PICO 2.0: 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.
PICO 2.0
Largest movements
- Cash +€5,735
up €5,735 (+621%), from €924 to €6,659
mainly Net result for the year (+€33,217) and Depreciation (+€9,432)
- Tangible fixed assets -€5,467
down €5,467 (-11.0%), from €49,718 to €44,252
of which Other tangible fixed assets: -€4,944
- Receivables within one year +€3,500
new in 2025: €3,500
- Profit (loss) carried forward +€33,217
up €33,217 (+49.5%), from -€67,126 to -€33,909
- Tax, wage and social debts -€27,823
down €27,823 (-97.4%), from €28,578 to €755
of which Remuneration and social security: -€27,431
- Accrued charges and deferred income -€1,000
no longer reported in 2025 (was €1,000)
- Gross operating margin +€79,359
up €79,359, from -€35,272 to €44,088
- Depreciation -€2,325
down €2,325 (-19.8%), from €11,756 to €9,432
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 | €92,890 | €96,596 | +€3,706 | +4.0% |
| Fixed assets | 21/28 | €89,718 | €84,252 | -€5,467 | -6.1% |
| Tangible fixed assets | 22/27 | €49,718 | €44,252 | -€5,467 | -11.0% |
| Plant, machinery and equipment | 23 | €1,227 | €979 | -€248 | -20.2% |
| Furniture and vehicles | 24 | €12,271 | €11,997 | -€275 | -2.2% |
| Other tangible fixed assets | 26 | €36,220 | €31,275 | -€4,944 | -13.7% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €3,171 | €12,344 | +€9,173 | +289% |
| Amounts receivable within one year | 40/41 | - | €3,500 | +€3,500 | |
| Other amounts receivable | 41 | - | €3,500 | +€3,500 | |
| Cash at bank and in hand | 54/58 | €924 | €6,659 | +€5,735 | +621% |
| Deferred charges and accrued income | 490/1 | €2,248 | €2,186 | -€62 | -2.8% |
| Total equity and liabilities | 10/49 | €92,890 | €96,596 | +€3,706 | +4.0% |
| Equity | 10/15 | -€16,914 | €16,303 | +€33,217 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €212 | €212 | = | 0.0% |
| Non-distributable reserves | 130/1 | €212 | €212 | = | 0.0% |
| Reserves not available under the articles | 1311 | €212 | €212 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,126 | -€33,909 | +€33,217 | +49.5% |
| Amounts payable | 17/49 | €109,803 | €80,293 | -€29,511 | -26.9% |
| Amounts payable within one year | 42/48 | €108,803 | €80,293 | -€28,511 | -26.2% |
| Trade debts | 44 | €1,107 | €280 | -€827 | -74.7% |
| Suppliers | 440/4 | €1,107 | €280 | -€827 | -74.7% |
| Taxes, remuneration and social security | 45 | €28,578 | €755 | -€27,823 | -97.4% |
| Taxes | 450/3 | €1,147 | €755 | -€392 | -34.2% |
| Remuneration and social security | 454/9 | €27,431 | - | -€27,431 | |
| Other amounts payable | 47/48 | €79,118 | €79,257 | +€140 | +0.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,756 | €9,432 | -€2,325 | -19.8% |
| Other operating charges | 640/8 | €518 | €730 | +€212 | +40.9% |
| Gross operating margin | 9900 | -€35,272 | €44,088 | +€79,359 | |
| Operating profit (loss) | 9901 | -€47,546 | €33,926 | +€81,472 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €93 | €417 | +€325 | +351% |
| Recurring financial charges | 65 | €93 | €417 | +€325 | +351% |
| Profit (loss) for the period before taxes | 9903 | -€47,638 | €33,511 | +€81,149 | |
| Income taxes | 67/77 | €632 | €294 | -€338 | -53.5% |
| Profit (loss) for the period | 9904 | -€48,271 | €33,217 | +€81,488 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,271 | €33,217 | +€81,488 |
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 17 October 2026 via checked.be.