PICOTEC IMMO: 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 IMMO
Largest movements
- Cash -€21,272
down €21,272 (-28.7%), from €74,086 to €52,814
mainly Debts after one year (-€68,558) and Investment in fixed assets (net) (-€51,405)
- Receivables within one year -€10,177
down €10,177 (-14.2%), from €71,567 to €61,390
of which Other amounts receivable: -€7,691
- Debts after one year -€68,558
down €68,558 (-15.6%), from €439,315 to €370,757
- Other debts +€21,688
up €21,688 (+7.1%), from €307,560 to €329,248
- Reserves +€16,390
up €16,390 (+19.9%), from €82,167 to €98,557
of which Distributable reserves: +€16,390
- Tax, wage and social debts +€10,236
up €10,236 (+98.6%), from €10,381 to €20,617
- Gross operating margin -€79,439
down €79,439 (-36.3%), from €218,862 to €139,424
- Financial charges +€43,833
up €43,833 (+297.0%), from €14,759 to €58,592
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 | €936,650 | €907,710 | -€28,940 | -3.1% |
| Fixed assets | 21/28 | €788,445 | €790,870 | +€2,425 | +0.3% |
| Tangible fixed assets | 22/27 | €787,350 | €790,370 | +€3,020 | +0.4% |
| Land and buildings | 22 | €769,763 | €776,722 | +€6,959 | +0.9% |
| Plant, machinery and equipment | 23 | €17,241 | €13,648 | -€3,593 | -20.8% |
| Furniture and vehicles | 24 | €347 | €0 | -€347 | -100.0% |
| Financial fixed assets | 28 | €1,095 | €500 | -€595 | -54.3% |
| Current assets | 29/58 | €148,205 | €116,840 | -€31,364 | -21.2% |
| Amounts receivable within one year | 40/41 | €71,567 | €61,390 | -€10,177 | -14.2% |
| Trade receivables | 40 | €5,779 | €3,292 | -€2,487 | -43.0% |
| Other amounts receivable | 41 | €65,788 | €58,098 | -€7,691 | -11.7% |
| Cash at bank and in hand | 54/58 | €74,086 | €52,814 | -€21,272 | -28.7% |
| Deferred charges and accrued income | 490/1 | €2,552 | €2,636 | +€85 | +3.3% |
| Total equity and liabilities | 10/49 | €936,650 | €907,710 | -€28,940 | -3.1% |
| Equity | 10/15 | €100,767 | €117,157 | +€16,390 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82,167 | €98,557 | +€16,390 | +19.9% |
| 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 | €80,307 | €96,697 | +€16,390 | +20.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €835,883 | €790,554 | -€45,330 | -5.4% |
| Amounts payable after more than one year | 17 | €439,315 | €370,757 | -€68,558 | -15.6% |
| Financial debts | 170/4 | €439,315 | €370,757 | -€68,558 | -15.6% |
| Amounts payable within one year | 42/48 | €396,568 | €419,797 | +€23,229 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €72,277 | €68,558 | -€3,718 | -5.1% |
| Trade debts | 44 | €6,350 | €1,373 | -€4,977 | -78.4% |
| Suppliers | 440/4 | €6,350 | €1,373 | -€4,977 | -78.4% |
| Taxes, remuneration and social security | 45 | €10,381 | €20,617 | +€10,236 | +98.6% |
| Taxes | 450/3 | €10,381 | €20,617 | +€10,236 | +98.6% |
| Other amounts payable | 47/48 | €307,560 | €329,248 | +€21,688 | +7.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,898 | €48,980 | -€1,918 | -3.8% |
| Other operating charges | 640/8 | €7,847 | €8,057 | +€210 | +2.7% |
| Gross operating margin | 9900 | €218,862 | €139,424 | -€79,439 | -36.3% |
| Operating profit (loss) | 9901 | €160,117 | €82,386 | -€77,730 | -48.5% |
| Financial income | 75/76B | €5 | €113 | +€107 | +2010.5% |
| Recurring financial income | 75 | €5 | €113 | +€107 | +2010.5% |
| Financial charges | 65/66B | €14,759 | €58,592 | +€43,833 | +297.0% |
| Recurring financial charges | 65 | €14,759 | €58,592 | +€43,833 | +297.0% |
| Profit (loss) for the period before taxes | 9903 | €145,363 | €23,908 | -€121,456 | -83.6% |
| Income taxes | 67/77 | €7,491 | €7,518 | +€27 | +0.4% |
| Profit (loss) for the period | 9904 | €137,872 | €16,390 | -€121,482 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €137,872 | €16,390 | -€121,482 | -88.1% |
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 9 October 2026 via checked.be.