PICABRI: what changed
PICABRI
Largest movements
- Cash -€18,263
down €18,263 (-36.1%), from €50,526 to €32,262
mainly Investment in fixed assets (net) (-€24,900) and Trade debts (-€16,445)
- Stocks and contracts -€11,030
down €11,030 (-66.6%), from €16,558 to €5,528
- Receivables within one year +€8,880
up €8,880 (+14.9%), from €59,521 to €68,401
of which Trade receivables: +€10,713
- Tangible fixed assets -€4,621
down €4,621 (-6.1%), from €76,353 to €71,732
of which Plant, machinery and equipment: -€4,170
- Trade debts -€16,445
down €16,445 (-62.5%), from €26,303 to €9,858
- Profit (loss) carried forward -€4,952
down €4,952 (-5.9%), from €84,649 to €79,696
- Tax, wage and social debts -€4,250
down €4,250 (-70.3%), from €6,045 to €1,795
of which Remuneration and social security: -€2,980
- Staff costs -€39,521
down €39,521 (-73.3%), from €53,907 to €14,387
- Gross operating margin -€31,674
down €31,674 (-39.1%), from €81,031 to €49,358
- Depreciation -€6,984
down €6,984 (-19.1%), from €36,505 to €29,521
- Financial charges +€938
up €938 (+41.6%), from €2,255 to €3,194
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,938 | €179,563 | -€25,375 | -12.4% |
| Fixed assets | 21/28 | €76,630 | €72,009 | -€4,621 | -6.0% |
| Tangible fixed assets | 22/27 | €76,353 | €71,732 | -€4,621 | -6.1% |
| Plant, machinery and equipment | 23 | €15,517 | €11,346 | -€4,170 | -26.9% |
| Furniture and vehicles | 24 | €60,115 | €60,385 | +€270 | +0.4% |
| Other tangible fixed assets | 26 | €721 | - | -€721 | |
| Financial fixed assets | 28 | €278 | €278 | = | 0.0% |
| Current assets | 29/58 | €128,308 | €107,554 | -€20,754 | -16.2% |
| Stocks and contracts in progress | 3 | €16,558 | €5,528 | -€11,030 | -66.6% |
| Stocks | 30/36 | €16,558 | €5,528 | -€11,030 | -66.6% |
| Amounts receivable within one year | 40/41 | €59,521 | €68,401 | +€8,880 | +14.9% |
| Trade receivables | 40 | €49,519 | €60,232 | +€10,713 | +21.6% |
| Other amounts receivable | 41 | €10,003 | €8,170 | -€1,833 | -18.3% |
| Cash at bank and in hand | 54/58 | €50,526 | €32,262 | -€18,263 | -36.1% |
| Deferred charges and accrued income | 490/1 | €1,704 | €1,362 | -€342 | -20.1% |
| Total equity and liabilities | 10/49 | €204,938 | €179,563 | -€25,375 | -12.4% |
| Equity | 10/15 | €109,359 | €104,406 | -€4,952 | -4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €12,310 | €12,310 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,455 | €10,455 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,649 | €79,696 | -€4,952 | -5.9% |
| Amounts payable | 17/49 | €95,580 | €75,157 | -€20,423 | -21.4% |
| Amounts payable after more than one year | 17 | €40,530 | €39,638 | -€892 | -2.2% |
| Financial debts | 170/4 | €40,530 | €39,638 | -€892 | -2.2% |
| Amounts payable within one year | 42/48 | €55,049 | €34,622 | -€20,427 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €21,450 | €21,718 | +€268 | +1.2% |
| Financial debts | 43 | €1,250 | €1,250 | = | 0.0% |
| Credit institutions | 430/8 | €1,250 | €1,250 | = | 0.0% |
| Trade debts | 44 | €26,303 | €9,858 | -€16,445 | -62.5% |
| Suppliers | 440/4 | €26,303 | €9,858 | -€16,445 | -62.5% |
| Taxes, remuneration and social security | 45 | €6,045 | €1,795 | -€4,250 | -70.3% |
| Taxes | 450/3 | €3,027 | €1,756 | -€1,270 | -42.0% |
| Remuneration and social security | 454/9 | €3,019 | €39 | -€2,980 | -98.7% |
| Accrued charges and deferred income | 492/3 | - | €896 | +€896 | |
| Remuneration, social security and pensions | 62 | €53,907 | €14,387 | -€39,521 | -73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,505 | €29,521 | -€6,984 | -19.1% |
| Other operating charges | 640/8 | €1,505 | €1,622 | +€116 | +7.7% |
| Gross operating margin | 9900 | €81,031 | €49,358 | -€31,674 | -39.1% |
| Operating profit (loss) | 9901 | -€10,886 | €3,828 | +€14,715 | |
| Financial income | 75/76B | €430 | €364 | -€66 | -15.3% |
| Recurring financial income | 75 | €430 | €364 | -€66 | -15.3% |
| Financial charges | 65/66B | €2,255 | €3,194 | +€938 | +41.6% |
| Recurring financial charges | 65 | €2,255 | €3,194 | +€938 | +41.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,712 | €999 | +€13,711 | |
| Income taxes | 67/77 | €104 | €97 | -€7 | -6.3% |
| Profit (loss) for the period | 9904 | -€12,816 | €901 | +€13,717 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,816 | €901 | +€13,717 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.