V - PRIM: 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.
V - PRIM
Largest movements
- Cash -€25,737
down €25,737 (-18.2%), from €141,645 to €115,907
mainly Net result for the year (-€42,321) and Tax, wage and social debts (-€16,355)
- Tangible fixed assets -€16,106
down €16,106 (-12.0%), from €134,502 to €118,396
of which Leasing and similar rights: -€11,546
- Receivables within one year +€7,946
up €7,946 (+5.4%), from €146,919 to €154,866
of which Trade receivables: +€5,011
- Profit (loss) carried forward -€42,321
down €42,321 (-18.1%), from -€233,916 to -€276,237
- Trade debts +€23,055
up €23,055 (+68.5%), from €33,676 to €56,731
- Tax, wage and social debts -€16,355
down €16,355 (-47.6%), from €34,390 to €18,035
of which Taxes: -€9,144
- Gross operating margin -€174,023
down €174,023 (-62.8%), from €277,235 to €103,213
- Staff costs -€42,814
down €42,814 (-26.5%), from €161,383 to €118,568
- Taxes +€3,278
up €3,278 (+104.9%), from €3,126 to €6,403
- Depreciation -€2,801
down €2,801 (-24.6%), from €11,399 to €8,599
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
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 | €441,226 | €405,605 | -€35,621 | -8.1% |
| Fixed assets | 21/28 | €145,423 | €129,318 | -€16,106 | -11.1% |
| Tangible fixed assets | 22/27 | €134,502 | €118,396 | -€16,106 | -12.0% |
| Land and buildings | 22 | €120,760 | €118,036 | -€2,724 | -2.3% |
| Plant, machinery and equipment | 23 | €1,101 | - | -€1,101 | |
| Furniture and vehicles | 24 | €1,095 | €360 | -€735 | -67.1% |
| Leasing and similar rights | 25 | €11,546 | - | -€11,546 | |
| Financial fixed assets | 28 | €10,922 | €10,922 | = | 0.0% |
| Current assets | 29/58 | €295,803 | €276,288 | -€19,515 | -6.6% |
| Stocks and contracts in progress | 3 | €5,850 | €4,850 | -€1,000 | -17.1% |
| Stocks | 30/36 | €5,850 | €4,850 | -€1,000 | -17.1% |
| Amounts receivable within one year | 40/41 | €146,919 | €154,866 | +€7,946 | +5.4% |
| Trade receivables | 40 | €43,066 | €48,077 | +€5,011 | +11.6% |
| Other amounts receivable | 41 | €103,854 | €106,789 | +€2,936 | +2.8% |
| Cash at bank and in hand | 54/58 | €141,645 | €115,907 | -€25,737 | -18.2% |
| Deferred charges and accrued income | 490/1 | €1,389 | €664 | -€724 | -52.2% |
| Total equity and liabilities | 10/49 | €441,226 | €405,605 | -€35,621 | -8.1% |
| Equity | 10/15 | €373,160 | €330,839 | -€42,321 | -11.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €545,076 | €545,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €538,876 | €538,876 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€233,916 | -€276,237 | -€42,321 | -18.1% |
| Amounts payable | 17/49 | €68,067 | €74,766 | +€6,700 | +9.8% |
| Amounts payable within one year | 42/48 | €68,067 | €74,766 | +€6,700 | +9.8% |
| Trade debts | 44 | €33,676 | €56,731 | +€23,055 | +68.5% |
| Suppliers | 440/4 | €33,676 | €56,731 | +€23,055 | +68.5% |
| Taxes, remuneration and social security | 45 | €34,390 | €18,035 | -€16,355 | -47.6% |
| Taxes | 450/3 | €20,031 | €10,887 | -€9,144 | -45.6% |
| Remuneration and social security | 454/9 | €14,359 | €7,147 | -€7,212 | -50.2% |
| Non-recurring operating income | 76A | €14,956 | €3,951 | -€11,005 | -73.6% |
| Remuneration, social security and pensions | 62 | €161,383 | €118,568 | -€42,814 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,399 | €8,599 | -€2,801 | -24.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €749 | - | -€749 | |
| Other operating charges | 640/8 | €15,764 | €17,065 | +€1,301 | +8.3% |
| Non-recurring operating charges | 66A | €338 | €128 | -€210 | -62.0% |
| Gross operating margin | 9900 | €277,235 | €103,213 | -€174,023 | -62.8% |
| Operating profit (loss) | 9901 | €87,602 | -€41,148 | -€128,750 | |
| Financial income | 75/76B | €6,083 | €6,121 | +€38 | +0.6% |
| Recurring financial income | 75 | €6,083 | €4,058 | -€2,025 | -33.3% |
| Non-recurring financial income | 76B | - | €2,063 | +€2,063 | |
| Financial charges | 65/66B | €3,563 | €891 | -€2,673 | -75.0% |
| Recurring financial charges | 65 | €3,563 | €891 | -€2,673 | -75.0% |
| Profit (loss) for the period before taxes | 9903 | €90,122 | -€35,917 | -€126,040 | |
| Income taxes | 67/77 | €3,126 | €6,403 | +€3,278 | +104.9% |
| Profit (loss) for the period | 9904 | €86,997 | -€42,321 | -€129,317 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,997 | -€42,321 | -€129,317 |
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 10 October 2026 via checked.be.