PICARD: 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.
What changed
PICARD
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€97,528
2024 · €184,446-€281,974
Equity
€3.2m
2024 · €3.3m-€97,528
Cash
€144,308
2024 · €1,614+€142,694
Balance sheet total
€16.9m
2024 · €11.9m+€5.0m
Largest movements
Assets
- Financial fixed assets -€7.4m
down €7.4m (-99.9%), from €7.4m to €8,036
of which Affiliated companies: -€7.4m
- Intangible fixed assets +€6.7m
new in 2025: €6.7m
- Stocks and contracts +€2.7m
up €2.7m (+119.0%), from €2.3m to €5.0m
- Tangible fixed assets +€1.8m
up €1.8m (+85.3%), from €2.1m to €3.8m
of which Land and buildings: +€1.4m
- Receivables within one year +€1.0m
up €1.0m (+559.7%), from €182,092 to €1.2m
of which Trade receivables: +€1.0m
Equity and liabilities
- Debts after one year +€2.7m
up €2.7m (+290.9%), from €923,842 to €3.6m
- Trade debts +€1.4m
up €1.4m (+90.8%), from €1.5m to €2.9m
- Other debts -€940,356
down €940,356 (-20.2%), from €4.6m to €3.7m
- Short-term financial debts +€940,022
up €940,022 (+110.6%), from €850,000 to €1.8m
- Current portion of long-term debt +€532,501
up €532,501 (+137.6%), from €386,959 to €919,460
Income statement
- Turnover +€24.9m
up €24.9m (+149.2%), from €16.7m to €41.6m
- Goods and materials +€20.4m
up €20.4m (+146.9%), from €13.9m to €34.3m
of which Purchases: +€23.9m
- Staff costs +€2.6m
up €2.6m (+170.2%), from €1.5m to €4.1m
- Services and other goods +€1.3m
up €1.3m (+136.8%), from €951,903 to €2.3m
- Depreciation +€520,148
up €520,148 (+374.1%), from €139,034 to €659,182
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
€184,446
Turnover
+€24.9m
Other operating income
+€49,225
Goods and materials
-€20.4m
Services and other goods
-€1.3m
Staff costs
-€2.6m
Depreciation
-€520,148
Write-downs
-€91,978
Other operating charges
-€132,027
Other operating items
-€5,674
Financial income
+€22,823
Financial charges
-€218,121
Taxes
-€27,909
Deferred taxes and other
-€28,740
Result 2025
-€97,528
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.
From operations
-€2.3m
Investment
-€1.8m
Financing
+€4.2m
Cash 2024
€1,614
From operations (derived)
-€2.3m
Net result for the year
-€97,528
Depreciation
+€659,182
Stocks and contracts
-€2.7m
Receivables within one year
-€1.0m
Deferred charges and accrued income
+€9,157
Trade debts
+€1.4m
Tax, wage and social debts
+€398,179
Other debts
-€940,356
Accrued charges and deferred income
+€75,413
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
+€4.2m
Debts after one year
+€2.7m
Current portion of long-term debt
+€532,501
Short-term financial debts
+€940,022
Cash 2025
€144,308
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,918,754 | €16,872,355 | +€5.0m | +41.6% |
| Fixed assets | 21/28 | €9,437,192 | €10,540,662 | +€1.1m | +11.7% |
| Intangible fixed assets | 21 | - | €6,722,007 | +€6.7m | |
| Tangible fixed assets | 22/27 | €2,055,949 | €3,810,620 | +€1.8m | +85.3% |
| Land and buildings | 22 | €1,821,285 | €3,196,579 | +€1.4m | +75.5% |
| Plant, machinery and equipment | 23 | €170,528 | €473,652 | +€303,124 | +177.8% |
| Furniture and vehicles | 24 | €64,136 | €140,388 | +€76,253 | +118.9% |
| Financial fixed assets | 28 | €7,381,243 | €8,036 | -€7.4m | -99.9% |
| Affiliated companies | 280/1 | €7,376,800 | - | -€7.4m | |
| Participating interests | 280 | €7,376,800 | - | -€7.4m | |
| Other financial fixed assets | 284/8 | €4,443 | €8,036 | +€3,592 | +80.8% |
| Amounts receivable and cash guarantees | 285/8 | €4,443 | €8,036 | +€3,592 | +80.8% |
| Current assets | 29/58 | €2,481,562 | €6,331,693 | +€3.9m | +155.1% |
| Stocks and contracts in progress | 3 | €2,267,467 | €4,964,929 | +€2.7m | +119.0% |
| Stocks | 30/36 | €2,267,467 | €4,964,929 | +€2.7m | +119.0% |
| Goods purchased for resale | 34 | €2,267,467 | €4,964,929 | +€2.7m | +119.0% |
| Amounts receivable within one year | 40/41 | €182,092 | €1,201,223 | +€1.0m | +559.7% |
| Trade receivables | 40 | €149,337 | €1,167,837 | +€1.0m | +682.0% |
| Other amounts receivable | 41 | €32,755 | €33,386 | +€631 | +1.9% |
| Cash at bank and in hand | 54/58 | €1,614 | €144,308 | +€142,694 | +8839.6% |
| Deferred charges and accrued income | 490/1 | €30,389 | €21,233 | -€9,157 | -30.1% |
