PICOBELLO: 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.
PICOBELLO
Largest movements
- Cash -€11,635
down €11,635 (-34.1%), from €34,105 to €22,469
mainly Investment in fixed assets (net) (-€14,590) and Debts after one year (-€12,063)
- Tangible fixed assets -€7,271
down €7,271 (-6.2%), from €117,034 to €109,762
- Receivables within one year -€7,077
down €7,077 (-37.9%), from €18,673 to €11,597
of which Trade receivables: -€13,325
- Stocks and contracts -€2,617
down €2,617 (-23.6%), from €11,104 to €8,488
- Debts after one year -€12,063
down €12,063 (-16.7%), from €72,131 to €60,068
- Trade debts -€11,536
down €11,536 (-58.9%), from €19,592 to €8,056
- Profit (loss) carried forward -€2,044
down €2,044 (-20.0%), from -€10,227 to -€12,270
- Staff costs -€18,510
down €18,510 (-47.5%), from €38,994 to €20,484
- Gross operating margin -€17,062
down €17,062 (-26.3%), from €64,848 to €47,785
- Depreciation +€7,916
up €7,916 (+56.8%), from €13,946 to €21,862
- Financial charges +€2,316
up €2,316 (+58.2%), from €3,977 to €6,293
- Taxes -€1,115
down €1,115 (-64.9%), from €1,716 to €602
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 | €182,279 | €154,919 | -€27,360 | -15.0% |
| Fixed assets | 21/28 | €117,034 | €109,762 | -€7,271 | -6.2% |
| Tangible fixed assets | 22/27 | €117,034 | €109,762 | -€7,271 | -6.2% |
| Plant, machinery and equipment | 23 | €89,887 | €86,300 | -€3,587 | -4.0% |
| Furniture and vehicles | 24 | €5,684 | €4,696 | -€988 | -17.4% |
| Other tangible fixed assets | 26 | €21,463 | €18,766 | -€2,697 | -12.6% |
| Current assets | 29/58 | €65,245 | €45,157 | -€20,088 | -30.8% |
| Stocks and contracts in progress | 3 | €11,104 | €8,488 | -€2,617 | -23.6% |
| Stocks | 30/36 | €11,104 | €8,488 | -€2,617 | -23.6% |
| Amounts receivable within one year | 40/41 | €18,673 | €11,597 | -€7,077 | -37.9% |
| Trade receivables | 40 | €17,474 | €4,149 | -€13,325 | -76.3% |
| Other amounts receivable | 41 | €1,199 | €7,448 | +€6,249 | +520.9% |
| Cash at bank and in hand | 54/58 | €34,105 | €22,469 | -€11,635 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,363 | €2,603 | +€1,240 | +91.0% |
| Total equity and liabilities | 10/49 | €182,279 | €154,919 | -€27,360 | -15.0% |
| Equity | 10/15 | €74,988 | €72,945 | -€2,044 | -2.7% |
| Contributions | 10/11 | €8,705 | €8,705 | = | 0.0% |
| Reserves | 13 | €76,510 | €76,510 | = | 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% |
| Distributable reserves | 133 | €74,650 | €74,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,227 | -€12,270 | -€2,044 | -20.0% |
| Amounts payable | 17/49 | €107,290 | €81,974 | -€25,316 | -23.6% |
| Amounts payable after more than one year | 17 | €72,131 | €60,068 | -€12,063 | -16.7% |
| Financial debts | 170/4 | €72,131 | €60,068 | -€12,063 | -16.7% |
| Amounts payable within one year | 42/48 | €35,159 | €21,906 | -€13,254 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €13,760 | €12,063 | -€1,697 | -12.3% |
| Trade debts | 44 | €19,592 | €8,056 | -€11,536 | -58.9% |
| Suppliers | 440/4 | €19,592 | €8,056 | -€11,536 | -58.9% |
| Taxes, remuneration and social security | 45 | €1,807 | €1,787 | -€20 | -1.1% |
| Taxes | 450/3 | €1,188 | €1,787 | +€600 | +50.5% |
| Remuneration and social security | 454/9 | €620 | - | -€620 | |
| Non-recurring operating income | 76A | €10,003 | - | -€10,003 | |
| Remuneration, social security and pensions | 62 | €38,994 | €20,484 | -€18,510 | -47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,946 | €21,862 | +€7,916 | +56.8% |
| Other operating charges | 640/8 | €1,062 | €1,095 | +€33 | +3.1% |
| Gross operating margin | 9900 | €64,848 | €47,785 | -€17,062 | -26.3% |
| Operating profit (loss) | 9901 | €10,846 | €4,345 | -€6,501 | -59.9% |
| Financial income | 75/76B | €570 | €506 | -€64 | -11.3% |
| Recurring financial income | 75 | €570 | €506 | -€64 | -11.3% |
| Financial charges | 65/66B | €3,977 | €6,293 | +€2,316 | +58.2% |
| Recurring financial charges | 65 | €3,977 | €6,293 | +€2,316 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €7,439 | -€1,442 | -€8,881 | |
| Income taxes | 67/77 | €1,716 | €602 | -€1,115 | -64.9% |
| Profit (loss) for the period | 9904 | €5,723 | -€2,044 | -€7,766 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,723 | -€2,044 | -€7,766 |
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 5 October 2026 via checked.be.