PICADURA: 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.
PICADURA
Largest movements
- Current investments -€33,588
down €33,588 (-10.2%), from €329,197 to €295,609
- Tangible fixed assets -€11,017
down €11,017 (-22.7%), from €48,587 to €37,570
- Reserves -€43,500
down €43,500 (-10.9%), from €400,550 to €357,050
of which Distributable reserves: -€43,500
- Turnover +€7,964
up €7,964 (+2,655%), from €300 to €8,264
- Gross operating margin +€5,873
up €5,873 (+13.2%), from -€44,463 to -€38,590
- Financial income +€4,612
up €4,612 (+136%), from €3,394 to €8,007
- Depreciation +€3,349
up €3,349 (+43.7%), from €7,668 to €11,017
- Other operating charges -€729
down €729 (-45.9%), from €1,587 to €859
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 | €488,232 | €447,274 | -€40,958 | -8.4% |
| Fixed assets | 21/28 | €48,587 | €37,570 | -€11,017 | -22.7% |
| Tangible fixed assets | 22/27 | €48,587 | €37,570 | -€11,017 | -22.7% |
| Furniture and vehicles | 24 | €48,587 | €37,570 | -€11,017 | -22.7% |
| Current assets | 29/58 | €439,645 | €409,704 | -€29,941 | -6.8% |
| Amounts receivable within one year | 40/41 | €106,687 | €111,062 | +€4,376 | +4.1% |
| Trade receivables | 40 | €24,399 | €28,149 | +€3,751 | +15.4% |
| Other amounts receivable | 41 | €82,288 | €82,913 | +€625 | +0.8% |
| Current investments | 50/53 | €329,197 | €295,609 | -€33,588 | -10.2% |
| Cash at bank and in hand | 54/58 | €2,163 | €1,682 | -€481 | -22.2% |
| Deferred charges and accrued income | 490/1 | €1,598 | €1,350 | -€248 | -15.5% |
| Total equity and liabilities | 10/49 | €488,232 | €447,274 | -€40,958 | -8.4% |
| Equity | 10/15 | €486,366 | €442,729 | -€43,637 | -9.0% |
| Contributions | 10/11 | €85,500 | €85,500 | = | 0.0% |
| Capital | 10 | €85,500 | €85,500 | = | 0.0% |
| Issued capital | 100 | €85,500 | €85,500 | = | 0.0% |
| Reserves | 13 | €400,550 | €357,050 | -€43,500 | -10.9% |
| Non-distributable reserves | 130/1 | €8,550 | €8,550 | = | 0.0% |
| Legal reserve | 130 | €8,550 | €8,550 | = | 0.0% |
| Distributable reserves | 133 | €392,000 | €348,500 | -€43,500 | -11.1% |
| Profit (loss) carried forward | 14 | €316 | €179 | -€137 | -43.3% |
| Amounts payable | 17/49 | €1,865 | €4,545 | +€2,679 | +144% |
| Amounts payable within one year | 42/48 | €1,800 | €4,478 | +€2,678 | +149% |
| Trade debts | 44 | €179 | €2,622 | +€2,443 | +1,366% |
| Suppliers | 440/4 | €179 | €2,622 | +€2,443 | +1,366% |
| Taxes, remuneration and social security | 45 | €750 | €1,023 | +€273 | +36.4% |
| Taxes | 450/3 | - | €273 | +€273 | |
| Remuneration and social security | 454/9 | €750 | €750 | = | 0.0% |
| Other amounts payable | 47/48 | €871 | €833 | -€38 | -4.4% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Turnover | 70 | €300 | €8,264 | +€7,964 | +2,655% |
| Non-recurring operating income | 76A | €1,244 | - | -€1,244 | |
| Goods, raw materials, services and sundry goods | 60/61 | €46,421 | €46,854 | +€433 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,668 | €11,017 | +€3,349 | +43.7% |
| Other operating charges | 640/8 | €1,587 | €859 | -€729 | -45.9% |
| Gross operating margin | 9900 | -€44,463 | -€38,590 | +€5,873 | +13.2% |
| Operating profit (loss) | 9901 | -€53,719 | -€50,466 | +€3,253 | +6.1% |
| Financial income | 75/76B | €3,394 | €8,007 | +€4,612 | +136% |
| Recurring financial income | 75 | €3,394 | €8,007 | +€4,612 | +136% |
| Financial charges | 65/66B | €106 | €98 | -€9 | -8.1% |
| Recurring financial charges | 65 | €106 | €98 | -€9 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€50,431 | -€42,557 | +€7,874 | +15.6% |
| Income taxes | 67/77 | €187 | €247 | +€60 | +31.9% |
| Profit (loss) for the period | 9904 | -€50,618 | -€42,804 | +€7,814 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,618 | -€42,804 | +€7,814 | +15.4% |
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 31 October 2026 via checked.be.