PICARDI: 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.
PICARDI
Largest movements
- Tangible fixed assets -€25,174
down €25,174 (-20.2%), from €124,677 to €99,503
- Cash +€11,353
up €11,353 (+111.7%), from €10,160 to €21,513
mainly Net result for the year (+€29,635) and Depreciation (+€25,174)
- Receivables within one year +€7,023
up €7,023 (+9.1%), from €77,107 to €84,130
of which Trade receivables: +€4,184
- Profit (loss) carried forward +€29,635
up €29,635 (+87.6%), from €33,849 to €63,483
- Trade debts -€16,419
down €16,419 (-20.1%), from €81,843 to €65,424
- Debts after one year -€15,077
down €15,077 (-79.7%), from €18,916 to €3,839
- Other debts -€3,750
down €3,750 (-38.7%), from €9,693 to €5,943
- Tax, wage and social debts -€3,517
down €3,517 (-9.5%), from €37,194 to €33,677
of which Remuneration and social security: -€4,013
- Gross operating margin +€92,018
up €92,018 (+81.4%), from €113,097 to €205,115
- Staff costs +€22,157
up €22,157 (+19.2%), from €115,701 to €137,858
- Taxes +€5,921
up €5,921 (+3068.7%), from €193 to €6,114
- Depreciation +€4,369
up €4,369 (+21.0%), from €20,805 to €25,174
- Other operating charges +€2,459
up €2,459 (+129.0%), from €1,905 to €4,364
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €220,295 | €211,377 | -€8,918 | -4.0% |
| Fixed assets | 21/28 | €125,371 | €100,196 | -€25,174 | -20.1% |
| Tangible fixed assets | 22/27 | €124,677 | €99,503 | -€25,174 | -20.2% |
| Plant, machinery and equipment | 23 | €53,556 | €46,344 | -€7,211 | -13.5% |
| Furniture and vehicles | 24 | €28,996 | €16,596 | -€12,401 | -42.8% |
| Other tangible fixed assets | 26 | €42,125 | €36,563 | -€5,562 | -13.2% |
| Financial fixed assets | 28 | €694 | €694 | = | 0.0% |
| Current assets | 29/58 | €94,925 | €111,181 | +€16,256 | +17.1% |
| Amounts receivable within one year | 40/41 | €77,107 | €84,130 | +€7,023 | +9.1% |
| Trade receivables | 40 | €62,846 | €67,030 | +€4,184 | +6.7% |
| Other amounts receivable | 41 | €14,261 | €17,100 | +€2,839 | +19.9% |
| Cash at bank and in hand | 54/58 | €10,160 | €21,513 | +€11,353 | +111.7% |
| Deferred charges and accrued income | 490/1 | €7,658 | €5,538 | -€2,119 | -27.7% |
| Total equity and liabilities | 10/49 | €220,295 | €211,377 | -€8,918 | -4.0% |
| Equity | 10/15 | €52,449 | €82,083 | +€29,635 | +56.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,849 | €63,483 | +€29,635 | +87.6% |
| Amounts payable | 17/49 | €167,847 | €129,294 | -€38,553 | -23.0% |
| Amounts payable after more than one year | 17 | €18,916 | €3,839 | -€15,077 | -79.7% |
| Financial debts | 170/4 | €18,916 | €3,839 | -€15,077 | -79.7% |
| Amounts payable within one year | 42/48 | €148,931 | €125,455 | -€23,476 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €14,673 | €15,077 | +€404 | +2.8% |
| Financial debts | 43 | €2,278 | €2,084 | -€194 | -8.5% |
| Credit institutions | 430/8 | €2,278 | €2,084 | -€194 | -8.5% |
| Trade debts | 44 | €81,843 | €65,424 | -€16,419 | -20.1% |
| Suppliers | 440/4 | €81,843 | €65,424 | -€16,419 | -20.1% |
| Advances received on contracts in progress | 46 | €3,250 | €3,250 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €37,194 | €33,677 | -€3,517 | -9.5% |
| Taxes | 450/3 | €17,370 | €17,866 | +€496 | +2.9% |
| Remuneration and social security | 454/9 | €19,824 | €15,811 | -€4,013 | -20.2% |
| Other amounts payable | 47/48 | €9,693 | €5,943 | -€3,750 | -38.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,166 | €0 | -€1,166 | -100.0% |
| Remuneration, social security and pensions | 62 | €115,701 | €137,858 | +€22,157 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,805 | €25,174 | +€4,369 | +21.0% |
| Other operating charges | 640/8 | €1,905 | €4,364 | +€2,459 | +129.0% |
| Gross operating margin | 9900 | €113,097 | €205,115 | +€92,018 | +81.4% |
| Operating profit (loss) | 9901 | -€25,314 | €37,719 | +€63,033 | |
| Financial income | 75/76B | €2,245 | €858 | -€1,387 | -61.8% |
| Recurring financial income | 75 | €2,245 | €858 | -€1,387 | -61.8% |
| Financial charges | 65/66B | €2,810 | €2,827 | +€18 | +0.6% |
| Recurring financial charges | 65 | €2,810 | €2,827 | +€18 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,879 | €35,749 | +€61,628 | |
| Income taxes | 67/77 | €193 | €6,114 | +€5,921 | +3068.7% |
| Profit (loss) for the period | 9904 | -€26,072 | €29,635 | +€55,706 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,072 | €29,635 | +€55,706 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.