PIC Vert Construction: 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 Vert Construction
Largest movements
- Tangible fixed assets +€172,877
up €172,877 (+259.0%), from €66,749 to €239,626
of which Assets under construction and advance payments: +€171,224
- Cash -€19,623
down €19,623 (-52.3%), from €37,486 to €17,863
mainly Investment in fixed assets (net) (-€195,775) and Receivables within one year (-€4,206)
- Stocks and contracts -€5,194
down €5,194 (-62.3%), from €8,344 to €3,150
- Receivables within one year +€4,206
up €4,206 (+43.5%), from €9,658 to €13,864
of which Other amounts receivable: +€2,327
- Debts after one year +€145,000
up €145,000 (+322.2%), from €45,000 to €190,000
of which Financial debts: +€115,000
- Current portion of long-term debt +€10,000
new in 2025: €10,000
- Gross operating margin -€19,069
down €19,069 (-46.4%), from €41,116 to €22,047
- Depreciation +€12,035
up €12,035 (+142.1%), from €8,472 to €20,507
- Taxes -€6,264
down €6,264 (-93.6%), from €6,689 to €425
- Financial charges +€713
up €713 (+176.3%), from €404 to €1,118
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 | €123,916 | €278,563 | +€154,647 | +124.8% |
| Fixed assets | 21/28 | €66,749 | €242,016 | +€175,267 | +262.6% |
| Intangible fixed assets | 21 | - | €2,390 | +€2,390 | |
| Tangible fixed assets | 22/27 | €66,749 | €239,626 | +€172,877 | +259.0% |
| Land and buildings | 22 | - | €16,600 | +€16,600 | |
| Plant, machinery and equipment | 23 | €2,191 | €821 | -€1,370 | -62.5% |
| Furniture and vehicles | 24 | €59,945 | €48,073 | -€11,872 | -19.8% |
| Other tangible fixed assets | 26 | €4,612 | €2,908 | -€1,705 | -37.0% |
| Assets under construction and advance payments | 27 | - | €171,224 | +€171,224 | |
| Current assets | 29/58 | €57,167 | €36,547 | -€20,620 | -36.1% |
| Stocks and contracts in progress | 3 | €8,344 | €3,150 | -€5,194 | -62.3% |
| Stocks | 30/36 | €8,344 | €3,150 | -€5,194 | -62.3% |
| Amounts receivable within one year | 40/41 | €9,658 | €13,864 | +€4,206 | +43.5% |
| Trade receivables | 40 | €2,099 | €3,978 | +€1,879 | +89.5% |
| Other amounts receivable | 41 | €7,560 | €9,887 | +€2,327 | +30.8% |
| Cash at bank and in hand | 54/58 | €37,486 | €17,863 | -€19,623 | -52.3% |
| Deferred charges and accrued income | 490/1 | €1,678 | €1,670 | -€9 | -0.5% |
| Total equity and liabilities | 10/49 | €123,916 | €278,563 | +€154,647 | +124.8% |
| Equity | 10/15 | €75,115 | €74,224 | -€891 | -1.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,115 | €70,224 | -€891 | -1.3% |
| Amounts payable | 17/49 | €48,801 | €204,339 | +€155,539 | +318.7% |
| Amounts payable after more than one year | 17 | €45,000 | €190,000 | +€145,000 | +322.2% |
| Financial debts | 170/4 | €45,000 | €160,000 | +€115,000 | +255.6% |
| Other amounts payable | 178/9 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €3,801 | €14,339 | +€10,539 | +277.3% |
| Current portion of amounts payable after more than one year | 42 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €3,801 | €1,023 | -€2,778 | -73.1% |
| Suppliers | 440/4 | €3,801 | €1,023 | -€2,778 | -73.1% |
| Taxes, remuneration and social security | 45 | - | €2,351 | +€2,351 | |
| Taxes | 450/3 | - | €2,351 | +€2,351 | |
| Other amounts payable | 47/48 | - | €965 | +€965 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,472 | €20,507 | +€12,035 | +142.1% |
| Other operating charges | 640/8 | €649 | €888 | +€239 | +36.8% |
| Gross operating margin | 9900 | €41,116 | €22,047 | -€19,069 | -46.4% |
| Operating profit (loss) | 9901 | €31,994 | €651 | -€31,343 | -98.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €404 | €1,118 | +€713 | +176.3% |
| Recurring financial charges | 65 | €404 | €1,118 | +€713 | +176.3% |
| Profit (loss) for the period before taxes | 9903 | €31,590 | -€466 | -€32,056 | |
| Income taxes | 67/77 | €6,689 | €425 | -€6,264 | -93.6% |
| Profit (loss) for the period | 9904 | €24,901 | -€891 | -€25,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,901 | -€891 | -€25,793 |
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 4 October 2026 via checked.be.