PICQUEUR: 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.
PICQUEUR
Largest movements
- Tangible fixed assets +€117,769
up €117,769 (+14.0%), from €843,715 to €961,485
of which Leasing and similar rights: +€127,824
- Receivables within one year +€104,878
up €104,878 (+17.2%), from €610,446 to €715,323
of which Trade receivables: +€122,697
- Cash +€34,121
up €34,121 (+7.9%), from €429,197 to €463,318
mainly Net result for the year (+€198,145) and Depreciation (+€153,949)
- Reserves +€198,145
up €198,145 (+25.1%), from €789,701 to €987,846
of which Distributable reserves: +€198,145
- Debts after one year +€27,178
up €27,178 (+12.2%), from €223,113 to €250,291
- Gross operating margin +€201,685
up €201,685 (+26.5%), from €761,755 to €963,440
- Staff costs +€64,439
up €64,439 (+16.7%), from €385,923 to €450,361
- Depreciation +€34,655
up €34,655 (+29.0%), from €119,295 to €153,949
- Taxes +€32,468
up €32,468 (+46.1%), from €70,497 to €102,966
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 | €2,400,274 | €2,636,754 | +€236,479 | +9.9% |
| Fixed assets | 21/28 | €886,514 | €998,699 | +€112,185 | +12.7% |
| Intangible fixed assets | 21 | €5,584 | - | -€5,584 | |
| Tangible fixed assets | 22/27 | €843,715 | €961,485 | +€117,769 | +14.0% |
| Land and buildings | 22 | €611,980 | €581,649 | -€30,331 | -5.0% |
| Plant, machinery and equipment | 23 | €82,385 | €76,787 | -€5,598 | -6.8% |
| Furniture and vehicles | 24 | €13,559 | €53,339 | +€39,779 | +293% |
| Leasing and similar rights | 25 | €103,264 | €231,087 | +€127,824 | +124% |
| Other tangible fixed assets | 26 | €32,528 | €18,623 | -€13,905 | -42.7% |
| Financial fixed assets | 28 | €37,214 | €37,214 | = | 0.0% |
| Current assets | 29/58 | €1,513,760 | €1,638,055 | +€124,294 | +8.2% |
| Stocks and contracts in progress | 3 | €455,000 | €453,710 | -€1,290 | -0.3% |
| Stocks | 30/36 | €455,000 | €453,710 | -€1,290 | -0.3% |
| Amounts receivable within one year | 40/41 | €610,446 | €715,323 | +€104,878 | +17.2% |
| Trade receivables | 40 | €363,492 | €486,189 | +€122,697 | +33.8% |
| Other amounts receivable | 41 | €246,954 | €229,134 | -€17,819 | -7.2% |
| Cash at bank and in hand | 54/58 | €429,197 | €463,318 | +€34,121 | +7.9% |
| Deferred charges and accrued income | 490/1 | €19,117 | €5,704 | -€13,413 | -70.2% |
| Total equity and liabilities | 10/49 | €2,400,274 | €2,636,754 | +€236,479 | +9.9% |
| Equity | 10/15 | €1,202,323 | €1,400,468 | +€198,145 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €789,701 | €987,846 | +€198,145 | +25.1% |
| Tax-exempt reserves | 132 | €126,300 | €126,300 | = | 0.0% |
| Distributable reserves | 133 | €663,401 | €861,546 | +€198,145 | +29.9% |
| Profit (loss) carried forward | 14 | €394,023 | €394,023 | = | 0.0% |
| Amounts payable | 17/49 | €1,197,951 | €1,236,285 | +€38,335 | +3.2% |
| Amounts payable after more than one year | 17 | €223,113 | €250,291 | +€27,178 | +12.2% |
| Financial debts | 170/4 | €223,113 | €250,291 | +€27,178 | +12.2% |
| Amounts payable within one year | 42/48 | €973,870 | €984,996 | +€11,126 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €384,593 | €396,374 | +€11,781 | +3.1% |
| Trade debts | 44 | €584,974 | €583,568 | -€1,407 | -0.2% |
| Suppliers | 440/4 | €584,974 | €583,568 | -€1,407 | -0.2% |
| Taxes, remuneration and social security | 45 | €566 | €4,289 | +€3,723 | +658% |
| Taxes | 450/3 | €566 | €1,960 | +€1,394 | +246% |
| Remuneration and social security | 454/9 | - | €2,329 | +€2,329 | |
| Other amounts payable | 47/48 | €3,737 | €765 | -€2,972 | -79.5% |
| Accrued charges and deferred income | 492/3 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €385,923 | €450,361 | +€64,439 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,295 | €153,949 | +€34,655 | +29.0% |
| Other operating charges | 640/8 | €9,024 | €9,536 | +€512 | +5.7% |
| Non-recurring operating charges | 66A | - | €15,969 | +€15,969 | |
| Gross operating margin | 9900 | €761,755 | €963,440 | +€201,685 | +26.5% |
| Operating profit (loss) | 9901 | €247,513 | €333,625 | +€86,111 | +34.8% |
| Financial income | 75/76B | €36 | €110 | +€74 | +209% |
| Recurring financial income | 75 | €36 | €110 | +€74 | +209% |
| Financial charges | 65/66B | €40,677 | €32,624 | -€8,053 | -19.8% |
| Recurring financial charges | 65 | €40,677 | €32,624 | -€8,053 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €206,872 | €301,111 | +€94,238 | +45.6% |
| Income taxes | 67/77 | €70,497 | €102,966 | +€32,468 | +46.1% |
| Profit (loss) for the period | 9904 | €136,375 | €198,145 | +€61,770 | +45.3% |
| Transfer from tax-exempt reserves | 789 | €105,250 | - | -€105,250 | |
| Transfer to tax-exempt reserves | 689 | €126,300 | - | -€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €115,325 | €198,145 | +€82,820 | +71.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.