PICENO: 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.
PICENO
Largest movements
- Intangible fixed assets -€8,000
down €8,000 (-30.8%), from €26,000 to €18,000
- Cash +€3,961
up €3,961 (+92.5%), from €4,280 to €8,241
mainly Depreciation (+€10,547) and Trade debts (+€10,490)
- Stocks and contracts +€3,500
up €3,500 (+70.0%), from €5,000 to €8,500
- Tangible fixed assets +€3,298
up €3,298 (+120.4%), from €2,738 to €6,036
of which Plant, machinery and equipment: +€4,386
- Receivables within one year +€1,307
up €1,307 (+6.7%), from €19,568 to €20,874
- Trade debts +€10,490
up €10,490 (+123.7%), from €8,482 to €18,972
- Tax, wage and social debts -€5,354
down €5,354 (-20.3%), from €26,376 to €21,022
of which Taxes: -€2,854
- Reserves -€1,076
down €1,076 (-3.8%), from €28,184 to €27,108
- Financial charges +€21,125
up €21,125 (+556.2%), from €3,798 to €24,923
of which Non-recurring financial charges: +€20,150
- Other operating charges +€1,991
up €1,991 (+32.0%), from €6,227 to €8,219
- Taxes -€1,461
down €1,461 (-33.5%), from €4,357 to €2,896
- Gross operating margin +€1,091
up €1,091 (+2.5%), from €43,333 to €44,425
- Financial income +€1,085
new in 2025: €1,085
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 | €68,042 | €72,102 | +€4,060 | +6.0% |
| Fixed assets | 21/28 | €39,088 | €34,386 | -€4,702 | -12.0% |
| Intangible fixed assets | 21 | €26,000 | €18,000 | -€8,000 | -30.8% |
| Tangible fixed assets | 22/27 | €2,738 | €6,036 | +€3,298 | +120.4% |
| Plant, machinery and equipment | 23 | €1,100 | €5,485 | +€4,386 | +398.7% |
| Furniture and vehicles | 24 | €1,638 | €551 | -€1,088 | -66.4% |
| Financial fixed assets | 28 | €10,350 | €10,350 | = | 0.0% |
| Current assets | 29/58 | €28,954 | €37,716 | +€8,762 | +30.3% |
| Stocks and contracts in progress | 3 | €5,000 | €8,500 | +€3,500 | +70.0% |
| Stocks | 30/36 | €5,000 | €8,500 | +€3,500 | +70.0% |
| Amounts receivable within one year | 40/41 | €19,568 | €20,874 | +€1,307 | +6.7% |
| Other amounts receivable | 41 | €19,568 | €20,874 | +€1,307 | +6.7% |
| Cash at bank and in hand | 54/58 | €4,280 | €8,241 | +€3,961 | +92.5% |
| Deferred charges and accrued income | 490/1 | €107 | €101 | -€6 | -5.3% |
| Total equity and liabilities | 10/49 | €68,042 | €72,102 | +€4,060 | +6.0% |
| Equity | 10/15 | €33,184 | €32,108 | -€1,076 | -3.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €28,184 | €27,108 | -€1,076 | -3.8% |
| Distributable reserves | 133 | €28,184 | €27,108 | -€1,076 | -3.8% |
| Amounts payable | 17/49 | €34,858 | €39,994 | +€5,136 | +14.7% |
| Amounts payable within one year | 42/48 | €34,858 | €39,994 | +€5,136 | +14.7% |
| Trade debts | 44 | €8,482 | €18,972 | +€10,490 | +123.7% |
| Suppliers | 440/4 | €8,482 | €18,972 | +€10,490 | +123.7% |
| Taxes, remuneration and social security | 45 | €26,376 | €21,022 | -€5,354 | -20.3% |
| Taxes | 450/3 | €23,876 | €21,022 | -€2,854 | -12.0% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Non-recurring operating income | 76A | €12,450 | - | -€12,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,723 | €10,547 | +€825 | +8.5% |
| Other operating charges | 640/8 | €6,227 | €8,219 | +€1,991 | +32.0% |
| Gross operating margin | 9900 | €43,333 | €44,425 | +€1,091 | +2.5% |
| Operating profit (loss) | 9901 | €27,383 | €25,658 | -€1,725 | -6.3% |
| Financial income | 75/76B | - | €1,085 | +€1,085 | |
| Recurring financial income | 75 | - | €1,085 | +€1,085 | |
| Financial charges | 65/66B | €3,798 | €24,923 | +€21,125 | +556.2% |
| Recurring financial charges | 65 | €3,798 | €4,773 | +€975 | +25.7% |
| Non-recurring financial charges | 66B | - | €20,150 | +€20,150 | |
| Profit (loss) for the period before taxes | 9903 | €23,585 | €1,820 | -€21,765 | -92.3% |
| Income taxes | 67/77 | €4,357 | €2,896 | -€1,461 | -33.5% |
| Profit (loss) for the period | 9904 | €19,228 | -€1,076 | -€20,304 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,228 | -€1,076 | -€20,304 |
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 29 September 2026 via checked.be.