PICABO: 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.
PICABO
Largest movements
- Cash -€31,164
down €31,164 (-68.4%), from €45,552 to €14,388
mainly Other debts (-€34,764) and Net result for the year (-€12,473)
- Tangible fixed assets -€24,302
down €24,302 (-5.5%), from €443,703 to €419,401
of which Land and buildings: -€24,088
- Other debts -€34,764
down €34,764 (-12.0%), from €288,506 to €253,742
- Profit (loss) carried forward -€12,473
down €12,473 (-11.3%), from €110,740 to €98,267
- Debts after one year -€10,314
down €10,314 (-30.3%), from €34,057 to €23,743
- Gross operating margin -€15,294
down €15,294 (-25.8%), from €59,208 to €43,914
- Staff costs -€7,927
down €7,927 (-26.6%), from €29,841 to €21,914
- Other operating charges +€1,887
up €1,887 (+101.8%), from €1,853 to €3,740
- Depreciation +€889
up €889 (+3.2%), from €27,833 to €28,723
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 | €537,853 | €477,225 | -€60,628 | -11.3% |
| Fixed assets | 21/28 | €444,075 | €419,773 | -€24,302 | -5.5% |
| Tangible fixed assets | 22/27 | €443,703 | €419,401 | -€24,302 | -5.5% |
| Land and buildings | 22 | €423,373 | €399,285 | -€24,088 | -5.7% |
| Plant, machinery and equipment | 23 | €11,005 | €10,457 | -€548 | -5.0% |
| Furniture and vehicles | 24 | €9,324 | €9,659 | +€334 | +3.6% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €93,778 | €57,452 | -€36,326 | -38.7% |
| Stocks and contracts in progress | 3 | €6,276 | €6,801 | +€525 | +8.4% |
| Stocks | 30/36 | €6,276 | €6,801 | +€525 | +8.4% |
| Amounts receivable within one year | 40/41 | €23,803 | €21,094 | -€2,709 | -11.4% |
| Trade receivables | 40 | €23,180 | €20,419 | -€2,761 | -11.9% |
| Other amounts receivable | 41 | €623 | €675 | +€52 | +8.3% |
| Cash at bank and in hand | 54/58 | €45,552 | €14,388 | -€31,164 | -68.4% |
| Deferred charges and accrued income | 490/1 | €18,147 | €15,169 | -€2,979 | -16.4% |
| Total equity and liabilities | 10/49 | €537,853 | €477,225 | -€60,628 | -11.3% |
| Equity | 10/15 | €178,940 | €166,467 | -€12,473 | -7.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,740 | €98,267 | -€12,473 | -11.3% |
| Amounts payable | 17/49 | €358,913 | €310,758 | -€48,155 | -13.4% |
| Amounts payable after more than one year | 17 | €34,057 | €23,743 | -€10,314 | -30.3% |
| Financial debts | 170/4 | €34,057 | €23,743 | -€10,314 | -30.3% |
| Amounts payable within one year | 42/48 | €323,750 | €285,909 | -€37,841 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €10,169 | €10,314 | +€144 | +1.4% |
| Trade debts | 44 | €17,390 | €15,787 | -€1,603 | -9.2% |
| Suppliers | 440/4 | €17,390 | €15,787 | -€1,603 | -9.2% |
| Advances received on contracts in progress | 46 | €800 | €800 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,885 | €5,266 | -€1,618 | -23.5% |
| Taxes | 450/3 | €3,305 | €4,659 | +€1,353 | +41.0% |
| Remuneration and social security | 454/9 | €3,580 | €608 | -€2,972 | -83.0% |
| Other amounts payable | 47/48 | €288,506 | €253,742 | -€34,764 | -12.0% |
| Accrued charges and deferred income | 492/3 | €1,106 | €1,106 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €29,841 | €21,914 | -€7,927 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,833 | €28,723 | +€889 | +3.2% |
| Other operating charges | 640/8 | €1,853 | €3,740 | +€1,887 | +101.8% |
| Non-recurring operating charges | 66A | €9,878 | - | -€9,878 | |
| Gross operating margin | 9900 | €59,208 | €43,914 | -€15,294 | -25.8% |
| Operating profit (loss) | 9901 | -€10,197 | -€10,462 | -€265 | -2.6% |
| Financial charges | 65/66B | €2,168 | €2,011 | -€157 | -7.3% |
| Recurring financial charges | 65 | €2,168 | €2,011 | -€157 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,365 | -€12,473 | -€108 | -0.9% |
| Profit (loss) for the period | 9904 | -€12,365 | -€12,473 | -€108 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,365 | -€12,473 | -€108 | -0.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.