Picas-10: 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.
Picas-10
Largest movements
- Cash -€4,032
down €4,032 (-94.7%), from €4,258 to €225
mainly Net result for the year (-€6,364) and Receivables within one year (-€2,247)
- Receivables within one year +€2,247
up €2,247 (+78.8%), from €2,850 to €5,098
of which Other amounts receivable: +€3,728
- Tangible fixed assets -€1,703
down €1,703 (-12.7%), from €13,392 to €11,689
of which Other tangible fixed assets: -€1,160
- Deferred charges and accrued income -€262
down €262 (-20.2%), from €1,297 to €1,036
- Reserves -€6,364
down €6,364 (-65.6%), from €9,698 to €3,334
- Tax, wage and social debts +€3,355
up €3,355 (+245.2%), from €1,369 to €4,724
of which Remuneration and social security: +€3,091
- Other debts -€1,607
down €1,607 (-48.9%), from €3,285 to €1,678
- Trade debts +€865
up €865 (+19.5%), from €4,446 to €5,311
- Gross operating margin -€14,254
down €14,254 (-93.8%), from €15,196 to €943
- Taxes -€1,089
down €1,089 (-81.2%), from €1,340 to €251
- Financial charges -€458
down €458 (-11.4%), from €4,026 to €3,568
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 | €21,797 | €18,048 | -€3,750 | -17.2% |
| Fixed assets | 21/28 | €13,392 | €11,689 | -€1,703 | -12.7% |
| Tangible fixed assets | 22/27 | €13,392 | €11,689 | -€1,703 | -12.7% |
| Plant, machinery and equipment | 23 | €54 | €0 | -€54 | -100.0% |
| Furniture and vehicles | 24 | €2,442 | €1,954 | -€489 | -20.0% |
| Other tangible fixed assets | 26 | €10,896 | €9,736 | -€1,160 | -10.6% |
| Current assets | 29/58 | €8,405 | €6,359 | -€2,047 | -24.3% |
| Amounts receivable within one year | 40/41 | €2,850 | €5,098 | +€2,247 | +78.8% |
| Trade receivables | 40 | €2,648 | €1,167 | -€1,481 | -55.9% |
| Other amounts receivable | 41 | €202 | €3,930 | +€3,728 | +1844.9% |
| Cash at bank and in hand | 54/58 | €4,258 | €225 | -€4,032 | -94.7% |
| Deferred charges and accrued income | 490/1 | €1,297 | €1,036 | -€262 | -20.2% |
| Total equity and liabilities | 10/49 | €21,797 | €18,048 | -€3,750 | -17.2% |
| Equity | 10/15 | €12,698 | €6,334 | -€6,364 | -50.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,698 | €3,334 | -€6,364 | -65.6% |
| Distributable reserves | 133 | €9,698 | €3,334 | -€6,364 | -65.6% |
| Amounts payable | 17/49 | €9,099 | €11,713 | +€2,614 | +28.7% |
| Amounts payable within one year | 42/48 | €9,099 | €11,713 | +€2,614 | +28.7% |
| Trade debts | 44 | €4,446 | €5,311 | +€865 | +19.5% |
| Suppliers | 440/4 | €4,446 | €5,311 | +€865 | +19.5% |
| Taxes, remuneration and social security | 45 | €1,369 | €4,724 | +€3,355 | +245.2% |
| Taxes | 450/3 | €1,369 | €1,633 | +€265 | +19.3% |
| Remuneration and social security | 454/9 | - | €3,091 | +€3,091 | |
| Other amounts payable | 47/48 | €3,285 | €1,678 | -€1,607 | -48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,459 | €2,405 | -€54 | -2.2% |
| Other operating charges | 640/8 | €1,064 | €1,082 | +€18 | +1.7% |
| Gross operating margin | 9900 | €15,196 | €943 | -€14,254 | -93.8% |
| Operating profit (loss) | 9901 | €11,674 | -€2,545 | -€14,218 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,026 | €3,568 | -€458 | -11.4% |
| Recurring financial charges | 65 | €4,026 | €3,568 | -€458 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €7,648 | -€6,112 | -€13,760 | |
| Income taxes | 67/77 | €1,340 | €251 | -€1,089 | -81.2% |
| Profit (loss) for the period | 9904 | €6,308 | -€6,364 | -€12,672 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,308 | -€6,364 | -€12,672 |
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 3 October 2026 via checked.be.