PICCOLINI: 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.
PICCOLINI
Largest movements
- Stocks and contracts -€17,555
down €17,555 (-10.2%), from €171,905 to €154,350
- Cash +€11,048
up €11,048 (+99.5%), from €11,106 to €22,154
mainly Stocks and contracts (+€17,555) and Trade debts (+€5,905)
- Tangible fixed assets -€4,008
down €4,008 (-34.8%), from €11,508 to €7,499
of which Leasing and similar rights: -€3,219
- Receivables within one year -€2,492
down €2,492 (-87.8%), from €2,837 to €345
of which Other amounts receivable: -€2,277
- Other debts -€22,249
down €22,249 (-22.8%), from €97,423 to €75,174
- Trade debts +€5,905
up €5,905 (+54.8%), from €10,777 to €16,682
- Reserves +€3,198
up €3,198 (+5.3%), from €60,098 to €63,296
of which Distributable reserves: +€3,198
- Gross operating margin +€4,374
up €4,374 (+70.9%), from €6,170 to €10,544
- Depreciation +€3,219
up €3,219 (+408%), from €790 to €4,008
- Taxes +€657
up €657 (+44.8%), from €1,465 to €2,122
- Financial income +€360
up €360 (+62.8%), from €573 to €933
- Financial charges -€298
down €298 (-63.7%), from €468 to €170
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 | €198,526 | €185,121 | -€13,405 | -6.8% |
| Fixed assets | 21/28 | €11,508 | €7,499 | -€4,008 | -34.8% |
| Tangible fixed assets | 22/27 | €11,508 | €7,499 | -€4,008 | -34.8% |
| Land and buildings | 22 | €656 | €572 | -€84 | -12.8% |
| Plant, machinery and equipment | 23 | €1,840 | €1,134 | -€706 | -38.4% |
| Leasing and similar rights | 25 | €9,012 | €5,794 | -€3,219 | -35.7% |
| Current assets | 29/58 | €187,019 | €177,622 | -€9,397 | -5.0% |
| Stocks and contracts in progress | 3 | €171,905 | €154,350 | -€17,555 | -10.2% |
| Stocks | 30/36 | €171,905 | €154,350 | -€17,555 | -10.2% |
| Amounts receivable within one year | 40/41 | €2,837 | €345 | -€2,492 | -87.8% |
| Trade receivables | 40 | €298 | €83 | -€215 | -72.1% |
| Other amounts receivable | 41 | €2,539 | €262 | -€2,277 | -89.7% |
| Cash at bank and in hand | 54/58 | €11,106 | €22,154 | +€11,048 | +99.5% |
| Deferred charges and accrued income | 490/1 | €1,171 | €773 | -€397 | -34.0% |
| Total equity and liabilities | 10/49 | €198,526 | €185,121 | -€13,405 | -6.8% |
| Equity | 10/15 | €81,888 | €86,258 | +€4,370 | +5.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €60,098 | €63,296 | +€3,198 | +5.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €52,238 | €55,436 | +€3,198 | +6.1% |
| Profit (loss) carried forward | 14 | €3,198 | €4,370 | +€1,171 | +36.6% |
| Amounts payable | 17/49 | €116,638 | €98,863 | -€17,775 | -15.2% |
| Amounts payable within one year | 42/48 | €116,638 | €98,863 | -€17,775 | -15.2% |
| Trade debts | 44 | €10,777 | €16,682 | +€5,905 | +54.8% |
| Suppliers | 440/4 | €10,777 | €16,682 | +€5,905 | +54.8% |
| Taxes, remuneration and social security | 45 | €8,439 | €7,008 | -€1,431 | -17.0% |
| Taxes | 450/3 | €8,439 | €7,008 | -€1,431 | -17.0% |
| Other amounts payable | 47/48 | €97,423 | €75,174 | -€22,249 | -22.8% |
| Remuneration, social security and pensions | 62 | €104 | €75 | -€28 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €790 | €4,008 | +€3,219 | +408% |
| Other operating charges | 640/8 | €719 | €732 | +€13 | +1.9% |
| Gross operating margin | 9900 | €6,170 | €10,544 | +€4,374 | +70.9% |
| Operating profit (loss) | 9901 | €4,558 | €5,728 | +€1,170 | +25.7% |
| Financial income | 75/76B | €573 | €933 | +€360 | +62.8% |
| Recurring financial income | 75 | €573 | €933 | +€360 | +62.8% |
| Financial charges | 65/66B | €468 | €170 | -€298 | -63.7% |
| Recurring financial charges | 65 | €468 | €170 | -€298 | -63.7% |
| Profit (loss) for the period before taxes | 9903 | €4,663 | €6,491 | +€1,828 | +39.2% |
| Income taxes | 67/77 | €1,465 | €2,122 | +€657 | +44.8% |
| Profit (loss) for the period | 9904 | €3,198 | €4,370 | +€1,171 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,198 | €4,370 | +€1,171 | +36.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.