PICOLINI: 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.
PICOLINI
Largest movements
- Stocks and contracts +€8,021
up €8,021 (+17.1%), from €46,784 to €54,805
- Receivables within one year +€6,182
up €6,182 (+139.7%), from €4,425 to €10,607
- Profit (loss) carried forward +€9,649
up €9,649, from -€7,384 to €2,265
- Trade debts +€3,006
up €3,006 (+45.3%), from €6,630 to €9,636
- Tax, wage and social debts +€1,845
up €1,845 (+82.0%), from €2,249 to €4,094
- Financial income -€1,106
down €1,106 (-100.0%), from €1,106 to €0
- Taxes +€1,058
new in 2025: €1,058
- Gross operating margin +€879
up €879 (+8.5%), from €10,287 to €11,166
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 | €52,276 | €66,776 | +€14,500 | +27.7% |
| Current assets | 29/58 | €52,276 | €66,776 | +€14,500 | +27.7% |
| Stocks and contracts in progress | 3 | €46,784 | €54,805 | +€8,021 | +17.1% |
| Stocks | 30/36 | €46,784 | €54,805 | +€8,021 | +17.1% |
| Amounts receivable within one year | 40/41 | €4,425 | €10,607 | +€6,182 | +139.7% |
| Trade receivables | 40 | €4,425 | €10,607 | +€6,182 | +139.7% |
| Cash at bank and in hand | 54/58 | €903 | €1,365 | +€461 | +51.1% |
| Deferred charges and accrued income | 490/1 | €164 | - | -€164 | |
| Total equity and liabilities | 10/49 | €52,276 | €66,776 | +€14,500 | +27.7% |
| Equity | 10/15 | €11,216 | €20,865 | +€9,649 | +86.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,384 | €2,265 | +€9,649 | |
| Amounts payable | 17/49 | €41,060 | €45,911 | +€4,851 | +11.8% |
| Amounts payable within one year | 42/48 | €41,060 | €45,911 | +€4,851 | +11.8% |
| Trade debts | 44 | €6,630 | €9,636 | +€3,006 | +45.3% |
| Suppliers | 440/4 | €6,630 | €9,636 | +€3,006 | +45.3% |
| Taxes, remuneration and social security | 45 | €2,249 | €4,094 | +€1,845 | +82.0% |
| Taxes | 450/3 | €2,249 | €4,094 | +€1,845 | +82.0% |
| Other amounts payable | 47/48 | €32,181 | €32,181 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €10,287 | €11,166 | +€879 | +8.5% |
| Operating profit (loss) | 9901 | €9,900 | €10,767 | +€867 | +8.8% |
| Financial income | 75/76B | €1,106 | €0 | -€1,106 | -100.0% |
| Recurring financial income | 75 | €1,106 | €0 | -€1,106 | -100.0% |
| Financial charges | 65/66B | €139 | €60 | -€79 | -56.9% |
| Recurring financial charges | 65 | €139 | €60 | -€79 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €10,866 | €10,707 | -€160 | -1.5% |
| Income taxes | 67/77 | - | €1,058 | +€1,058 | |
| Profit (loss) for the period | 9904 | €10,866 | €9,649 | -€1,217 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,866 | €9,649 | -€1,217 | -11.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.