De Picker: 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.
De Picker
Largest movements
- Cash +€425,118
up €425,118 (+31.6%), from €1.3m to €1.8m
mainly Net result for the year (+€755,582) and Depreciation (+€195,773)
- Tangible fixed assets +€287,023
up €287,023 (+23.2%), from €1.2m to €1.5m
of which Plant, machinery and equipment: +€239,167
- Receivables within one year -€191,411
down €191,411 (-28.6%), from €668,241 to €476,830
of which Trade receivables: -€154,613
- Current investments -€50,726
down €50,726 (-12.1%), from €420,632 to €369,906
- Reserves +€655,582
up €655,582 (+23.6%), from €2.8m to €3.4m
of which Distributable reserves: +€655,582
- Tax, wage and social debts -€99,961
down €99,961 (-47.3%), from €211,426 to €111,465
of which Taxes: -€98,467
- Debts after one year -€47,415
down €47,415 (-31.5%), from €150,627 to €103,212
- Gross operating margin -€81,882
down €81,882 (-4.6%), from €1.8m to €1.7m
- Depreciation +€52,791
up €52,791 (+36.9%), from €142,982 to €195,773
- Staff costs -€41,573
down €41,573 (-7.4%), from €558,100 to €516,527
- Taxes -€29,279
down €29,279 (-9.8%), from €297,481 to €268,202
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 | €3,745,133 | €4,228,528 | +€483,395 | +12.9% |
| Fixed assets | 21/28 | €1,237,715 | €1,524,737 | +€287,023 | +23.2% |
| Tangible fixed assets | 22/27 | €1,237,166 | €1,524,189 | +€287,023 | +23.2% |
| Land and buildings | 22 | €794,251 | €872,705 | +€78,454 | +9.9% |
| Plant, machinery and equipment | 23 | €290,903 | €530,070 | +€239,167 | +82.2% |
| Furniture and vehicles | 24 | €152,012 | €121,414 | -€30,598 | -20.1% |
| Financial fixed assets | 28 | €548 | €548 | = | 0.0% |
| Current assets | 29/58 | €2,507,418 | €2,703,791 | +€196,372 | +7.8% |
| Stocks and contracts in progress | 3 | €54,337 | €52,897 | -€1,440 | -2.7% |
| Stocks | 30/36 | €54,337 | €52,897 | -€1,440 | -2.7% |
| Amounts receivable within one year | 40/41 | €668,241 | €476,830 | -€191,411 | -28.6% |
| Trade receivables | 40 | €559,787 | €405,174 | -€154,613 | -27.6% |
| Other amounts receivable | 41 | €108,454 | €71,655 | -€36,799 | -33.9% |
| Current investments | 50/53 | €420,632 | €369,906 | -€50,726 | -12.1% |
| Cash at bank and in hand | 54/58 | €1,344,347 | €1,769,466 | +€425,118 | +31.6% |
| Deferred charges and accrued income | 490/1 | €19,861 | €34,693 | +€14,832 | +74.7% |
| Total equity and liabilities | 10/49 | €3,745,133 | €4,228,528 | +€483,395 | +12.9% |
| Equity | 10/15 | €2,851,942 | €3,507,524 | +€655,582 | +23.0% |
| Contributions | 10/11 | €73,000 | €73,000 | = | 0.0% |
| Reserves | 13 | €2,778,942 | €3,434,524 | +€655,582 | +23.6% |
| Non-distributable reserves | 130/1 | €12,436 | €12,436 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €12,436 | +€12,436 | |
| Other | 1319 | €12,436 | - | -€12,436 | |
| Tax-exempt reserves | 132 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €2,763,531 | €3,419,113 | +€655,582 | +23.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €61,903 | €61,903 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €61,903 | €61,903 | = | 0.0% |
| Major repairs and maintenance | 162 | - | €61,903 | +€61,903 | |
| Other liabilities and charges | 164/5 | €61,903 | - | -€61,903 | |
| Amounts payable | 17/49 | €831,288 | €659,101 | -€172,186 | -20.7% |
| Amounts payable after more than one year | 17 | €150,627 | €103,212 | -€47,415 | -31.5% |
| Financial debts | 170/4 | €150,627 | €103,212 | -€47,415 | -31.5% |
| Amounts payable within one year | 42/48 | €418,782 | €334,010 | -€84,771 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €45,839 | €47,103 | +€1,264 | +2.8% |
| Financial debts | 43 | €18,620 | €33,715 | +€15,095 | +81.1% |
| Credit institutions | 430/8 | €18,620 | €33,715 | +€15,095 | +81.1% |
| Trade debts | 44 | €105,027 | €141,728 | +€36,701 | +34.9% |
| Suppliers | 440/4 | €105,027 | €141,728 | +€36,701 | +34.9% |
| Taxes, remuneration and social security | 45 | €211,426 | €111,465 | -€99,961 | -47.3% |
| Taxes | 450/3 | €202,856 | €104,388 | -€98,467 | -48.5% |
| Remuneration and social security | 454/9 | €8,570 | €7,077 | -€1,494 | -17.4% |
| Other amounts payable | 47/48 | €37,870 | €0 | -€37,870 | -100% |
| Accrued charges and deferred income | 492/3 | €261,879 | €221,879 | -€40,000 | -15.3% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Remuneration, social security and pensions | 62 | €558,100 | €516,527 | -€41,573 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,982 | €195,773 | +€52,791 | +36.9% |
| Other operating charges | 640/8 | €25,545 | €20,006 | -€5,539 | -21.7% |
| Gross operating margin | 9900 | €1,789,612 | €1,707,731 | -€81,882 | -4.6% |
| Operating profit (loss) | 9901 | €1,062,986 | €975,425 | -€87,561 | -8.2% |
| Financial income | 75/76B | €63,568 | €63,441 | -€126 | -0.2% |
| Recurring financial income | 75 | €63,568 | €63,441 | -€126 | -0.2% |
| Financial charges | 65/66B | €20,936 | €15,082 | -€5,854 | -28.0% |
| Recurring financial charges | 65 | €15,759 | €15,032 | -€727 | -4.6% |
| Non-recurring financial charges | 66B | €5,177 | €50 | -€5,127 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | €1,105,617 | €1,023,784 | -€81,834 | -7.4% |
| Income taxes | 67/77 | €297,481 | €268,202 | -€29,279 | -9.8% |
| Profit (loss) for the period | 9904 | €808,136 | €755,582 | -€52,555 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €808,136 | €755,582 | -€52,555 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.