PICOTEC: 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.
PICOTEC
Largest movements
- Tangible fixed assets +€43,501
up €43,501 (+142%), from €30,629 to €74,130
of which Furniture and vehicles: +€34,270
- Stocks and contracts +€15,339
up €15,339 (+14.7%), from €104,537 to €119,876
- Cash +€15,337
up €15,337 (+11.2%), from €137,434 to €152,771
mainly Net result for the year (+€68,120) and Other debts (+€54,188)
- Receivables within one year +€12,413
up €12,413 (+2.0%), from €636,474 to €648,887
of which Other amounts receivable: +€24,350
- Reserves +€70,743
up €70,743 (+9.3%), from €759,198 to €829,941
- Other debts +€54,188
up €54,188 (+498%), from €10,888 to €65,076
- Tax, wage and social debts -€29,614
down €29,614 (-42.8%), from €69,157 to €39,543
of which Taxes: -€21,467
- Gross operating margin +€71,540
up €71,540 (+27.1%), from €263,869 to €335,409
- Financial charges +€54,258
up €54,258 (+6,356%), from €854 to €55,112
- Staff costs -€15,007
down €15,007 (-8.7%), from €171,892 to €156,885
- Depreciation +€5,681
up €5,681 (+33.0%), from €17,202 to €22,883
- Taxes -€4,898
down €4,898 (-14.3%), from €34,269 to €29,371
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 | €951,611 | €1,046,977 | +€95,366 | +10.0% |
| Fixed assets | 21/28 | €31,084 | €74,585 | +€43,501 | +140% |
| Tangible fixed assets | 22/27 | €30,629 | €74,130 | +€43,501 | +142% |
| Plant, machinery and equipment | 23 | €1,880 | €4,361 | +€2,481 | +132% |
| Furniture and vehicles | 24 | €19,747 | €54,017 | +€34,270 | +174% |
| Other tangible fixed assets | 26 | €9,003 | €15,752 | +€6,750 | +75.0% |
| Financial fixed assets | 28 | €455 | €455 | = | 0.0% |
| Current assets | 29/58 | €920,527 | €972,392 | +€51,865 | +5.6% |
| Stocks and contracts in progress | 3 | €104,537 | €119,876 | +€15,339 | +14.7% |
| Stocks | 30/36 | €104,537 | €119,876 | +€15,339 | +14.7% |
| Amounts receivable within one year | 40/41 | €636,474 | €648,887 | +€12,413 | +2.0% |
| Trade receivables | 40 | €317,614 | €305,677 | -€11,937 | -3.8% |
| Other amounts receivable | 41 | €318,860 | €343,210 | +€24,350 | +7.6% |
| Current investments | 50/53 | €34,064 | €34,064 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €137,434 | €152,771 | +€15,337 | +11.2% |
| Deferred charges and accrued income | 490/1 | €8,018 | €16,795 | +€8,777 | +109% |
| Total equity and liabilities | 10/49 | €951,611 | €1,046,977 | +€95,366 | +10.0% |
| Equity | 10/15 | €780,421 | €848,541 | +€68,120 | +8.7% |
| Contributions | 10/11 | €21,223 | €18,600 | -€2,623 | -12.4% |
| Reserves | 13 | €759,198 | €829,941 | +€70,743 | +9.3% |
| Distributable reserves | 133 | €759,198 | €829,941 | +€70,743 | +9.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €171,190 | €198,436 | +€27,246 | +15.9% |
| Amounts payable within one year | 42/48 | €171,190 | €198,436 | +€27,246 | +15.9% |
| Financial debts | 43 | €81 | €398 | +€317 | +389% |
| Credit institutions | 430/8 | €41 | €398 | +€357 | +862% |
| Other loans | 439 | €40 | €0 | -€40 | -100% |
| Trade debts | 44 | €91,063 | €93,418 | +€2,355 | +2.6% |
| Suppliers | 440/4 | €91,063 | €93,418 | +€2,355 | +2.6% |
| Taxes, remuneration and social security | 45 | €69,157 | €39,543 | -€29,614 | -42.8% |
| Taxes | 450/3 | €44,818 | €23,351 | -€21,467 | -47.9% |
| Remuneration and social security | 454/9 | €24,339 | €16,192 | -€8,147 | -33.5% |
| Other amounts payable | 47/48 | €10,888 | €65,076 | +€54,188 | +498% |
| Remuneration, social security and pensions | 62 | €171,892 | €156,885 | -€15,007 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,202 | €22,883 | +€5,681 | +33.0% |
| Other operating charges | 640/8 | €2,731 | €4,164 | +€1,433 | +52.5% |
| Gross operating margin | 9900 | €263,869 | €335,409 | +€71,540 | +27.1% |
| Operating profit (loss) | 9901 | €72,044 | €151,477 | +€79,432 | +110% |
| Financial income | 75/76B | €1,207 | €1,126 | -€81 | -6.7% |
| Recurring financial income | 75 | €1,207 | €1,126 | -€81 | -6.7% |
| Financial charges | 65/66B | €854 | €55,112 | +€54,258 | +6,356% |
| Recurring financial charges | 65 | €854 | €55,112 | +€54,258 | +6,356% |
| Profit (loss) for the period before taxes | 9903 | €72,398 | €97,491 | +€25,093 | +34.7% |
| Income taxes | 67/77 | €34,269 | €29,371 | -€4,898 | -14.3% |
| Profit (loss) for the period | 9904 | €38,129 | €68,120 | +€29,991 | +78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,129 | €68,120 | +€29,991 | +78.7% |
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 15 October 2026 via checked.be.