PICAINVEST: 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.
PICAINVEST
Largest movements
- Cash -€14,566
down €14,566 (-21.1%), from €69,001 to €54,435
mainly Net result for the year (-€14,746)
- Profit (loss) carried forward -€14,746
down €14,746 (-48.4%), from -€30,468 to -€45,214
No income-statement line moved by more than 1% of the activity.
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 | €642,850 | €628,238 | -€14,612 | -2.3% |
| Formation expenses | 20 | €0 | - | = | |
| Current assets | 29/58 | €642,850 | €628,238 | -€14,612 | -2.3% |
| Stocks and contracts in progress | 3 | €573,803 | €573,803 | = | 0.0% |
| Stocks | 30/36 | €573,803 | €573,803 | = | 0.0% |
| Property held for sale | 35 | €573,803 | €573,803 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,001 | €54,435 | -€14,566 | -21.1% |
| Deferred charges and accrued income | 490/1 | €46 | €0 | -€46 | -100.0% |
| Total equity and liabilities | 10/49 | €642,850 | €628,238 | -€14,612 | -2.3% |
| Equity | 10/15 | €5,290 | -€9,456 | -€14,746 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,758 | €15,758 | = | 0.0% |
| Distributable reserves | 133 | €15,758 | €15,758 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,468 | -€45,214 | -€14,746 | -48.4% |
| Amounts payable | 17/49 | €637,560 | €637,694 | +€134 | 0.0% |
| Amounts payable within one year | 42/48 | €630,000 | €630,114 | +€114 | 0.0% |
| Trade debts | 44 | - | €114 | +€114 | |
| Suppliers | 440/4 | - | €114 | +€114 | |
| Other amounts payable | 47/48 | €630,000 | €630,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,560 | €7,581 | +€21 | +0.3% |
| Operating charges | 60/66A | €10,226 | €5,978 | -€4,248 | -41.5% |
| Services and other goods | 61 | €5,457 | €1,764 | -€3,693 | -67.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €568 | €0 | -€568 | -100.0% |
| Other operating charges | 640/8 | €4,202 | €4,214 | +€12 | +0.3% |
| Operating profit (loss) | 9901 | -€10,226 | -€5,978 | +€4,248 | +41.5% |
| Financial charges | 65/66B | €8,738 | €8,768 | +€30 | +0.3% |
| Recurring financial charges | 65 | €8,738 | €8,768 | +€30 | +0.3% |
| Debt charges | 650 | €7,560 | €7,560 | = | 0.0% |
| Other financial charges | 652/9 | €1,178 | €1,208 | +€30 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,964 | -€14,746 | +€4,218 | +22.2% |
| Profit (loss) for the period | 9904 | -€18,964 | -€14,746 | +€4,218 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,964 | -€14,746 | +€4,218 | +22.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.