PIKABO CONCEPTION: 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.
PIKABO CONCEPTION
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year +€94,542
up €94,542 (+88.5%), from €106,787 to €201,329
of which Trade receivables: +€48,435
- Tangible fixed assets -€81,276
down €81,276 (-3.8%), from €2.1m to €2.1m
of which Land and buildings: -€95,955
- Cash +€38,649
up €38,649 (+18.2%), from €212,718 to €251,367
mainly Depreciation (+€105,325) and Current investments (+€100,000)
- Stocks and contracts +€30,123
up €30,123 (+18.0%), from €167,403 to €197,527
- Debts after one year -€123,986
down €123,986 (-10.1%), from €1.2m to €1.1m
- Other debts +€53,827
up €53,827 (+10.0%), from €539,201 to €593,028
- Trade debts +€48,724
up €48,724 (+45.8%), from €106,489 to €155,213
- Tax, wage and social debts -€33,273
down €33,273 (-33.7%), from €98,627 to €65,355
of which Taxes: -€30,282
- Gross operating margin -€110,110
down €110,110 (-18.2%), from €605,159 to €495,049
- Taxes -€41,756
down €41,756 (-79.4%), from €52,583 to €10,827
- Staff costs +€29,135
up €29,135 (+11.3%), from €256,941 to €286,077
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 | €2,756,709 | €2,725,576 | -€31,133 | -1.1% |
| Fixed assets | 21/28 | €2,146,481 | €2,065,205 | -€81,276 | -3.8% |
| Tangible fixed assets | 22/27 | €2,145,164 | €2,063,888 | -€81,276 | -3.8% |
| Land and buildings | 22 | €2,129,558 | €2,033,604 | -€95,955 | -4.5% |
| Plant, machinery and equipment | 23 | €5,233 | €2,777 | -€2,456 | -46.9% |
| Furniture and vehicles | 24 | €10,373 | €27,507 | +€17,135 | +165.2% |
| Financial fixed assets | 28 | €1,316 | €1,316 | = | 0.0% |
| Current assets | 29/58 | €610,229 | €660,371 | +€50,143 | +8.2% |
| Stocks and contracts in progress | 3 | €167,403 | €197,527 | +€30,123 | +18.0% |
| Stocks | 30/36 | €167,403 | €197,527 | +€30,123 | +18.0% |
| Amounts receivable within one year | 40/41 | €106,787 | €201,329 | +€94,542 | +88.5% |
| Trade receivables | 40 | €106,787 | €155,222 | +€48,435 | +45.4% |
| Other amounts receivable | 41 | - | €46,106 | +€46,106 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €212,718 | €251,367 | +€38,649 | +18.2% |
| Deferred charges and accrued income | 490/1 | €23,320 | €10,149 | -€13,172 | -56.5% |
| Total equity and liabilities | 10/49 | €2,756,709 | €2,725,576 | -€31,133 | -1.1% |
| Equity | 10/15 | €661,143 | €680,304 | +€19,161 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €311,860 | €330,860 | +€19,000 | +6.1% |
| 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 | €310,000 | €329,000 | +€19,000 | +6.1% |
| Profit (loss) carried forward | 14 | €330,683 | €330,844 | +€161 | 0.0% |
| Amounts payable | 17/49 | €2,095,567 | €2,045,272 | -€50,295 | -2.4% |
| Amounts payable after more than one year | 17 | €1,223,166 | €1,099,180 | -€123,986 | -10.1% |
| Financial debts | 170/4 | €1,223,166 | €1,099,180 | -€123,986 | -10.1% |
| Amounts payable within one year | 42/48 | €871,477 | €945,162 | +€73,684 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €127,160 | €131,566 | +€4,406 | +3.5% |
| Trade debts | 44 | €106,489 | €155,213 | +€48,724 | +45.8% |
| Suppliers | 440/4 | €106,489 | €155,213 | +€48,724 | +45.8% |
| Taxes, remuneration and social security | 45 | €98,627 | €65,355 | -€33,273 | -33.7% |
| Taxes | 450/3 | €66,885 | €36,604 | -€30,282 | -45.3% |
| Remuneration and social security | 454/9 | €31,742 | €28,751 | -€2,991 | -9.4% |
| Other amounts payable | 47/48 | €539,201 | €593,028 | +€53,827 | +10.0% |
| Accrued charges and deferred income | 492/3 | €923 | €930 | +€7 | +0.7% |
| Non-recurring operating income | 76A | - | €1,072 | +€1,072 | |
| Remuneration, social security and pensions | 62 | €256,941 | €286,077 | +€29,135 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,375 | €105,325 | +€950 | +0.9% |
| Other operating charges | 640/8 | €5,949 | €8,768 | +€2,819 | +47.4% |
| Non-recurring operating charges | 66A | €240 | - | -€240 | |
| Gross operating margin | 9900 | €605,159 | €495,049 | -€110,110 | -18.2% |
| Operating profit (loss) | 9901 | €237,653 | €94,879 | -€142,774 | -60.1% |
| Financial income | 75/76B | €12,845 | €12,616 | -€230 | -1.8% |
| Recurring financial income | 75 | €12,845 | €12,616 | -€230 | -1.8% |
| Financial charges | 65/66B | €79,624 | €77,507 | -€2,117 | -2.7% |
| Recurring financial charges | 65 | €79,624 | €77,507 | -€2,117 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €170,875 | €29,988 | -€140,887 | -82.5% |
| Income taxes | 67/77 | €52,583 | €10,827 | -€41,756 | -79.4% |
| Profit (loss) for the period | 9904 | €118,292 | €19,161 | -€99,131 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,292 | €19,161 | -€99,131 | -83.8% |
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 5 October 2026 via checked.be.