PICADILLY 500: 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.
What changed
PICADILLY 500
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€118,612
2024 · -€266,535+€147,923
Equity
-€4.9m
2024 · -€4.7m-€118,612
Cash
€44,905
2024 · €4,103+€40,802
Balance sheet total
€3.9m
2024 · €3.9m-€8,783
Largest movements
Assets
- Cash +€40,802
up €40,802 (+994%), from €4,103 to €44,905
mainly Other debts (+€112,286) and Receivables within one year (+€27,770)
Equity and liabilities
- Profit (loss) carried forward -€118,612
down €118,612 (-1.9%), from -€6.3m to -€6.4m
- Other debts +€112,286
up €112,286 (+1.3%), from €8.6m to €8.7m
Income statement
- Financial charges -€120,862
down €120,862 (-30.2%), from €400,548 to €279,686
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.
Result 2024
-€266,535
Other operating charges
-€31
Other operating items
+€27,092
Financial income
+€0
Financial charges
+€120,862
Result 2025
-€118,612
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€40,802
Investment
€0
Financing
€0
Cash 2024
€4,103
From operations (derived)
+€40,802
Net result for the year
-€118,612
Depreciation
+€21,815
Receivables within one year
+€27,770
Trade debts
-€2,748
Tax, wage and social debts
+€291
Other debts
+€112,286
Cash 2025
€44,905
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,879,994 | €3,871,211 | -€8,783 | -0.2% |
| Fixed assets | 21/28 | €3,830,731 | €3,808,916 | -€21,815 | -0.6% |
| Tangible fixed assets | 22/27 | €3,830,731 | €3,808,916 | -€21,815 | -0.6% |
| Land and buildings | 22 | €1,636,153 | €1,614,337 | -€21,815 | -1.3% |
| Assets under construction and advance payments | 27 | €2,194,578 | €2,194,578 | = | 0.0% |
| Current assets | 29/58 | €49,263 | €62,296 | +€13,032 | +26.5% |
| Amounts receivable within one year | 40/41 | €45,160 | €17,391 | -€27,770 | -61.5% |
| Trade receivables | 40 | €45,160 | €17,391 | -€27,770 | -61.5% |
| Cash at bank and in hand | 54/58 | €4,103 | €44,905 | +€40,802 | +994% |
| Total equity and liabilities | 10/49 | €3,879,994 | €3,871,211 | -€8,783 | -0.2% |
| Equity | 10/15 | -€4,735,621 | -€4,854,233 | -€118,612 | -2.5% |
| Contributions | 10/11 | €1,530,000 | €1,530,000 | = | 0.0% |
| Capital | 10 | €1,530,000 | €1,530,000 | = | 0.0% |
| Issued capital | 100 | €1,530,000 | €1,530,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,265,621 | -€6,384,233 | -€118,612 | -1.9% |
| Amounts payable | 17/49 | €8,615,615 | €8,725,444 | +€109,829 | +1.3% |
| Amounts payable within one year | 42/48 | €8,615,615 | €8,725,444 | +€109,829 | +1.3% |
| Trade debts | 44 | €37,579 | €34,831 | -€2,748 | -7.3% |
| Suppliers | 440/4 | €37,579 | €34,831 | -€2,748 | -7.3% |
| Taxes, remuneration and social security | 45 | €1,235 | €1,526 | +€291 | +23.5% |
| Taxes | 450/3 | €1,235 | €1,526 | +€291 | +23.5% |
| Other amounts payable | 47/48 | €8,576,801 | €8,689,087 | +€112,286 | +1.3% |
| Operating income | 70/76A | €234,853 | €253,332 | +€18,479 | +7.9% |
| Other operating income | 74 | €129,971 | €154,210 | +€24,239 | +18.6% |
| Non-recurring operating income | 76A | €104,882 | €99,122 | -€5,760 | -5.5% |
| Operating charges | 60/66A | €100,840 | €92,258 | -€8,582 | -8.5% |
| Services and other goods | 61 | €78,057 | €69,444 | -€8,613 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,815 | €21,815 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | €134,013 | €161,074 | +€27,061 | +20.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Income from current assets | 751 | - | €0 | +€0 | |
| Financial charges | 65/66B | €400,548 | €279,686 | -€120,862 | -30.2% |
| Recurring financial charges | 65 | €400,548 | €279,686 | -€120,862 | -30.2% |
| Debt charges | 650 | €400,177 | €279,261 | -€120,916 | -30.2% |
| Other financial charges | 652/9 | €371 | €425 | +€54 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | -€266,535 | -€118,612 | +€147,923 | +55.5% |
| Profit (loss) for the period | 9904 | -€266,535 | -€118,612 | +€147,923 | +55.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€266,535 | -€118,612 | +€147,923 | +55.5% |
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.