PICARD immo: 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.
PICARD immo
Largest movements
- Cash +€144,810
up €144,810 (+257.0%), from €56,338 to €201,149
mainly Other debts (+€229,674) and Debts after one year (+€51,549)
- Receivables within one year +€143,038
up €143,038 (+31.8%), from €449,341 to €592,380
of which Other amounts receivable: +€134,523
- Deferred charges and accrued income +€26,993
up €26,993 (+673.8%), from €4,006 to €30,999
- Other debts +€229,674
up €229,674 (+413.0%), from €55,614 to €285,288
- Debts after one year +€51,549
up €51,549 (+39.8%), from €129,645 to €181,194
- Trade debts -€25,416
down €25,416 (-49.7%), from €51,115 to €25,699
- Reserves +€20,000
up €20,000 (+4.8%), from €420,000 to €440,000
of which Distributable reserves: +€20,000
- Current portion of long-term debt +€13,440
up €13,440 (+134.3%), from €10,010 to €23,451
- Financial income -€68,356
down €68,356 (-65.0%), from €105,097 to €36,741
- Gross operating margin +€61,374
up €61,374 (+37.6%), from €163,067 to €224,442
- Staff costs +€34,915
up €34,915 (+29.3%), from €119,105 to €154,019
- Other operating charges +€23,616
up €23,616 (+750.1%), from €3,148 to €26,764
- Financial charges +€13,415
up €13,415 (+171.4%), from €7,825 to €21,240
of which Financial charges: +€7,414
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 | €713,932 | €1,013,041 | +€299,109 | +41.9% |
| Fixed assets | 21/28 | €204,247 | €188,062 | -€16,185 | -7.9% |
| Intangible fixed assets | 21 | €36,387 | €29,067 | -€7,320 | -20.1% |
| Tangible fixed assets | 22/27 | €155,965 | €153,100 | -€2,865 | -1.8% |
| Land and buildings | 22 | €134,037 | €127,074 | -€6,963 | -5.2% |
| Plant, machinery and equipment | 23 | €4,795 | €5,873 | +€1,078 | +22.5% |
| Furniture and vehicles | 24 | €17,133 | €20,153 | +€3,020 | +17.6% |
| Financial fixed assets | 28 | €11,896 | €5,896 | -€6,000 | -50.4% |
| Current assets | 29/58 | €509,685 | €824,979 | +€315,293 | +61.9% |
| Stocks and contracts in progress | 3 | - | €451 | +€451 | |
| Stocks | 30/36 | - | €451 | +€451 | |
| Amounts receivable within one year | 40/41 | €449,341 | €592,380 | +€143,038 | +31.8% |
| Trade receivables | 40 | €21,652 | €30,167 | +€8,515 | +39.3% |
| Other amounts receivable | 41 | €427,689 | €562,212 | +€134,523 | +31.5% |
| Cash at bank and in hand | 54/58 | €56,338 | €201,149 | +€144,810 | +257.0% |
| Deferred charges and accrued income | 490/1 | €4,006 | €30,999 | +€26,993 | +673.8% |
| Total equity and liabilities | 10/49 | €713,932 | €1,013,041 | +€299,109 | +41.9% |
| Equity | 10/15 | €440,812 | €459,768 | +€18,956 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €420,000 | €440,000 | +€20,000 | +4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €418,140 | €438,140 | +€20,000 | +4.8% |
| Profit (loss) carried forward | 14 | €2,212 | €1,168 | -€1,044 | -47.2% |
| Amounts payable | 17/49 | €273,121 | €553,273 | +€280,153 | +102.6% |
| Amounts payable after more than one year | 17 | €129,645 | €181,194 | +€51,549 | +39.8% |
| Financial debts | 170/4 | €129,645 | €181,194 | +€51,549 | +39.8% |
| Amounts payable within one year | 42/48 | €143,065 | €368,849 | +€225,783 | +157.8% |
| Current portion of amounts payable after more than one year | 42 | €10,010 | €23,451 | +€13,440 | +134.3% |
| Trade debts | 44 | €51,115 | €25,699 | -€25,416 | -49.7% |
| Suppliers | 440/4 | €51,115 | €25,699 | -€25,416 | -49.7% |
| Taxes, remuneration and social security | 45 | €26,326 | €34,411 | +€8,086 | +30.7% |
| Taxes | 450/3 | €11,566 | €15,857 | +€4,292 | +37.1% |
| Remuneration and social security | 454/9 | €14,760 | €18,554 | +€3,794 | +25.7% |
| Other amounts payable | 47/48 | €55,614 | €285,288 | +€229,674 | +413.0% |
| Accrued charges and deferred income | 492/3 | €410 | €3,230 | +€2,820 | +687.8% |
| Non-recurring operating income | 76A | €1,619 | €2,738 | +€1,118 | +69.0% |
| Remuneration, social security and pensions | 62 | €119,105 | €154,019 | +€34,915 | +29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,914 | €30,125 | +€10,211 | +51.3% |
| Other operating charges | 640/8 | €3,148 | €26,764 | +€23,616 | +750.1% |
| Non-recurring operating charges | 66A | €157 | €56 | -€101 | -64.1% |
| Gross operating margin | 9900 | €163,067 | €224,442 | +€61,374 | +37.6% |
| Operating profit (loss) | 9901 | €20,743 | €13,477 | -€7,266 | -35.0% |
| Financial income | 75/76B | €105,097 | €36,741 | -€68,356 | -65.0% |
| Recurring financial income | 75 | €105,097 | €36,741 | -€68,356 | -65.0% |
| Financial charges | 65/66B | €7,825 | €21,240 | +€13,415 | +171.4% |
| Recurring financial charges | 65 | €7,825 | €15,239 | +€7,414 | +94.7% |
| Non-recurring financial charges | 66B | - | €6,001 | +€6,001 | |
| Profit (loss) for the period before taxes | 9903 | €118,015 | €28,978 | -€89,037 | -75.4% |
| Income taxes | 67/77 | €9,029 | €10,022 | +€993 | +11.0% |
| Profit (loss) for the period | 9904 | €108,987 | €18,956 | -€90,031 | -82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,987 | €18,956 | -€90,031 | -82.6% |
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 11 October 2026 via checked.be.