Picuda: 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.
Picuda
Largest movements
- Cash +€22,441
up €22,441 (+44.5%), from €50,392 to €72,833
mainly Net result for the year (+€96,550) and Depreciation (+€14,086)
- Tangible fixed assets -€14,086
down €14,086 (-20.9%), from €67,249 to €53,163
- Receivables within one year -€10,057
down €10,057 (-21.5%), from €46,693 to €36,636
of which Trade receivables: -€6,663
- Deferred charges and accrued income -€8,686
down €8,686 (-56.4%), from €15,391 to €6,705
- Other debts -€9,770
down €9,770 (-10.3%), from €94,568 to €84,798
- Depreciation +€12,139
up €12,139 (+623.4%), from €1,947 to €14,086
- Taxes -€3,559
down €3,559 (-11.9%), from €29,962 to €26,403
- Gross operating margin -€2,064
down €2,064 (-1.5%), from €141,651 to €139,588
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 | €179,725 | €169,337 | -€10,388 | -5.8% |
| Fixed assets | 21/28 | €67,249 | €53,163 | -€14,086 | -20.9% |
| Tangible fixed assets | 22/27 | €67,249 | €53,163 | -€14,086 | -20.9% |
| Furniture and vehicles | 24 | €67,249 | €53,163 | -€14,086 | -20.9% |
| Current assets | 29/58 | €112,476 | €116,174 | +€3,698 | +3.3% |
| Amounts receivable within one year | 40/41 | €46,693 | €36,636 | -€10,057 | -21.5% |
| Trade receivables | 40 | €40,692 | €34,029 | -€6,663 | -16.4% |
| Other amounts receivable | 41 | €6,001 | €2,607 | -€3,394 | -56.6% |
| Cash at bank and in hand | 54/58 | €50,392 | €72,833 | +€22,441 | +44.5% |
| Deferred charges and accrued income | 490/1 | €15,391 | €6,705 | -€8,686 | -56.4% |
| Total equity and liabilities | 10/49 | €179,725 | €169,337 | -€10,388 | -5.8% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €161,125 | €150,737 | -€10,388 | -6.4% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €111,125 | €100,737 | -€10,388 | -9.3% |
| Trade debts | 44 | €259 | €266 | +€7 | +2.8% |
| Suppliers | 440/4 | €259 | €266 | +€7 | +2.8% |
| Taxes, remuneration and social security | 45 | €16,298 | €15,673 | -€625 | -3.8% |
| Taxes | 450/3 | €0 | €1,190 | +€1,190 | |
| Remuneration and social security | 454/9 | €16,298 | €14,482 | -€1,815 | -11.1% |
| Other amounts payable | 47/48 | €94,568 | €84,798 | -€9,770 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,947 | €14,086 | +€12,139 | +623.4% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €141,651 | €139,588 | -€2,064 | -1.5% |
| Operating profit (loss) | 9901 | €139,135 | €124,917 | -€14,218 | -10.2% |
| Financial income | 75/76B | €68 | €36 | -€32 | -47.2% |
| Recurring financial income | 75 | €68 | €36 | -€32 | -47.2% |
| Financial charges | 65/66B | €590 | €2,000 | +€1,410 | +239.1% |
| Recurring financial charges | 65 | €590 | €2,000 | +€1,410 | +239.1% |
| Profit (loss) for the period before taxes | 9903 | €138,613 | €122,952 | -€15,661 | -11.3% |
| Income taxes | 67/77 | €29,962 | €26,403 | -€3,559 | -11.9% |
| Profit (loss) for the period | 9904 | €108,651 | €96,550 | -€12,101 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €108,651 | €96,550 | -€12,101 | -11.1% |
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 9 October 2026 via checked.be.