PICSTRO: 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.
PICSTRO
Largest movements
- Tangible fixed assets -€29,885
down €29,885 (-4.8%), from €624,327 to €594,442
of which Land and buildings: -€41,107
- Cash +€29,146
up €29,146 (+46.0%), from €63,320 to €92,466
mainly Depreciation (+€51,393) and Other debts (+€17,370)
- Receivables within one year +€9,026
up €9,026 (+106.2%), from €8,497 to €17,523
of which Trade receivables: +€4,591
- Other debts +€17,370
up €17,370 (+8.9%), from €194,982 to €212,352
- Reserves -€17,125
down €17,125 (-16.7%), from €102,368 to €85,244
of which Distributable reserves: -€16,470
- Tax, wage and social debts -€15,705
down €15,705 (-92.2%), from €17,026 to €1,322
of which Taxes: -€8,705
- Trade debts +€13,590
up €13,590 (+78.8%), from €17,252 to €30,842
- Gross operating margin +€34,144
up €34,144 (+32.5%), from €104,984 to €139,128
- Taxes +€7,047
up €7,047, from €0 to €7,047
- Other operating charges -€5,098
down €5,098 (-8.3%), from €61,557 to €56,459
- Depreciation +€4,050
up €4,050 (+8.6%), from €47,343 to €51,393
- Financial charges -€1,979
down €1,979 (-13.7%), from €14,398 to €12,418
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 | €703,502 | €707,265 | +€3,763 | +0.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €624,327 | €594,442 | -€29,885 | -4.8% |
| Tangible fixed assets | 22/27 | €624,327 | €594,442 | -€29,885 | -4.8% |
| Land and buildings | 22 | €599,283 | €558,176 | -€41,107 | -6.9% |
| Plant, machinery and equipment | 23 | €25,044 | €36,266 | +€11,222 | +44.8% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €79,175 | €112,823 | +€33,648 | +42.5% |
| Amounts receivable within one year | 40/41 | €8,497 | €17,523 | +€9,026 | +106.2% |
| Trade receivables | 40 | €3,459 | €8,050 | +€4,591 | +132.7% |
| Other amounts receivable | 41 | €5,038 | €9,473 | +€4,434 | +88.0% |
| Cash at bank and in hand | 54/58 | €63,320 | €92,466 | +€29,146 | +46.0% |
| Deferred charges and accrued income | 490/1 | €7,358 | €2,834 | -€4,523 | -61.5% |
| Total equity and liabilities | 10/49 | €703,502 | €707,265 | +€3,763 | +0.5% |
| Equity | 10/15 | €455,124 | €437,999 | -€17,125 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €102,368 | €85,244 | -€17,125 | -16.7% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,654 | €11,000 | -€654 | -5.6% |
| Distributable reserves | 133 | €60,714 | €44,244 | -€16,470 | -27.1% |
| Profit (loss) carried forward | 14 | €290,755 | €290,755 | = | 0.0% |
| Provisions and deferred taxes | 16 | €3,885 | €3,667 | -€218 | -5.6% |
| Deferred taxes | 168 | €3,885 | €3,667 | -€218 | -5.6% |
| Amounts payable | 17/49 | €244,494 | €265,599 | +€21,106 | +8.6% |
| Amounts payable within one year | 42/48 | €230,140 | €245,395 | +€15,255 | +6.6% |
| Trade debts | 44 | €17,252 | €30,842 | +€13,590 | +78.8% |
| Suppliers | 440/4 | €17,252 | €30,842 | +€13,590 | +78.8% |
| Advances received on contracts in progress | 46 | €880 | €880 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,026 | €1,322 | -€15,705 | -92.2% |
| Taxes | 450/3 | €10,026 | €1,322 | -€8,705 | -86.8% |
| Remuneration and social security | 454/9 | €7,000 | €0 | -€7,000 | -100.0% |
| Other amounts payable | 47/48 | €194,982 | €212,352 | +€17,370 | +8.9% |
| Accrued charges and deferred income | 492/3 | €14,353 | €20,204 | +€5,850 | +40.8% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,343 | €51,393 | +€4,050 | +8.6% |
| Other operating charges | 640/8 | €61,557 | €56,459 | -€5,098 | -8.3% |
| Gross operating margin | 9900 | €104,984 | €139,128 | +€34,144 | +32.5% |
| Operating profit (loss) | 9901 | -€3,916 | €31,277 | +€35,193 | |
| Financial income | 75/76B | €128 | €532 | +€404 | +316.2% |
| Recurring financial income | 75 | €128 | €532 | +€404 | +316.2% |
| Financial charges | 65/66B | €14,398 | €12,418 | -€1,979 | -13.7% |
| Recurring financial charges | 65 | €14,398 | €12,418 | -€1,979 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,186 | €19,390 | +€37,576 | |
| Transfer from deferred taxes | 780 | €218 | €218 | = | 0.0% |
| Income taxes | 67/77 | €0 | €7,047 | +€7,047 | |
| Profit (loss) for the period | 9904 | -€17,968 | €12,562 | +€30,530 | |
| Transfer from tax-exempt reserves | 789 | €654 | €654 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,314 | €13,216 | +€30,530 |
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 3 October 2026 via checked.be.