ACTIVE

Primitive Studio

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Financial year 2025 · closed on 30/09/2025
Net result
64,6 k €
+29.0% YoY
Gross margin
81 k €
-5.7% YoY
Equity
211,7 k €
+30.6% YoY

What does Primitive Studio do?

Primitive Studio is a Private company with limited liability incorporated in 2018. Its main activity is: Retail sale of second-hand goods in stores. Its registered office is in Bruxelles.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0712.791.731
Incorporation
02/11/2018
Legal form
Private company with limited liability
Registered office
Rue Sainte-Anne 30
1000 Bruxelles · BruxellesSee on map
Contributed capital
18 600,00 €
Latest accounts
30/09/2025
Activities (NACE)
47791Retail sale of second-hand goods in stores· main47791Retail sale of second-hand goods in stores
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 6 financial years

202520242023202220212020
Income statement
Gross margin81 k €85,9 k €41,9 k €73,4 k €110,3 k €30,3 k €
EBITDA79 k €78,2 k €39 k €71,3 k €102 k €8,4 k €
Operating result66,8 k €72,7 k €33,6 k €68,4 k €101,2 k €8,1 k €
Net result64,6 k €50,1 k €25,4 k €50,1 k €77,2 k €8,7 k €
Balance sheet
Equity211,7 k €162,1 k €130 k €119,6 k €84,5 k €27,3 k €
Total assets355,4 k €340,4 k €254,3 k €235,7 k €229,7 k €66,6 k €
Cash252,4 k €273 k €233,3 k €216,7 k €217,9 k €66,1 k €
Debts95,2 k €82,4 k €98,3 k €90,1 k €120,4 k €39,2 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€
See the valuation
Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 3 ended

Active mandates

KAMIL NAOUM

Gérant · since 02 novembre 2018

Active

Ended mandates

Frédéric Jadoulle

Director

Ended
Kamil Naoum

Director

Ended
Michel Thomaes

Director

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/10/202401/10/202301/10/202201/10/202101/10/202002/11/2018
Closing of the financial year30/09/202530/09/202430/09/202330/09/202230/09/202130/09/2020
Length of the financial year12 months12 months12 months12 months12 months23 months
Filing date26/04/202628/04/202523/04/202424/05/202305/01/202314/06/2021
General meeting21/04/202622/04/202529/03/202431/03/202325/03/202226/03/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

6 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model30/09/202521/04/202626/04/2026FrenchPDF
Micro model30/09/202422/04/202528/04/2025FrenchPDF
Micro model30/09/202329/03/202423/04/2024FrenchPDF
Micro model30/09/202231/03/202324/05/2023FrenchPDF
Micro model30/09/202125/03/202205/01/2023FrenchPDF
Micro model30/09/202026/03/202114/06/2021FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 3 ended

Active mandates

KAMIL NAOUM

Gérant · since 02 novembre 2018

Active

Ended mandates

Frédéric Jadoulle

Director

Ended
Kamil Naoum

Director

Ended
Michel Thomaes

Director

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates12/11/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates01/03/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates31/12/2020
    DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
    PDF
  • Mandates23/07/2019
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/12/2018
    DEMISSIONS, NOMINATIONS
    PDF
  • Other06/11/2018
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202564,6 k €↑
  2. 2024
    Annual accounts 202450,1 k €↑
  3. 2023
    Annual accounts 202325,4 k €↓
  4. 2022
    Annual accounts 202250,1 k €↓
  5. 2021
    Annual accounts 202177,2 k €↑
  6. 2020
    Annual accounts 20208,7 k €
  7. 02/11/2018
    IncorporationPrivate company with limited liability