| Total equity and liabilities | 10/49 | €11,918,754 | €16,872,355 | +€5.0m | +41.6% |
| Equity | 10/15 | €3,309,063 | €3,211,535 | -€97,528 | -2.9% |
| Contributions | 10/11 | €1,666,000 | €1,666,000 | = | 0.0% |
| Capital | 10 | €1,666,000 | €1,666,000 | = | 0.0% |
| Issued capital | 100 | €1,666,000 | €1,666,000 | = | 0.0% |
| Reserves | 13 | €202,906 | €202,906 | = | 0.0% |
| Non-distributable reserves | 130/1 | €130,000 | €130,000 | = | 0.0% |
| Legal reserve | 130 | €130,000 | €130,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,045 | €27,045 | = | 0.0% |
| Distributable reserves | 133 | €45,861 | €45,861 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,440,156 | €1,342,628 | -€97,528 | -6.8% |
| Amounts payable | 17/49 | €8,609,691 | €13,660,820 | +€5.1m | +58.7% |
| Amounts payable after more than one year | 17 | €923,842 | €3,611,296 | +€2.7m | +290.9% |
| Financial debts | 170/4 | €923,842 | €3,611,296 | +€2.7m | +290.9% |
| Credit institutions | 173 | €923,842 | €3,611,296 | +€2.7m | +290.9% |
| Amounts payable within one year | 42/48 | €7,677,848 | €9,966,109 | +€2.3m | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €386,959 | €919,460 | +€532,501 | +137.6% |
| Financial debts | 43 | €850,000 | €1,790,022 | +€940,022 | +110.6% |
| Credit institutions | 430/8 | €850,000 | €1,790,022 | +€940,022 | +110.6% |
| Trade debts | 44 | €1,495,176 | €2,853,092 | +€1.4m | +90.8% |
| Suppliers | 440/4 | €1,495,176 | €2,853,092 | +€1.4m | +90.8% |
| Taxes, remuneration and social security | 45 | €299,894 | €698,073 | +€398,179 | +132.8% |
| Taxes | 450/3 | €117,076 | €205,720 | +€88,644 | +75.7% |
| Remuneration and social security | 454/9 | €182,818 | €492,353 | +€309,535 | +169.3% |
| Other amounts payable | 47/48 | €4,645,819 | €3,705,463 | -€940,356 | -20.2% |
| Accrued charges and deferred income | 492/3 | €8,002 | €83,415 | +€75,413 | +942.4% |
| Operating income | 70/76A | €17,030,168 | €42,010,484 | +€25.0m | +146.7% |
| Turnover | 70 | €16,708,572 | €41,639,663 | +€24.9m | +149.2% |
| Other operating income | 74 | €321,596 | €370,821 | +€49,225 | +15.3% |
| Operating charges | 60/66A | €16,574,657 | €41,585,002 | +€25.0m | +150.9% |
| Goods for resale, raw materials and consumables | 60 | €13,879,069 | €34,267,340 | +€20.4m | +146.9% |
| Purchases | 600/8 | €9,403,817 | €33,268,782 | +€23.9m | +253.8% |
| Change in stocks: decrease (increase) | 609 | €4,475,252 | €998,558 | -€3.5m | -77.7% |
| Services and other goods | 61 | €951,903 | €2,254,298 | +€1.3m | +136.8% |
| Remuneration, social security and pensions | 62 | €1,509,680 | €4,079,530 | +€2.6m | +170.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,034 | €659,182 | +€520,148 | +374.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,277 | €86,702 | +€91,978 | |
| Other operating charges | 640/8 | €100,080 | €232,107 | +€132,027 | +131.9% |
| Non-recurring operating charges | 66A | €169 | €5,843 | +€5,674 | +3357.5% |
| Operating profit (loss) | 9901 | €455,510 | €425,483 | -€30,028 | -6.6% |
| Financial income | 75/76B | €3,490 | €26,313 | +€22,823 | +654.0% |
| Recurring financial income | 75 | €3,490 | €26,313 | +€22,823 | +654.0% |
| Other financial income | 752/9 | €3,490 | €26,313 | +€22,823 | +654.0% |
| Financial charges | 65/66B | €195,957 | €414,078 | +€218,121 | +111.3% |
| Recurring financial charges | 65 | €195,957 | €414,078 | +€218,121 | +111.3% |
| Debt charges | 650 | €167,392 | €392,269 | +€224,877 | +134.3% |
| Other financial charges | 652/9 | €28,565 | €21,808 | -€6,757 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €263,043 | €37,718 | -€225,325 | -85.7% |
| Transfer from deferred taxes | 780 | €28,740 | - | -€28,740 | |
| Income taxes | 67/77 | €107,337 | €135,246 | +€27,909 | +26.0% |
| Taxes | 670/3 | €107,338 | €136,326 | +€28,988 | +27.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €1,080 | +€1,080 | +385614.3% |
| Profit (loss) for the period | 9904 | €184,446 | -€97,528 | -€281,974 | |
| Transfer from tax-exempt reserves | 789 | €86,220 | - | -€86,220 | |
| Profit (loss) for the period to be appropriated | 9905 | €270,666 | -€97,528 | -€368,194 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.