Piccard: 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.
Piccard
Largest movements
- Cash +€98,421
up €98,421 (+111.7%), from €88,131 to €186,552
mainly Other debts (+€79,753) and Receivables within one year (+€44,424)
- Receivables within one year -€44,424
down €44,424 (-41.0%), from €108,256 to €63,832
of which Trade receivables: -€35,237
- Tangible fixed assets -€17,023
down €17,023 (-39.9%), from €42,653 to €25,630
of which Furniture and vehicles: -€16,225
- Other debts +€79,753
up €79,753 (+2144.4%), from €3,719 to €83,472
- Reserves -€53,019
down €53,019 (-25.9%), from €204,908 to €151,889
- Tax, wage and social debts +€12,121
up €12,121 (+122.8%), from €9,869 to €21,990
of which Taxes: +€14,280
- Gross operating margin +€22,265
up €22,265 (+41.1%), from €54,215 to €76,480
- Taxes +€6,309
up €6,309 (+58.9%), from €10,710 to €17,019
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 | €240,927 | €277,643 | +€36,716 | +15.2% |
| Fixed assets | 21/28 | €42,653 | €25,630 | -€17,023 | -39.9% |
| Tangible fixed assets | 22/27 | €42,653 | €25,630 | -€17,023 | -39.9% |
| Plant, machinery and equipment | 23 | €1,062 | €265 | -€798 | -75.1% |
| Furniture and vehicles | 24 | €41,591 | €25,366 | -€16,225 | -39.0% |
| Current assets | 29/58 | €198,274 | €252,013 | +€53,739 | +27.1% |
| Amounts receivable within one year | 40/41 | €108,256 | €63,832 | -€44,424 | -41.0% |
| Trade receivables | 40 | €98,762 | €63,525 | -€35,237 | -35.7% |
| Other amounts receivable | 41 | €9,494 | €307 | -€9,187 | -96.8% |
| Cash at bank and in hand | 54/58 | €88,131 | €186,552 | +€98,421 | +111.7% |
| Deferred charges and accrued income | 490/1 | €1,887 | €1,629 | -€258 | -13.7% |
| Total equity and liabilities | 10/49 | €240,927 | €277,643 | +€36,716 | +15.2% |
| Equity | 10/15 | €223,508 | €170,489 | -€53,019 | -23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €204,908 | €151,889 | -€53,019 | -25.9% |
| Distributable reserves | 133 | €204,908 | €151,889 | -€53,019 | -25.9% |
| Amounts payable | 17/49 | €17,419 | €107,154 | +€89,735 | +515.1% |
| Amounts payable within one year | 42/48 | €16,740 | €106,063 | +€89,323 | +533.6% |
| Trade debts | 44 | €3,152 | €601 | -€2,552 | -80.9% |
| Suppliers | 440/4 | €3,152 | €601 | -€2,552 | -80.9% |
| Taxes, remuneration and social security | 45 | €9,869 | €21,990 | +€12,121 | +122.8% |
| Taxes | 450/3 | €7,710 | €21,990 | +€14,280 | +185.2% |
| Remuneration and social security | 454/9 | €2,159 | - | -€2,159 | |
| Other amounts payable | 47/48 | €3,719 | €83,472 | +€79,753 | +2144.4% |
| Accrued charges and deferred income | 492/3 | €679 | €1,091 | +€412 | +60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,957 | €17,023 | +€67 | +0.4% |
| Other operating charges | 640/8 | €666 | €749 | +€83 | +12.5% |
| Gross operating margin | 9900 | €54,215 | €76,480 | +€22,265 | +41.1% |
| Operating profit (loss) | 9901 | €36,592 | €58,708 | +€22,116 | +60.4% |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €217 | €450 | +€233 | +107.1% |
| Recurring financial charges | 65 | €217 | €450 | +€233 | +107.1% |
| Profit (loss) for the period before taxes | 9903 | €36,375 | €58,300 | +€21,925 | +60.3% |
| Income taxes | 67/77 | €10,710 | €17,019 | +€6,309 | +58.9% |
| Profit (loss) for the period | 9904 | €25,665 | €41,281 | +€15,616 | +60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,665 | €41,281 | +€15,616 | +60.8% |
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.