PICASSART: 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.
PICASSART
Largest movements
- Receivables within one year -€102,552
down €102,552 (-90.2%), from €113,631 to €11,079
of which Other amounts receivable: -€103,536
- Intangible fixed assets -€10,055
down €10,055 (-20.4%), from €49,330 to €39,275
- Formation expenses -€3,277
down €3,277 (-100%), from €3,277 to €0
- Profit (loss) carried forward -€134,710
down €134,710, from €3,376 to -€131,334
- Trade debts -€56,349
down €56,349 (-93.2%), from €60,482 to €4,133
- Debts after one year +€30,186
new in 2025: €30,186
- Tax, wage and social debts +€16,331
up €16,331 (+14,310%), from €114 to €16,445
of which Remuneration and social security: +€13,156
- Current portion of long-term debt +€14,814
new in 2025: €14,814
- Gross operating margin -€57,759
down €57,759 (-540%), from -€10,698 to -€68,457
- Staff costs +€48,487
new in 2025: €48,487
- Depreciation +€12,599
up €12,599 (+969%), from €1,300 to €13,900
- Financial charges +€2,316
up €2,316 (+276%), from €840 to €3,156
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.
Derived cash bridge
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 | €180,172 | €65,039 | -€115,133 | -63.9% |
| Formation expenses | 20 | €3,277 | €0 | -€3,277 | -100% |
| Fixed assets | 21/28 | €50,770 | €41,861 | -€8,909 | -17.5% |
| Intangible fixed assets | 21 | €49,330 | €39,275 | -€10,055 | -20.4% |
| Tangible fixed assets | 22/27 | €1,440 | €2,376 | +€936 | +65.0% |
| Furniture and vehicles | 24 | €1,440 | €2,376 | +€936 | +65.0% |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €126,125 | €23,178 | -€102,947 | -81.6% |
| Stocks and contracts in progress | 3 | €11,228 | €11,228 | = | 0.0% |
| Stocks | 30/36 | €11,228 | €11,228 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €113,631 | €11,079 | -€102,552 | -90.2% |
| Trade receivables | 40 | €95 | €1,079 | +€984 | +1,036% |
| Other amounts receivable | 41 | €113,536 | €10,000 | -€103,536 | -91.2% |
| Cash at bank and in hand | 54/58 | €644 | €871 | +€227 | +35.2% |
| Deferred charges and accrued income | 490/1 | €622 | €0 | -€622 | -100% |
| Total equity and liabilities | 10/49 | €180,172 | €65,039 | -€115,133 | -63.9% |
| Equity | 10/15 | €109,576 | -€25,134 | -€134,710 | |
| Contributions | 10/11 | €106,200 | €106,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,376 | -€131,334 | -€134,710 | |
| Amounts payable | 17/49 | €70,596 | €90,173 | +€19,577 | +27.7% |
| Amounts payable after more than one year | 17 | - | €30,186 | +€30,186 | |
| Financial debts | 170/4 | - | €30,186 | +€30,186 | |
| Amounts payable within one year | 42/48 | €70,596 | €59,477 | -€11,119 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | - | €14,814 | +€14,814 | |
| Trade debts | 44 | €60,482 | €4,133 | -€56,349 | -93.2% |
| Suppliers | 440/4 | €60,482 | €4,133 | -€56,349 | -93.2% |
| Taxes, remuneration and social security | 45 | €114 | €16,445 | +€16,331 | +14,310% |
| Taxes | 450/3 | €114 | €3,288 | +€3,174 | +2,782% |
| Remuneration and social security | 454/9 | - | €13,156 | +€13,156 | |
| Other amounts payable | 47/48 | €10,000 | €24,085 | +€14,085 | +141% |
| Accrued charges and deferred income | 492/3 | - | €510 | +€510 | |
| Remuneration, social security and pensions | 62 | - | €48,487 | +€48,487 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,300 | €13,900 | +€12,599 | +969% |
| Other operating charges | 640/8 | €975 | €711 | -€265 | -27.1% |
| Gross operating margin | 9900 | -€10,698 | -€68,457 | -€57,759 | -540% |
| Operating profit (loss) | 9901 | -€12,974 | -€131,554 | -€118,580 | -914% |
| Financial charges | 65/66B | €840 | €3,156 | +€2,316 | +276% |
| Recurring financial charges | 65 | €840 | €3,156 | +€2,316 | +276% |
| Profit (loss) for the period before taxes | 9903 | -€13,814 | -€134,710 | -€120,896 | -875% |
| Profit (loss) for the period | 9904 | -€13,814 | -€134,710 | -€120,896 | -875% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,814 | -€134,710 | -€120,896 | -875% |
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 18 October 2026 via checked.be.