PICA & DEB: 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.
PICA & DEB
Largest movements
- Deferred charges and accrued income +€33,148
up €33,148 (+10,615%), from €312 to €33,461
- Receivables within one year -€21,304
down €21,304 (-13.5%), from €158,354 to €137,050
of which Trade receivables: -€11,082
- Cash +€13,964
up €13,964 (+208%), from €6,713 to €20,677
mainly Net result for the year (+€31,385) and Receivables within one year (+€21,304)
- Reserves +€25,000
up €25,000 (+406%), from €6,152 to €31,152
of which Distributable reserves: +€25,000
- Tax, wage and social debts +€11,559
up €11,559 (+53.7%), from €21,528 to €33,087
of which Taxes: +€10,423
- Debts after one year -€5,167
down €5,167 (-64.5%), from €8,010 to €2,843
- Profit (loss) carried forward -€4,695
down €4,695 (-6.9%), from €67,697 to €63,002
- Current portion of long-term debt -€3,438
down €3,438 (-72.7%), from €4,732 to €1,294
- Gross operating margin +€12,157
up €12,157 (+30.1%), from €40,403 to €52,560
- Other operating charges +€3,210
up €3,210 (+130%), from €2,464 to €5,674
- Taxes +€2,840
up €2,840 (+30.0%), from €9,479 to €12,319
- Depreciation -€1,189
down €1,189 (-28.1%), from €4,238 to €3,049
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 | €176,062 | €201,102 | +€25,040 | +14.2% |
| Fixed assets | 21/28 | €10,682 | €9,914 | -€768 | -7.2% |
| Tangible fixed assets | 22/27 | €10,622 | €9,854 | -€768 | -7.2% |
| Plant, machinery and equipment | 23 | - | €2,221 | +€2,221 | |
| Furniture and vehicles | 24 | €4,716 | €2,628 | -€2,088 | -44.3% |
| Other tangible fixed assets | 26 | €5,907 | €5,005 | -€902 | -15.3% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €165,380 | €191,188 | +€25,809 | +15.6% |
| Amounts receivable within one year | 40/41 | €158,354 | €137,050 | -€21,304 | -13.5% |
| Trade receivables | 40 | €11,179 | €98 | -€11,082 | -99.1% |
| Other amounts receivable | 41 | €147,175 | €136,952 | -€10,223 | -6.9% |
| Cash at bank and in hand | 54/58 | €6,713 | €20,677 | +€13,964 | +208% |
| Deferred charges and accrued income | 490/1 | €312 | €33,461 | +€33,148 | +10,615% |
| Total equity and liabilities | 10/49 | €176,062 | €201,102 | +€25,040 | +14.2% |
| Equity | 10/15 | €135,368 | €155,673 | +€20,305 | +15.0% |
| Contributions | 10/11 | €61,519 | €61,519 | = | 0.0% |
| Capital | 10 | €61,519 | €61,519 | = | 0.0% |
| Issued capital | 100 | €61,519 | €61,519 | = | 0.0% |
| Reserves | 13 | €6,152 | €31,152 | +€25,000 | +406% |
| Non-distributable reserves | 130/1 | €6,152 | €6,152 | = | 0.0% |
| Legal reserve | 130 | €6,152 | €6,152 | = | 0.0% |
| Distributable reserves | 133 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | €67,697 | €63,002 | -€4,695 | -6.9% |
| Amounts payable | 17/49 | €40,694 | €45,429 | +€4,735 | +11.6% |
| Amounts payable after more than one year | 17 | €8,010 | €2,843 | -€5,167 | -64.5% |
| Financial debts | 170/4 | €8,010 | €2,843 | -€5,167 | -64.5% |
| Amounts payable within one year | 42/48 | €32,684 | €42,177 | +€9,492 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €4,732 | €1,294 | -€3,438 | -72.7% |
| Trade debts | 44 | €2,144 | €2,315 | +€171 | +8.0% |
| Suppliers | 440/4 | €2,144 | €2,315 | +€171 | +8.0% |
| Taxes, remuneration and social security | 45 | €21,528 | €33,087 | +€11,559 | +53.7% |
| Taxes | 450/3 | €21,528 | €31,951 | +€10,423 | +48.4% |
| Remuneration and social security | 454/9 | - | €1,136 | +€1,136 | |
| Other amounts payable | 47/48 | €4,281 | €5,481 | +€1,200 | +28.0% |
| Accrued charges and deferred income | 492/3 | - | €410 | +€410 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,238 | €3,049 | -€1,189 | -28.1% |
| Other operating charges | 640/8 | €2,464 | €5,674 | +€3,210 | +130% |
| Gross operating margin | 9900 | €40,403 | €52,560 | +€12,157 | +30.1% |
| Operating profit (loss) | 9901 | €33,701 | €43,838 | +€10,137 | +30.1% |
| Financial income | 75/76B | €2,122 | €1,788 | -€334 | -15.7% |
| Recurring financial income | 75 | €2,122 | €1,788 | -€334 | -15.7% |
| Financial charges | 65/66B | €1,745 | €1,922 | +€177 | +10.2% |
| Recurring financial charges | 65 | €1,745 | €1,922 | +€177 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €34,078 | €43,704 | +€9,626 | +28.2% |
| Income taxes | 67/77 | €9,479 | €12,319 | +€2,840 | +30.0% |
| Profit (loss) for the period | 9904 | €24,599 | €31,385 | +€6,786 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,599 | €31,385 | +€6,786 | +27.6% |
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 20 October 2026 via checked.be.