PIC & CO: what changed
Two fiscal 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.
PIC & CO
Largest movements
- Receivables within one year -€10,434
down €10,434 (-96.2%), from €10,848 to €414
of which Trade receivables: -€10,254
- Cash -€5,197
down €5,197 (-97.5%), from €5,330 to €133
mainly Net result for the year (-€14,896) and Stocks and contracts (-€2,500)
- Tangible fixed assets -€3,301
down €3,301 (-85.8%), from €3,846 to €545
of which Other tangible fixed assets: -€2,561
- Stocks and contracts +€2,500
up €2,500 (+47.1%), from €5,310 to €7,810
- Profit (loss) carried forward -€14,896
down €14,896 (-48.8%), from -€30,494 to -€45,389
- Other debts -€2,424
down €2,424 (-9.5%), from €25,435 to €23,010
- Trade debts +€888
up €888 (+48.4%), from €1,833 to €2,721
- Gross operating margin -€24,074
down €24,074, from €14,325 to -€9,749
- Depreciation -€1,230
down €1,230 (-24.4%), from €5,037 to €3,807
- Write-downs -€520
no longer reported in 2025 (was €520)
- Other operating charges -€149
down €149 (-10.3%), from €1,446 to €1,297
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 | €25,374 | €8,942 | -€16,433 | -64.8% |
| Fixed assets | 21/28 | €3,886 | €585 | -€3,301 | -85.0% |
| Tangible fixed assets | 22/27 | €3,846 | €545 | -€3,301 | -85.8% |
| Plant, machinery and equipment | 23 | - | €379 | +€379 | |
| Furniture and vehicles | 24 | €1,286 | €165 | -€1,120 | -87.1% |
| Other tangible fixed assets | 26 | €2,561 | - | -€2,561 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €21,488 | €8,357 | -€13,131 | -61.1% |
| Stocks and contracts in progress | 3 | €5,310 | €7,810 | +€2,500 | +47.1% |
| Stocks | 30/36 | €5,310 | €7,810 | +€2,500 | +47.1% |
| Amounts receivable within one year | 40/41 | €10,848 | €414 | -€10,434 | -96.2% |
| Trade receivables | 40 | €10,654 | €400 | -€10,254 | -96.2% |
| Other amounts receivable | 41 | €194 | €14 | -€180 | -92.7% |
| Cash at bank and in hand | 54/58 | €5,330 | €133 | -€5,197 | -97.5% |
| Total equity and liabilities | 10/49 | €25,374 | €8,942 | -€16,433 | -64.8% |
| Equity | 10/15 | -€11,894 | -€26,789 | -€14,896 | -125.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,494 | -€45,389 | -€14,896 | -48.8% |
| Amounts payable | 17/49 | €37,268 | €35,731 | -€1,537 | -4.1% |
| Amounts payable after more than one year | 17 | €10,000 | €10,000 | = | 0.0% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €27,268 | €25,731 | -€1,537 | -5.6% |
| Trade debts | 44 | €1,833 | €2,721 | +€888 | +48.4% |
| Suppliers | 440/4 | €1,833 | €2,721 | +€888 | +48.4% |
| Other amounts payable | 47/48 | €25,435 | €23,010 | -€2,424 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,037 | €3,807 | -€1,230 | -24.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €520 | - | -€520 | |
| Other operating charges | 640/8 | €1,446 | €1,297 | -€149 | -10.3% |
| Gross operating margin | 9900 | €14,325 | -€9,749 | -€24,074 | |
| Operating profit (loss) | 9901 | €7,323 | -€14,853 | -€22,175 | |
| Financial charges | 65/66B | €44 | €43 | -€1 | -2.0% |
| Recurring financial charges | 65 | €44 | €43 | -€1 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €7,279 | -€14,896 | -€22,174 | |
| Profit (loss) for the period | 9904 | €7,279 | -€14,896 | -€22,174 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,279 | -€14,896 | -€22,174 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.