813,740 | -€86,691 | -3.0% |
| Equity | 10/15 | €1,001,958 | €984,099 | -€17,859 | -1.8% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€248,042 | -€265,901 | -€17,859 | -7.2% |
| Amounts payable | 17/49 | €1,898,473 | €1,829,641 | -€68,832 | -3.6% |
| Amounts payable within one year | 42/48 | €1,898,473 | €1,829,641 | -€68,832 | -3.6% |
| Trade debts | 44 | €1,108 | €1,026 | -€82 | -7.4% |
| Suppliers | 440/4 | €1,108 | €1,026 | -€82 | -7.4% |
| Taxes, remuneration and social security | 45 | €30,075 | €26,550 | -€3,525 | -11.7% |
| Taxes | 450/3 | €30,075 | €26,550 | -€3,525 | -11.7% |
| Other amounts payable | 47/48 | €1,867,290 | €1,802,065 | -€65,225 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,512 | €61,512 | = | 0.0% |
| Other operating charges | 640/8 | €8,153 | €8,408 | +€255 | +3.1% |
| Gross operating margin | 9900 | €131,764 | €140,588 | +€8,824 | +6.7% |
| Operating profit (loss) | 9901 | €62,100 | €70,669 | +€8,569 | +13.8% |
| Financial income | 75/76B | €3,907 | €0 | -€3,907 | -100.0% |
| Recurring financial income | 75 | €3,907 | €0 | -€3,907 | -100.0% |
| Financial charges | 65/66B | €100,260 | €88,528 | -€11,732 | -11.7% |
| Recurring financial charges | 65 | €100,260 | €88,528 | -€11,732 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€34,254 | -€17,859 | +€16,394 | +47.9% |
| Profit (loss) for the period | 9904 | -€34,254 | -€17,859 | +€16,394 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,254 | -€17,859 | +€16,394 | +47.9% |
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 22 October 2026 via checked.be.