PICOBEL'EAU: 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.
PICOBEL'EAU
Largest movements
- Current investments -€150,000
down €150,000 (-37.5%), from €400,000 to €250,000
- Cash +€127,793
up €127,793 (+28.1%), from €454,299 to €582,092
mainly Current investments (+€150,000) and Depreciation (+€99,076)
- Receivables within one year +€98,773
up €98,773 (+50.8%), from €194,307 to €293,080
of which Other amounts receivable: +€92,600
- Tangible fixed assets -€33,217
down €33,217 (-8.0%), from €415,884 to €382,667
of which Furniture and vehicles: -€29,201
- Receivables after one year -€26,400
down €26,400 (-28.6%), from €92,400 to €66,000
- Profit (loss) carried forward +€31,358
up €31,358 (+2.6%), from €1.2m to €1.2m
- Tax, wage and social debts -€30,059
down €30,059 (-9.3%), from €324,130 to €294,071
of which Remuneration and social security: -€29,380
- Staff costs +€143,065
up €143,065 (+5.0%), from €2.9m to €3.0m
- Gross operating margin +€100,218
up €100,218 (+3.2%), from €3.1m to €3.2m
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 | €1,588,268 | €1,594,282 | +€6,014 | +0.4% |
| Fixed assets | 21/28 | €415,944 | €382,727 | -€33,217 | -8.0% |
| Tangible fixed assets | 22/27 | €415,884 | €382,667 | -€33,217 | -8.0% |
| Plant, machinery and equipment | 23 | €8,889 | €3,984 | -€4,904 | -55.2% |
| Furniture and vehicles | 24 | €91,441 | €62,240 | -€29,201 | -31.9% |
| Other tangible fixed assets | 26 | €315,554 | €316,443 | +€889 | +0.3% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €1,172,324 | €1,211,555 | +€39,231 | +3.3% |
| Amounts receivable after more than one year | 29 | €92,400 | €66,000 | -€26,400 | -28.6% |
| Other amounts receivable | 291 | €92,400 | €66,000 | -€26,400 | -28.6% |
| Amounts receivable within one year | 40/41 | €194,307 | €293,080 | +€98,773 | +50.8% |
| Trade receivables | 40 | €10,269 | €16,442 | +€6,173 | +60.1% |
| Other amounts receivable | 41 | €184,038 | €276,638 | +€92,600 | +50.3% |
| Current investments | 50/53 | €400,000 | €250,000 | -€150,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €454,299 | €582,092 | +€127,793 | +28.1% |
| Deferred charges and accrued income | 490/1 | €31,318 | €20,383 | -€10,935 | -34.9% |
| Total equity and liabilities | 10/49 | €1,588,268 | €1,594,282 | +€6,014 | +0.4% |
| Equity | 10/15 | €1,226,046 | €1,257,405 | +€31,358 | +2.6% |
| Contributions | 10/11 | €18,619 | €18,619 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,205,568 | €1,236,926 | +€31,358 | +2.6% |
| Amounts payable | 17/49 | €362,221 | €336,877 | -€25,344 | -7.0% |
| Amounts payable within one year | 42/48 | €362,221 | €336,877 | -€25,344 | -7.0% |
| Trade debts | 44 | €34,792 | €39,506 | +€4,715 | +13.6% |
| Suppliers | 440/4 | €34,792 | €39,506 | +€4,715 | +13.6% |
| Taxes, remuneration and social security | 45 | €324,130 | €294,071 | -€30,059 | -9.3% |
| Taxes | 450/3 | €679 | €0 | -€679 | -100.0% |
| Remuneration and social security | 454/9 | €323,450 | €294,071 | -€29,380 | -9.1% |
| Other amounts payable | 47/48 | €3,300 | €3,300 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,876,937 | €3,020,002 | +€143,065 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,972 | €99,076 | +€7,104 | +7.7% |
| Other operating charges | 640/8 | €5,835 | €2,606 | -€3,228 | -55.3% |
| Non-recurring operating charges | 66A | €655 | €39,291 | +€38,636 | +5895.8% |
| Gross operating margin | 9900 | €3,087,553 | €3,187,771 | +€100,218 | +3.2% |
| Operating profit (loss) | 9901 | €112,155 | €26,795 | -€85,359 | -76.1% |
| Financial income | 75/76B | €2,577 | €5,992 | +€3,415 | +132.5% |
| Recurring financial income | 75 | €2,577 | €5,992 | +€3,415 | +132.5% |
| Financial charges | 65/66B | €569 | €1,297 | +€728 | +127.8% |
| Recurring financial charges | 65 | €569 | €1,297 | +€728 | +127.8% |
| Profit (loss) for the period before taxes | 9903 | €114,163 | €31,490 | -€82,673 | -72.4% |
| Income taxes | 67/77 | €147 | €132 | -€15 | -10.1% |
| Profit (loss) for the period | 9904 | €114,016 | €31,358 | -€82,658 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,016 | €31,358 | -€82,658 | -72.5% |
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 8 October 2026 via checked.be.