PRIVATUM: 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.
PRIVATUM
Largest movements
- Receivables within one year -€113,163
down €113,163 (-14.3%), from €792,416 to €679,253
of which Trade receivables: -€540,475
- Deferred charges and accrued income +€14,528
up €14,528 (+575.2%), from €2,526 to €17,053
- Contributions +€775,000
up €775,000 (+775.0%), from €100,000 to €875,000
of which Contributions outside capital: +€765,000
- Profit (loss) carried forward -€372,748
down €372,748 (-96.8%), from -€384,966 to -€757,714
- Other debts -€363,847
no longer reported in 2025 (was €363,847)
- Tax, wage and social debts -€183,878
down €183,878 (-45.3%), from €405,641 to €221,764
of which Remuneration and social security: -€113,952
- Trade debts +€72,134
up €72,134 (+22.6%), from €318,479 to €390,613
- Staff costs +€214,514
up €214,514 (+12.8%), from €1.7m to €1.9m
- Gross operating margin -€117,548
down €117,548 (-7.0%), from €1.7m to €1.6m
- Taxes -€39,036
down €39,036, from €17,719 to -€21,317
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €838,746 | €734,983 | -€103,763 | -12.4% |
| Fixed assets | 21/28 | €43,803 | €38,677 | -€5,127 | -11.7% |
| Intangible fixed assets | 21 | €929 | - | -€929 | |
| Tangible fixed assets | 22/27 | €40,874 | €36,677 | -€4,197 | -10.3% |
| Plant, machinery and equipment | 23 | €21,423 | €19,854 | -€1,569 | -7.3% |
| Furniture and vehicles | 24 | €19,451 | €16,822 | -€2,628 | -13.5% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €794,942 | €696,306 | -€98,636 | -12.4% |
| Amounts receivable within one year | 40/41 | €792,416 | €679,253 | -€113,163 | -14.3% |
| Trade receivables | 40 | €792,416 | €251,941 | -€540,475 | -68.2% |
| Other amounts receivable | 41 | - | €427,312 | +€427,312 | |
| Deferred charges and accrued income | 490/1 | €2,526 | €17,053 | +€14,528 | +575.2% |
| Total equity and liabilities | 10/49 | €838,746 | €734,983 | -€103,763 | -12.4% |
| Equity | 10/15 | -€284,966 | €117,286 | +€402,252 | |
| Contributions | 10/11 | €100,000 | €875,000 | +€775,000 | +775.0% |
| Capital | 10 | €100,000 | €110,000 | +€10,000 | +10.0% |
| Issued capital | 100 | €100,000 | €110,000 | +€10,000 | +10.0% |
| Contributions outside capital | 11 | - | €765,000 | +€765,000 | |
| Share premium | 1100/10 | - | €765,000 | +€765,000 | |
| Profit (loss) carried forward | 14 | -€384,966 | -€757,714 | -€372,748 | -96.8% |
| Amounts payable | 17/49 | €1,123,711 | €617,697 | -€506,015 | -45.0% |
| Amounts payable within one year | 42/48 | €1,087,968 | €612,377 | -€475,591 | -43.7% |
| Trade debts | 44 | €318,479 | €390,613 | +€72,134 | +22.6% |
| Suppliers | 440/4 | €318,479 | €390,613 | +€72,134 | +22.6% |
| Taxes, remuneration and social security | 45 | €405,641 | €221,764 | -€183,878 | -45.3% |
| Taxes | 450/3 | €111,853 | €41,928 | -€69,925 | -62.5% |
| Remuneration and social security | 454/9 | €293,788 | €179,835 | -€113,952 | -38.8% |
| Other amounts payable | 47/48 | €363,847 | - | -€363,847 | |
| Accrued charges and deferred income | 492/3 | €35,744 | €5,320 | -€30,424 | -85.1% |
| Remuneration, social security and pensions | 62 | €1,678,170 | €1,892,684 | +€214,514 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,831 | €19,599 | +€1,769 | +9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,691 | +€10,691 | |
| Other operating charges | 640/8 | €563 | €3,734 | +€3,171 | +562.9% |
| Gross operating margin | 9900 | €1,683,765 | €1,566,216 | -€117,548 | -7.0% |
| Operating profit (loss) | 9901 | -€12,799 | -€360,492 | -€347,693 | -2716.6% |
| Financial income | 75/76B | €0 | €12,143 | +€12,143 | +40477500.0% |
| Recurring financial income | 75 | €0 | €12,143 | +€12,143 | +40477500.0% |
| Financial charges | 65/66B | €38,436 | €45,717 | +€7,281 | +18.9% |
| Recurring financial charges | 65 | €38,436 | €45,717 | +€7,281 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | -€51,235 | -€394,065 | -€342,831 | -669.1% |
| Income taxes | 67/77 | €17,719 | -€21,317 | -€39,036 | |
| Profit (loss) for the period | 9904 | -€68,954 | -€372,748 | -€303,794 | -440.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,954 | -€372,748 | -€303,794 | -440.6% |
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 9 October 2026 via checked.be.